DUBLIN--(BUSINESS WIRE )--The "Amphibious Vehicle Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027" report has been added to ResearchAndMarkets.com's offering.

The global amphibious vehicle market reached a value of US$ 2.85 Billion in 2021. Looking forward, the publisher expects the market to reach a value of US$ 5.08 Billion by 2027 exhibiting a CAGR of 9.60% during 2022-2027.

Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic. These insights are included in the report as a major market contributor.

Amphibious vehicles are convertible cars operating on land as well as in water, which are used to transport passengers and cargo. They are economical and easy to store, require less maintenance, and can operate on harsh terrain. They reduce the overall expenditure as they do not involve storage charges, mooring fees, trailer expenses, and pontoon maintenance.

Bicycles, boats, excavators, cranes, and personnel carriers are some of the commonly available amphibious vehicles worldwide. Nowadays, there is a rise in the demand for land vehicles that can be transformed into amphibious vehicles using a waterproof hull and a propeller.

Amphibious vehicles are integral in military missions as they merge maritime and terrain-based operations, which help move troops and equipment into combat zones quickly.

In addition, they can be used for other purposes, such as disaster relief operations and humanitarian aid. This, in confluence with the rising geographical conflicts and increasing investments in the defense sector by governing agencies of several countries, represents one of the major factors bolstering the market growth.

Moreover, increasing spending by individuals on water adventure tourism on account of rapid urbanization and inflating disposable incomes are driving the demand for amphibious vehicles. This can also be attributed to the growing participation of professionals in water sports activities across the globe.

Apart from this, amphibious vehicles are finding applications in the construction industry to facilitate the execution of several engineering and mining projects in remote and rough environments, such as flooded areas and other dangerous or inaccessible terrains.

Furthermore, they are extensively used for dredging purposes, such as maintaining riverbeds, swamps, lakes, ponds, and reservoirs, environmental clean-ups, land reclamation, excavation, water mud removal, and waterway construction.

Key Questions Answered in This Report:

The competitive landscape of the industry has also been examined along with the profiles of the key players being

Breakup by Mode of Propulsion:

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ResearchAndMarkets.com Laura Wood, Senior Press Manager press@researchandmarkets.com For E.S.T Office Hours Call 1-917-300-0470 For U.S./CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900