Off-road Vehicles Market

Analysis of Off-road Vehicles Market, By
Vehicle Type, Product Type - Global
Industry Insights, Trends, 2018-2025
Major factor driving growth of the market are increasing adoption of off-road vehicles in
military and agriculture operations. Off-road trucks are used in military operations to
transport cargo, fuels, ammunition etc. These vehicles are also used for transportation
of heavy loaded weapons during wars. Utility off-road vehicles are used in agricultural
operations such as crop plotting and scouting, for picking rocks, for irrigation purpose
etc. These type of vehicles perform farm work efficiently thus, reducing the labor costs
associated with these tasks. Moreover, advanced technologies such as GPS on these
vehicles, for creating field boundaries and marking field lines, allows to reduce soil
compaction and save planting time by marking the lines. Thus, increasing adoption of
utility vehicles in agriculture is expected to positively impact growth of the off-road
vehicle market.
However, these vehicles are used for rough terrains, and not for paved road use. Also, it
becomes difficult to ride these vehicles on extreme paved surfaces. These factors are
expected to restrain growth of the market over the forecast period (2017–2025).
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Off-road vehicles are vehicles, which run on and off the road surface, usually over rough
terrain. These vehicles are categorised on the basis of specifications of tyre and
suspension. Factors such as high ground clearance, skid plates, approach departure,
and breakover allows these vehicles to ply on unpaved roads with low and rough
traction surfaces. It includes both two-wheelers and four-wheelers such as SUVs.
Global Off-road Vehicles Market: Regional Insights
North America is expected to hold the largest market share in global off-road vehicles
market in over the forecast period. According to the Coherent Market Insights analysis,
U.S. accounted for over 50% of the global off-road vehicles sales in 2016. Moreover,
high presence of automotive parts providers in the region such as Visteon Corporation,
Borgwarner Inc., and Lear Corporation is expected to positively impact growth of the
market in this region. Additionally, increasing number of sport events such as mountain
racing, dirt racing, and all terrain racing, organized in the region is expected to further
boost demand for off-road vehicles. Canadian Council of Snowmobile Organizations
and North American Council of Snowmobiles Associations conducts sports events every
year, which also has a positive impacts on the growth of the off-road vehicles market in
this region.
Global Off-road Vehicles Market: Competitive Background
Key players in the global off-road vehicles market are Polaris Industries, Inc., Yahama
Motor co., Ltd., Honda Motor Co., Ltd., Kawasaki Motor Co., Kubota Corporation, BRP
Inc., Arctic Cat Inc., Deere and Company, Mahindra and Mahindra, Ford Motor
Company, Volkswagen AG and Land Rover.
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