OFF-ROAD VEHICLES MARKET ANALYSIS

Market Challenges And Opportunities

Major factor driving growth of the market are increasing adoption of off-road vehicles in military and agriculture operations. Off-road trucks are used in military operations to transport cargo, fuels, ammunition etc. These vehicles are also used for transportation of heavy loaded weapons during wars. Utility off-road vehicles are used in agricultural operations such as crop plotting and scouting, for picking rocks, for irrigation purpose etc. These type of vehicles perform farm work efficiently thus, reducing the labor costs associated with these tasks. Moreover, advanced technologies such as GPS on these vehicles, for creating field boundaries and marking field lines, allows to reduce soil compaction and save planting time by marking the lines. Thus, increasing adoption of utility vehicles in agriculture is expected to positively impact growth of the off-road vehicle market.

However, these vehicles are used for rough terrains, and not for paved road use. Also, it becomes difficult to ride these vehicles on extreme paved surfaces. These factors are expected to restrain growth of the market over the forecast period (2017–2025).