OFF-ROAD VEHICLES MARKET ANALYSIS
Global Off-road Vehicles Market: Regional Insights
North America is expected to hold the largest market share in global off-road vehicles market in over the forecast period. According to the Coherent Market Insights analysis, U.S. accounted for over 50% of the global off-road vehicles sales in 2016. Moreover, high presence of automotive parts providers in the region such as Visteon Corporation, Borgwarner Inc., and Lear Corporation is expected to positively impact growth of the market in this region. Additionally, increasing number of sport events such as mountain racing, dirt racing, and all terrain racing, organized in the region is expected to further boost demand for off-road vehicles. Canadian Council of Snowmobile Organizations and North American Council of Snowmobiles Associations conducts sports events every year, which also has a positive impacts on the growth of the off-road vehicles market in this region.
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