Off-Road Vehicles (ORVs) Market in North America will exhibit around 5

3.14. Porter's analysis
3.15. PESTEL analysis
U.S. Off-Road Vehicles Market, By Vehicle, 2017 & 2024, (USD Million)
North America off-road vehicles (ORVs) market will exhibit around 5% CAGR from
2018 to 2024 owing to presence of major manufacturers such as Polaris Industries,
Kawasaki and Bombardier Recreational Products (BRP). Growing consumer
preference for leisure activities including mountain hiking, snow sports, adventure
racing and motocross events will surge the regional demand.
Side by side vehicle segment will hold considerable volume share over the forecast
timeframe owing to the added advantages such as higher safety and load bearing
capacity as compared to its counterparts. These off-road vehicles are equipped with
multiple seating configuration, seatbelts, windscreen, and roll cages that enhances
the safety and improves the driving experience thereby positively influencing the offroad
vehicles market growth in next six years.
Sports segment will account for more than 40% revenue share over the projected
timeframe. This can be credited to proliferation of sport events such as woods and
sand rides across the globe. Multiple configurations including enhanced power and
torque outputs, diversified engine options coupled with lower maintenance costs are
fueling the segment growth.
KTM, Yahama Motor Co., Suzuki Motors Corporation, Honda Motor. Co., Caterpillar,
Bombardier Recreational Products, Kawasaki Motors Corp., Deere & Company
(John Deere), and Polaris Industries Inc., are among the major ORVs market
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