The major players operating in the global all-terrain vehicle industry include Polaris Inc., Bombardier Recreational Products (BRP), American Honda Motor Co., Inc., Arctic Cat Inc., Yamaha Motor Corporation.
PUNE, India, Feb. 1, 2023 /PRNewswire/ — Analyst View:
The global All-Terrain Vehicle Market is currently valued at USD 8.34 billion and is expected to reach USD 14.61 billion by the end of 2029, growing at a CAGR of 6.1% over the next decade.
The All-Terrain Vehicle (ATV) market provides a wide range of services on land, water and in the air and is expanding rapidly. The growth in this market has been spurred by a number of factors such as rising disposable income worldwide, urbanization occurring around the globe, increasing recreational activities and recreational vehicles also a growing trend in this market. All-terrain vehicles, also known as ATVs or dirt bikes, are motorized vehicles designed to be used on off-road terrain. All-terrain vehicles have won over a range of riders due to their intended use and the ability to access off road areas that others cannot. As of 2013 only around 10% of all manufacturers produced all terrain vehicles (ATVs). Manufacturers claim that their products are safer than motorcycles and cars, because they have more ground clearance than off road motorcycles and sport utility vehicles.
Explore the All-Terrain Vehicle market. All-Terrain Vehicles are able to transport people and goods in uneven terrain, including rugged terrain and rugged terrains, trails and snowfields. It is one of the main vehicles used by tourists in mountain regions as well as adventure seekers. It also allows human beings to cross deep rivers or swamps easily.
Growing Demand
High accident rates and subsequent regulations may hamper the all-terrain vehicle demand
The All-Terrain Vehicle market is expected to witness high growth during the forecast period. This is primarily due to the increasing demand for off-road vehicles, which helps maintain the popularity of ATVs among consumers. We have reached new heights with the All-Terrain Vehicles Market. With an increase in the demand for high performance all-terrain vehicles, many players have entered the market. These players are emerging globally and are offering various products.
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Instant Developments:
In July 2021, Polaris introduced their first electric drive train line up powered by 110HP, 140lb-ft torque electric motor. It features 3 drive modes for the customer to choose from and has an 80-mile drive range on a single full charge. The vehicle also supports fast charging for its battery pack.
In October 2021, Polaris acquired new manufacturing facility at Monticello and now has in-house die casting capabilities making it a vertically integrated facility enabling better quality products and production efficiency.
In March 2021, Honda has introduced Overhead valve (OHV) air-cooled 229cc engine, which is longitudinally mounted, for more efficient power transfer. It also features Honda SportClutch™ that enables the rider to experience manual clutch actuation and no stalling when coming to a stop. Independent double-wishbone front suspension.
Market Segmentation Summary:
The All-Terrain Vehicle market has been segmented on the basis of product types, applications and geography. Under product types, four segments namely; Off-Highway Trucks, On-Highway Trucks, Buses and Utility Vehicles have been included in this report. Based on applications segmentation All-Terrain Vehicle market has been categorized into four segments namely; Off-Road Vehicles (OHRV), On-Road Vehicles (ORV), Recreational Vehicles (RRV) and Others. The all-terrain Vehicle (ATV) market is driven by factors such as population growth, high employment, increasing disposable income and growing household expenditure. With a growing population and rising affluence levels within the region, the whole of Latin America and Caribbean & Central America is set to take advantage of this opportunity.
All-Terrain Vehicle Market Report Scope:
|
Featured points of the Report |
Details |
|
All-Terrain Vehicle Market Size |
USD 8.34 billion |
|
Revenue Forecast in 2029 |
USD 14.61 billion |
|
CAGR Value |
6.1% CAGR |
|
Forecast Period |
2023-2029 |
|
Top Competitor |
Polaris Inc., Bombardier Recreational Products (BRP), American Honda Motor Co., Inc., Arctic Cat Inc., Yamaha Motor Corporation, Can-Am, Textron, Suzuki |
|
Key Segments |
By Type, By Application, End-User, and Region |
|
Report Coverage |
Market growth drivers, constraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, market attractiveness analysis by segment and region, market share analysis of companies, and COVID-19 impact analysis. |
|
Regional Scope |
North America, , Asia Pacific, Europe, Middle East & Africa, and South & Central America |
|
Customization Scope |
15% Free Customization |
Learn about the contribution of each segment summarized in concise info graphics and thorough descriptions View a FREE PDF Sample Report
All-Terrain Vehicle Market: Regional Landscape
Presence of well-developed primary, secondary, and tertiary care facilities in the North America region drives market growth.
Presence of major key players in North America region is dominating the market growth.
North America is expected to hold the largest share of the global all-terrain vehicle market. ATV adoption has increased significantly in the United States and Canada as a result of a variety of causes, including inhabitants’ better discretionary income, the developed economy, government laws governing ATVs, and impending electric vehicle projects.
In this report, the market has been segmented on the basis of:
All-Terrain Vehicle Market by Product, 2023-2029, (USD Million) (Thousand Units)
- Below 400cc
- 400cc-800cc
- Above 800cc
All-Terrain Vehicle Market by Application, 2023-2029, (USD Million) (Thousand Units)
- Agriculture
- Sports
- Recreational
- Military And Defence
All-Terrain Vehicle Market by Regions, 2023-2029, (USD Million) (Thousand Units)
- North America
- Europe
- Asia Pacific
- South America
- Middle East and Africa
Important Countries in All Regions Are Covered
Key Target Audience
- Clinic Service Providers
- Clinic Equipment Distributors
- Clinic Equipment Manufacturers
- Clinics
- Hospitals
- Healthcare Companies
- Pharmaceutical Companies
- Market Research and Consulting Firms
- Government Bodies & Regulating Authorities
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Key impacts of this market:
- Comprehensive assessment of all opportunities and risks in this market
- This market offers the latest innovations and major events
- Detailed study of business strategies for growth of these market-leading players
- A definitive study on the growth plans of the market in the coming years
- In-depth understanding of these market-specific factors, constraints and major micro markets.
- Favorable impression inside vital technological and market latest trends striking this market
- Providing country-level market analysis on current market size and future prospects
Read Exactitude Consultancy’s research report on the global automotive industry: https://exactitudeconsultancy.com/product-category/automotive-transportation/
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