PUBLISHER: The Business Research Company | PRODUCT CODE: 1670885
PUBLISHER: The Business Research Company | PRODUCT CODE: 1670885
Recreational off-highway vehicles (ROVs) are motorized vehicles specifically designed for off-road use, intended for recreational enjoyment in outdoor settings such as trails, dunes, and challenging terrains. These vehicles are often employed for recreational racing events and organized tours, offering a combination of performance, durability, and adaptability that allows users to navigate rough terrain and partake in exciting off-road adventures.
The primary types of recreational off-highway vehicles include gasoline-powered vehicles, diesel-powered vehicles, and electric-powered vehicles. Gasoline-powered vehicles are equipped with internal combustion engines that burn gasoline as fuel. These vehicles, including all-terrain vehicles, utility task vehicles, snowmobiles, and others, are available through online and offline channels for various applications such as individual use, fleet applications, rental services, sports, and agriculture.
The recreational off-highway vehicles market research report is one of a series of new reports from The Business Research Company that provides recreational off-highway vehicles market statistics, including recreational off-highway vehicles industry global market size, regional shares, competitors with a recreational off-highway vehicles market share, detailed recreational off-highway vehicles market segments, market trends and opportunities, and any further data you may need to thrive in the recreational off-highway vehicles industry. This recreational off-highway vehicle market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The recreational off-highway vehicles market size has grown rapidly in recent years. It will grow from $10.35 billion in 2024 to $11.69 billion in 2025 at a compound annual growth rate (CAGR) of 12.9%. The growth in the historic period can be attributed to increased disposable incomes, rise in participation in recreational activities, increased demand for adventure tourism, rising interest in off-road activities, shift towards eco-friendly options
The recreational off-highway vehicles market size is expected to see rapid growth in the next few years. It will grow to $19.97 billion in 2029 at a compound annual growth rate (CAGR) of 14.3%. The growth in the forecast period can be attributed to rising popularity of off-road recreation, increased spending on leisure and adventure activities, increasing demand for improved performance, safety features, and comfort, regional expansion. Major trends in the forecast period include development of advanced and feature-rich recreational off-highway vehicles, introduction of electric recreational vehicles, integration of smart features, such as gps navigation, bluetooth connectivity, and mobile app integration, strategical promotional events.
The rising demand for outdoor recreational activities is expected to fuel the growth of the recreational off-highway vehicles (OHVs) market. Outdoor recreational activities refer to leisure pursuits that occur in natural settings. OHVs facilitate these activities by enabling users to navigate off-road terrains, granting access to remote and less-traveled areas that are often difficult to reach with conventional vehicles. For example, a report by the Outdoor Foundation, a US-based non-profit organization, revealed that in December 2023, the number of outdoor recreation participants increased by 2.3% in 2022, reaching a record high of 168.1 million, which accounts for 55% of the U.S. population aged 6 and older. Thus, the growing interest in outdoor recreational activities is driving the expansion of the recreational off-highway vehicles market.
The growth of the recreational off-highway vehicles market is further fueled by increasing disposable income. Disposable income, the amount available for spending and saving after tax deductions, plays a pivotal role in driving expenditure on leisure activities. In October 2023, the disposable personal income per capita in the United States rose to $60,898, reflecting an increase from $60,738 the previous month and $57,215 the previous year. This rise in disposable income contributes to the expanding market for recreational off-highway vehicles.
A key trend in the recreational off-highway vehicles market is product innovation, with major companies developing cutting-edge products to enhance their market position. For example, Polaris Inc. unveiled its 2024 snowmobile and snow bike portfolio in March 2023, featuring new innovations and improved features for enhanced performance, control, and agility. This commitment to innovation strengthens companies' competitive edge in the recreational off-highway vehicles market.
Major companies in the recreational off-highway vehicles market are focusing on developing engine braking systems to ensure a smoother riding experience across various terrains. An engine braking system utilizes the engine's resistance to decelerate a vehicle, reducing reliance on traditional brakes. For example, in August 2024, Polaris Off-Road, a US-based manufacturer of off-road vehicles, launched an upgraded RZR Pro lineup for 2025. This new lineup features redesigned models and rider-inspired enhancements that boost customer value. Key highlights include an expanded two-year warranty, updated features, and new color options throughout the lineup. Noteworthy additions consist of a new model in the Sportsman series and improvements to the RZR series, with a focus on advanced technology and performance. Enhanced features like GPS navigation and dynamic suspension adjustments further elevate the overall riding experience.
In June 2022, Arctic Cat Inc. (Textron Inc.) partnered with Avalanche Education Group and the American Institute for Avalanche Research and Education (AIARE) to enhance avalanche awareness, training, safety, and education programs. This collaboration aims to expand the reach of avalanche safety information, ensuring that a broader audience of snowmobile enthusiasts can safely enjoy their rides in the backcountry.
Major companies operating in the recreational off-highway vehicles market include Honda Motor Co. Inc., John Deere GmbH & Co., Suzuki Motor Corporation, Yamaha Motor Co. Ltd., Textron Inc., Polaris Inc., Bombardier Recreational Products Inc. (BRP), Linhai Powersports USA, Hisun Motors Corp USA, Kandi Technologies Group Inc., Ontario Drive & Gear Limited, Intimidator Inc., ODES Industries LLC, KYMCO USA Inc., Massimo Motor Sports LLC, Cub Cadet, Pitster Pro, Tao Motor Inc., Bennche LLC, Mahindra North America Inc., New Holland Rochester Inc., Bintelli Powersports, Stealth Electric Bikes Pty Ltd, BMS Motorsports Inc., Rival Motorsports Ltd., CFMOTO Powersport Inc., SSR Motorsports, Kawasaki Motors Corp., Joyner USA.
North America was the largest region in the recreational off-highway vehicles market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the recreational off-highway vehicles market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
The countries covered in the recreational off-highway vehicles market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Spain, Canada.
The recreational off-highway vehicles market consists of sales of off-highway motorcycles or dirt bikes, motocross, enduro motorcycles, and adventure bikes. Values in this market are 'factory gate' values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Recreational Off-Highway Vehicles Global Market Report 2025 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on recreational off-highway vehicles market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for recreational off-highway vehicles ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The recreational off-highway vehicles market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The forecasts are made after considering the major factors currently impacting the market. These include the Russia-Ukraine war, rising inflation, higher interest rates, and the legacy of the COVID-19 pandemic.