The study will cover the market intelligence and information for a period of 12 years from 2014 to 2026. The base year for the study is 2020.
Global Side-by-Side Vehicles (SSVs) Market Forecast:
The global Side-by-Side Vehicles (SSVs) Market is anticipated to recoup from the effects of COVID-19 starting from the year 2021 and will grow at a modest CAGR during the forecast period of 2021-2026.
The SSVs market size is projected to grow at a healthy rate over the next five years to reach an estimated value of US$ 9.2 billion in 2024.
The market is estimated through a rigorous triangulation process of internal data, secondary analysis and the insights gained from the primary interviews with industry experts.
The Side-by-Side Vehicles (SSVs) Market growth depends upon numerous factors which have direct or indirect impact the demand.
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The key factors governing the demand for Side-by-Side Vehicles (SSVs) Market are:
- Market structure: Overview, industry life cycle analysis, supply chain analysis.
- Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis.
- Market trend and forecast analysis.
- Market segment trend and forecast.
- Competitive landscape and dynamics: Market share, product portfolio, product launches, etc.
- Attractive market segments and associated growth opportunities.
- Emerging trends.
- Strategic growth opportunities for the existing and new players.
- Key success factors.
Side-by-Side Vehicles (SSVs) Market Segmentation:
Side-by-side vehicles are also known as UTV or Utility Task Vehicle is mainly a small recreational off-road vehicle. The capacity of these vehicles varies from 2 to 6 passengers. These versatile vehicles can be used in both, work as well as play purposes by the users.
Side-by-Side vehicles are equipped with four wheels or more. Loaded with extra horsepower, the vehicle is a perfect option for different off-road conditions. Also, these vehicles are known for their control, power, and security features.
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COVID-19 IMPACT Analysis on Side-by-Side Vehicles (SSVs) Market
COVID-19 has affected all the businesses, small or big, present in any sector. The dynamics of Side-by-Side Vehicles (SSVs) Market have seen a huge shift in the year 2020. The market environment and the way of operations have taken a huge turn and have led to many changes in the processes, which will have repercussions for a long period. 2021 is likely to be better than 2020 for the Side-by-Side Vehicles (SSVs) Market players as most of the businesses have resumed their operations and the demand is getting restored for them.
Note: This report will be updated to incorporate the impact of COVID-19 on the market forecast for the period of 2021 to 2026.
Side-by-Side Vehicles (SSVs) Market Competitive Analysis:
The report studies the competitive framework and business environment via different analytical frameworks such as
- Porters Five Forces Model
- SWOT Analysis
- PEST Analysis
- Success Factors
- Growth Matrix
The key players in Side-by-Side Vehicles (SSVs) Market are:
- Arctic Cat Inc. (Acquired by Textron Inc.)
- BRP Inc.
- Deere & Company (John Deere)
- Honda Motors. Co., Ltd.
- Kawasaki Motors Corp.
- Kubota Corporation
- Polaris Industries Inc.
- Yamaha Motors Co., Ltd.
The Side-by-Side Vehicles (SSVs) Market report benchmarks the major competitors on critical parameters, some of which are mentioned below:
- Sales from the Side-by-Side Vehicles (SSVs) Market segment
- Geographic diversification
- New product launches
- Market Share
- Strategic alliances, mergers and acquisitions
- Alignment with the market
- Regional dominance of the competitors
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