Off-Road High-Performance Vehicle market key Company reviewed in report:
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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Off-Road High-Performance Vehicle Market Synopsis:
The global automotive industry went through a prolonged period of rise and growth for many decades. The situation was more or less the same until the biggest recession in the last 70 years hit the global economy in 2008. This resulted in major cut down in the production by all major global automotive players which resulted in mass scale job slacking. The condition remained the same for almost 6 months after which the first sign of improvement was seen. The automotive industry was one of the hardest to be hit by this crisis. To come out of the situation successfully and make up for the huge losses incurred, the bigger players came up with the marketing of the innovative and practically useful off road vehicle. The revenues of the major players started increasing to the point where all the players started showing profits albeit in smaller numbers. Some of the biggest automotive company like Honda derived close to 40% of its total global revenue from the sale of off roaders. The industry analysts also attributed the growth of the off roader market to the shrinking popularity of the conventional two wheelers. Hence major players in the market dedicated substantial chunk of their revenue to the research and development of the off road vehicles. The recent shift in preference from budget & high mileage automobiles to high performance & aesthetic appeal also contributes to the growth of this market. The rapid industrialization, expansion of automobile industries into newer territories and awareness about off roaders in general, in the customer’s perception drives the market further.
With every major motorcycle manufacturer pushing for product development and innovation in their Off-road segments, the market has flooded with high-quality products across various prices ranges. The shrinking global scooter market is another indication towards growing adoption of entry-level motorcycles by new customers in the market. Major automotive manufacturer Honda derives a significant chunk of its revenue for their motorcycles division (USD 410 million), of which Off-road high-performance vehicles is a major segment.
Off-Road High-Performance Vehicle Market Segmentation:
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.
Segmentation by Channel: Comprises of OEM and Aftermarket.
Segmentation by Application: Comprises of Defence & Recreation.
Segmentation by Regions: Comprises Geographical Regions – North America, Europe, Asia Pacific and Rest of the World.
Off-Road High-Performance Vehicle Market Regional Analysis:
The off-road high-performance vehicle market is seeing an explosive growth across all countries. The North America market is expected to lead the global demand for the off road vehicles. The automobile customers in this region prefer large personal automobiles which high performance, occupy large space and can be doubles up a carriage lorries. This region is known for the vast stretches of barren or empty land and fantastic road infrastructure. The people here prefer to take their personal vehicles for undertaking leisure and work related travel. The vast roads and easy accessibility to cheap fuel causes the undertaking of off road activities to a large extent. The Asia Pacific region is considered to be the next biggest automotive hub of in the coming decade. The rising number of middle class, the rising purchase power of the common people and the rising population causes the sales of automobiles to increase exponentially for continued period. The off road vehicles are generally preferred by people with a large purchasing power and also by those where the extent of rough terrain in the geographical territory in that country is huge. In a country like India and China, the presence of the huge and extensive mountain ranges, prominent among them being the Himalayas is expected to rise the sales of the off road vehicles. The cheap labour and extensive manufacturing facilities in this region further add to growth of this market in this region.
Off-Road High-Performance Vehicle Industry Developments:
November, 2017 – For many years American Expedition Vehicles has maintained a reputation for making a bold statement at the annual Specialty Equipment Market Association (SEMA) show. On 31st October 2017, Chevrolet opened its account in the SEMA display by unveiling the brand new Chevrolet Colorado ZR2 AEV Concept Automobile. This vehicle is essentially a collaboration integrating several AEV components and parts on to the Chevrolet’s already off-road compatible ZR2 Platform to bring out a kind of synergistic effect.
May, 2017 – The 4 Wheel Parts Company which possess an arsenal of variety of accessories manufactured specifically for large trucks, SUVs, and 4 wheel drive vehicles. Along with tires and wheels, exterior parts like light kits and running boards are also made easily available. It is therefore, that the company has been voted as the number 1supplier for deals on trucks, SUVs and 4 wheel drive vehicles.
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
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