This site uses cookies, including third-party cookies, that help us to provide and improve our services. Read More

Recreational Off-Highway Vehicles Market

Recreational Off-Highway Vehicles Market

Recreational Off-Highway Vehicles (ROVs) Market Forecast, Trend Analysis & Competition Tracking - Global Market insights 2018 to 2028

Recreational Off-Highway Vehicles Market
FACT786MR
  • May-2018
  • List of Tables : 203
  • List of Figures : 156
  • 170 Pages
  • Automotive

Introduction

The Recreational Off-Highway Vehicle Association (ROHVA) projects a continuous rise in sales of the recreational off-highway vehicles (ROVs) in the forthcoming years, with shifting trends toward power sports, and high demand for all-terrain vehicles (ATVs).

Consumer spending on leisure and sports has surged on account of their inclining preference toward leading a healthy lifestyle, complemented by growing GHDI across developed and developing nations.

Touring and recreational activities have been influenced by the upward trend of leisure & sports expenditure, thereby impacting demand for ROVs as a consequence.

Primarily a discretionary purchase, recreational off-highway vehicle sales flow and ebb with fluctuations in disposable income.

As disposable income increases, demand for ROVs at retail level rises, subsequently stimulating demand at manufacturing level.

Prospects of recreational off-highway vehicles market continue to be positive, as demand for high-performance vehicles, subjected to rough landscapes and environments, direct manufacturers’ focus toward sustainable technologies & designs, according to a recent Fact.MR report.

recreational off highway vehicles rovs market

The report projects the recreational off-highway vehicles (ROVs) market to illustrate a splendid 15.9% value CAGR between the forecast period 2018 and 2028.

Approximately 1,780,000 units of ROVs are pegged to be sold worldwide by 2028-end.

ROVs Market: Hybridization Persists as a Major Trend

Current trend in the ROVs Market is widening the application scope and curtailing costs for facilitating & driving technological penetration.

In off-highway machinery industry, progression in the development of electrical hybrid vehicles and systems continues to pick pace, with the rise in incorporation of electronics and sensors.

The recreational off-highway vehicles industry continues to explore different electrification levels, including full electrification or mild hybridization, given the consensus that there are a couple of effective strategies apropos of alternative energy for powering these vehicles.

The industry is demonstrating a paradigm shift toward all-electric ROVs, driven by the convergence of a plethora of factors that include reduction of fossil fuel dependency, recapturing energy, and ability of electric power in making vehicles more productive by leveraging efficient hybrid systems.

Integration of technologies such as battery advancements, artificial intelligence (AI), combined electro-hydraulic actuators, and autonomy, will further turbocharge the abilities of electrification in ROVs.

ROVs Market: North America Remains at the Forefront

Led by the U.S., North America will continues to spearhead the recreational off-highway vehicles market, with an estimated value share of over 50% by 2028-end.

Legislations are currently being set up in North America, proposing alternations to current laws related to ROVs.

These changes will potentially result in a battle between the environmentalists who focus on protecting valuable natural resources and off-road enthusiasts who seek access public lands.

Changes in ROVs’ legislations will further impact growth of the market in North America.

Furthering its commitment toward improving safety of ROVs and reducing the number of serious injuries and mortalities across the nation, the U.S. Consumer Product Safety Commission (CPSC) has rolled out an advance notice of proposed rulemaking (ANPR) for addressing safety hazards pertaining to ROVs. Inadequate lateral stability & occupant protection during a rollover crash, coupled with undesirable steering attributes of ROVs are engulfed in primary evaluations of CPSC.

The ANPR of CPSC is expected to significantly influence future development and manufacturing of recreational off-highway vehicles in North America.

In-depth Market Segmentation

The report on recreational off-highway vehicles (ROVs) market reflects a holistic angle considering all elements of the market.

A 360 degree view of the entire market along with detailed segmental analysis across important geographies has been covered in the report.

Analysis on key segments such as fuel type, vehicle type, application, engine displacement, speed, sales channel and region has been covered in the report.

The report offers value and volume analysis on these segments across major regions.

Drawing inferences from regional trends that support the growth of the recreational off-highway vehicles (ROVs) market and estimations on the current regional market scenario have been compiled in this research report.

Need an Exclusive Report for your Unique Requirement?

- Related Reports -

Specialty Fuel Additives Market

Global specialty fuel additives market is expected to represent a value of over US$ 6,000 Million by...

Industrial Trucks Market

Industrial trucks market is fragmented and is slated to grow at a value CAGR of 6% over the forecast...

Air Bearing Spindle Market

Air Bearing Spindle Market research report covers detailed information on Global Air Bearing Spindle...

Electric Vehicle Sound Generator Market

Electric vehicle sound generator market is witnessed to grow at a value CAGR of 14.5% and it is anti...

- Our Clients -

Report Client

- Evaluate How Fact.MR's Report Can Help. -

Is the market research conducted by Fact.MR?

Yes, the report has been compiled by expert analysts of Fact.MR, through a combination of primary and secondary research. To know more about how the research was conducted, you can speak to a research analyst.

What research methodology is followed by Fact.MR?

Fact.MR follows a methodology that encompasses the demand-side assessment of the market, and triangulates the same through a supply-side analysis. This methodology is based on the use of standard market structure, methods, and definitions.

What are the sources of secondary research?

Fact.MR conducts extensive secondary research through proprietary databases, paid databases, and information available in the public domain. We refer to industry associations, company press releases, annual reports, investor presentations, and research papers. More information about desk research is available upon request.

Who are the respondents for primary research?

Fact.MR speaks to stakeholders across the spectrum, including C-level executives, distributors, product manufacturers, and industry experts. For a full list of primary respondents, please reach out to us.

Is a sample of this report available for evaluation?

Yes, you can request a sample, and it will be sent to you through an email.