Transparency Market Research
Recreational off-highway vehicles are used for outdoor activities. Four-seater and two-seater recreational off-highway vehicles are available in the market. These vehicles are equipped with a steering wheel, roll over cage, and seatbelts. A recreational off-highway vehicle are equipped with four or more low pressure tires. The recreational off-highway vehicle has good maneuverability on uneven terrains and has minimum top speed of 30 mph.
Sales of recreational off-highway vehicles have increased substantially post credit crisis of 2008. Rise in disposable income has increased expenditure on recreation. This, in turn, is projected to boost the recreational off-highway vehicles market. Increase in the number of young consumers and surge in the number of rallies and off-road racing activities are expected to drive the demand of these vehicles. Rise in tourism and outdoor activities is expected to boost the recreational off-highway vehicles market. Adoption of and improvement in safety standards for recreational off-highway vehicles have increased consumer confidence, thus spurring sales. The U.S. Consumer Product Safety Commission sets strict safety standards for recreational off-highway vehicles. Demand for electric recreational off-highway vehicles is expected to increase, as governing authorities are focusing on minimizing carbon footprint on natural trails that these vehicles are driven on. Electric off-highway recreational vehicles have low operational cost and thus there demand is expected to rise. The off-highway recreational vehicles have less demand in developing countries with low consumer spending thus acting as a restraining factor for the recreational off-highway vehicles market.
The global recreational off-highway vehicles market can be classified based on engine type, engine capacity, and region. In terms of engine type, the recreational off-highway vehicles market can be segmented into gasoline, diesel, and electric. Gasoline engines are preferred for recreational off-highway vehicles, as these are lightweight and provide high-performance. The gasoline type recreational vehicle are expected to dominate the global recreational off-highway vehicles market as they are less polluting than diesel and offers good pickup speeds. Electric engines for the use in these vehicles are at a nascent stage. Demand for these vehicles with electric engines is projected to increase in the near future due to the rising emphasis on curbing pollution.
By engine capacity the global recreational off-highway vehicles market is segmented under less than or equal to 750cc & greater than 750cc engine capacity, the recreational off-highway vehicles market with less than equal to 750 cc engines capacity contributed to higher market share. Several recreational off-highway vehicle manufactures offer engines with capacity of 900 cc and 1000 cc. However, the less than and equal to 750 cc engines segment is expected to dominate the recreational off-highway vehicles market during the forecast period.
In terms of region, the global recreational off-highway vehicles market can be divided into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America is expected to dominate the global recreational off-highway vehicles market due to high preference for off-road activities in the U.S.
Key players operating in the global recreational off-highway vehicles market include Polaris, Yamaha Motor Co., Ltd., Bennche, LLC, American Honda Motor Co., Inc., and John Deere.
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