The market report is a good combination of qualitative and quantitative data that highlights significant market changes, obstacles that business and the competition must overcome, as well as new possibilities and trends in the global All-Terrain Vehicle Market.
JERSEY CITY, N.J., Jan. 30, 2023 /PRNewswire/ — Verified Market Research® recently published a report, “All-Terrain Vehicle Market” By Product Type (Sport UTV, Utility ATV), By Engine-Type (Below 400cc, 400-800cc), By Application (Sports and Leisure, Agriculture Industry), and By Geography.
As per the deep research carried out by Verified Market Research®, the global All-Terrain Vehicle Market size was valued at USD 1.26 Billion in 2021 and is projected to reach USD 1.91 Billion by 2030, growing at a CAGR of 4.75% from 2023 to 2030.
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Browse in-depth TOC on “All-Terrain Vehicle Market“
202 – Pages
126 – Tables
37 – Figures
Global All-Terrain Vehicle Market Overview
Because of the increased demand for adventure and sports, as well as recreational activities, the All-Terrain Vehicle Market is booming. Furthermore, the market expansion is fueled by an individual’s increasing disposable income. Furthermore, the growing demand for ATVs in the military defense and agriculture sectors is putting upward pressure on market growth. However, worries about safety as a result of rising accident rates are projected to stifle market expansion.
The market demand is being fueled by all-terrain vehicles’ high power and torque. The ATV industry will grow as the number of desert events, ATV championships, adventure trails, and parks grow. Furthermore, strong government backing for the development of off-road vehicle adventure routes is expected to boost market growth. The US Forest Service, for example, launched the Travel Management and Off-Highway Vehicle program to improve awareness about trail availability.
Increased investments to increase vehicle performance, such as better output, torque, and maneuverability, will propel the industry forward. Electric drive trains can handle a wider range of terrains and provide improved stability, thanks to technological developments. In addition, manufacturers are progressively adding models with high-end stereos, GPS screens, and comfortable upholstery to smooth out the ride across difficult terrains.
During the first six months of the COVID-19 pandemic, the ATV market suffered a setback. During the first half of last year, the global lockdown and travel restrictions enforced by government authorities resulted in a sharp drop in motorsports and leisure activities. However, since the previous quarter, the ATV industry has seen a rapid increase in unit shipments, owing to a shift in customer demand for sports activities.
Verified Market Research® narrows down the available data using primary sources to validate the data and use it in compiling a full-fledged market research study. The report contains a quantitative and qualitative estimation of market elements that interests the client. The “Global All-Terrain Vehicle Market” is mainly bifurcated into sub-segments which can provide classified data regarding the latest trends in the market.
Key Players
The “Global All-Terrain Vehicle Market” study report will provide valuable insight with an emphasis on the global market. The major players in the market are Polaris Inc., Honda Motor Company, Ltd, Textron Inc., Kawasaki, Suzuki Motor Corporation, Yamaha Motor Company Limited, KTM AG, BRP Inc., CFMoto, Linhai, Arctic Cat, Hisun, TGB, Kymco.
Based on the research, Verified Market Research® has segmented the global All-Terrain Vehicle Market into Product Type, Engine-Type, Application, and Geography.
- All-Terrain Vehicle Market, by Product Type
- Sport ATV
- Utility ATV
- All-Terrain Vehicle Market, by Engine-Type
- Below 400cc
- 400-800cc
- Above 800cc
- All-Terrain Vehicle Market, by Application
- Sports and Leisure
- Agriculture Industry
- Out-door Work
- Military Forces
- Others
- All-Terrain Vehicle Market, by Geography
- North America
- U.S
- Canada
- Mexico
- Europe
- Germany
- France
- U.K
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- Rest of Asia Pacific
- ROW
- Middle East & Africa
- Latin America
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