Off-Road Vehicles Market Size, Share, Trends, Forecast, & Growth Analysis
The off-road vehicles market was estimated at USD 14,882.4 million in 2021 and is likely to grow at a CAGR of 7.6% during 2022-2027 to reach USD 24,041.4 million in 2027. Market Drivers: The major drivers propelling the growth of the global market are- Rising demand for recreational activities - Off-road vehicles\' demand is growing with the rising interest in recreational activities and outdoor adventures. Vehicles that can handle rugged terrains and provide a smooth off-road experience are high in demand. Growing interest in off-road activities – There is a significant popularity of off-road sports such as motocross, rally racing, rock crawling, etc. Enthusiasts or fans of such sports often purchase off-road vehicles to participate in any competition.