The 167 pages latest publication on the Off-Road Vehicles (ORVs) Market throws light on the market dynamics and the factors impacting the business environment.
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Stratview Research’s latest market report on the Off-Road Vehicles (ORVs) Market covers the wide spectrum of the factors governing the future growth including drivers, challenges, emerging trends, technology changes, and environmental factors. The report is a perfect blend of insights and market figures which would enable the business strategists to churn out the future business strategies.
Read complete report description here.
According to the report, Off-Road Vehicles (ORVs) Market is likely to reach an estimated value of US$ 11.1 billion in 2023.
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.
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.
Stratview Research has done a rigorous study on the Off-Road Vehicles (ORVs) Market in its recently launched market report. Market forecast has been done after considering the views of key decision makers, extensive desk research, key market drivers and challenges, apart from our market expertise. Identify the most important factors and opportunities impacting your business decisions.
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
This report studies the Off-Road Vehicles (ORVs) Market and has segmented the market in four ways, keeping in mind the interest of all the stakeholders across the value chain. The following are the four ways in which the market is segmented:
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
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Source: MarketersMedia
Release ID: 498079
