Global expedition truck market set to reach $481.7 million by 2031 with focus on off-road capabilities.

From GlobeNewswire: 2024-11-28 05:55:00

The global Expedition Truck Market was valued at $221.2 million in 2024 and is projected to reach $481.7 million by 2031, growing at a CAGR of 8.9%. The market is driven by the rising popularity of adventure tourism and off-road events, with global participation expected to reach 1.8 billion by 2030.

Manufacturers are focusing on developing trucks with enhanced off-road capabilities and comfort features for adventure travelers. The market is witnessing a trend towards hybrid and electric powertrains in expedition trucks to improve performance. The <3.5 Tonnes weight segment dominates the market, accounting for around 45% of global sales in 2024. While 2WD drive systems currently dominate the market, the 4WD segment is expected to witness the fastest growth as consumers prioritize off-road capabilities. North America is projected to lead the expedition truck market through 2031, with key players like Krug Expedition Truck and Global Expedition Vehicles accounting for over 50% of global sales. Leading players in the global expedition truck market include Krug Expedition Truck, Gekkotruck, and Global Expedition Vehicles. Recent developments include the launch of the Bedrock XT2 by Krug Expedition targeted at the U.S. market and the Retro OG MODE by Storyteller Overland for off-road adventures. The market is expected to see steady growth with a focus on off-road capabilities and sustainability.


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