The Business Research Company’s Recreational Off-Highway Vehicles Global Market Report 2023 is the most detailed report available on the market, including broad forecast periods and multiple geographies. The report covers the historic period – 2010-2021, and the forecast period – 2023-2032. The Recreational Off-Highway Vehicles Global Market Report 2023 evaluates recreational off-highway vehicles market size, growth rate, drivers, trends, and major companies.
The report provides a global perspective by covering 60 geographies and focusing on major economies in each region – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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The global recreational off-highway vehicles market is expected to grow from $8.17 billion in 2022 to $9.28 billion in 2023 at a compound annual growth rate (CAGR) of 13.16%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic. The war between these two countries has led to economic sanctions on multiple countries, surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and resulted in increased interest rates affecting many markets across the globe. The recreational off-highway vehicles market is expected to reach $15.29 billion in 2027 at a CAGR of 13.39%.
The increasing demand for outdoor recreational activities is expected to propel the growth of the recreational off-highway vehicles market. Outdoor recreational activities are leisure activities that take place outside, typically in natural environments. Recreational off-highway vehicles (OHVs) can be helpful for outdoor recreational activities by navigating off-road terrains, allowing individuals to access remote and less-travelled areas that may not be easily reachable by conventional vehicles. For instance, in 2022, according to the Outdoor Foundation, a US-based non-profit organization committed to the health of communities and the outdoor recreational sector, in 2021, 164.2 million, or 54% of Americans aged six and over engaged in outdoor recreation at least once, the greatest number of participants on record, and it is 6.9% higher than in March 2020, when 161.3 American people participated in outdoor recreation. Therefore, the increasing demand for outdoor recreational activities is driving the growth of the recreational off-highway vehicles market.
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The recreational off-highway vehicles market segments in the report are:
1) By Type: Gasoline, Diesel, Electric
2) By Vehicle Type: All-Terrain Vehicle (ATV), Utility Task Vehicle (UTV), Snowmobiles, Other Vehicles
3) By Distribution Channel: Online, Offline
4) By Application: Individual, Fleets, Rental Services, Sports, Agriculture
Major Players:
- Honda Motor Co. Inc.
- John Deere GmbH & Co.
- Suzuki Motor Corporation
- Yamaha Motor Co. Ltd.
- Textron Inc.
The table of contents in TBRC’s recreational off-highway vehicles market report includes:
1. Executive Summary
2. Recreational Off-Highway Vehicles Market Characteristics
3. Recreational Off-Highway Vehicles Market Trends And Strategies
4. Recreational Off-Highway Vehicles Market – Macro Economic Scenario
5.Global Recreational Off-Highway Vehicles Market Drivers and Restraints
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32. Global Recreational Off-Highway Vehicles Market Competitive Benchmarking
33. Global Recreational Off-Highway Vehicles Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Recreational Off-Highway Vehicles Market
35. Recreational Off-Highway Vehicles Market Future Outlook and Potential Analysis
36. Appendix
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