Yamaha led the volume race in the Off-road high-performance vehicle market with a market share of almost 30%, closely followed by Honda with approximately 23% market share. Yamaha’s WR450F is one of the biggest selling Off-road high-performance vehicles, along with YZ250F topping the sales charts for motocross. The motorcycle industry was going through a stabilizing period in the past few years. The industry as a whole is expected to return to rapid surge in demand specifically with the industries Off-road high-performance vehicle segment growing in popularity among individuals. With every major motorcycle manufacturer pushing for product development and innovation in their Off-road segments, the market has flooded with high-quality products across various prices ranges. The shrinking global scooter market is another indication towards growing adoption of entry-level motorcycles by new customers in the market. Major automotive manufacturer Honda derives a significant chunk of its revenue for their motorcycles division (USD 410 million), of which Off-road high-performance vehicles is a major segment.
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Off-Road High-Performance Vehicle Market Companies Analyzed in report:
Wildcat (U.S.), AEV Conversions (U.S.), Zone Offroad (U.S.), Icon Vehicle Dynamics (U.S.), 4 Wheel Parts (U.S.), Extreme Offroad & Performance (U.S.), Stylin Trucks (U.S.), and Summit Racing Equipment (U.S.).
Mainly due to their lower cost, high mobility and efficiency Off-road high-performance vehicle have become an integral part of irregular warfare. Such rise in demand for Off-road high-performance vehicle from the defense sector is expected to influence the Off-road high-performance vehicle market. With manufacturers now focusing on the development of tailor-made Off-road high-performance vehicle for military application, the market is expected to witness high growth during the forecast period. Off-road High-performance vehicles found widespread defense applications during the world wars. These motorcycles were primarily utilized for liaison, communications and transportation. After the world wars the demand for Off-road high-performance vehicle diminished, and the wartime orders have never returned. Technological development is one of the key growth influencing factors for the Off-road High-performance vehicle market. Inflated defense budgets across the globe is another major factor, expected to provide the Off-road High-performance vehicle market, a boost in the future. Increase in applications of motorcycles in defense is expected to have a major impact on the growth of the Off-road high-performance vehicle market.
The global Off-road high-performance vehicle market has been segmented, by channel as original equipment manufacturers and aftermarket. By application, the market has been segmented as recreation and defense. By geography the market has been segmented as Americas, Europe, Asia Pacific and Rest of the world.
The growth of the Asia Pacific region can be attributed to the adoption of passenger cars and therefore, the increase in adoption of Off-road high-performance vehicle in the passenger cars. The recent shift in the preference for mileage to vehicle looks and features is also expected to result in high demand for Off-road high-performance vehicle. The global Off-road high-performance vehicle market is also expected to grow during the forecast period, owing to increasing population, rapid industrialization and aggressive expansion of manufacturing sector.
Target Audience of Report:
Research Institute / Education Institute
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