Global Recreational off-highway vehicles Market: Industry Analysis and Forecast 2020 -2026

Recreational off-highway vehicles consist of a steering wheel, rollover cage, seatbelts and four or more low-pressure tires.

Global Recreational off-highway vehicles Market is anticipated to reach US$ XX Mn by 2026 from US$ XX Mn in 2020 at a CAGR of 4.1% during a 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.
Global Recreational Off-Highway Vehicles 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.
Global Recreational Off-Highway Vehicles Market 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.

Global Recreational off-highway vehicles Market

To know about the Research Methodology :- Request Free Sample Report

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.
Global Recreational off-highway vehicles Market Regional Analysis

Global Recreational off-highway vehicles Market

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.

for more info:https://www.maximizemarketresearch.com/market-report/global-recreational-off-highway-vehicles-market/93415/

 

Global Recreational off-highway vehicles Market
Global Recreational off-highway vehicles Market Scope: Inquire before buying

Global Recreational Off-Highway Vehicles Market
Global Recreational Off-Highway Vehicles Market by Region:

• North America
• Asia pacific
• Europe
• Middle East and Africa
• South America
Global Recreational Off-Highway Vehicles Market Key Players

• Polaris
• Yamaha Motor Co., Ltd
• Bennche
• American Honda Motor Co., Inc
• John Deere
• Kawasaki
• Arctic Cat Inc
• BRP Inc

 

For More Information Visit @:
This Report Is Submitted By : Maximize Market Research Company
Customization of the report:
Maximize Market Research provides free personalized of reports as per your demand. This
report can be personalized to meet your requirements. Get in touch with us and our sales team
will guarantee provide you to get a report that suits your necessities.

About Maximize Market Research:
Maximize Market Research provides B2B and B2C research on 20,000 high growth emerging
opportunities amp; technologies as well as threats to the companies across the Healthcare,
Pharmaceuticals, Electronics amp; Communications, Internet of Things, Food and Beverages,
Aerospace and Defense and other manufacturing sectors.


akash pingale

164 Blog posts

Comments