June 01, 2021
According to the research 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 Market Study Report, worldwide electric off-road vehicles market is speculated to witness a surge in the revenue during 2021-2027.
High product demand for different purposes like utility, recreational, sports, and military, coupled with inclination towards electric engines to minimize carbon emissions are primarily impelling the growth of global electric off-road vehicles market.
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Further, increasing involvement of people in various recreational activities in forest, hilly, and muddy areas will bolster the demand for electric off-road automobiles.
Apparently, internal combustion engines (ICE) cause high level of pollution on rough terrains, in comparison to which electric sand rails, road crawlers as well as electric jeeps, SUVs, and trucks are environmentally sustainable option.
Based on vehicle, global electric off-road vehicles industry is categorized into side by side vehicle (SSV)/ utility task vehicle (UTV), all-terrain vehicle (ATV), and off-road motorcycles, of which, SSV/UTV segment is expected to see a rise in the demand over 2021-2027, pertaining to multipurpose use. With the availability of side by side seating, these automotive provide enough storage space. The ability of a UTV to haul supplies and equipment to sites where truck reach is impractical is likely to drive the sales.
Moving on, the application range of global electric off-road vehicles market include sports, military, utility, and recreation. The report cites that sports segment is likely to witness a rapid surge over the study period, due to increase in the number of adventure sports events globally.
Geographically, Middle East & Africa is slated to lead the worldwide electric off-road vehicles market forecast through 20267. Thriving tourism industry and increase in the frequency of recreational activities are the key factors that will drive the regional growth. Moreover, Abu Dhabi has been extensively promoting its off-road driving due to its varied landscape, hence fostering the demand for off-road vehicles.
Numerous companies have launched their vehicles to cash out the rapid surge in global electric off-road vehicles market. Some players profiled in the report are Jiangsu Linhai Power Machinery Group Corp., TACITA S.r.l., Electric Motion, KTM AG, HISUN Motors, DRR USA, Daymak Inc., ALKE’ S.r.l., Deere & Co., Eco Charger Quad Bikes, Intimidator Inc., Massimo Motors, Polaris Inc., and Zero Motorcycles.