ATV Industry Facts: Did You Know?

Unbiased state of affairs.

Global Marketing Insights is a company that thoroughly researches industries and provides insights on whether or not their future looks bright so that investors don’t throw good money away. Just how thorough are these guys? Their report on our little corner of the woods came in at 220 pages with 248 market data tables & 13 figures & charts to study.

The more important question is what did they determine, right? Growth! Lot’s of it. They conclude the U.S. Off-Road Vehicles Market size is estimated to surpass USD $13.5 billion by 2024.

“Changing lifestyle with increasing participation in outdoor activities will positively influence the U.S. ORVs market share over the forecast period. Government is taking initiatives to enhance participation in recreational activities. For instance, the U.S. Recreation Government in partnership with the Bureau of Land Management, National Park Service, and the U.S. Forest Service provides around 3,000 facilities for activities including camping, hunting, and trailing.”

They go on to say that increasing utility activities, such as construction, agriculture, and mining, will propel the industry growth. ORVs are capable of operation on variable natural terrains and carrying heavy weights. High torque generation, superior traction, and stability further advocate its usage in non-conventional terrains.

As expected they say that the Side-by-Side is heading the charge and that they lead the industry size owing to their applications in sports, utility, and recreational activities. Industry players are upgrading their product portfolio for multiple functionalities and more affordability. For instance, in June 2018, BRP announced to launch Can-Am SXS for recreation and utility purposes. Moreover, easy finance availability will escalate the U.S. ORVs market growth over the forecast timeline.

Bonus Fact: There is far too much information to report here but giving the condensed findings a view is certainly an interesting read. You can view those directly here.