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U.S. Off-Road Vehicles Market Analysis

Report ID: GMI3074
Published Date: Sep 2023
Report Format: PDF

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U.S. Off-Road Vehicle Market Analysis

U.S. Off-Road Vehicle Market Size, By Vehicle, 2021-2032, (USD Billion)

The UTV segment held over 60% of the U.S. off-road vehicle market share in 2022, due to increasing recreational activities. The strong presence of established industry players and the launch of technically advanced products in the U.S. will further complement the growing market. For instance, in August 2022, Arctic Cat announced its 2023 lineup of off-road vehicle models. The product line-up includes the Alterra, Wildcat, and Prowler UTV models. This launch emphasizes the company’s strategic focus on R&D and new product developments.

U.S. Off-Road Vehicle Revenue Market Share, By Application, 2022

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The recreation segment accounted for 36% of the U.S. off-road vehicle market share in 2022, driven by the country's vast and diverse landscape, which offers numerous opportunities for outdoor adventure. Off-road enthusiasts are drawn to the thrill of exploring rugged terrains, including trails, forests, deserts, and mountains. Additionally, recreational off-roading aligns with the desire for socially distanced outdoor activities, particularly in the wake of the COVID-19 pandemic. The versatility and adrenaline rush offered by off-road vehicles, such as all-terrain vehicles (ATVs) and side-by-sides, make them a favored choice for individuals and families seeking exhilarating recreational experiences in the great outdoors.

Texas Off-Road Vehicle Market Size, 2021-2032 ( USD Billion)

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Texas off-road vehicle market recorded more than 10% of revenue share in 2022, led by the vast and varied landscapes across the state, ranging from deserts and dunes to forests and ranchlands. The state's extensive network of off-road trails and parks provides ample opportunities for enthusiasts to explore and enjoy outdoor adventures. Texas hosts numerous off-road events and rallies, such as the Rednecks with Paychecks Off-Road, attracting thousands of participants annually. Additionally, the state's strong ranching and agricultural sectors utilize off-road vehicles for practical purposes, further fueling the demand for off-road vehicles in Texas.

Authors: Preeti Wadhwani

Frequently Asked Questions (FAQ) :

The market size for off-road vehicle in the U.S. reached USD 10.6 billion in 2022 and is set to witness 7.5% CAGR between 2023 and 2032, due to the favorable government initiatives for promoting the shift toward electric mobility in the country.

The recreation application segment held over 36% of the market share in 2022, owing to the vast and diverse landscape offering numerous opportunities for outdoor adventure in the country.

Texas garnered over 10% share of the U.S. off-road vehicle market in 2022, attributed to the vast and varied landscapes across the state, ranging from deserts and dunes to forests and ranchlands.

Some of the major off-road vehicle providers in the U.S. include Artic Cat, Bombardier Recreational Products (BRP), Hisun Motors, Honda Motor Co. Ltd., and Kawasaki.