Stratview Research announces the launch of a new market research report on Side-by-Side Vehicles (SSVs) Market by Vehicle Type (Utility, Recreational/Utility, and Sports), by Application Type (Sports, Entertainment, Agriculture, Military, Hunting, and Others), and by Region (North America, Europe, Asia-Pacific, and Rest of the World), Trend, Forecast, Competitive Analysis, and Growth Opportunity: 2018-2023.
This market report, from Stratview Research, studies the side-by-side vehicles market over the trend period of 2012 to 2017 and forecast period of 2018 to 2023. The research report provides detailed insights on the market dynamics to enable informed business decision making and growth strategy formulation based on the opportunities present in the market.
The Global Side-by-Side Vehicles (SSV) Market: Highlights
Next five years for the global side-by-side vehicles (SSVs) market seem vigorous with sizeable growth opportunities for both existing as well as new players. The SSVs market is projected to grow at a healthy rate over the next five years to reach an estimated value of US$ 7.8 billion in 2023. Recovery of the global economy, increasing disposable income, and an incessant shift from ATVs to SSVs are the major factors that are burgeoning the demand for side-by-side vehicles market. Increasing preference of SSVs in sports, agriculture, and entertainment purposes are likely to drive the demand for SSVs during the forecast period.
Based on the vehicle type, utility SSV is projected to remain the largest segment of the market over the next five years, whereas sports segment is likely to witness the highest growth during the same period, driven by an increasing preference of SSVs for sports purpose.
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Research findings suggest that sports and entertainment are the major applications collectively occupying more than 50% of the SSVs market in 2017. Both applications are expected to remain the largest ones over the next five years as well. All the major players are launching their SSV models targeting these applications.
As per the study, North America is expected to remain the largest market for SSVs over the next five years, driven by the USA and Canada. The USA is the largest global SSVs market due to its large stretches of natural terrain, unpaved roads, and large ranches and farms across the country. Europe, another major region, is likely to grow at a healthy rate over the next five years, propelled by Germany and France. Asia-Pacific is a relatively very small market but is likely to witness the highest growth during the forecast period, driven by an increased demand for power sports in many countries including China, Australia, and India.
The market for SSVs is highly consolidated with the presence of global as well as regional players. Major SSV manufacturers are Polaris Industries, Kawasaki Motors Corp., Deere & Company (John Deere), Kubota Corporation, BRP Inc., Yamaha Motors Co., Ltd., and Honda Motors Co., Ltd. Development of new SSVs, vast product portfolio, in-house key component manufacturing, and wide geographical presence in key markets are the strategies adopted by the major players to gain a competitive edge in the market.
Report Features
This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights on the market dynamics and will enable strategic decision making for the existing market players as well as those willing to enter the market. The following are the key features of the report:
This report studies the global side-by-side vehicles market and has segmented the market in three ways, keeping in mind the interest of all the stakeholders across the value chain. Following are the three ways in which the market is segmented:
Side-by-Side Vehicles Market, by Vehicle Type:
Side-by-Side Vehicles Market, by Application Type:
Side-by-Side Vehicles Market, by Region:
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