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Electric Off Road Vehicle Market
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Electric Off Road Vehicle Market

Home Automotive And Transportation Electric Off Road Vehicle Market

Electric Off-Road Vehicle Market- Global Industry Size, Share, Trend Analysis and Forecast Report, 2018-2028, Segmented By Vehicle Type (All-Terrain Vehicle (ATV), Special Service Vehicles/Utility Terrain Vehicle (SSV/UTV) and Off-Road Motorcycles); By Application (Utility, Sports, Recreation and Military); By Region (North America, Europe, The Asia Pacific, Latin America, The Middle East, and Africa);

  • Published Date: May 2022
  • Report ID: BWC22139
  • Available Format: PDF
  • Page: 233

Report Overview

The growth of the global electric off-road vehicle market can be primarily attributed to the large-scale new product launches by the key market players, growing severity of emission norms all over the world coupled with rising need for low-noise and emission-free vehicles, which is contributing to the growth of the electric off-road vehicle market...

Global Electric Off-Road Vehicle Market - Industry Trends & Forecast Report 2028

Global Electric Off-Road Vehicle market was worth USD 724 Million in 2021, and is further projected to reach USD 2,234 Million by 2028, exhibiting a CAGR of 18.9% during 2022-2028 (forecast period). The growth of the Global Electric Off-Road Vehicle market can be primarily attributed to the large-scale new product launches by the key market players, growing severity of emission norms all over the world coupled with rising need for low-noise and emission-free vehicles, which is contributing to the growth of the electric off-road vehicle market during the forecast period 2022-2028.

 Electric Off-Road Vehicle Market

Electric Off-Road Vehicle Overview

An electric off-road vehicle is an adventure vehicle meant for off-roading purposes. Off-roading refers to riding a vehicle on unsurfaced gravel tracks, sand, riverbeds, snow, mud, rocks or other natural terrains. There are different types of off-roading activities based on their purposes, such as utility, military, recreational, leisure rides, sports, or others. The off-road vehicles have several specific features that make them suited for the purpose. These features include- huge tires with open and deep grooves, a flexible suspension, or even caterpillar tracks. These vehicles are built so that they do not fall over when they face challenging terrain. This contrasts with the on-road vehicles engineered to travel on smooth, well-maintained roads while providing optimal comfort to the human driver. These cars can drive on and off gravel or paved surfaces. Electric off-road vehicles have high clearance and are typically utilized on surfaces without tar roads or with a bumpy/rough surface.

Global Electric Off-Road Vehicle Market Trends

Growth Driver

Large Scale New Product Launches by The Key Market Players

Several market leaders are increasing their focus on launching new models of electric off-road vehicles to gain a competitive market share. For instance, in December 2021, Vanderhall USA launched the Brawley Electric 4x4 off-road vehicle. The Brawley is the first-ever fully enclosed all-electric side by side. It is claimed to provide an off-roading experience owing to its smooth handling, unibody chassis, and massive tires. It comes equipped with a 404 horsepower motor with 480 torque and can travel up to 200+ miles with just one charge. It comprises four individually controlled electric motors empowering eCrab, eTank, eCrawl, and eSteervoff-road modes. Apart from being fully enclosed, the Brawley features see-through doors that are quite appealing for off-road fanatics and casual adventurers.

Another noteworthy launch is the SWINCAR e-Spider, which has been launched to leverage the pleasure of electric mobility in harmony with nature. The 4WD SWINCAR e-Spider is suitable for various ecosystems, including valleys and hills, sand, and snow. Its silent running feature enables the rider to relish nature, the sounds of insects and birds, leaves rustling, and the wind without degrading the environment. Based on an original pendulum concept, SWINCAR’s design enables the nacelle and driver’s seat always to remain horizontal. Owing to the pendulum design, e-Spider tilts on bending while staying stable on slopes. All the controls are congregated around the steering wheel, making them easy to access and use.

Thus, this competition amongst market players is providing the customers with more innovative designs and models, which is expected to influence the market growth rate during the forecast period positively.

Restraints

High Accident and Fatality Rates Associated with Off-Roading

Although electric off-road vehicles such as ATVs add up to the thrill and adventure quotient, the major risk factor associated with them cannot be neglected. There is a serious accident and death rate associated with the use of these vehicles. According to the Consumer Product Safety Commission (CPSC), riding an all-terrain vehicle, a heavy-duty self-propelled vehicle envisioned for off-road use, has the highest risk of hospitalization among 33 sports activities. Such factors may hamper the growth of the electric off-road vehicles market in the coming years.

Impact of COVID-19 on the Global Electric Off-Road Vehicle Market

The COVID-19 pandemic has severely impacted the growth of the global electric off-road vehicles market. The earlier restrictions across some of the developed nations of the world spurred tensions across the other countries, leading the governmental authorities to undertake actions for stopping the spread of the virus. As a result, it led to lockdown or reduced capacity workload across the countries in the world. European, as well as US automakers, postponed their Li-ion battery shipments to Asia that were initially scheduled for the second quarter of 2020 amidst the growing uncertainty in automotive demand. The restrictions on the road movement impacted the domestic supply chains for the short term. Moreover, the temporary halt of the production facilities led to delays in projects. However, the global off-road vehicles is expected to regain momentum as the economy attains normalcy.

Global Electric Off-Road Vehicle Market – By Vehicle Type

Based on vehicle types, the global electric off-road vehicles market is grouped into All-terrain vehicle (ATV), Special Service Vehicles/Utility Terrain Vehicle (SSV/UTV) and Off-Road Motorcycles. Amidst the segmentation, the All-terrain vehicle (ATV) segment accounted for 23.26% market share in 2021 in terms of value and is anticipated to grow at a high 19.8% CAGR during the forecast period owing to the increased need for UTVs in the defense sector is due to their capability to patrol in war operations quickly. These vehicles have also achieved popularity among agriculturalists and hunters within the United States. Further than this, more aged riders go for UTVs where they cover more distance without needing to bend forward. Similarly, several leading players are launching new utility vehicles within Canada. Mahindra, an Indian car manufacturer, launched Roxer side-by-side UTV in Canada.

Global Electric Off-Road Vehicle Market – By Application

Based on the application, the global electric off-road vehicles market is segmented into the following categories: utility, sports, recreation, and military. Amidst the segmentation, the recreation segment is expected to dominate the market during the forecast period owing to the growing participation and rising spending of young adults on outdoor recreational activities including off-roading, hunting, and dirt biking. The increasing support of government authorities toward the travel & tourism sector will improve consumer participation in recreational activities. Sports segment is expected to grow at a most accelerating CAGR of 19.5% during 2022-2028. Sports enthusiasts and travelers are inclining toward trails of off-road vehicles such as ATV and UTV along with connected activities for recreational and sports activities drives.

Global Electric Off-Road Vehicle Market- Regional Insights                             

In terms of the regional analysis, the global Electric Off-Road Vehicles market is segmented into five regions— North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. Among these regions, North America garnered more than half of the market share in 2021. The growth of the region can be attributed to the high regional market share. Additionally with the existence of various established market players including Polaris, Inc., Deere & Company, Zero Motorcycles, and KTM AG. The market statistics are also influenced by the emergence of new players in the electric off-road vehicles category. For example, in October 2020, Volcon ePowersports launched its business operations with its plans to introduce two- and four wheeled electric off-road vehicles.

Competitive Landscape

The Global Electric Off-Road Vehicle market is characterized by the presence of many local, regional, and global vendors. The key players operating in the Global Electric Off-Road Vehicle market are Polaris, Inc., KTM AG, Intimidator, Inc., Zero Motorcycles, Alke S.r.l, Daymak, Inc., Massimo Motors, HISUN Motors, DRR USA, Ecocharger Quad Bikes, TACITA S.r.l., Deere & Co., Electric Motion, Jiangsu Linhai, Power Machinery Group Corp., Ford Motor Company and other prominent players.

These players are creating new concepts of electrified, connected, autonomous, and shared mobility and are quickening the pace of automotive technological innovation. Companies and start-ups are attempting to electrify mobility, connect automobiles, and develop self-driving technologies. Such technological advancements will assist in lowering EV costs and making electric shared mobility a viable alternative to owning a car. For instance, Ford is investing $22 billion in electrification through 2025 as part of its strategy to lead electrification in areas where it has a competitive advantage. Ford intends to offer the benefits of electric vehicles to consumers through a more affordable price point, increased productivity, and lower total cost of ownership.

Recent Developments:

  • March 2022: Polaris, a Minnesota-based market leader in powersports vehicles presented several electric test vehicles at an event. These test vehicles include an electric UTVs for both adult and youth market, an electric RZR and an electric snowmobile at an investor presentation. These vehicles are expected to expand the electric focus of Polaris substantially from purely utility vehicles to more dual-use vehicles and recreational vehicles.

  • January 2022: Emotive, a UK-based company that developed the world’s first zero-emission off-highway electric ATV announced the launch of a new all-terrain vehicle. This ATV is named Scarab which is claimed to serve a variety of functions in off-highway activities such as fire rescue, agriculture, adventure tourism, and forestry. The vehicle technology is said to be built around a world-leading powertrain that supplies modulated pure electric drive to the wheels individually through a unique smart power delivery system. This vehicle will have major application in the agriculture sector.

Scope of Report:  

Attribute

Details

Years Considered

Historical data – 2018-2021

Base Year – 2021

Forecast – 2022 – 2028

Facts Covered

Revenue in USD Million

Market Coverage

United States, Canada, Germany, United Kingdom, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Mexico,  Saudi Arabia, United Arab Emirates, South Africa

Product/Service Segmentation

By vehicle type, by application and by region.

Key Players

The key players operating in the Global Electric Off-Road Vehicle market Polaris, Inc., KTM AG, Intimidator, Inc., Zero Motorcycles, Alke S.r.l, Daymak, Inc., Massimo Motors, HISUN Motors, DRR USA, Ecocharger Quad Bikes, TACITA S.r.l., Deere & Co., Electric Motion, Jiangsu Linhai, Power Machinery Group Corp., Ford Motor Company and Other prominent players.

 

By Vehicle Type

  • All-Terrain Vehicle (ATV)

  • Special Service Vehicles/Utility Terrain Vehicle (SSV/UTV)

  • Off-Road Motorcycles

By Application

  • Utility

  • Sports

  • Recreation

  • Military

By Region

  • North America

  • Europe

  • Asia Pacific

  • Latin America

  • Middle East and Africa

  1. Research Framework
    1. Research Objective
    2. Product Overview
    3. Market Segmentation
  2. Research Methodology
    1. Qualitative Research
      1. Primary & Secondary Research
    2. Quantitative Research
    3. Market Breakdown & Data Triangulation
      1. Secondary Research
      2. Primary Research
    4. Breakdown of Primary Research Respondents, By Region
    5. Assumption & Limitation
  3. Executive Summary
  4. Global Electric Off-Road Vehicles Market Insights
    1. Industry Value Chain Analysis
    2. DROC Analysis
      1. Growth Drivers
      2. Restraints
      3. Opportunities
      4. Challenges
    3. Technological Landscape/Recent Development
    4. Regulatory Framework
    5. Porter’s Five Forces Analysis
      1. Bargaining Power of Suppliers
      2. Bargaining Power of Buyers
      3. Threat of New Entrants
      4. Threat of Substitutes
      5. Intensity of Rivalry
  5. Global Electric Off-Road Vehicles Market Overview
    1. Market Size & Forecast by Value, 2018-2028
      1. By Value (USD Million)
      2. By Volume (Units)
    2. Market Share & Forecast
      1. By Vehicle Type
        1. All-Terrain Vehicle (ATV)

5.3.1.2.  Special Service Vehicles/Utility Terrain Vehicle (SSV/UTV)

5.3.1.3.  Off-Road Motorcycles

      1. By Application
        1. Utility
        2. Sports
        3. Recreation
        4. Military
      2. By Region
        1. North America
        2. Europe
        3. Asia Pacific
        4. Latin America
        5. Middle East and Africa
  2. North America Electric Off-Road Vehicles Market
    1. Market Size & Forecast by Value, 2018-2028
      1. By Value (USD Million)
      2. By Volume (Units)
    2. Market Share & Forecast
      1. By Vehicle Type
      2. By Application
      3. By Country
        1. United States
        2. Canada
  3. Europe Electric Off-Road Vehicles Market
    1. Market Size & Forecast by Value, 2018-2028
      1. By Value (USD Million)
      2. By Volume (Units)
    2. Market Share & Forecast
      1. By Vehicle Type
      2. By Application
      3. By Country
        1. Germany
        2. United Kingdom
        3. Italy
        4. France
        5. Spain
        6. Rest of Europe
  4. Asia Pacific Electric Off-Road Vehicles Market
    1. Market Size & Forecast by Value, 2018-2028
      1. By Value (USD Million)
      2. By Volume (Units)
    2. Market Share & Forecast
      1. By Vehicle Type
      2. By Application
      3. By Country
        1. China
        2. India
        3. Japan
        4. South Korea
        5. Rest of Asia Pacific
  5. Latin America Electric Off-Road Vehicles Market
    1. Market Size & Forecast by Value, 2018-2028
      1. By Value (USD Million)
      2. By Volume (Units)
    2. Market Share & Forecast
      1. By Vehicle Type
      2. By Application
      3. By Country
        1. Brazil
        2. Mexico
        3. Rest of Latin America
  6. Middle East & Africa Electric Off-Road Vehicles Market
    1. Market Size & Forecast by Value, 2018-2028
      1. By Value (USD Million)
      2. By Volume (Units)
    2. Market Share & Forecast
      1. By Vehicle Type
      2. By Application
      3. By Country
        1. Saudi Arabia
        2. UAE
        3. South Africa
        4. Rest of Middle East & Africa
  7. Brand Analysis (Brand, Model and Sales)
  8. Competitive Landscape
    1. List of Key Players and Their Offerings
    2. Market Share Analysis, 2021
    3. Competitive Benchmarking, By Operating Parameters
    4. Key Strategic Development (Merger, Acquisition, Partnership)
  9. Impact of Covid-19 on Global Electric Off-Road Vehicles Market Industry
  10. Company Profile (Company Overview, Financial Matrix, Competitive landscape, Key Personnel, Key Competitors, Contact Address, and Strategic Outlook) **
    1. Polaris, Inc.
    2. KTM AG
    3. Intimidator, Inc.
    4. Zero Motorcycles
    5. Alke S.r.l
    6. Daymak, Inc.
    7. Massimo Motors
    8. HISUN Motors
    9. DRR USA
    10. Ecocharger Quad Bikes
    11. TACITA S.r.l.
    12. Deere & Co.
    13. Electric Motion
    14. Jiangsu Linhai Power Machinery Group Corp.
    15. Ford Motor Company
  11. Key Strategic Recommendations

 

*Financial information in case of non-listed companies will be provided as per availability

**The segmentation and the companies are subjected to modifications based on in-depth secondary for the final deliverable

 

List of Figures

 

Figure 1: Global Electric Off-Road Vehicles Market Segmentation

Figure 2: Global Electric Off-Road Vehicles Industry Value Chain Analysis

Figure 3: Global Electric Off-Road Vehicles Market Size, By Value (USD Million), 2018-2028

Figure 4: Global Electric Off-Road Vehicles Market Size, By Volume (Units), 2018-2028

Figure 5: Global Electric Off-Road Vehicles Market Share (%), By Vehicle Type, By Value, 2018-2028

Figure 6: Global Electric Off-Road Vehicles Market Share (%), By Vehicle Type, By Volume, 2018-2028

Figure 7: Global Electric Off-Road Vehicles Market Share (%), By Application, By Value, 2018-2028

Figure 8: Global Electric Off-Road Vehicles Market Share (%), By Application, By Volume, 2018-2028

Figure 9: Global Electric Off-Road Vehicles Market Share (%), By Region, By Value, 2018-2028

Figure 10: Global Electric Off-Road Vehicles Market Share (%), By Region, By Volume, 2018-2028

Figure 11: North America Electric Off-Road Vehicles Market Size, By Value (USD Million), 2018-2028

Figure 12: North America Electric Off-Road Vehicles Market Size, By Volume (Units), 2018-2028

Figure 13: North America Electric Off-Road Vehicles Market Share (%), By Vehicle Type, By Value, 2018-2028

Figure 14: North America Electric Off-Road Vehicles Market Share (%), By Vehicle Type, By Volume, 2018-2028

Figure 15: North America Electric Off-Road Vehicles Market Share (%), By Application, By Value, 2018-2028

Figure 16: North America Electric Off-Road Vehicles Market Share (%), By Application, By Volume, 2018-2028

Figure 17: North America Electric Off-Road Vehicles Market Share (%), By Country, By Value, 2018-2028 

Figure 18: North America Electric Off-Road Vehicles Market Share (%), By Country, By Volume, 2018-2028 

Figure 19: Europe Electric Off-Road Vehicles Market Size, By Value (USD Million), 2018-2028

Figure 20: Europe Electric Off-Road Vehicles Market Size, By Volume (Units), 2018-2028

Figure 21: Europe Electric Off-Road Vehicles Market Share (%), By Vehicle Type, By Value, 2018-2028

Figure 22: Europe Electric Off-Road Vehicles Market Share (%), By Vehicle Type, By Volume, 2018-2028

Figure 23: Europe Electric Off-Road Vehicles Market Share (%), By Application, By Value, 2018-2028

Figure 24: Europe Electric Off-Road Vehicles Market Share (%), By Application, By Volume, 2018-2028

Figure 25: Europe Electric Off-Road Vehicles Market Share (%), By Country, By Value, 2018-2028

Figure 26: Europe Electric Off-Road Vehicles Market Share (%), By Country, By Volume, 2018-2028

Figure 27: Asia-Pacific Electric Off-Road Vehicles Market Size, By Value (USD Million), 2018-2028

Figure 28: Asia-Pacific Electric Off-Road Vehicles Market Size, By Volume (Units), 2018-2028

Figure 29: Asia-Pacific Electric Off-Road Vehicles Market Share (%), By Vehicle Type, By Value, 2018-2028

Figure 30: Asia-Pacific Electric Off-Road Vehicles Market Share (%), By Vehicle Type, By Volume, 2018-2028

Figure 31: Asia-Pacific Electric Off-Road Vehicles Market Share (%), By Application, By Value, 2018-2028

Figure 32: Asia-Pacific Electric Off-Road Vehicles Market Share (%), By Application, By Volume, 2018-2028

Figure 33: Asia-Pacific Electric Off-Road Vehicles Market Share (%), By Country, By Value, 2018-2028

Figure 34: Asia-Pacific Electric Off-Road Vehicles Market Share (%), By Country, By Volume, 2018-2028

Figure 35: Latin America Electric Off-Road Vehicles Market Size, By Value (USD Million), 2018-2028

Figure 36: Latin America Electric Off-Road Vehicles Market Size, By Volume (Units), 2018-2028

Figure 37: Latin America Electric Off-Road Vehicles Market Share (%), By Vehicle Type, By Value, 2018-2028

Figure 38: Latin America Electric Off-Road Vehicles Market Share (%), By Vehicle Type, By Volume, 2018-2028

Figure 39: Latin America Electric Off-Road Vehicles Market Share (%), By Application, By Value, 2018-2028

Figure 40: Latin America Electric Off-Road Vehicles Market Share (%), By Application, By Volume, 2018-2028

Figure 41: Latin America Electric Off-Road Vehicles Market Share (%), By Country, By Value, 2018-2028

Figure 42: Latin America Electric Off-Road Vehicles Market Share (%), By Country, By Volume, 2018-2028

Figure 43: Middle East & Africa Electric Off-Road Vehicles Market Size, By Value (USD Million), 2018-2028

Figure 44: Middle East & Africa Electric Off-Road Vehicles Market Size, By Volume (Units), 2018-2028

Figure 45: Middle East & Africa Electric Off-Road Vehicles Market Share (%), By Vehicle Type, By Value, 2018-2028

Figure 36: Middle East & Africa Electric Off-Road Vehicles Market Share (%), By Vehicle Type, By Volume, 2018-2028

Figure 47: Middle East & Africa Electric Off-Road Vehicles Market Share (%), By Application, By Value, 2018-2028

Figure 48: Middle East & Africa Electric Off-Road Vehicles Market Share (%), By Application, By Volume, 2018-2028

Figure 49: Middle East & Africa Electric Off-Road Vehicles Market Share (%), By Country, By Value, 2018-2028

Figure 50: Middle East & Africa Electric Off-Road Vehicles Market Share (%), By Country, By Volume, 2018-2028

Figure 51: Global Electric Off-Road Vehicles Market Share Analysis, 2020

 

List of Tables

 

Table 1: Global Electric Off-Road Vehicles Market Size, By Vehicle Type, By Value (USD Million), 2018-2028

Table 2: Global Electric Off-Road Vehicles Market Size, By Vehicle Type, By Volume (Units), 2018-2028

Table 3: Global Electric Off-Road Vehicles Market Size, By Application, By Value (USD Million), 2018-2028

Table 4: Global Electric Off-Road Vehicles Market Size, By Application, By Volume (Units), 2018-2028

Table 5: Global Electric Off-Road Vehicles Market Size. By Region, By Value (USD Million), 2018-2028

Table 6: Global Electric Off-Road Vehicles Market Size. By Region, By Volume (Units), 2018-2028

Table 7: North America Electric Off-Road Vehicles Market Size, By Vehicle Type, By Value (USD Million), 2018-2028

Table 8: North America Electric Off-Road Vehicles Market Size, By Vehicle Type, By Volume (Units), 2018-2028

Table 9: North America Electric Off-Road Vehicles Market Size, By Application, By Value (USD Million), 2018-2028

Table 10: North America Electric Off-Road Vehicles Market Size, By Application, By Volume (Units), 2018-2028

Table 11: 28 North America Electric Off-Road Vehicles Market Size (USD Million), By Country, By Value 2018-2028 

Table 12: North America Electric Off-Road Vehicles Market Size (Units), By Country, By Volume 2018-2028 

Table 13: Europe Electric Off-Road Vehicles Market Size, By Vehicle Type, By Value (USD Million), 2018-2028

Table 14: Europe Electric Off-Road Vehicles Market Size, By Vehicle Type, By Volume (Units), 2018-2028

Table 15: Europe Electric Off-Road Vehicles Market Size, By Application, By Value (USD Million), 2018-2028

Table 16: Europe Electric Off-Road Vehicles Market Size, By Application, By Volume (Units), 2018-2028

Table 17: Europe Electric Off-Road Vehicles Market Size (USD Million), By Country, By Value 2018-2028 

Table 18: Europe Electric Off-Road Vehicles Market Size (Units), By Country, By Volume 2018-2028 

Table 19: Asia-Pacific Electric Off-Road Vehicles Market Size, By Vehicle Type, By Value (USD Million), 2018-2028

Table 20: Asia-Pacific Electric Off-Road Vehicles Market Size, By Vehicle Type, By Volume (Units), 2018-2028

Table 21: Asia-Pacific Electric Off-Road Vehicles Market Size, By Application, By Value (USD Million), 2018-2028

Table 22: Asia-Pacific Electric Off-Road Vehicles Market Size, By Application, By Volume (Units), 2018-2028

Table 23: Asia-Pacific Electric Off-Road Vehicles Market Size (USD Million), By Country, By Value 2018-2028 

Table 24: Asia-Pacific Electric Off-Road Vehicles Market Size (Units), By Country, By Volume 2018-2028 

Table 25: Latin America Electric Off-Road Vehicles Market Size, By Vehicle Type, By Value (USD Million), 2018-2028

Table 26: Latin America Electric Off-Road Vehicles Market Size, By Vehicle Type, By Volume (Units), 2018-2028

Table 27: Latin America Electric Off-Road Vehicles Market Size, By Application, By Value (USD Million), 2018-2028

Table 28: Latin America Electric Off-Road Vehicles Market Size, By Application, By Volume (Units), 2018-2028

Table 29: 64 Latin America Electric Off-Road Vehicles Market Size (USD Million), By Country, By Value 2018-2028 

Table 30: Latin America Electric Off-Road Vehicles Market Size (Units), By Country, By Volume 2018-2028 

Table 31: Middle East & Africa Electric Off-Road Vehicles Market Size, By Vehicle Type, By Value (USD Million), 2018-2028

Table 32: Middle East & Africa Electric Off-Road Vehicles Market Size, By Vehicle Type, By Volume (Units), 2018-2028

Table 33: Middle East & Africa Electric Off-Road Vehicles Market Size, By Application, By Value (USD Million), 2018-2028

Table 34: Middle East & Africa Electric Off-Road Vehicles Market Size, By Application, By Volume (Units), 2018-2028

Table 35: 76 Middle East & Africa Electric Off-Road Vehicles Market Size (USD Million), By Country, By Value 2018-2028 

Table 36: Middle East & Africa Electric Off-Road Vehicles Market Size (Units), By Country, By Volume 2018-2028 

Table 37: List of Key Players and Their Offerings

Table 38: Polaris, Inc. Company Overview                   

Table 39: Polaris, Inc. Financial Overview                    

Table 40: KTM AG Company Overview                         

Table 41: KTM AG Financial Overview                          

Table 42: Zero Motorcycles Company Overview                                     

Table 43: Zero Motorcycles Financial Overview                                       

Table 44: Alke S.r.l Company Overview                       

Table 45: Alke S.r.l Financial Overview                        

Table 46: Massimo Motors Company Overview                       

Table 47: Massimo Motors Financial Overview                        

Table 48: DRR USA Company Overview                       

Table 49: DRR USA Financial Overview                        

Table 50: Ecocharger Quad Bikes Company Overview                        

Table 51: Ecocharger Quad Bikes Financial Overview                         

Table 52: TACITA S.r.l. Company Overview                           

Table 53: TACITA S.r.l. Financial Overview                   

Table 54: Deere & Co. Company Overview                   

Table 55: Deere & Co. Financial Overview                    

Table 56: Electric Motion Company Overview                         

Table 57: Electric Motion Financial Overview                          

Table 58: Jiangsu Linhai Power Machinery Group Corp. Company Overview              

Table 59: Jiangsu Linhai Power Machinery Group Corp. Financial Overview                         

Table 60: Ford Motor Company Overview                     

Table 61: Ford Motor Company Financial Overview

Market Segmentation

By Vehicle Type

  • All-Terrain Vehicle (ATV)
  • Special Service Vehicles/Utility Terrain Vehicle (SSV/UTV)
  • Off-Road Motorcycles

By Application

  • Utility
  • Sports
  • Recreation
  • Military

By Region

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East and Africa
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Frequently Asked Questions (FAQs):

Ans: The global electric off-road vehicle market reached USD 724.1 Million in 2021 across the globe.
Ans: The growth of the global electric off-road vehicle market can be primarily attributed to the growing severity of emission norms all over the world coupled with rising need for low-noise and emission-free vehicles.
Ans: The key players operating in the global electric off-road vehicle market are Polaris, Inc., KTM AG, Intimidator, Inc., Zero Motorcycles, Alke S.r.l, Daymak, Inc., Massimo Motors, HISUN Motors, DRR USA, Ecocharger Quad Bikes, TACITA S.r.l., Deere & Co., Electric Motion, Jiangsu Linhai, Power Machinery Group Corp., Ford Motor Company and other prominent players.
Ans: The off-road motorcycles segment accounted for the largest share in the global electric off-road vehicle market.
Ans: European region is growing at the highest pace n the global electric off-road vehicle market.