ROVs Market: Sales in North America are Likely to Surpass 159 Thousand Units by 2018

Rockville, USA, 2019-Jun-18 — /EPR Network/ —Growing spending on outdoor recreation, especially among millennials, continues to be a driving force for the off-highway recreational vehicles market, finds a new research study by Fact.MR. The market is likely to grow at a CAGR of nearly 16% through 2028, as a growing demographic of outdoor enthusiasts drives demand. The bullishness in the market can be offset by regulatory pressures concerning the threat to environment and rural communities.

A new breed of machine with fun, versatility and functionality—recreational off-highway vehicles (ROVs)—have been garnering attention of outdoor mavericks in huge numbers. Known mainly for recreational use; recreational off-highway vehicles have carved a niche in the workplace, incorporating construction, farming, namely. From transporting gear to a favorite campsite or exploring the scintillating outdoors, ROVs have been the apt choice.

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The growing incorporation of sensors and electronics has led to the robust development of electrical hybrid vehicles(EHVs). As such, recreational off-highway vehicles industry persists to survey various electrification levels, incorporating mild hybridization, full electrification. Besides, the advent of artificial intelligence (AI and popularity of electro-hydraulic actuators are expected to fuel the growth of recreational off-highway vehicles (ROVs).

The report on recreational off-highway vehicles (ROVs) market reflects a holistic angle considering all elements of the market. A 360 degree view of the entire market along with detailed segmental analysis across important geographies has been covered in the report. Analysis on key segments
such as fuel type, vehicle type, application, engine displacement, speed, sales channel and region has been covered in the report. The report offers value and volume analysis on these segments across major regions. Drawing inferences from regional trends that support the growth of the recreational off-highway vehicles (ROVs) market and estimations on the current regional market scenario have been compiled in this research report.

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Need for Speed Fuels Petrol Variants, Electric Gaining Ground Steadily

The prevailing low crude oil prices have meant that sales of petrol recreational off highway vehicles have remained robust. According to the report, petrol recreational off highway vehicle sales totaled nearly 166 thousand units in 2017 – higher than both diesel and electric variants.

End-users continue to show a marked preference for 4-seater off highway recreational vehicles. 4-seater off highway recreational vehicles will continue to be the top-selling variant, with 2-seater and crew size following suit. On account of this, the market is likely to witness launch of high-power 4-seater petrol variants during the assessment period.

Recreational Off-Highway Vehicles (ROVs) Market: Competitive Landscape

The coherent analysis of competitive scenario of the recreational off-highway vehicles market is backed up by the Porters’ Five Force Analysis. Further, the Porters’ Five Force Analysis focuses on feasible strategies of the pertinent players in the recreational off-highway vehicles market. Additionally, the report also elucidates SWOT analysis, company profile, product portfolio, recent development, company profile, key differentiation and annual revenue.

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