MarketStudyReport.com adds two new reports on off-road vehicles market and powersports industry for 2018-2024 offering growth forecasts, competitive scenario, industry trends, outlook, market size, share and regional coverage for each.
The first report titled Off-Road Vehicles Market Size By Vehicle (ATV, SSV/UTV, Off-road Motorcycles, Snowmobiles), By Application (Utility, Sports, Recreation, Military), Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, UK, France, Italy, Spain, Russia, Sweden, China, India, Japan, Australia, Brazil, Mexico, Argentina, Saudi Arabia, UAE, South Africa), Growth Potential, Price Trends, Competitive Market Share & Forecast, 2018 – 2024 says increasing demand for off-road vehicles among consumers owing to surging adventure & sporting events significantly boosting industry penetration. Rising spending on recreation and leisure practices are strongly supporting product demand.
SSV market share is expected to witness growth at around 6% from 2018 to 2024. This can be credited to the benefits offered such as increased mobility, rollover protecting bars and storage facility. In 2017, Dakar Rally held in South America, introduced the special category as a side-by-side vehicle class along with cars, trucks, and bikes.
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Recreation segment accounted for over USD 3.5 billion in 2017. Rising product demand owing to improved leisure and touring activities among consumers primarily driving industry growth. Electric ATV has captured the strong attention from consumers owing to improved performance, easy to operate and less maintenance thereby propelling product landscape.
North America off-road vehicles are expected to capture over 55% industry share by 2024. Augmented government expenditure for improving recreational activities to attract more consumers stimulating industry share. Huge consumer base along with presence of infrastructure for using ATVs are primarily boosting the product demand. The rising popularity of off-road sports events such as Lucas Oil Off Road Racing Series, The Off-Road Championship (TORC), Grand National Cross Country are instigating the business growth.
Companies profiled in this off road vehicles market research include Arctic Cat Inc., Honda Motor Co. Ltd., Deere & Company (John Deere), Kawasaki Motors Corp., Kubota Corporation, Polaris Industries Inc., Suzuki Motors Corporation, Yahama Motor Co., Ltd., Bombardier Recreational Products, Kässbohrer Geländefahrzeug, Wildcat, Tomcar Australia, Massimo Motors, KTM and Caterpillar.
The second report titled Power Sports Market Size By Vehicle (All-Terrain Vehicles, Side By Side Vehicles, Personal Watercrafts, Snowmobiles, Heavyweight Motorcycles), Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, UK, France, Russia, Spain, China, Japan, India, Thailand, Malaysia, Indonesia, Brazil, Mexico, Argentina, Saudi Arabia, UAE, South Africa), Growth Potential, Price Trends, Competitive Market Share & Forecast, 2018 – 2024 says all-terrain vehicle power sports market is expected to continue their industry dominance through the forecast timeframe. This can be attributed to the growing popularity of sports competitions among youths, increasing number of outdoor parks, and ATV clubs for promoting the adoption and safe handling of the vehicles. Development of training facilities for offering training to customers have helped in improving the safety and customer satisfaction.
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North America accounted for largest market share by volume in 2017. Government agencies including Bureau of Land Management (BLM) and Federal Highway Administration (FHWA) are increasingly motivating customers towards recreational activities thereby accelerating the industry growth.
Asia Pacific power sports market share is expected to witness significant gains at around 4.5% over the forecast timeframe. This can be attributed to increasing disposable income which have augmented the vehicles sales. Moreover, government initiatives such as ‘Make in India’ targeting to strengthen manufacturing sector and reducing unemployment will provide stable growth platform from 2018 to 2024.
Some of the major power sports market participants include Arctic Cats, Kymco, John Deere, Kawasaki Motors, Kubota, Honda Motors, Yamaha Motors, Harley Davidson, Suzuki Motors, Can-Am, BRP and Polaris Industries.
Major Chapters from Table of Contents of this report include:
Chapter 1. Methodology and Scope
Chapter 2. Executive Summary
Chapter 3. Power Sports Market Industry Insights
Chapter 4. Power Sports Market, By Vehicle
Chapter 5. Power Sports Market, By Region
Chapter 6. Company Profiles
Tables and Figures
Complete report is available at https://www.marketstudyreport.com/reports/power-sports-market .
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