As per the business intelligence report titled ‘Electric Off-Road Vehicles Market Size By Vehicle (ATV, SSV/UTV, Off-Road Motorcycles), By Application (Utility, Sports, Recreation, Military), Industry Analysis Report, Regional Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2021 - 2027’, available with MarketStudyReport, global electric off-road vehicles market is expected to register a healthy growth rate during the forecast period 2021-2027.
 

Global electric off-road vehicles market is mainly driven by strong demand from several application avenues such as utility, sports, recreational, and military. Besides, electric off-roaders are increasingly gaining popularity among customers as the combustion-engine powered off-road vehicles generate a lot of pollution.

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Considering vehicle type, the market is divided into off-road motorcycles, ATV, and SSV/UTV. Of these, SSV/UTV segment is slated to garner strong demand during the assessment timeframe owing to the product versatility for several applications.

UTVs (utility terrain vehicles) are designed and used for work purpose rather than recreational. This vehicle type are generally large and powerful, offer seats mainly side by side, and possess large amount of storage space. UTVs are commonly utilized to transport supplies and equipment to sites.  

In terms of application, worldwide electric off-road vehicles industry is fragmented into military, sports, recreation, and utility. Among these, the sports segment is expected to witness substantial growth through 2027, creditable to rising popularity of adventure sports around the world.

From a geographical standpoint, North America (U.S., Canada), Europe (United Kingdom, France, Germany, Russia, Italy), Asia Pacific (India, China, South Korea, Japan), Latin America (Mexico, Brazil), and MEA (Saudi Arabia, South Africa, UAE) are the major geographies highlighted in the research report.

MEA market is touted to exhibit strong growth trends in the upcoming years owing to booming tourism sector and subsequent proliferation of recreational activities in this avenue. Moreover, the Abu Dhabi government has developed routes that favor off-road driving. Apart from this, increasing population and rising spending capacity of customers are stimulating the regional industry growth.

Speaking of the competitive landscape, major players influencing global electric off-road vehicles market trends are Polaris Inc., Electric Motion, Massimo Motor, KTM AG, Intimidator Inc., Hisun Motors Corp., Eco Charger Quad Bikes, DRR USA, Deere & Co., Daymak Inc., and Alke S.r.l among others.