Electric Off-Road Vehicles Market Size By Vehicle (All Terrain Vehicle [ATV], SSV/UTV, Off-Road Motorcycles), By Application (Utility, Sports, Recreation, Military) & Forecast, 2023

Description

List of Tables

Electric Off-Road Vehicle Market is anticipated to grow considerably through 2032, owing to the increasing investments made by OEMs in new product development. Off-roading calls for torque and reliable acceleration, and EVs offer immense torque and linear power delivery, making them an ideal tool for any trail job. In most cases, all four-wheel-drive systems in EVs are smarter and thus are more capable than mechanical, gas-driven setups.

Besides, market participants operating in the electric off-road vehicle industry are integrating different strategies, such as M&As and business expansions, to maintain their position in the global marketplace. For instance, in 2022, Mullen Automotive acquired a 100% stake in Bollinger Motors to enhance their positions in the rapidly expanding electric sport utility and commercial vehicles markets.

The electric off-road vehicle industry is segmented in terms of vehicle, application, and region.

Based on vehicle, the side-by-side vehicle/utility terrain vehicle (UTV) segment was valued at over USD 30 million in 2022. Increasing demand for Utility Terrain Vehicles (UTVs) owing to their ability to efficiently transport goods over a short distance and effective operations in harsh environments will spur its demand in the future. Besides, the low operating costs associated with electric UTVs, and several measures taken by the regulatory bodies to ensure safe & responsible use of these vehicles will further drive vehicle adoption in the coming years.

By application, the utility segment will showcase considerable growth through 2032. The segmental growth will be fueled by the rising traction of electric off-road vehicles in agricultural applications such as transporting supplies, plowing fields, and harrowing fields. In addition, agriculture and transportation industries are among the leading contributors of greenhouse gases, owing to which various federal governments are introducing strict regulations for reducing emissions from these industries, prompting manufacturers to introduce technologically advanced off-road electric vehicles.

Regionally, the Asia Pacific electric off-road vehicle market is anticipated to garner noticeable gains during the estimated timeframe. Consumer participation in outdoor leisure activities, such as off-road riding in Japan, has increased with rising disposable income, stimulating demand for off-road vehicles. Besides, off-road trails and recreational parks are becoming more popular, and the presence of well-established market players such as Polaris, Zero Motorcycle, and KTM will also positively influence the regional market outlook.

Product Code: 5050

Chapter 1 Methodology and Scope

1.1 Scope & definitions
1.2 Base estimates and calculations
1.3 Forecast calculations
1.4 Data Sources
- 1.4.1 Primary
- 1.4.2 Secondary
  - 1.4.2.1 Paid sources
  - 1.4.2.2 Public sources

Chapter 2 Executive Summary

2.1 Electric off-road vehicle industry 360 degree synopsis, 2018-2032
2.2 Business trends
- 2.2.1 Total Addressable Market (TAM), 2023-2032
2.3 Vehicle trends
2.4 Application trends
2.5 Regional trends

Chapter 3 Electric Off-Road Vehicle Market Industry Insights

3.1 Impact of COVID-19
- 3.1.1 North America
- 3.1.2 Europe
- 3.1.3 Asia Pacific
- 3.1.4 Latin America
- 3.1.5 MEA
3.2 Russia- Ukraine war impact
3.3 Industry ecosystem analysis
- 3.3.1 Component suppliers
- 3.3.2 Technology providers
- 3.3.3 Manufacturers
- 3.3.4 Distributors
- 3.3.5 End-users
- 3.3.6 Profit margin analysis
- 3.3.7 Vendor matrix
3.4 Technology & innovation landscape
- 3.4.1 4WD
- 3.4.2 Twin Shift System
- 3.4.3 Independent suspension
- 3.4.4 Six-speed transmission
3.5 Patent analysis
3.6 Key initiative and news
- 3.6.1 New product launch
- 3.6.2 Partnership/collaboration
- 3.6.3 Mergers/acquisition
- 3.6.4 Investment
3.7 Regulatory landscape
- 3.7.1 North America
- 3.7.2 Europe
- 3.7.3 Asia Pacific
- 3.7.4 Latin America
- 3.7.5 MEA
3.8 Industry impact forces
- 3.8.1 Growth drivers
  - 3.8.1.1 Growing participation in off-road recreational activities in North America
  - 3.8.1.2 Emergence of new players in the electric-off road vehicles industry in Europe
  - 3.8.1.3 Rising awareness related to adoption of electric vehicles in Asia Pacific
  - 3.8.1.4 Positive outlook of the tourism industry in Latin America and MEA
  - 3.8.1.5 Growing investments by OEMs in new product development
- 3.8.2 Industry pitfalls & challenges
  - 3.8.2.1 Safety concerns related to off-road vehicles
3.9 Growth potential analysis
3.10 Porter's analysis
3.11 PESTEL analysis

Chapter 4 Competitive Landscape, 2022

4.1 Introduction
4.2 Company market share, 2022
4.3 Competitive analysis of major market players, 2022
- 4.3.1 Polaris, Inc.
- 4.3.2 Zero Motorcycle
- 4.3.3 KTM AG
- 4.3.4 TACITA S.r.l
- 4.3.5 Hisun Motors
4.4 Competitive analysis of innovation leaders, 2022
- 4.4.1 Alke S.r.l
- 4.4.2 American Landmaster
- 4.4.3 Intimidator Inc.
- 4.4.4 John Deere
- 4.4.5 DRR USA
4.5 Competitive positioning matrix
4.6 Strategic outlook matrix

Chapter 5 Electric Off-Road Vehicle Market, By Vehicle (Revenue & Shipment)

5.1 Key trends, by vehicle
5.2 All-terrain vehicle
- 5.2.1 Market estimates and forecast, 2018-2032
5.3 Side-by-side vehicle/Utility terrain vehicle
- 5.3.1 Market estimates and forecast, 2018-2032
5.4 Off-road motorcycles
- 5.4.1 Market estimates and forecast, 2018-2032

Chapter 6 Electric Off-Road Vehicle Market, By Application (Revenue & Shipment)

6.1 Key trends, by application
6.2 Utility
- 6.2.1 Market estimates and forecast, 2018-2032
6.3 Sports
- 6.3.1 Market estimates and forecast, 2018-2032
6.4 Recreation
- 6.4.1 Market estimates and forecast, 2018-2032
6.5 Military
- 6.5.1 Market estimates and forecast, 2018-2032

Chapter 7 Electric Off-Road Vehicle Market, By Region (Revenue & Shipment)

7.1 Key trends, by region
7.2 North America
- 7.2.1 Market estimates and forecast, by vehicle, 2018-2032
- 7.2.2 Market estimates and forecast, by application, 2018-2032
- 7.2.3
- 7.2.4 U.S.
  - 7.2.4.1 Market estimates and forecast, by vehicle, 2018-2032
  - 7.2.4.2 Market estimates and forecast, by application, 2018-2032
- 7.2.5 Canada
  - 7.2.5.1 Market estimates and forecast, by vehicle, 2018-2032
  - 7.2.5.2 Market estimates and forecast, by application, 2018-2032
7.3 Europe
- 7.3.1 Market estimates and forecast, by vehicle, 2018-2032
- 7.3.2 Market estimates and forecast, by application, 2018-2032
- 7.3.3 UK
  - 7.3.3.1 Market estimates and forecast, by vehicle, 2018-2032
  - 7.3.3.2 Market estimates and forecast, by application, 2018-2032
- 7.3.4 Germany
  - 7.3.4.1 Market estimates and forecast, by vehicle, 2018-2032
  - 7.3.4.2 Market estimates and forecast, by application, 2018-2032
- 7.3.5 France
  - 7.3.5.1 Market estimates and forecast, by vehicle, 2018-2032
  - 7.3.5.2 Market estimates and forecast, by application, 2018-2032
- 7.3.6 Italy
  - 7.3.6.1 Market estimates and forecast, by vehicle, 2018-2032
  - 7.3.6.2 Market estimates and forecast, by application, 2018-2032
- 7.3.7 Russia
  - 7.3.7.1 Market estimates and forecast, by vehicle, 2018-2032
  - 7.3.7.2 Market estimates and forecast, by application, 2018-2032
7.4 Asia Pacific
- 7.4.1 Market estimates and forecast, by vehicle, 2018-2032
- 7.4.2 Market estimates and forecast, by application, 2018-2032
- 7.4.3 China
  - 7.4.3.1 Market estimates and forecast, by vehicle, 2018-2032
  - 7.4.3.2 Market estimates and forecast, by application, 2018-2032
- 7.4.4 India
  - 7.4.4.1 Market estimates and forecast, by vehicle, 2018-2032
  - 7.4.4.2 Market estimates and forecast, by application, 2018-2032
- 7.4.5 Japan
  - 7.4.5.1 Market estimates and forecast, by vehicle, 2018-2032
  - 7.4.5.2 Market estimates and forecast, by application, 2018-2032
- 7.4.6 South Korea
  - 7.4.6.1 Market estimates and forecast, by vehicle, 2018-2032
  - 7.4.6.2 Market estimates and forecast, by application, 2018-2032
7.5 Latin America
- 7.5.1 Market estimates and forecast, by vehicle, 2018-2032
- 7.5.2 Market estimates and forecast, by application, 2018-2032
- 7.5.3 Brazil
  - 7.5.3.1 Market estimates and forecast, by vehicle, 2018-2032
  - 7.5.3.2 Market estimates and forecast, by application, 2018-2032
- 7.5.4 Mexico
  - 7.5.4.1 Market estimates and forecast, by vehicle, 2018-2032
  - 7.5.4.2 Market estimates and forecast, by application, 2018-2032
7.6 MEA
- 7.6.1 Market estimates and forecast, by vehicle, 2018-2032
- 7.6.2 Market estimates and forecast, by application, 2018-2032
- 7.6.3 UAE
  - 7.6.3.1 Market estimates and forecast, by vehicle, 2018-2032
  - 7.6.3.2 Market estimates and forecast, by application, 2018-2032
- 7.6.4 Saudi Arabia
  - 7.6.4.1 Market estimates and forecast, by vehicle, 2018-2032
  - 7.6.4.2 Market estimates and forecast, by application, 2018-2032
- 7.6.5 South Africa
  - 7.6.5.1 Market estimates and forecast, by vehicle, 2018-2032
  - 7.6.5.2 Market estimates and forecast, by application, 2018-2032

Chapter 8 Company Profiles

8.1 Alke S.r.l
- 8.1.1 Business Overview
- 8.1.2 Financial Data
- 8.1.3 Product Landscape
- 8.1.4 Strategic Outlook
- 8.1.5 SWOT Analysis
8.2 American Landmaster
- 8.2.1 Business Overview
- 8.2.2 Financial Data
- 8.2.3 Product Landscape
- 8.2.4 Strategic Outlook
- 8.2.5 SWOT Analysis
8.3 CAKE
- 8.3.1 Business Overview
- 8.3.2 Financial Data
- 8.3.3 Product Landscape
- 8.3.4 Strategic Outlook
- 8.3.5 SWOT Analysis
8.4 Daymak Inc.
- 8.4.1 Business Overview
- 8.4.2 Financial Data
- 8.4.3 Product Landscape
- 8.4.4 Strategic Outlook
- 8.4.5 SWOT Analysis
8.5 DRR USA
- 8.5.1 Business Overview
- 8.5.2 Financial Data
- 8.5.3 Product Landscape
- 8.5.4 Strategic Outlook
- 8.5.5 SWOT Analysis
8.6 Ecocharger Quad Bikes
- 8.6.1 Business Overview
- 8.6.2 Financial Data
- 8.6.3 Product Landscape
- 8.6.4 Strategic Outlook
- 8.6.5 SWOT Analysis
8.7 Electric Motion
- 8.7.1 Business Overview
- 8.7.2 Financial Data
- 8.7.3 Product Landscape
- 8.7.4 Strategic Outlook
- 8.7.5 SWOT Analysis
8.8 Evolet
- 8.8.1 Business Overview
- 8.8.2 Financial Data
- 8.8.3 Product Landscape
- 8.8.4 Strategic Outlook
- 8.8.5 SWOT Analysis
8.9 Hisun Motors
- 8.9.1 Business Overview
- 8.9.2 Financial Data
- 8.9.3 Product Landscape
- 8.9.4 Strategic Outlook
- 8.9.5 SWOT Analysis
8.10 HuntVe
- 8.10.1 Business Overview
- 8.10.2 Financial Data
- 8.10.3 Product Landscape
- 8.10.4 Strategic Outlook
- 8.10.5 SWOT Analysis
8.11 Intimidator Inc.
- 8.11.1 Business Overview
- 8.11.2 Financial Data
- 8.11.3 Product Landscape
- 8.11.4 Strategic Outlook
- 8.11.5 SWOT Analysis
8.12 John Deere
- 8.12.1 Business Overview
- 8.12.2 Financial Data
- 8.12.3 Product Landscape
- 8.12.4 Strategic Outlook
- 8.12.5 SWOT Analysis
8.13 KTM AG
- 8.13.1 Business Overview
- 8.13.2 Financial Data
- 8.13.3 Product Landscape
- 8.13.4 Strategic Outlook
- 8.13.5 SWOT Analysis
8.14 Polaris Inc.
- 8.14.1 Business Overview
- 8.14.2 Financial Data
- 8.14.3 Product Landscape
- 8.14.4 Strategic Outlook
- 8.14.5 SWOT Analysis
8.15 TACITA S.r.l
- 8.15.1 Business Overview
- 8.15.2 Financial Data
- 8.15.3 Product Landscape
- 8.15.4 Strategic Outlook
- 8.15.5 SWOT Analysis
8.16 Vanderhall Motorworks
- 8.16.1 Business Overview
- 8.16.2 Financial Data
- 8.16.3 Product Landscape
- 8.16.4 Strategic Outlook
- 8.16.5 SWOT Analysis
8.17 Volcon
- 8.17.1 Business Overview
- 8.17.2 Financial Data
- 8.17.3 Product Landscape
- 8.17.4 Strategic Outlook
- 8.17.5 SWOT Analysis
8.18 Zero Motorcycle
- 8.18.1 Business Overview
- 8.18.2 Financial Data
- 8.18.3 Product Landscape
- 8.18.4 Strategic Outlook
- 8.18.5 SWOT Analysis