Market Research Report
Electric Off-Road Vehicles Market Size By Vehicle, By Application, Industry Analysis Report, Regional Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2021 - 2027
|Published by||Global Market Insights Inc.||Product code||1003353|
|Published||Content info||170 Pages
Delivery time: 2-3 business days
|Electric Off-Road Vehicles Market Size By Vehicle, By Application, Industry Analysis Report, Regional Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2021 - 2027|
|Published: April 30, 2021||Content info: 170 Pages||
Electric Off-Road Vehicles Market Size By Vehicle (ATV, SSV/UTV, Off-Road Motorcycles), By Application (Utility, Sports, Recreation, Military), Industry Analysis Report, Regional Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2021 - 2027.
The electric off-road vehicles market is likely to witness healthy revenue growth by 2027 due to high product demand across various application avenues such as utility, recreational, sports, and military among others. Presently, electric vehicles are playing a very useful role as compared to gasoline engines. As a greater number of people are getting involved in various recreational activities in hilly, muddy, forests areas, the use of these vehicles is surging rapidly.
In fact, through the years, off road vehicles have been specifically developed for both common as well as not so common terrain areas, either for recreational use or to finish a specific goal.
Electric off roaders are increasingly becoming popular among consumers since the use of combustion engine used for travelling on off-road generates more amount of pollution. With increasing consciousness around the importance of reducing carbon emissions, electric based off road vehicles are becoming more popular.
These vehicles, like their ICE counterparts, could serve a particular purpose having a purely recreational use like rock crawlers and sand rails. A few common off-road vehicles such as trucks, SUVs, and Jeeps are dual purpose and could be used merely as an ordinary means of on-road transportation.
The electric off-road vehicles market is segmented in terms of vehicle, application and regional landscape.
With respect to vehicle the electric off-road vehicles market is classified into off-road motorcycles, SSV/UTV and ATV. SSV/UTV segment will witness high demand over the coming time period owing to versatile application scope. UTVs or utility terrain vehicles are built and utilized for work rather than recreation. These types of vehicles are generally powerful and large and are able to seat customers mainly side by side having ample amount of storage space. UTVs are generally used to haul supplies and equipment in sites that make utilizing a truck impossible or impractical.
In terms of application, the market for electric off-road vehicles is bifurcated into military, recreation, sports and utility. Among these, the sports segment will witness robust growth over the coming period. Increasing number of adventure sports events across the world will drive the business growth.
On the regional front, Middle East & Africa region is expected to witness a tremendous growth owing to positive outlook of the tourism industry coupled with increase in number of recreational activities. For instance, the Abu Dhabi government has developed various routes where people could go off-road driving in Abu Dhabi. In fact, the pleasingly diverse landscape of Abu Dhabi also give a lot of opportunities for off-road driving. These factors and the growing population of people with higher disposable income in the region would aid the regional market growth over the coming time period.