LONDON--(BUSINESS WIRE)--Technavio has been monitoring the off-road vehicle market and it is poised to grow by 223.96 thousand units during 2020-2024, progressing at a CAGR of almost 4% during the forecast period. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment.
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Frequently Asked Questions-
- Based on segmentation by type, which is the leading segment in the market?
- The side-by-side vehicles (SxS) segment is expected to be the leading segment in the global market during the forecast period.
- What are the major trends in the market?
- Availability of improved suspension technology in off-road motorcycles is one of the major trends in the market.
- At what rate is the market projected to grow?
- Growing at a CAGR of almost 4%, the incremental growth of the market is anticipated to be 223.96 thousand units.
- Who are the top players in the market?
- Bombardier Recreational Products Inc., Honda Motor Co. Ltd., Kawasaki Heavy Industries Ltd., KTM AG, KWANG YANG MOTOR Co. Ltd., Massimo Motor Sports LLC, Polaris Inc., Suzuki Motor Corp., Yamaha Motor Co. Ltd., and ZHEJIANG CFMOTO POWER Co. Ltd. are some of the major market participants.
- What are the key market drivers and challenges?
- Development of electric drivetrains for off-road vehicles is one of the major factors driving the market. However, the complications in off-road motorcycle licensing restraints the market growth.
- How big is the North America market?
-
The North America region will contribute 35% of market growth.
The market is fragmented, and the degree of fragmentation will accelerate during the forecast period. Bombardier Recreational Products Inc., Honda Motor Co. Ltd., Kawasaki Heavy Industries Ltd., KTM AG, KWANG YANG MOTOR Co. Ltd., Massimo Motor Sports LLC, Polaris Inc., Suzuki Motor Corp., Yamaha Motor Co. Ltd., and ZHEJIANG CFMOTO POWER Co. Ltd. are some of the major market participants. The development of electric drivetrains for off-road vehicles will offer immense growth opportunities. To make most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
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Off-road Vehicle Market 2020-2024: Segmentation
Off-road Vehicle Market is segmented as below:
-
Type
- SxS
- ATVs
- Off-road Motorcycles
-
Geography
- North America
- Europe
- APAC
- MEA
- South America
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Off-road Vehicle Market 2020-2024: Scope
Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources. The off-road vehicle market report covers the following areas:
- Off-road Vehicle Market Size
- Off-road Vehicle Market Trends
- Off-road Vehicle Market Analysis
This study identifies availability of improved suspension technology in off-road motorcycles as one of the prime reasons driving the off-road vehicle market growth during the next few years.
Technavio suggests three forecast scenarios (optimistic, probable, and pessimistic) considering the impact of COVID-19. Technavio’s in-depth research has direct and indirect COVID-19 impacted market research reports.
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Off-road Vehicle Market 2020-2024: Key Highlights
- CAGR of the market during the forecast period 2020-2024
- Detailed information on factors that will assist off-road vehicle market growth during the next five years
- Estimation of the off-road vehicle market size and its contribution to the parent market
- Predictions on upcoming trends and changes in consumer behavior
- The growth of the off-road vehicle market
- Analysis of the market’s competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of off-road vehicle market vendors
Table of Contents:
Executive Summary
- Market Overview
Market Landscape
- Market ecosystem
- Value chain analysis
Market Sizing
- Market definition
- Market segment analysis
- Market size 2019
- Market outlook: Forecast for 2019-2024
Five Forces Analysis
- Five forces summary
- Bargaining power of buyers
- Bargaining power of suppliers
- Threat of new entrants
- Threat of substitutes
- Threat of rivalry
- Market condition
Market Segmentation by Type
- Market segments
- Comparison by Type
- SxS - Market size and forecast 2019-2024
- ATVs - Market size and forecast 2019-2024
- Off-road motorcycles - Market size and forecast 2019-2024
- Market opportunity by Type
Customer landscape
- Overview
Geographic Landscape
- Geographic segmentation
- Geographic comparison
- North America - Market size and forecast 2019-2024
- Europe - Market size and forecast 2019-2024
- APAC - Market size and forecast 2019-2024
- MEA - Market size and forecast 2019-2024
- South America - Market size and forecast 2019-2024
- Key leading countries
- Market opportunity by geography
- Market drivers
- Market challenges
- Market trends
Vendor Landscape
- Overview
- Vendor landscape
- Landscape disruption
Vendor Analysis
- Vendors covered
- Market positioning of vendors
- Bombardier Recreational Products Inc.
- Honda Motor Co. Ltd.
- Kawasaki Heavy Industries Ltd.
- KTM AG
- KWANG YANG MOTOR Co. Ltd.
- Massimo Motor Sports LLC
- Polaris Inc.
- Suzuki Motor Corp.
- Yamaha Motor Co. Ltd.
- ZHEJIANG CFMOTO POWER Co. Ltd.
Appendix
- Scope of the report
- Currency conversion rates for US$
- Research methodology
-
List of abbreviations
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Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
