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According to the latest research, the global Off Road Vehicle market size was valued at USD 18259.7 million in 2022 and is expected to expand at a CAGR of 2.8% during the forecast period, reaching USD 21550.7 million by 2028.
Off-road vehicles are considered to be any type of vehicle that can travel up and down the paved or gravel surface. It is typically characterized by a large open pedal, a flexible suspension or even a large tire of a track.
Drivers
Off-road vehicles typically have large tires, soft suspensions and exposed deep treads. The common use of such off-road vehicles is to conduct exploration activities in areas without asphalt pavement. High-powered vehicles and large clearing areas can be used to access truncated and uneven roads and forest roads. Due to its superior technical advantages, including advanced fourwheel drive systems, enhanced power and torque, and differential locks, its diverse applications in
construction and agriculture have fueled market growth. For example, the application of off-road vehicles in agricultural activities includes: crop mapping and surveying, rock harvesting, irrigation, etc. In addition, off-road trucks are used in military operations to transport goods, fuel, ammunition, etc. These vehicles were also used to transport heavy weapons during the war. Widespread use in these industries is the main reason for driving market growth.
More and more entertainment facilities and participants are the reason for the growth of the off-road vehicle market. Initiatives such as the National Wildlife Refuge System are attracting young people to participate in activities such as hunting and forest trails. The surge in demand for sports has had a positive impact on market growth, which can be attributed to increased sports events, such as the development of parks, beach rides and leisure roads around the world, for example, in all 50 states of the United States, of the 1,000 trails, an increase of 370 miles to 19 national leisure trails in 17 states has expanded leisure opportunities on public land. These recreational roads are designated to promote health, conversation and recreational activities such as driving off-road vehicles. In addition, some leisure parks also allow ATV rides, and the increase in these facilities has contributed to the growth of the off-road vehicle market.
Region Overview:
From 2023-2028, USA is estimated to witness robust growth prospects.
Company Overview:
The top three companies are Honda Motors. Co., Ltd., Polaris Industries Inc. and Kubota Corporation with the revenue market share of 22.40%,19.93% and 11.43% in 2018.
Honda Motor Co., Ltd. is a Japanese public multinational conglomerate corporation primarily known as a manufacturer of automobiles, aircraft, motorcycles, and power equipment.
Polaris Industries is an American manufacturer of motorcycles, snowmobiles, ATV, and neighborhood electric vehicles. Polaris was founded in Roseau, Minnesota, USA, where it still has engineering and manufacturing. The company's corporate headquarters is in Medina, Minnesota.
Segmentation Overview:
Among different product types, Utility Terrain Vehicle segment is anticipated to contribute the largest market share in 2028.
Application Overview:
By application, the Entertainment segment occupied the biggest share from 2018 to 2022.
This report elaborates on the market size, market characteristics, and market growth of the Off Road Vehicle industry between the year 2018 to 2028, and breaks down according to the product type, downstream application, and consumption area of Off Road Vehicle. The report also introduces players in the industry from the perspective of the value chain and looks into the leading companies.
Key Points this Global Off Road Vehicle Market Report Include:
Market Size Estimates: Off Road Vehicle market size estimation in terms of revenue and sales from 2018-2028
Market Dynamic and Trends: Off Road Vehicle market drivers, restraints, opportunities, and challenges
Macro-economy and Regional Conflict: Influence of global inflation and Russia & Ukraine War on the Off Road Vehicle market
Segment Market Analysis: Off Road Vehicle market revenue and sales by type and by application from 2018-2028
Regional Market Analysis: Off Road Vehicle market situations and prospects in major and top regions and countries
Off Road Vehicle Market
Off Road Vehicle Industry Chain: Off Road Vehicle market raw materials & suppliers, manufacturing process, distributors by region, downstream customers
Off Road Vehicle Industry News, Policies by regions
Off Road Vehicle Industry Porters Five Forces Analysis
Key players in the global Off Road Vehicle market are covered in Chapter 2:
Polaris Industries Inc.
Yamaha Motors Co., Ltd.
Kubota Corporation
BRP Inc.
Arctic Cat Inc.
Suzuki Motors
Kawasaki Motors Corp.
Honda Motors. Co., Ltd.
John Deere
Kymco
In Chapter 6 and Chapter 9, on the basis of types, the Off Road Vehicle market from 2018 to 2028 is primarily split into:
All-Terrain Vehicle
Utility Terrain Vehicle
In Chapter 7 and Chapter 10, on the basis of applications, the Off Road Vehicle market from 2018 to 2028 covers:
Agriculture
Entertainment
Others
Geographically, the detailed analysis of consumption, revenue, market share and growth rate of the following regions from 2018 to 2028 are covered in Chapter 8 and Chapter 11:
United States
Europe
China
Japan
India
Southeast Asia
Latin America
Middle East and Africa
Others
In summary, this report relies on sources from both primary and secondary, combines comprehensive quantitative analysis with detailed qualitative analysis, and pictures the market from a macro overview to micro granular segment aspects. Whatever your role in this industry value chain is, you should benefit from this report with no doubt.
Chapter Outline
This report consists of 12 chapters. Below is a brief guideline to help you quickly grasp the main contents of each chapter:
Chapter 1 first introduces the product overview, market scope, product classification, application, and regional division, and then summarizes the global Off Road Vehicle market size in terms of revenue, sales volume, and average price.
Chapter 2 analyzes the main companies in the Off Road Vehicle industry, including their main businesses, products/services, sales, prices, revenue, gross profit margin, and the latest developments/updates.
Chapter 3 is an analysis of the competitive environment of Off Road Vehicle market participants. This mainly includes the revenue, sales, market share, and average price of the top players, along with the market concentration ratio in 2022 and the players' M&A and expansion in recent years.
Chapter 4 is an analysis of the Off Road Vehicle industrial chain, including raw material analysis, manufacturing cost structure, distributors, and major downstream buyers.
Chapter 5 focuses on Off Road Vehicle market dynamics and marketing strategy analysis, which include opportunities, challenges, industry development trends under inflation, industry news and policies analyzed by region, Porter's Five Forces analysis, as well as direct and indirect marketing, and the development trends of marketing channels.
Chapters 6-8 have segmented the Off Road Vehicle market by type, application, and region, with a focus on sales and value from 2018 to 2023 from both vertical and horizontal perspectives.
Chapters 9-11 provide detailed Off Road Vehicle market forecast data for 2023-2028, broken down by type and application, region, and major countries to help understand future growth trends.
Chapter 12 concludes with an explanation of the data sources and research methods. Verify and analyze through preliminary research to obtain final quantitative and qualitative data.
2022
Off-road vehicles are considered to be any type of vehicle that can travel up and down the paved or gravel surface. It is typically characterized by a large open pedal, a flexible suspension or even a large tire of a track.
Drivers
Off-road vehicles typically have large tires, soft suspensions and exposed deep treads. The common use of such off-road vehicles is to conduct exploration activities in areas without asphalt pavement. High-powered vehicles and large clearing areas can be used to access truncated and uneven roads and forest roads. Due to its superior technical advantages, including advanced fourwheel drive systems, enhanced power and torque, and differential locks, its diverse applications in
construction and agriculture have fueled market growth. For example, the application of off-road vehicles in agricultural activities includes: crop mapping and surveying, rock harvesting, irrigation, etc. In addition, off-road trucks are used in military operations to transport goods, fuel, ammunition, etc. These vehicles were also used to transport heavy weapons during the war. Widespread use in these industries is the main reason for driving market growth.
More and more entertainment facilities and participants are the reason for the growth of the off-road vehicle market. Initiatives such as the National Wildlife Refuge System are attracting young people to participate in activities such as hunting and forest trails. The surge in demand for sports has had a positive impact on market growth, which can be attributed to increased sports events, such as the development of parks, beach rides and leisure roads around the world, for example, in all 50 states of the United States, of the 1,000 trails, an increase of 370 miles to 19 national leisure trails in 17 states has expanded leisure opportunities on public land. These recreational roads are designated to promote health, conversation and recreational activities such as driving off-road vehicles. In addition, some leisure parks also allow ATV rides, and the increase in these facilities has contributed to the growth of the off-road vehicle market.
Region Overview:
From 2023-2028, USA is estimated to witness robust growth prospects.
Company Overview:
The top three companies are Honda Motors. Co., Ltd., Polaris Industries Inc. and Kubota Corporation with the revenue market share of 22.40%,19.93% and 11.43% in 2018.
Honda Motor Co., Ltd. is a Japanese public multinational conglomerate corporation primarily known as a manufacturer of automobiles, aircraft, motorcycles, and power equipment.
Polaris Industries is an American manufacturer of motorcycles, snowmobiles, ATV, and neighborhood electric vehicles. Polaris was founded in Roseau, Minnesota, USA, where it still has engineering and manufacturing. The company's corporate headquarters is in Medina, Minnesota.
Segmentation Overview:
Among different product types, Utility Terrain Vehicle segment is anticipated to contribute the largest market share in 2028.
Application Overview:
By application, the Entertainment segment occupied the biggest share from 2018 to 2022.
This report elaborates on the market size, market characteristics, and market growth of the Off Road Vehicle industry between the year 2018 to 2028, and breaks down according to the product type, downstream application, and consumption area of Off Road Vehicle. The report also introduces players in the industry from the perspective of the value chain and looks into the leading companies.
Key Points this Global Off Road Vehicle Market Report Include:
Market Size Estimates: Off Road Vehicle market size estimation in terms of revenue and sales from 2018-2028
Market Dynamic and Trends: Off Road Vehicle market drivers, restraints, opportunities, and challenges
Macro-economy and Regional Conflict: Influence of global inflation and Russia & Ukraine War on the Off Road Vehicle market
Segment Market Analysis: Off Road Vehicle market revenue and sales by type and by application from 2018-2028
Regional Market Analysis: Off Road Vehicle market situations and prospects in major and top regions and countries
Off Road Vehicle Market
Competitive Landscape
and Major Players: Analysis of 10-15 leading market players, sales, price, revenue, gross, gross margin, product/service profile and recent development/updates, etc.Off Road Vehicle Industry Chain: Off Road Vehicle market raw materials & suppliers, manufacturing process, distributors by region, downstream customers
Off Road Vehicle Industry News, Policies by regions
Off Road Vehicle Industry Porters Five Forces Analysis
Key players in the global Off Road Vehicle market are covered in Chapter 2:
Polaris Industries Inc.
Yamaha Motors Co., Ltd.
Kubota Corporation
BRP Inc.
Arctic Cat Inc.
Suzuki Motors
Kawasaki Motors Corp.
Honda Motors. Co., Ltd.
John Deere
Kymco
In Chapter 6 and Chapter 9, on the basis of types, the Off Road Vehicle market from 2018 to 2028 is primarily split into:
All-Terrain Vehicle
Utility Terrain Vehicle
In Chapter 7 and Chapter 10, on the basis of applications, the Off Road Vehicle market from 2018 to 2028 covers:
Agriculture
Entertainment
Others
Geographically, the detailed analysis of consumption, revenue, market share and growth rate of the following regions from 2018 to 2028 are covered in Chapter 8 and Chapter 11:
United States
Europe
China
Japan
India
Southeast Asia
Latin America
Middle East and Africa
Others
In summary, this report relies on sources from both primary and secondary, combines comprehensive quantitative analysis with detailed qualitative analysis, and pictures the market from a macro overview to micro granular segment aspects. Whatever your role in this industry value chain is, you should benefit from this report with no doubt.
Chapter Outline
This report consists of 12 chapters. Below is a brief guideline to help you quickly grasp the main contents of each chapter:
Chapter 1 first introduces the product overview, market scope, product classification, application, and regional division, and then summarizes the global Off Road Vehicle market size in terms of revenue, sales volume, and average price.
Chapter 2 analyzes the main companies in the Off Road Vehicle industry, including their main businesses, products/services, sales, prices, revenue, gross profit margin, and the latest developments/updates.
Chapter 3 is an analysis of the competitive environment of Off Road Vehicle market participants. This mainly includes the revenue, sales, market share, and average price of the top players, along with the market concentration ratio in 2022 and the players' M&A and expansion in recent years.
Chapter 4 is an analysis of the Off Road Vehicle industrial chain, including raw material analysis, manufacturing cost structure, distributors, and major downstream buyers.
Chapter 5 focuses on Off Road Vehicle market dynamics and marketing strategy analysis, which include opportunities, challenges, industry development trends under inflation, industry news and policies analyzed by region, Porter's Five Forces analysis, as well as direct and indirect marketing, and the development trends of marketing channels.
Chapters 6-8 have segmented the Off Road Vehicle market by type, application, and region, with a focus on sales and value from 2018 to 2023 from both vertical and horizontal perspectives.
Chapters 9-11 provide detailed Off Road Vehicle market forecast data for 2023-2028, broken down by type and application, region, and major countries to help understand future growth trends.
Chapter 12 concludes with an explanation of the data sources and research methods. Verify and analyze through preliminary research to obtain final quantitative and qualitative data.
Years considered for this report:
Historical Years:
2018-2022Base Year:
2022Estimated Year:
2023Forecast Period:
2023-2028Frequently Asked Questions
This market study covers the global and regional market with an in-depth analysis of the overall growth prospects in the market. Furthermore, it sheds light on the comprehensive competitive landscape of the global market. The report further offers a dashboard overview of leading companies encompassing their successful marketing strategies, market contribution, recent developments in both historic and present contexts.
- By product type
- By End User/Applications
- By Technology
- By Region
The report provides a detailed evaluation of the market by highlighting information on different aspects which include drivers, restraints, opportunities, and threats. This information can help stakeholders to make appropriate decisions before investing.
