Market Research Report
Global Off-road Vehicle Market 2019-2023
|Published by||TechNavio (Infiniti Research Ltd.)||Product code||785658|
|Published||Content info||127 Pages
Delivery time: 1-2 business days
|Global Off-road Vehicle Market 2019-2023|
|Published: January 29, 2019||Content info: 127 Pages||
Increasing outdoor recreational activities are benefiting the off-road vehicle market in regions such as North America and Europe. Mountain racing and dirt racing activities are gaining popularity amid a growing number of sports enthusiasts. The growth in tourism will promote off-recreational activities globally and requires governments to focus on developing tourism hubs, which will increase sales of off-road vehicles further. Off-road motorcycle or adventure motorcycle was a niche market a decade ago. Changing lifestyles, adoption of recreational activities by the youth and middle-age population and improving tourism infrastructure are the major factors driving the off-road vehicle market in emerging countries. Hence, Technavio expects the rise in recreational and adventure sports activities to drive the global off-road vehicle market during the forecast period. Technavio's analysts have predicted that the off-road vehicle market will register a CAGR of over 4% by 2023.
GPS navigation services have been developed for off-road vehicles. GPS devices are no longer used just for mapping, but also for preparing for off-roading adventures, locating difficult-to-find off-roading locations, and ensuring safety. Off-road vehicles encounter rough weather conditions such as snow, wind, sand, and dense fog. The development of the GPS navigation system for off-roading to be a driving factor for the global off-road vehicle market during the forecast period.
Off-road racing activities can erode the soil. increase soil bulk density. soil strength. and soil permeability. Generally, soil bulk density and strength increase with compaction, while permeability decreases. Hence, such adverse effects of racing activities on the environment and the ecosystems pose a threat to the legibility of such bikes, thereby challenging the growth of the global off-road vehicle market.
For the detailed list of factors that will drive and challenge the growth of the off-road vehicle market during the 2019-2023, view our report.
The off-road vehicle market appears to be moderately fragmented and with the presence of several companies. This market research report will help clients identify new growth opportunities and design unique growth strategies by providing a comprehensive analysis of the market's competitive landscape and offering information on the products offered by companies.