How big is the Off-road Vehicle Market?

The Off-road Vehicle Market size is expected to reach USD 16.72 billion in 2024 and grow at a CAGR of 4.12% to reach USD 20.46 billion by 2029. Read More

What is the current Off-road Vehicle Market size?

In 2024, the Off-road Vehicle Market size is expected to reach USD 16.72 billion. Read More

Who are the key players in Off-road Vehicle Market?

Arctic Cat Inc., Bombardier Recreational Products Inc., Honda Motor Co. Ltd, Polaris Inc. and Yamaha Motor Co. Ltd are the major companies operating in the Off-road Vehicle Market. Read More

Which is the fastest growing region in Off-road Vehicle Market?

Asia-Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029). Read More

Which region has the biggest share in Off-road Vehicle Market?

In 2024, the North America accounts for the largest market share in Off-road Vehicle Market. Read More

What years does this Off-road Vehicle Market cover, and what was the market size in 2023?

In 2023, the Off-road Vehicle Market size was estimated at USD 16.06 billion. The report covers the Off-road Vehicle Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Off-road Vehicle Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029. Read More

What trends are influencing the Off-Road Vehicle Market?

Current trends in the Off Road Vehicle Market are a) Increasing adoption of UTVs (Utility Task Vehicles) b) Integration of GPS and IoT in vehicles c) Shift towards electric and hybrid models Read More

What are the key factors driving the Off-Road Vehicle Market?

Key factors driving the Off-Road Vehicles Market are a) Increasing sports and recreational activities b) Demand for utility vehicles in agricultural and industrial sectors c) Advancements in vehicle technologies Read More

Off-Road Vehicle Market - Share & Statistics - Polaris All-Terrain Vehicle (ATV)

Off-Road Vehicle Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)

The Off-Road Vehicle Market is Segmented by Vehicle Type (All-terrain Vehicle (ATV) and Utility Task Vehicle (UTV)), Application Type (Sports, Agricultural, and Other Applications), and Geography (North America, Europe, Asia-Pacific, and Rest of the World). The report offers market size and forecasts for the off-road vehicle market in value (USD billion) for all the above segments.

Off-Road Vehicle Industry Overview

The off-road vehicle market is dominated by numerous players. The key market players in the industry emphasize introducing new products and technologies to attract customers worldwide. Some of the major players, like Arctic Cat, Polaris Industries, and Bombardier Recreational Products (BRP), captured significant shares of the market. Electric ATVs and UTVs are expected to offer lucrative opportunities for players in the industry over the coming years.

In March 2022, Polaris Inc. expanded its distribution facility in Wilmington, Ohio. Through this expansion, the company enhanced distribution capacity, expanded product assortment, improved delivery, customer service, and optimized operations across North America.
In February 2022, Polaris Inc. collaborated with Wallbox N.V., a leading provider of electric vehicle (EV) charging and energy management solutions worldwide. Through this collaboration, Wallbox provides charging solutions for Polaris electric vehicles in the United States and Canada.
In March 2021, Arctic Cat announced the launch of the 2022 snowmobile line-up. The new Thundercat offers electronic power steering (EPS) for the first time on a high-performance, turbocharged sled. The BLAST line-up welcomes two new sleds to the family with the addition of the BLAST XR 4000 and BLAST XR Touring 4000, the first mid-sized touring sled.
In March 2021, BRP invested USD 300 million over the next five years to electrify its existing product lines by the end of 2026. BRP developed its Rotax modular electric powerpack technology in-house, which may be leveraged across all product lines.
In November 2020, American Landmaster revealed its all-new line-up of 2021 side-by-sides called the Landmaster. The 2021 Landmaster UTVs are equipped with over 30 new customer and dealer-inspired features, a best-in-class suspension system, automotive-grade components, and a weather-sealed electrical system.