Global Off-Road High-Performance Vehicle Market Information: by Channel (OEM and Aftermarket), Application (Defense & Recreation) and by Regions – Global Forecast To 2023.
Key players in Off-Road High-Performance Vehicle market mentioned:
Wildcat (U.S.), AEV Conversions (U.S.), Zone Offroad (U.S.), Icon Vehicle Dynamics (U.S.), 4 Wheel Parts (U.S.), Extreme Offroad & Performance (U.S.), Stylin Trucks (U.S.), and Summit Racing Equipment (U.S.).
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The global Off-road high-performance vehicle market has been segmented by channel as original equipment manufacturers and aftermarket. By application, the market has been segmented as recreation and defense. By geography the market has been segmented as Americas, Europe, Asia Pacific and Rest of the world.
The growth of the Asia Pacific region can be attributed to the adoption of passenger cars and therefore, the increase in adoption of Off-road high-performance vehicle in the passenger cars. The recent shift in the preference for mileage to vehicle looks and features is also expected to result in high demand for Off-road high-performance vehicle. The global Off-road high-performance vehicle market is also expected to grow during the forecast period, owing to increasing population, rapid industrialization and aggressive expansion of manufacturing sector.
Mainly due to their lower cost, high mobility and efficiency Off-road high-performance vehicle have become an integral part of irregular warfare. Such rise in demand for Off-road high-performance vehicle from the defense sector is expected to influence the Off-road high-performance vehicle market. With manufacturers now focusing on the development of tailor-made Off-road high-performance vehicle for military application, the market is expected to witness high growth during the forecast period. Off-road High-performance vehicles found widespread defense applications during the world wars. These motorcycles were primarily utilized for liaison, communications and transportation. After the world wars the demand for Off-road high-performance vehicle diminished, and the wartime orders have never returned. Technological development is one of the key growth influencing factors for the Off-road High-performance vehicle market. Inflated defense budgets across the globe is another major factor, expected to provide the Off-road High-performance vehicle market, a boost in the future. Increase in applications of motorcycles in defense is expected to have a major impact on the growth of the Off-road high-performance vehicle market.
Rest of the World comprises of the Middle East and Africa. The Middle East & Africa region has an emerging market owing to the increase in adoption of off-road vehicles in this region. The countries like Brazil are significantly contributing in the growth of the market, owing to the government initiatives, which are pushing for rapid development of the automotive components industry. Additionally, with the Middle Eastern governments looking to reduce their dependency on the oil and gas industry, there exist lucrative opportunities for various industries to thrive in this region.
Yamaha led the volume race in the Off-road high-performance vehicle market with a market share of almost 30%, closely followed by Honda with approximately 23% market share. Yamaha’s WR450F is one of the biggest selling Off-road high-performance vehicles, along with YZ250F topping the sales charts for motocross. The motorcycle industry was going through a stabilizing period in the past few years.
Major Table of Content:
1 Executive Summary
2 Scope Of The Report
2.1 Market Definition
2.2 Scope Of The Study
2.2.2 Research Objective
2.3 Research Process
2.3.1 Primary Research
2.3.2 Secondary Research
2.4 Market Size Estimation
2.5 Forecast Model
3 Market Landscape
3.1 Porter’s Five Forces Analysis
3.1.1 Threat Of New Entrants
3.1.2 Bargaining Power Of Buyers
3.1.3 Threat Of Substitutes
3.1.4 Segment Rivalry
3.1.5 Bargaining Power Of Buyers
3.2 Value Chain/Supply Chain Analysis
4 Market Dynamics
4.2 Market Drivers
4.3 Market Restraints
4.4 Market Opportunities
4.5 Market Trends
The report for Global Off-Road High-Performance Vehicle Market of Market Research Future comprises extensive primary research along with the detailed analysis of qualitative as well as quantitative aspects by various industry experts, key opinion leaders to gain the deeper insight of the market and industry performance. The report gives the clear picture of current market scenario which includes historical and projected market size in terms of value, technological advancement, macro economical and governing factors in the market. The report provides details information and strategies of the top key players in the industry. The report also gives a broad study of the different market segments and regions.
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