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Off-highway Vehicle Market Size, Competitive Strategies, Application Analysis, Regional, and Forecasts 2018 to 2026 May 11, 2021
By Zaraki Kenpachi -
O몭-road vehicles are capable of driving on and o몭 tiled or pebbly surfaces. They generally have large tires with deep, open treads, and 몭exible suspensions. The most common use of these vehicles is for traveling or driving in areas that do not have asphalt roads. Higher clearance and higher power enables these vehicles to access trails and roads that have rough and low-traction surfaces. Increase in demand and production of o몭-road vehicles is projected to boost the o몭highway vehicle market during the forecast period. All-terrain vehicles are a part of o몭-highway vehicles. Demand for all-terrain vehicles (ATVs) is increasing due to their suitability for activities such as driving and travelling in rough terrain areas. Moreover, a rise in automation and usage of machinery to ease the work of humans in various industries such as agriculture, construction, mining, and infrastructure has increased the utilization of o몭-road vehicles in these sectors. However, the high cost and maintenance expenditure of these vehicles are anticipated to signi몭cantly restrain the o몭-highway vehicle market. Regulatory bodies are imposing stringent norms, globally, to reduce carbon emissions from automobiles. O몭-road vehicles burn large amount of fuel and create more carbon emission as compared to normal vehicles, as o몭highway vehicles require large amount of power to operate. Improvement in the carbon emission of these vehicles is likely to propel the o몭-highway vehicle market during the forecast period. Key players operating in the global o몭-highway vehicle market include: