This report, 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 an 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
- Emerging trends
- 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:
- Utility Vehicle
- Recreation/Utility Vehicle
- Sports Vehicle
- Youth Vehicle
Global Off-Road Vehicles (ORVs) Market by Application Type:
Global Off-Road Vehicles (ORVs) Market by Region:
- North America
- Rest of the World
Report Customization Options
With this detailed report, one of the following free customization options is offered to 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: Custom research services across sectors is offered.
1. Executive Summary
2. Global Off-Road Vehicles (ORVs) Market - Overview and Market Forces
2.2. Market Classification
2.2.1. By Vehicle Type
2.2.2. By Product Type
2.2.3. By Application Type
2.2.4. By Region
2.3. Market Drivers
2.4. Market Constraints
2.5. Supply Chain Analysis
2.6. Industry Life Cycle Analysis
2.7. PEST Analysis: Impact Assessment of Changing Business Environment
2.8. Porter Five Forces Analysis
2.8.1. Bargaining Power of Suppliers
2.8.2. Bargaining Power of Customers
2.8.3. Threat of New Entrants
2.8.4. Threat of Substitutes
2.8.5. Competitive Rivalry
2.9. SWOT Analysis
3. Global Off-Road Vehicles (ORVs) Market Analysis - By Vehicle Type
3.1. Strategic Insights
3.2. All-Terrain Vehicles (ATVs) Market Trend and Forecast (US$ Million and Thousand Units)
3.3. Side-by-Side Vehicles (SSVs) Market Trend and Forecast (US$ Million and Thousand Units)
4. Global Off-Road Vehicles (ORVs) Market Analysis - By Product Type
4.1. Strategic Insights
4.2. Utility ORVs Market Trend and Forecast (US$ Million and Thousand Units)
4.3. Recreational/Utility ORVs Market Trend and Forecast (US$ Million and Thousand Units)
4.4. Sports ORVs Market Trend and Forecast (US$ Million and Thousand Units)
4.5. Other ORVs Market Trend and Forecast (US$ Million and Thousand Units)
5. Global Off-Road Vehicles (ORVs) Market Analysis - By Application Type
5.1. Strategic Insights
5.2. Sports: Global ORVs Market Trend and Forecast (US$ Million and Thousand Units)
5.3. Entertainment: Global ORVs Market Trend and Forecast (US$ Million and Thousand Units)
5.4. Agriculture: Global ORVs Market Trend and Forecast (US$ Million and Thousand Units)
5.5. Military: Global ORVs Market Trend and Forecast (US$ Million and Thousand Units)
5.6. Hunting: Global ORVs Market Trend and Forecast (US$ Million and Thousand Units)
5.7. Others: Global ORVs Market Trend and Forecast (US$ Million and Thousand Units)
6. Global Off-Road Vehicles (ORVs) Market Analysis - By Region
6.1. Strategic Insights
6.2. North American ORVs Market Trend and Forecast (US$ Million and Thousand Units)
6.3. European ORVs Market Trend and Forecast (US$ Million and Thousand Units)
6.4. Asia-Pacific’s ORVs Market Trend and Forecast (US$ Million and Thousand Units)
6.5. Rest of the World’s (RoW) ORVs Market Trend and Forecast (US$ Million and Thousand Units)
7. Competitive Analysis
7.1. Strategic Insights
7.2. Presence by Vehicle Type
7.3. Geographical Presence
7.4. New Product Launches
7.5. Mergers and Acquisitions
7.6. Market Share Analysis
8. Strategic Growth Opportunities
8.1. Strategic Insights
8.2. Market Attractive Analysis
8.2.1. Market Attractiveness by Vehicle Type
8.2.2. Market Attractiveness by Product Type
8.2.3. Market Attractiveness by Application Type
8.2.4. Market Attractiveness by Region
8.3. Emerging Trends
8.4. Growth Matrix Analysis
8.5. Key Success Factors
9. Company Profile of Key Players
9.1. Arctic Cat Inc.
9.2. BRP Inc.
9.3. Honda Motor. Co., Ltd.
9.4. Deere & Company (John Deere)
9.5. Kawasaki Motors Corp.
9.6. Kubota Corporation
9.7. Polaris Industries Inc.
9.8. Suzuki Motors Corporation
9.9. Yamaha Motor Co., Ltd.