Home > Automotive > Mobility > Recreational Vehicles > Electric Off-Road Vehicles Market
Electric Off-Road Vehicles Market Size
- Report ID: GMI5050
- Published Date: Mar 2023
- Report Format: PDF
Electric Off-Road Vehicles Market Size
Electric Off-Road Vehicle Market size surpassed USD 100 million in 2022 and is anticipated to grow at 12% CAGR from 2023 to 2032 driven by increasing spending by OEMs towards new product innovations.
With tightening emission guidelines restricting the capabilities of ICE-powered vehicles, many industry players are making notable investments towards the electrification of their off-road models through R&D. Citing an instance, in January 2023, Okinawa Autotech, an Indian electric two-wheeler manufacturer, inked a new joint venture with TACITA S.r.l, an Italian manufacturer of electric off-road vehicles, to establish its first R&D centre in Italy. The facility will focus on novel product innovations and the creation of a brand-new e-powertrain that supports the next generation of e-vehicles.
| Report Attribute | Details |
|---|---|
| Base Year: | 2022 |
| Electric Off-Road Vehicle Market Size in 2022: | USD 100 million |
| Forecast Period: | 2023 to 2032 |
| Forecast Period 2023 to 2032 CAGR: | 12% |
| 2032 Value Projection: | USD 400 million |
| Historical Data for: | 2018 to 2022 |
| No. of Pages: | 150 |
| Tables, Charts & Figures: | 245 |
| Segments covered: | Vehicle, Application |
| Growth Drivers: |
|
| Pitfalls & Challenges: |
|
Frequently Asked Questions (FAQ) :
Electric Off-Road Vehicle Market Scope
