Off-Road Vehicles (ORV) Market
Report code - SRCG101 | Published On : Jun,2018 | Status: Published | No. of Pages: 167

Off-Road Vehicles (ORVs) Market by Vehicle Type (ATVs and SSVs), by Product Type (Utility, Recreational/Utility, Sports, and Youth), by Application Type (Sports, Entertainment, Agriculture, Military, Hunting, and Others), and by Region (North America, Europe, Asia-Pacific, and Rest of the World), Trend, Forecast, Competitive Analysis, and Growth Opportunity: 2018-2023

This report, from Stratview Research, studies the global off-road vehicles (ORVs) market over the trend period 2012 to 2017 and forecast period of 2018 to 2023. 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 an estimated value of US$ 11.1 billion in 2023. 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.

Off-Road Vehicles Market

ORVs are four-wheel vehicles that are designed for off-road use and traversing rough terrain, dunes, swamps, and marshland. These vehicles can be multi-passenger as well as single passenger and can be used for various purposes including recreation, sports, fishing, hunting, as well as utility purposes on farms, ranches, and construction sites. The ORVs industry has a brilliant history of more than four decades. In 1970’s, ATVs were firstly developed with three wheels now they are entirely switched to four wheels. In 2004, the global sales of ATVs reached an unprecedented landmark of 814,000 units since then the global ATVs industry never touched that peaked sales point.

In contrast to ATVs, SSVs have a relatively small history of over 20 years. An SSV is more like a car and has a steering wheel and pedals. It is equipped with seat belts and rollover protection bars and allows the driver and passenger to sit side-by-side in the vehicle. Some SSV models also contain additional rows of seats to accommodate up to six passengers. Major SSV manufacturers are putting efforts for the development of advanced SSVs targeting enhanced functionality and differentiated riding experience.

SSV vehicle is a type of off-road vehicle and offers many advantages over ATVs, such as better riding experience, rollover protection bars, and ease of mobility. In the last ten years, the off-road industry noticed a continuous shift from ATVs to SSVs. 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. The 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. The 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 ORVs market over the next five years, driven by increasing demand for SSVs for sports and entertainment applications. More than 50% of the ORV sales come from sports and entertainment applications in 2017.

Based on the regions, 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 2017. Europe, another major region, is likely to grow at a healthy rate over the next five years, propelled by Germany and France. Asia-Pacific is a relatively very small market but is likely to witness the highest growth during the forecast period, driven by an increased demand for power sports in many countries including 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., Yamaha Motors 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 & distribution network, and proximity to the key markets are the key strategies adopted by the key players to gain a competitive edge in the market.

Research Methodology

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 Stratview Research’s 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 industry experts have been executed to obtain both qualitative and quantitative insights.

Report Features

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. 

Off-Road Vehicles (ORVs) Market by Vehicle Type:

  • All-Terrain Vehicles (ATVs)
  • Side-by-Side Vehicles (SSVs)

Off-Road Vehicles (ORVs) Market by Product Type:

  • Utility Vehicle
  • Recreation/Utility Vehicle
  • Sports Vehicle
  • Youth Vehicle

Off-Road Vehicles (ORVs) Market by Application Type:

  • Agriculture
  • Entertainment
  • Hunting
  • Military
  • Sports
  • Others

Off-Road Vehicles (ORVs) Market by Region:

  • North America
  • Europe
  • Asia-Pacific
  • Rest of the World

 

Report Customization Options

With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

Company Profiling

  • Detailed profiling of additional market players (up to 3 players)
  • SWOT analysis of key players (up to 3 players)

Regional Segmentation

  • Current market segmentation of any one of the regions by vehicle type

Competitive Benchmarking

  • Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances

 

Custom Research: Stratview research offers custom research services across the sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry at sales@stratviewresearch.com.


List of Figures

List of Tables

Disclaimer

Copyright

Abbreviation

Currency Exchange

About Us

Report Scope

Report Objectives 

Research Methodology

Secondary Research

Key Information Gathered from Secondary Research

Primary Research

Key Information Gathered from Primary Research

Breakdown of Primary Interviews by Region, Designation, and Value Chain Node

Data Analysis and Triangulation

1.       Executive Summary  

2.       Off-Road Vehicles (ORVs) Market - Overview and Market Forces

2.1.                Introduction

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’s 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.       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.       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.                Youth ORVs Market Trend and Forecast (US$ Million and Thousand Units)

5.       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.       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.




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