U.S. Off-Road Vehicles Market Share, Trends & Forecast, 2018 – 2024 - PowerPoint PPT Presentation

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U.S. Off-Road Vehicles Market Share, Trends & Forecast, 2018 – 2024

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Title: U.S. Off-Road Vehicles Market Share, Trends & Forecast, 2018 – 2024


1
U.S. Off-Road Vehicles Market Growth, Analysis
Forecast To 2024
2
Key Insights from U.S. Off-Road Vehicles Market
  • Changing lifestyle with increasing participation
    in outdoor activities will positively influence
    the U.S. ORVs market share over the forecast
    period.
  • The presence of various facilities is scaling up
    the ORV demand. The availability of off-road
    trail guides and travel communities are assisting
    events by providing easily accessible route data
    and plans. Moreover, the emergence of grants and
    funding for the development of trails will expand
    the U.S. ORVs market size from 2018 to 2024.
  • Increasing utility activities, such as
    construction, agriculture, and mining, will
    propel the industry growth. ORVs are capable of
    operation on variable natural terrains and
    carrying heavy weights. High torque generation,
    superior traction, and stability further advocate
    its usage in non-conventional terrains. However,
    rising accidents and injuries arising from
    off-roading will restrict the U.S. off-road
    vehicles market size.
  • Ongoing regulatory initiatives to enhance driver
    and passenger safety will boost product adoption.
    The rising adoption of safety gears will induce a
    significant potential in the U.S. off-road
    vehicles (ORVs) market share in the next six
    years.

3
Continued
SSV leads the industry size owing to its
applications in sports, utility, and recreational
activities. Industry players are upgrading their
product portfolio for multiple functionalities
and more affordability. Moreover, easy finance
availability will escalate the U.S. ORVs market
growth over the forecast timeline. Off-road
motorcycles will witness around 6 CAGR in the
U.S. off-road vehicle (ORVs) market size over
forecast period. According to the OIO, in 2017,
the U.S. outdoor participants spent over USD 50
million in off roading. Industry participants are
expanding their product portfolio to serve larger
consumer base. Military application will
witness a steady growth in the U.S. off-road
vehicles market share with the adoption of ORVs
to carry artillery and soldiers in tough
terrains. Rising product demand in tactical
combat missions, search rescue, and security
patrol activities will enhance segment
penetration. Organizations, such as AMA, are
conducting off-roading events, such as Amateur
Championship, supporting the segment growth.
4

Latest Research Report On U.S. Off-Road Vehicles
Market _at_ https//www.gminsights.com/industry-analy
sis/us-off-road-vehicles-market Request for
a sample of this research report
_at_ https//www.gminsights.com/request-sample/detail
/3074
5
Arizona Off-Road Vehicles Market, By Vehicle,
2017 2024, (USD Million)

6
Major Companies in U.S. Off-Road Vehicles Market
  • Polaris Industries
  • Textron
  • BRP
  • Yamaha Motors

7
Industry Coverage

8
Regional Insights in U.S. Off-Road Vehicles
Market
  • In 2017, California accounts for over 10 share
    in the U.S. off-road vehicles (ORVs) market with
    the presence of state parks and recreational
    areas driving the product demand. Organizations
    such as California State Parks are launching
    Grants Cooperative Agreements Program to
    promote OHV adaption. Arizona will witness steady
    growth owing to flexible regulations. For
    instance, Arizona allows the usage of
    California-registered vehicles in its state
    parks.
  • Texas will witness strong growth with the
    increasing youth population participating in ORV
    activities. According to the U.S. Census Bureau,
    in 2017, the under-18 population rose to 7.37
    million with as increase of over 4.5 as compared
    to 2013. The growing youth population will propel
    industry share over the forecast period.
    Moreover, the Texas law allows the under-14 to
    drive ATVs under supervision, positively
    influencing the product demand.

9
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