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(Transportation-News.com, April 23, 2018 ) Global ORV market is segmented into two types; All-Terrain Vehicle and Side by Side Vehicle. Side by Side vehicle offers many advantages over ATVs, such as better riding experience, rollover protection bars, and ease of mobility. In the last ten years, Off-road industry have witnessed a continuous shift from ATV to Side by Side vehicle.
The global off-road vehicle market offers a healthy growth opportunity and is likely to witness 6.2% CAGR during the forecast period of 2016 to 2021. Recovery of the global economy and increasing disposable income are the major drivers of the ORV market. Increasing use of the ORV in sports, agriculture and entertainment are likely to drive the demand during the forecast period. The US is the largest ORV market due to presence of large stretches of natural terrain, unpaved roads, and large ranches and farms across the country.
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Global ORV market is segmented into two types; All-Terrain Vehicle and Side by Side Vehicle. Side by Side vehicle offers many advantages over ATVs, such as better riding experience, rollover protection bars, and ease of mobility. In the last ten years, Off-road industry have witnessed a continuous shift from ATV to Side by Side vehicle.
Sports and entertainment are the major applications of the ORV industry globally. Other major applications are agriculture, military, and hunting. More than 50% of the ORV sales comes from sports and entertainment applications. Both sports and entertainment are expected to remain the dominant applications during the forecast period.
The supply chain of this market comprises raw material suppliers, component manufacturers, ATV and SSV manufacturers, and distributors. The global ORV is a consolidated market with presence of global as well as regional players. The key ORV manufacturers are Polaris Industries, Honda Motors, Yahama Motors, John Deere, Kubota Corporation, Arctic Cat Inc, BRP Inc, and Kawasaki Motors. New product development, vast product portfolio, in-house key component manufacturing, and presence in the key markets are the key strategies adopted by the key players to gain competitive edge in the market.
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 of the carbon brakes market - Strategic growth opportunities for the existing and new players - Key success factors
The global off-road vehicle market is segmented into the following categories.
Global Off-Road Vehicle Market by Vehicle Type: - All-Terrain Vehicle - Side by Side Vehicle Global Off-Road Vehicle Market by Product Type: - Utility Vehicle - Recreational Vehicle - Sports Vehicle - Touring Vehicle - Others Global Off-Road Vehicle Market by Application Type: - Agriculture - Entertainment - Hunting - Military - Sports - Others Global Off-Road Vehicle Market by Region: - North America - Europe - Asia-Pacific - Rest of the World
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Company Profile of Key Players Arctic Cat Inc. BRP Inc. Honda Motors. Co., Ltd. John Deere Kawasaki Motors Corp. Kubota Corporation Polaris Industries Inc. Suzuki Motors Yahama Motors Co., Ltd.
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