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U.S. Off-Road Vehicles Market Trends

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

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U.S. Off-Road Vehicle Market Trends

The trend towards electric off-road vehicles, including electric all-terrain vehicles (eATVs) and electric utility task vehicles (eUTVs), was gaining momentum. Consumers and manufacturers alike were becoming more interested in electric off-road options due to their quieter operation, lower emissions, and potential for reduced operating costs.

For instance, in August 2022, Volcon announced to use General Motors' proven & tested electric propulsion systems in all its off-road UTVs. This includes Volcon Stag, the company's flagship UTV unveiled to the public in July 2022. As Volcon is committed to improving its off-road vehicle performance and sustainability, this agreement will help bring the power of EVs to more people faster.

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.