Dublin, Aug. 04, 2022 (GLOBE NEWSWIRE) — The “Electric Off-Road Vehicle Market Forecast to 2028 – Impact of COVID-19 and Global Analysis by Vehicle, Application and Geography” report has been added to from ResearchAndMarkets.com offer.
Electric Off-Road Vehicle Market is expected to reach US$2,234.0 million by 2028, from US$724.1 million in 2021
The environmental qualities of electric vehicles are one of the most critical factors driving the growth of the off-road electric vehicle market. Electric automobiles are completely environmentally friendly as their motors are powered by electricity, thus emitting no hazardous gases or smoke into the environment.
According to a new assessment published by the European Environment Agency, the most significant environmental risk to health in Europe is air pollution. The European Environment Agency (EEA) has estimated that air pollution is responsible for more than 400,000 premature deaths each year in Europe. Air pollution is responsible for heart disease and stroke, which have become the most common causes of premature death, followed by lung cancer and lung disease.
The United States accounted for the largest share of the off-road electric vehicle market in North America. The country has the largest consumer base of outdoor recreational activities, presenting great growth opportunities for electric off-road vehicle players. These factors are driving the growth of the electric off-road vehicle market size in the region.
In recent years, tourists and sports enthusiasts across the country have shown a growing inclination towards off-road vehicle trails such as all-terrain utility vehicles (UTVs) and all-terrain vehicles (ATVs) coupled to related activities for sports and recreational activities. purposes. A few recreational activity organizers and tourism councils build tracks and sports facilities for such vehicles to fascinate and retain visitors.
A variety of public lands and state parks in the United States offer miles of roads for ATV rides and trails to tourist sites. Some parks even make it easy to get permits online. For example, the Florida State Forest Service offers a wide range of terrain, high-altitude mountain trails, and sand dunes to suit any experience level or preference. Thus, this growing trend to satisfy the thrill seekers is expected to create numerous opportunities for the growth of the off-road electric vehicle market.
The application of electric off-road vehicles has increased in agricultural and military fields. For example, UTV models for agricultural applications were recently released by Deere, a major US-based agricultural and farming equipment manufacturer. Additionally, John Deere updated its legendary line of Gator Utility Vehicles (UV) in September 2020.
Strong demand for agricultural sector vehicles for several applications has contributed significantly to these launches and upgrades. Likewise, due to the increase in military budgets associated with the rise of geopolitical tensions and polarization in the world, as well as the productive applications of all-terrain vehicles in military maneuvers due to their functionality and modularity , it is expected that the demand for specialized military off-road vehicles will increase shortly. Such demand will automatically boost the growth of the electric off-road vehicle market.
Main topics covered:
1. Research framework
2. Research methodology
3. Executive Summary
4. Global Electric Off-Road Vehicle Market Overview
5. Global Electric Off-Road Vehicle Market Overview
6. North America Electric Off-Road Vehicle Market
7. Europe Electric Off-Road Vehicle Market
8. Asia-Pacific Electric Off-Road Vehicle Market
9. Latin America Electric Off-Road Vehicle Market
10.The Electric Off-Road Vehicle Market in the Middle East and Africa
11. Brand Analysis (Brand, Model and Sales)
12. Competitive landscape
13.Impact of Covid-19 on the Global Electric Off-Road Vehicle Market Industry
14. Company Profile
15. Main policy recommendations
Companies cited
- Polaris, Inc.
- KTM S.A.
- Bully, Inc.
- Zero Motorcycles
- Alke S.r.l.
- Daymac, Inc.
- Massimo Motors
- HISUN Engines
- DRR United States
- Quads Ecocharger
- Tactics Srl
- Deere & Co.
- Electric movement
- Jiangsu Linhai Electric Machine
For more information on this report, visit https://www.researchandmarkets.com/r/kjlrck
