Global Off-Road Vehicles (ORVs) Market by Vehicle Type (All-Terrain Vehicles and Side-by-Side Vehicles), by Product Type (Utility, Recreational/Utility, Sports, and Youth), by Application Type (Sports, Entertainment, Agriculture, Military, Hunting, and Others), and by Region (North America, Europe, Asia-Pacific, and Rest of the World), Trend, Forecast, Competitive Analysis, and Growth Opportunity: 2017-2022
This report, from Stratview Research, studies the global off-road vehicles (ORVs) market over the period 2017 to 2022. The report provides detailed insights into the market dynamics to enable informed business decision making and growth strategy formulation based on the opportunities present in the market.
The Global Off-Road Vehicles (ORVs) Market: Highlights
The global off-road vehicles (ORVs) market offers healthy growth opportunities in the entire ecosystem and is projected to reach US$ 11.1 billion in 2022. Recovery of the global economy and increasing disposable income, growing recreational and touring activities, an advancement in the ORV technology, and increasing usage of ORVs in the agriculture and military operations are the major factors proliferating the demand for ORVs globally. The USA is the largest ORVs market due to its large stretches of natural terrain, unpaved roads, and large ranches and farms across the country.
The global ORVs market is segmented based on vehicle type as All-Terrain Vehicle (ATV) and Side-by-Side Vehicle (SSV). SSV is likely to witness a higher growth during the forecast period, driven by an incessant shift from ATVs to SSVs. SSV offers numerous advantages over ATVs, such as better riding experience, rollover protection bars, and ease of mobility. These factors significantly reduce the number of accidents and injuries as compared to ATVs.
Based on the product type, the global ORVs market is segmented as Utility, Recreation/Utility, Sports, and Youth. Utility is projected to remain the most dominant product type in the global ORVs market during the forecast period. All the major players have an excellent product portfolio for the utility ORVs. Sports segment is likely to witness the highest growth during the same period, driven by increasing tourism and recreational activities across the globe. The USA is the largest buyer of both utility and sports vehicles.
Based on the application type, the global ORVs market is segmented as Sports, Entertainment, Agriculture, Hunting, Military, and Others. Sports and entertainment are projected to remain the growth engines of the global market over the next five years, driven by increasing demand for SSVs for sports and entertainment applications. More than 50% of the ORV sales comes from sports and entertainment applications in 2016.
Based on the region, North America is expected to remain the largest market for ORVs over the next five years. The USA is the growth engine of the North American as well as global ORVs market. The country alone accounted for more than 50% of the global ORVs sales in 2016. Asia-Pacific is relatively a small market but is likely to witness the highest growth during the forecast period, driven by an increasing demand for Powersports in China, Australia, and India.
The supply chain of this market comprises raw material suppliers, component manufacturers, ATV and SSV manufacturers, and distributors, and buyers. The global ORVs is a highly consolidated market with the presence of global as well as regional players. The key ORV manufacturers are Polaris Industries, Inc., Honda Motor Co., Ltd., Yahama Motor Co., Ltd., BRP Inc., Arctic Cat Inc., Deere & Company (John Deere), Kubota Corporation, and Kawasaki Motors Corp. New product development, vast product portfolio, wide dealer and distribution network, and proximity to the key markets are the key strategies adopted by the major players to gain a competitive edge in the market.
This report offers high-quality insights and is the outcome of detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders and validation and triangulation with Stratview Research’s internal database and statistical tools. More than 1,000 authenticated secondary sources, such as company annual reports, fact book, press release, journals, investor presentation, white papers, patents, and articles, have been leveraged to gather the data. More than 10 detailed primary interviews with the market players across the value chain in all four regions and with industry experts have been executed to obtain both the qualitative and quantitative insights.
This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights on the market dynamics and will enable strategic decision making for the existing market players as well as those willing to enter the market. The following are the key features of the report:
Market structure: Overview, industry life cycle analysis, supply chain analysis
Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
Market trend and forecast analysis
Market segment trend and forecast
Competitive landscape and dynamics: Market share, product portfolio, product launches, etc.
Attractive market segments and associated growth opportunities
Strategic growth opportunities for the existing and new players
Key success factors
The global off-road vehicles market is segmented into the following categories.
Global Off-Road Vehicles (ORVs) Market by Vehicle Type:
All-Terrain Vehicles (ATVs)
Side-by-Side Vehicles (SSVs)
Global Off-Road Vehicles (ORVs) Market by Product Type:
Global Off-Road Vehicles (ORVs) Market by Application Type:
Global Off-Road Vehicles (ORVs) Market by Region:
Rest of the World
Report Customization Options
With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:
Detailed profiling of additional market players (up to 3 players)
SWOT analysis of key players (up to 3 players)
Current market segmentation of any one of the regions by vehicle type
Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances
Custom Research: Stratview research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry at email@example.com.