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Off-Road Vehicles Market Size
- Report ID: GMI2321
- Published Date: Dec 2022
- Report Format: PDF
Off-Road Vehicles Market Size
Off-Road Vehicles Market size surpassed USD 20 billion in 2022 and is slated to grow at over 8% CAGR from 2023 to 2032, driven by the increasing development of electric off-road vehicles in Europe.
With a mountainous and rocky terrain in the region, Europe offers a wide opportunity for regional growth. Countries like the UK, France and Germany have been witnessing a growing uptake of electric off-road vehicles, especially from the millennial population. In early November 2022, the EU banned the sale of new petrol and diesel cars from 2035, to curb CO2 emissions in the continent. Electric alternatives are gaining a strong foothold in Europe as they do not run on fossil fuel, driving industry demand.
| Report Attribute | Details |
|---|---|
| Base Year: | 2022 |
| Off-Road Vehicles Market Size in 2022: | USD 20 Billion |
| Forecast Period: | 2023 to 2032 |
| Forecast Period 2023 to 2032 CAGR: | 8% |
| 2032 Value Projection: | USD 45 Billion |
| Historical Data for: | 2018 to 2022 |
| No. of Pages: | 300 |
| Tables, Charts & Figures: | 342 |
| Segments covered: | Vehicle, Propulsion Type, and Application |
| Growth Drivers: |
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| Pitfalls & Challenges: |
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Frequently Asked Questions (FAQ) :
Off-Road Vehicles Market Scope
