Global Recreational Off-Highway Vehicles Market is expected to reach US$ 3.87 Bn by 2029, at a CAGR of 15.1% during the forecast period.Global Recreational Off-Highway Vehicles Market Overview
Recreational off-highway vehicles consist of a steering wheel, rollover cage, seatbelts and four or more low-pressure tires. They are used as motorcycles, trail bikes, dune buggies, all-terrain vehicles, snowmobile and many more. An increase in the per capita income of people, rise in disposable income, change in lifestyle, increase in expenses on luxury, are some of the factors driving the growth of the recreational off-highway vehicles market globally. North America is a key market for Recreational off-highway vehicles as people use these vehicles for adventure and other recreational purposes. Similarly, the Asia Pacific and the European regions are expected to hold a significant share of Recreational off-highway vehicles due to the increase in outdoor activities and upsurge in tourism in the regions. The report provides a detailed study of key market dynamics, market segmentation and regional analysis. The market study contains detailed insights about how the Global Recreational off-highway vehicles Market is anticipated to grow during the forecast period.To know about the Research Methodology :- Request Free Sample Report
Market Dynamics
Recreational off-highway vehicles are gaining demand due to an Increase in the per capita income of people, rise in disposable income, change in lifestyle, and increase in expenses on luxury. Similarly, an increase in the number of young consumers and a surge in the number of rallies and off-road racing activities with shifting trends toward power sports, and high demand for all-terrain vehicles (ATVs) are expected to drive the demand for these vehicles. The sale of recreational off-highway vehicles have increased as the U.S. Consumer Product Safety Commission sets strict safety standards for recreational off-highway vehicles, which is expected to drive the growth of the recreational off-highway vehicles market globally. A new trend regarding recreational off-highway vehicles is the advancement of vehicles as electric recreational off-highway vehicles, which is increasing due to government authorities implementing norms to reduce the carbon footprint. Also, electric recreational off-highway vehicles have low operational cost, reduction of fossil fuel dependency, recapturing energy, and ability of electric power in making vehicles more productive. The developing countries have less demand for recreational off-highway vehicles due to low consumer spending, which may act as a restraining factor that can hinder the growth of recreational off-highway vehicles in the region.Segmentation Analysis
By Engine Type, among gasoline, diesel, and electric engines, the gasoline engine holds the largest share in recreational off-highway vehicles as they are light in weight and gives high performance compared to the other two engines. Also, gasoline engines are less polluting than diesel engines and provide good pickup speeds are creating demand during the forecast period. similarly, the use of electric engines is expected to rise in near future due to less operating cost and the rising importance to reduce pollution. By Engine Capacity manufacturers mostly offer engines with a capacity of 900cc and 1000 cc still less than or equal to 750cc engines segment is expected to grow globally thereby rise in recreational off-highway vehicles market during the forecast period.Regional Analysis
North America is expected to hold a share of over 50% and dominate the global recreational off-highway vehicles market due to a high preference for off-road activities in the U.S during the forecast period. U.S. Consumer Product Safety Commission (CPSC) has implemented rules regarding safety hazards relating to ROVs. This rulemaking of CPSC is expected to significantly impact future development and manufacturing of recreational off-highway vehicles in North America. Similarly, these recreational off-highway vehicles are used by the military of the U.S for transporting armed forces and ammunitions across long distances, also used in practical work such as agriculture and dairy farming, for leisure-oriented purposes. Thus, the demand for vehicles to run in tough territory provides growth of the recreational off-highway vehicles in the region.Global Recreational off-highway vehicles Market Scope: Inquire before buying
Recreational Off-Highway Vehicles Market Report Coverage Details Base Year: 2022 Forecast Period: 2023-2029 Historical Data: 2018 to 2022 Market Size in 2022: US $ 1.45 Bn. Forecast Period 2023 to 2029 CAGR: 15.1% Market Size in 2029: US $ 3.87 Bn. Segments Covered: by Engine Type Gasoline engines Diesel engines Electric engines by Engine Capacity Less than or equal to 750cc Greater than 750cc engine capacity Global Recreational Off-Highway Vehicles Market by Region:
North America (United States, Canada and Mexico) Europe (UK, France, Germany, Italy, Spain, Sweden, Austria and Rest of Europe) Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan and Rest of APAC) Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A) South America (Brazil, Argentina Rest of South America)Global Recreational Off-Highway Vehicles Market Key Players
1. Polaris 2. Yamaha Motor Co., Ltd 3. Bennche 4. American Honda Motor Co., Inc 5. John Deere 6. Kawasaki 7. Arctic Cat Inc 8. BRP Inc Frequently Asked Questions: 1. Which region has the largest share in Global Global Recreational Off-Highway Vehicles Market? Ans: Asia Pacific region held the highest share in 2022. 2. What is the growth rate of Global Global Recreational Off-Highway Vehicles Market? Ans: The Global Market is growing at a CAGR of 2.9% during forecasting period 2023-2029. 3. What is scope of the Global Global Recreational Off-Highway Vehicles Market report? Ans: Global Market report helps with the PESTEL, PORTER, COVID-19 Impact analysis, Recommendations for Investors& Leaders, and market estimation of the forecast period. 4. Who are the key players in Global Global Recreational Off-Highway Vehicles Market? Ans: The important key players in the Global Market are – Denso Corporation, Hanon Systems, Sanden Holding Corporation, Mitsubishi Heavy Industries Ltd, MAHLE GmbH, Valeo SA, Keihin Corporation, Calsonic Kansei Corporation, SamvardhanaMotherson Group, Subros Limited, SMAC Auto Air, TransAir Manufacturing, Eberspacher Group, Marelli Corporation. 5. What is the study period of this Market? Ans: The Global Market is studied from 2022 to 2029.
1. Preface 1.1. Market Definition and Key Research Objectives 1.2. Research Highlights 2. Assumptions and Research Methodology 2.1. Report Assumptions 2.2. Abbreviations 2.3. Research Methodology 2.3.1. Secondary Research 2.3.1.1. Secondary data 2.3.1.2. Secondary Sources 2.3.2. Primary Research 2.3.2.1. Data from Primary Sources 2.3.2.2. Breakdown of Primary Sources 3. Executive Summary: Global Recreational off-highway vehicles Market Size, by Market Value (US$ Mn) 3.1. Global Market Segmentation 3.2. Global Market Segmentation Share Analysis, 2019 3.2.1. Global 3.2.2. By Region (North America, Europe, Asia Pacific, South America, Middle East Africa) 3.3. Geographical Snapshot of the Recreational off-highway vehicles Market 3.4. Geographical Snapshot of the Recreational off-highway vehicles Market, By Manufacturer share 4. Global Recreational off-highway vehicles Market Overview, 2022-2029 4.1. Market Dynamics 4.1.1. Drivers 4.1.1.1. Global 4.1.1.2. By Region (North America, Europe, Asia Pacific, South America, Middle East Africa) 4.1.2. Restraints 4.1.2.1. Global 4.1.2.2. By Region (North America, Europe, Asia Pacific, South America, Middle East Africa) 4.1.3. Opportunities 4.1.3.1. Global 4.1.3.2. By Region (North America, Europe, Asia Pacific, South America, Middle East Africa) 4.1.4. Challenges 4.1.4.1. Global 4.1.4.2. By Region (North America, Europe, Asia Pacific, South America, Middle East Africa) 4.1.5. Industry Trends and Emerging Technologies 4.1.6. Porters Five Forces Analysis 4.1.6.1. Threat of New Entrants 4.1.6.2. Bargaining Power of Buyers/Consumers 4.1.6.3. Bargaining Power of Suppliers 4.1.6.4. Threat of Substitute Products 4.1.6.5. Intensity of Competitive Rivalry 4.1.7. Value Chain Analysis 4.1.8. Technological Roadmap 4.1.9. Regulatory landscape 4.1.10. Impact of the Covid-19 Pandemic on the Global Recreational off-highway vehicles Market 5. Supply Side and Demand Side Indicators 6. Global Recreational off-highway vehicles Market Analysis and Forecast, 2022-2029 6.1. Global Recreational off-highway vehicles Market Size & Y-o-Y Growth Analysis. 7. Global Recreational off-highway vehicles Market Analysis and Forecasts, 2022-2029 7.1. Market Size (Value) Estimates & Forecast By Engine Type, 2022-2029 7.1.1. Gasoline engines 7.1.2. Diesel engines 7.1.3. Electric engines 7.2. Market Size (Value) Estimates & Forecast By Engine Capacity, 2022-2029 7.2.1. Less than or equal to 750cc 7.2.2. Greater than 750cc engine capacity 8. Global Recreational off-highway vehicles Market Analysis and Forecasts, By Region 8.1. Market Size (Value) Estimates & Forecast By Region, 2022-2029 8.1.1. North America 8.1.2. Europe 8.1.3. Asia-Pacific 8.1.4. Middle East & Africa 8.1.5. South America 9. North America Recreational off-highway vehicles Market Analysis and Forecasts, 2022-2029 9.1. Market Size (Value) Estimates & Forecast By Engine Type, 2022-2029 9.1.1. Gasoline engines 9.1.2. Diesel engines 9.1.3. Electric engines 9.2. Market Size (Value) Estimates & Forecast By Engine Capacity, 2022-2029 9.2.1. Less than or equal to 750cc 9.2.2. Greater than 750cc engine capacity 10. North America Recreational off-highway vehicles Market Analysis and Forecasts, By Country 10.1. Market Size (Value) Estimates & Forecast By Country, 2022-2029 10.1.1. US 10.1.2. Canada 10.1.3. Mexico 11. U.S. Recreational off-highway vehicles Market Analysis and Forecasts, 2022-2029 11.1. Market Size (Value) Estimates & Forecast By Engine Type, 2022-2029 11.2. Market Size (Value) Estimates & Forecast By Engine Capacity, 2022-2029 12. Canada Recreational off-highway vehicles Market Analysis and Forecasts, 2022-2029 12.1. Market Size (Value) Estimates & Forecast By Engine Type, 2022-2029 12.2. Market Size (Value) Estimates & Forecast By Engine Capacity, 2022-2029 13. Mexico Recreational off-highway vehicles Market Analysis and Forecasts, 2022-2029 13.1. Market Size (Value) Estimates & Forecast By Engine Type, 2022-2029 13.2. Market Size (Value) Estimates & Forecast By Engine Capacity, 2022-2029 14. Europe Recreational off-highway vehicles Market Analysis and Forecasts, 2022-2029 14.1. Market Size (Value) Estimates & Forecast By Engine Type, 2022-2029 14.2. Market Size (Value) Estimates & Forecast By Engine Capacity, 2022-2029 15. Europe Recreational off-highway vehicles Market Analysis and Forecasts, By Country 15.1. Market Size (Value) Estimates & Forecast By Country, 2022-2029 15.1.1. U.K 15.1.2. France 15.1.3. Germany 15.1.4. Italy 15.1.5. Spain 15.1.6. Sweden 15.1.7. CIS Countries 15.1.8. Rest of Europe 16. U.K. Recreational off-highway vehicles Market Analysis and Forecasts, 2022-2029 16.1. Market Size (Value) Estimates & Forecast By Engine Type, 2022-2029 16.2. Market Size (Value) Estimates & Forecast By Engine Capacity, 2022-2029 17. France Recreational off-highway vehicles Market Analysis and Forecasts, 2022-2029 17.1. Market Size (Value) Estimates & Forecast By Engine Type, 2022-2029 17.2. Market Size (Value) Estimates & Forecast By Engine Capacity, 2022-2029 18. Germany Recreational off-highway vehicles Market Analysis and Forecasts, 2022-2029 18.1. Market Size (Value) Estimates & Forecast By Engine Type, 2022-2029 18.2. Market Size (Value) Estimates & Forecast By Engine Capacity, 2022-2029 19. Italy Recreational off-highway vehicles Market Analysis and Forecasts, 2022-2029 19.1. Market Size (Value) Estimates & Forecast By Engine Type, 2022-2029 19.2. Market Size (Value) Estimates & Forecast By Engine Capacity, 2022-2029 20. Spain Recreational off-highway vehicles Market Analysis and Forecasts, 2022-2029 20.1. Market Size (Value) Estimates & Forecast By Engine Type, 2022-2029 20.2. Market Size (Value) Estimates & Forecast By Engine Capacity, 2022-2029 21. Sweden Recreational off-highway vehicles Market Analysis and Forecasts, 2022-2029 21.1. Market Size (Value) Estimates & Forecast By Engine Type, 2022-2029 21.2. Market Size (Value) Estimates & Forecast By Engine Capacity, 2022-2029 22. CIS Countries Recreational off-highway vehicles Market Analysis and Forecasts, 2022-2029 22.1. Market Size (Value) Estimates & Forecast By Engine Type, 2022-2029 22.2. Market Size (Value) Estimates & Forecast By Engine Capacity, 2022-2029 23. Rest of Europe Recreational off-highway vehicles Market Analysis and Forecasts, 2022-2029 23.1. Market Size (Value) Estimates & Forecast By Engine Type, 2022-2029 23.2. Market Size (Value) Estimates & Forecast By Engine Capacity, 2022-2029 24. Asia Pacific Recreational off-highway vehicles Market Analysis and Forecasts, 2022-2029 24.1. Market Size (Value) Estimates & Forecast By Engine Type, 2022-2029 24.2. Market Size (Value) Estimates & Forecast By Engine Capacity, 2022-2029 25. Asia Pacific Recreational off-highway vehicles Market Analysis and Forecasts, by Country 25.1. Market Size (Value) Estimates & Forecast By Country, 2022-2029 25.1.1. China 25.1.2. India 25.1.3. Japan 25.1.4. South Korea 25.1.5. Australia 25.1.6. ASEAN 25.1.7. Rest of Asia Pacific 26. China Recreational off-highway vehicles Market Analysis and Forecasts, 2022-2029 26.1. Market Size (Value) Estimates & Forecast By Engine Type, 2022-2029 26.2. Market Size (Value) Estimates & Forecast By Engine Capacity, 2022-2029 27. India Recreational off-highway vehicles Market Analysis and Forecasts, 2022-2029 27.1. Market Size (Value) Estimates & Forecast By Engine Type, 2022-2029 27.2. Market Size (Value) Estimates & Forecast By Engine Capacity, 2022-2029 28. Japan Recreational off-highway vehicles Market Analysis and Forecasts, 2022-2029 28.1. Market Size (Value) Estimates & Forecast By Engine Type, 2022-2029 28.2. Market Size (Value) Estimates & Forecast By Engine Capacity, 2022-2029 29. South Korea Recreational off-highway vehicles Market Analysis and Forecasts, 2022-2029 29.1. Market Size (Value) Estimates & Forecast By Engine Type, 2022-2029 29.2. Market Size (Value) Estimates & Forecast By Engine Capacity, 2022-2029 30. Australia Recreational off-highway vehicles Market Analysis and Forecasts, 2022-2029 30.1. Market Size (Value) Estimates & Forecast By Engine Type, 2022-2029 30.2. Market Size (Value) Estimates & Forecast By Engine Capacity, 2022-2029 31. ASEAN Recreational off-highway vehicles Market Analysis and Forecasts, 2022-2029 31.1. Market Size (Value) Estimates & Forecast By Engine Type, 2022-2029 31.2. Market Size (Value) Estimates & Forecast By Engine Capacity, 2022-2029 32. Rest of Asia Pacific Recreational off-highway vehicles Market Analysis and Forecasts, 2022-2029 32.1. Market Size (Value) Estimates & Forecast By Engine Type, 2022-2029 32.2. Market Size (Value) Estimates & Forecast By Engine Capacity, 2022-2029 33. Middle East Africa Recreational off-highway vehicles Market Analysis and Forecasts, 2022-2029 33.1. Market Size (Value) Estimates & Forecast By Engine Type, 2022-2029 33.2. Market Size (Value) Estimates & Forecast By Engine Capacity, 2022-2029 34. Middle East Africa Recreational off-highway vehicles Market Analysis and Forecasts, by Country 34.1. Market Size (Value) Estimates & Forecast by Country, 2022-2029 34.1.1. South Africa 34.1.2. GCC Countries 34.1.3. Egypt 34.1.4. Nigeria 34.1.5. Rest of ME&A 35. South Africa Recreational off-highway vehicles Market Analysis and Forecasts, 2022-2029 35.1. Market Size (Value) Estimates & Forecast By Engine Type, 2022-2029 35.2. Market Size (Value) Estimates & Forecast By Engine Capacity, 2022-2029 36. GCC Countries Recreational off-highway vehicles Market Analysis and Forecasts, 2022-2029 36.1. Market Size (Value) Estimates & Forecast By Engine Type, 2022-2029 36.2. Market Size (Value) Estimates & Forecast By Engine Capacity, 2022-2029 37. Egypt Recreational off-highway vehicles Market Analysis and Forecasts, 2022-2029 37.1. Market Size (Value) Estimates & Forecast By Engine Type, 2022-2029 37.2. Market Size (Value) Estimates & Forecast By Engine Capacity, 2022-2029 38. Nigeria Recreational off-highway vehicles Market Analysis and Forecasts, 2022-2029 38.1. Market Size (Value) Estimates & Forecast By Engine Type, 2022-2029 38.2. Market Size (Value) Estimates & Forecast By Engine Capacity, 2022-2029 39. Rest of ME&A Recreational off-highway vehicles Market Analysis and Forecasts, 2022-2029 39.1. Market Size (Value) Estimates & Forecast By Engine Type, 2022-2029 39.2. Market Size (Value) Estimates & Forecast By Engine Capacity, 2022-2029 40. South America Recreational off-highway vehicles Market Analysis and Forecasts, 2022-2029 40.1. Market Size (Value) Estimates & Forecast By Engine Type, 2022-2029 40.2. Market Size (Value) Estimates & Forecast By Engine Capacity, 2022-2029 41. South America Recreational off-highway vehicles Market Analysis and Forecasts, by Country 41.1. Market Size (Value) Estimates & Forecast by Country, 2022-2029 41.1.1. Brazil 41.1.2. Argentina 41.1.3. Rest of South America 42. Brazil Recreational off-highway vehicles Market Analysis and Forecasts, 2022-2029 42.1. Market Size (Value) Estimates & Forecast By Engine Type, 2022-2029 42.2. Market Size (Value) Estimates & Forecast By Engine Capacity, 2022-2029 43. Argentina Recreational off-highway vehicles Market Analysis and Forecasts, 2022-2029 43.1. Market Size (Value) Estimates & Forecast By Engine Type, 2022-2029 43.2. Market Size (Value) Estimates & Forecast By Engine Capacity, 2022-2029 44. Rest of South America Recreational off-highway vehicles Market Analysis and Forecasts, 2022-2029 44.1. Market Size (Value) Estimates & Forecast By Engine Type, 2022-2029 44.2. Market Size (Value) Estimates & Forecast By Engine Capacity, 2022-2029 45. Competitive Landscape 45.1. Geographic Footprint of Major Players in the Global Recreational off-highway vehicles Market 45.2. Competition Matrix 45.2.1. Competitive Benchmarking of key players by price, presence, market share, Applications and R&D investment 45.2.2. New Product Launches and Product Enhancements 45.2.3. Market Consolidation 45.2.3.1. M&A by Regions, Investment and Applications 45.2.3.2. M&A Key Players, Forward Integration and Backward Integration 45.3. Company Profile : Key Players 45.3.1. Polaris 45.3.1.1. Company Overview 45.3.1.2. Financial Overview 45.3.1.3. Geographic Footprint 45.3.1.4. Product Portfolio 45.3.1.5. Business Strategy 45.3.1.6. Recent Developments 45.4. Polaris 45.5. Yamaha Motor Co., Ltd 45.6. Bennche 45.7. American Honda Motor Co., Inc 45.8. John Deere 45.9. Kawasaki 45.10. Arctic Cat Inc 45.11. BRP Inc 46. Primary Key Insights