Off-Road Vehicle Market Insights, Trends & Statistics in 2023

Off-Road Vehicle Market Insights

The off-road vehicle market is worth more than $12.3 billion globally.

With that kind of value, it’s no wonder the industry is seeing growing popularity and innovation. And, with the increasing popularity of overlanding in America, that number can only go up.

We did this research report of the off-road vehicles market to find out exactly how the off-road vehicles industry is growing and what can be expected in the years to come.

Use the table of contents below to jump to whatever most interests you:

Table of Contents

    Key Market Trends: Off-Road Vehicle Market Insights

    We set out to answer a few key questions with this report:

    How big is the off-road vehicles industry?

    The market size for off-road vehicles is big, and getting bigger.

    How big is the overlanding market?

    Overlanding, or the act of exploring backcountry in a well-equipped four-wheel drive vehicle (often for days or weeks at a time), has become an increasingly-popular pastime worldwide. ( 2022)

    Of course, here at Adventures on the Rock, we are very fond of overlandering. So these statistics were of particular interest to us:

    • While this trend can certainly be taken up by anyone, it is most common among affluent individuals who have the ability to afford the appropriate vehicles, equipment, and time necessary for the overlander lifestyle. Because of this, overlanding is particularly popular with Boomers. ( 2022)
    • A 2017 Overland Expo survey found that 60% of participants claimed annual incomes more than $80,000, and 30% claimed annual incomes greater than $150,000. ( 2022)
    • It is believed that overlanding—which has already substantially boosted the global adventure tourism market—will rocket the market value from $586 billion in 2019 to $1.63 trillion in 2026. ( 2022)

    Who uses off-road vehicles?

    The off-road vehicles market is large and getting larger. But who are the people buying and using these vehicles?

    According to the data, the biggest share is North Americans. Specifically, the off-road sport industry, which is the biggest portion of ORV users in North America.

    In particular, the growing industrial usage of ORVs is expected to continuously boost market growth through the year 2030.

    What is the market growth trajectory of the off-road industry?

    It seems as though the off-road vehicle market is already massive. But it is continuing to see steady growth within the forecast period of the next 8 years. Rising demand is also causing off-road vehicle manufacturers to push for further grwoth.

    • The off-road vehicle industry is projected to grow at 7.3% compound annual growth rate (CAGR) from 2021 to 2030. (AMR ORV Report)
    • If this 7.3% CAGR trajectory is accurate, the ORV industry will surpass $22.6 billion in 2030. (AMR ORV Report)

    Other Interesting Off-Road Vehicle Insights

    Now that we’ve discussed the impact and size of the off-road vehicle market, let’s look at some other interesting statistics about the future of off-road vehicles and which are the most popular:

    The Future of Off-Roading is Electric

    With Tesla’s upcoming Cyber Truck and Cyber Quad, all-electric off-road vehicles are no longer a science fiction idea. The growth of this company has spurred innovations in already-existing vehicle manufacturers to create their own electric all-terrain vehicles.

    Plus, the push for environmentally-friendly has caused the major companies to change their tune. We found that:

    What is the highest-selling off-road car in the world?

    Here are some interesting statistics about which off-road vehicles sell the most. No surprise that the Toyota RAV4 was at the top, with their amazing lineup of reliable vehicles!

    • In 2021, Toyota dominated the global automotive market with three of the top five highest-selling passenger cars. (Statista 2022)
    • Globally, the Toyota RAV4 was the best-selling ORV with one million units sold. (Statista 2022)
    • However, in the United States, the top-selling ORV (for the 45th consecutive year) was the Ford F-Series pickup. (Statista 2022)
    © Statista 2022

    How many 4-wheelers are sold each year?

    In 2021, 850,000 4-wheelers were sold globally (a slight dip from 874,000 units sold in 2020). (MotorCycles Data 2022)

    The rise of the all-terrain vehicle on farms and in the construction industry is helping the ATV market, but the chip shortage affecting the auto industry is also affecting the entire global off-road market. This is likely the cause for the dip in 2021.

    How does AWD compare to 4WD for off-roading?

    AWD tends to serve best in slippery road conditions, since it is constantly engaged and monitored by computers that can react quickly to help maintain traction. (Forbes 2022)

    4WD tends to serve best for off-roading, since drivers have more control over the system and can therefore dial in the right amount of power and torque needed to gain the best traction for the situation. (Forbes 2022)

    What’s Next?

    If you’ve enjoyed this report of the off-road vehicles market, you might also like some of our other reports and off-roading content.

    Here are a few related posts you may like:

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