All-terrain vehicle market size to grow by USD 1,660.92 million between 2022 and 2027; Growth driven by the growing use of ATVs in recreational, sports, and military applications – Technavio

NEW YORK, April 3, 2023 /PRNewswire/ — The all-terrain vehicle market size is forecast to increase by USD 1,660.92 million from 2022 to 2027, at a CAGR of 7.59%, according to the recent market study by Technavio. The growth of the market will be driven by the growing use of ATVs in recreational, sports, and military applications; the increasing demand for ATVs for recreational and adventurous sports activities; and the rising demand for ATVs. Charts & data tables about market and segment sizes for a historic period (2017-2021) and forecast period (2023-2027) have been covered in this report. Download the Sample Report

Vendor Analysis

The ATV market in the US, Canada, and other countries is moderately competitive. The market will experience more consolidation because of increased competition among the competitors. To survive and succeed in this competitive environment, vendors need to distinguish their products and service offerings through product differentiation, cost differentiation, or a mix of both. However, moderate product differentiation among market vendors is expected to continue to limit the competitive rivalry to some extent. Thus, the competition in the market will be moderate during the forecast period. Some of the key vendors covered in the report include:

• Bombardier Recreational Products Inc.: The company offers all-terrain vehicles such as snowmobiles.
• HISUN Motors Corp.: The company offers all-terrain vehicles such as side-by-side and recreational ATVs. 
• Honda Motor Co. Ltd: The company offers all-terrain vehicles such as recreational ATVs.
• Kayo USA: The company offers all-terrain vehicles such as side-by-side and recreational ATVs
• Kubota Corp.
• Massimo Motor Sports LLC
• Nebula Automotive Pvt. Ltd.
• Polaris Inc.
• SHERP
• Suzuki Motor Corp.
• Taiwan Golden Bee Co. Ltd.
• Tao Motor Inc.
• Textron Inc.
• TOMCAR
• Yamaha Motor Co. Ltd.

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Key Benefits for Industry Players & Stakeholders – 

• The report offers information on the criticality of vendor inputs, including R&D, CAPEX, and technology.
• It also provides detailed analyses of the market’s competitive landscape and vendors’ product offerings.
• The report also provides a qualitative and quantitative analysis of vendors to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize vendors as dominant, leading, strong, tentative, and weak.

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Market Segmentation:

The market is segmented by engine capacity (400cc-800cc, below 400cc, and above 800cc), application (recreational, sports, agriculture, and military and defense), and geography (North America, Europe, APAC, Middle East and Africa, and South America). 

• By engine capacity, the market growth will be significant in the 400cc-800cc segment during the forecast period. There is a wide range of ATVs that fall into the 400cc to 800cc segment and are heavier than ATVs under 400cc. Off-road bikes like this are more powerful and designed for rough terrain. All-terrain bikes with displacements from 400cc to 800cc are widely used by the Army, Navy, and Special Operations Forces. ATVs provide individuals with off-road mobility for deploying special forces in harsh environments and a variety of special operations.
• By application, the market will witness increased demand for recreational vehicles during the forecast period. ATVs are compatible with inaccessible designs, which makes them very useful for leisure/recreational activities. Moreover, the growing tourism industry and the rising popularity of quad bikes as recreational activities will drive the growth of the recreational segment in the global ATV market during the forecast period.
• North America will account for 56% of the market growth during the forecast period. Factors such as the high popularity of and demand for off-road vehicles such as ATVs in the US and Canada have contributed to regional market share. In addition, the presence of numerous off-road adventure activities in North America has played an important role in driving the popularity and sales of ATVs.

Market Dynamics:

Key Drivers:

• Growing use of ATVs in recreational, sports, and military applications
• Increasing demand for ATVs for recreational and adventurous sports activities
• Rising demand for ATVs

The demand for global all-terrain vehicles is increasing because of their ability to move quickly in mountainous and rocky terrains. The preference for recreational activities and adventure among consumers globally, especially among tourists, is growing each year. These activities include off-roading, mountain racing, and dirt racing, where ATVs have wide applications. The use of ATVs for military purposes has also increased, where these vehicles are used extensively for transportation purposes to remote areas. These factors will contribute to the growth of the market during the forecast period.

Major Trends:

• Increasing number of ATV experience zones
• Growing penetration of CVT systems in ATVs
• Advances in autonomous ATVs

To increase the awareness and popularity of ATVs among consumers, several prominent manufacturers have been conducting promotional activities and events. Prominent ATV manufacturers are promoting the popularity of ATVs among consumers through awareness activities. They are also making consistent efforts to expand their dealership networks across North America and Europe. For instance, in India, Polaris has Experience Zones in many states, including Maharashtra and Karnataka. PEZ is an arena that focuses on outdoor, off-road, and adventure activities. In such zones, riders and off-road enthusiasts can use off-road vehicles such as ATVs. This increases the visibility of ATVs among consumers and drives market sales.

Key Challenges:

• Environmental concerns due to the increasing use of ATVs
• Legal limitations associated with off-road vehicles
• Lack of global acceptance as street-legal vehicles

ATVs are designed to aid in easy transportation on rough terrains and uneven off-road surfaces. According to biologists, the use of ATVs and other off-highway vehicles can damage the characteristics of the soil. This is because riding ATVs can lead to soil erosion and increase the bulk density, strength, and permeability of the soil. Moreover, behavioral changes and physiological responses in wild animals due to off-road activities are impacting the entire wildlife population. Such environmental factors will pose a challenge to the growth of the market during the forecast period.

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What are the key data covered in this All-terrain Vehicle Market report?

• CAGR of the market during the forecast period
• Detailed information on factors that will drive the growth of the all-terrain vehicle market between 2023 and 2027
• Precise estimation of the all-terrain vehicle market size and its contribution to the parent market
• Accurate predictions about upcoming trends and changes in consumer behavior
• Growth of the all-terrain vehicle market across North America, Europe, APAC, Middle East and Africa, and South America
• A thorough analysis of the market’s competitive landscape and detailed information about vendors
• Comprehensive analysis of factors that will challenge the growth of all-terrain vehicle market vendors

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Table of contents:

1 Executive Summary

• 1.1 Market overview 
• Exhibit 01: Executive Summary – Chart on Market Overview
• Exhibit 02: Executive Summary – Data Table on Market Overview
• Exhibit 03: Executive Summary – Chart on Global Market Characteristics
• Exhibit 04: Executive Summary – Chart on Market by Geography
• Exhibit 05: Executive Summary – Chart on Market Segmentation by Engine Capacity
• Exhibit 06: Executive Summary – Chart on Market Segmentation by Application
• Exhibit 07: Executive Summary – Chart on Incremental Growth
• Exhibit 08: Executive Summary – Data Table on Incremental Growth
• Exhibit 09: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

• 2.1 Market ecosystem 
• Exhibit 10: Parent market
• Exhibit 11: Market Characteristics

3 Market Sizing

• 3.1 Market definition 
• Exhibit 12: Offerings of vendors included in the market definition

• 3.2 Market segment analysis 
• Exhibit 13: Market segments

• 3.3 Market size 2022 

• 3.4 Market outlook: Forecast for 2022-2027
• Exhibit 14: Chart on Global – Market size and forecast 2022-2027 ($ million)
• Exhibit 15: Data Table on Global – Market size and forecast 2022-2027 ($ million)
• Exhibit 16: Chart on Global Market: Year-over-year growth 2022-2027 (%)
• Exhibit 17: Data Table on Global Market: Year-over-year growth 2022-2027 (%)

4 Historic Market Size

• 4.1 Global all-terrain vehicle market 2017 – 2021
• Exhibit 18: Historic Market Size – Data Table on Global all-terrain vehicle market 2017 – 2021 ($ million)

• 4.2 Engine capacity Segment Analysis 2017 – 2021
• Exhibit 19: Historic Market Size – Engine capacity Segment 2017 – 2021 ($ million)

• 4.3 Applicaton Segment Analysis 2017 – 2021
• Exhibit 20: Historic Market Size – Applicaton Segment 2017 – 2021 ($ million)

• 4.4 Geography Segment Analysis 2017 – 2021
• Exhibit 21: Historic Market Size – Geography Segment 2017 – 2021 ($ million)

• 4.5 Country Segment Analysis 2017 – 2021
• Exhibit 22: Historic Market Size – Country Segment 2017 – 2021 ($ million)

5 Five Forces Analysis

• 5.1 Five forces summary 
• Exhibit 23: Five forces analysis – Comparison between 2022 and 2027

• 5.2 Bargaining power of buyers 
• Exhibit 24: Chart on Bargaining power of buyers – Impact of key factors 2022 and 2027

• 5.3 Bargaining power of suppliers 
• Exhibit 25: Bargaining power of suppliers – Impact of key factors in 2022 and 2027

• 5.4 Threat of new entrants 
• Exhibit 26: Threat of new entrants – Impact of key factors in 2022 and 2027

• 5.5 Threat of substitutes 
• Exhibit 27: Threat of substitutes – Impact of key factors in 2022 and 2027

• 5.6 Threat of rivalry 
• Exhibit 28: Threat of rivalry – Impact of key factors in 2022 and 2027

• 5.7 Market condition 
• Exhibit 29: Chart on Market condition – Five forces 2022 and 2027

6 Market Segmentation by Engine Capacity

• 6.1 Market segments 
• Exhibit 30: Chart on Engine Capacity – Market share 2022-2027 (%)
• Exhibit 31: Data Table on Engine Capacity – Market share 2022-2027 (%)

• 6.2 Comparison by Engine Capacity 
• Exhibit 32: Chart on Comparison by Engine Capacity
• Exhibit 33: Data Table on Comparison by Engine Capacity

• 6.3 400cc-800cc – Market size and forecast 2022-2027
• Exhibit 34: Chart on 400cc-800cc – Market size and forecast 2022-2027 ($ million)
• Exhibit 35: Data Table on 400cc-800cc – Market size and forecast 2022-2027 ($ million)
• Exhibit 36: Chart on 400cc-800cc – Year-over-year growth 2022-2027 (%)
• Exhibit 37: Data Table on 400cc-800cc – Year-over-year growth 2022-2027 (%)

• 6.4 Below 400cc – Market size and forecast 2022-2027
• Exhibit 38: Chart on Below 400cc – Market size and forecast 2022-2027 ($ million)
• Exhibit 39: Data Table on Below 400cc – Market size and forecast 2022-2027 ($ million)
• Exhibit 40: Chart on Below 400cc – Year-over-year growth 2022-2027 (%)
• Exhibit 41: Data Table on Below 400cc – Year-over-year growth 2022-2027 (%)

• 6.5 Above 800cc – Market size and forecast 2022-2027
• Exhibit 42: Chart on Above 800cc – Market size and forecast 2022-2027 ($ million)
• Exhibit 43: Data Table on Above 800cc – Market size and forecast 2022-2027 ($ million)
• Exhibit 44: Chart on Above 800cc – Year-over-year growth 2022-2027 (%)
• Exhibit 45: Data Table on Above 800cc – Year-over-year growth 2022-2027 (%)

• 6.6 Market opportunity by Engine Capacity
• Exhibit 46: Market opportunity by Engine Capacity ($ million)

7 Market Segmentation by Application

• 7.1 Market segments 
• Exhibit 47: Chart on Application – Market share 2022-2027 (%)
• Exhibit 48: Data Table on Application – Market share 2022-2027 (%)

• 7.2 Comparison by Application 
• Exhibit 49: Chart on Comparison by Application
• Exhibit 50: Data Table on Comparison by Application

• 7.3 Recreational – Market size and forecast 2022-2027
• Exhibit 51: Chart on Recreational – Market size and forecast 2022-2027 ($ million)
• Exhibit 52: Data Table on Recreational – Market size and forecast 2022-2027 ($ million)
• Exhibit 53: Chart on Recreational – Year-over-year growth 2022-2027 (%)
• Exhibit 54: Data Table on Recreational – Year-over-year growth 2022-2027 (%)

• 7.4 Sports – Market size and forecast 2022-2027 
• Exhibit 55: Chart on Sports – Market size and forecast 2022-2027 ($ million)
• Exhibit 56: Data Table on Sports – Market size and forecast 2022-2027 ($ million)
• Exhibit 57: Chart on Sports – Year-over-year growth 2022-2027 (%)
• Exhibit 58: Data Table on Sports – Year-over-year growth 2022-2027 (%)

• 7.5 Agriculture – Market size and forecast 2022-2027
• Exhibit 59: Chart on Agriculture – Market size and forecast 2022-2027 ($ million)
• Exhibit 60: Data Table on Agriculture – Market size and forecast 2022-2027 ($ million)
• Exhibit 61: Chart on Agriculture – Year-over-year growth 2022-2027 (%)
• Exhibit 62: Data Table on Agriculture – Year-over-year growth 2022-2027 (%)

• 7.6 Military and defense – Market size and forecast 2022-2027 
• Exhibit 63: Chart on Military and defense – Market size and forecast 2022-2027 ($ million)
• Exhibit 64: Data Table on Military and defense – Market size and forecast 2022-2027 ($ million)
• Exhibit 65: Chart on Military and defense – Year-over-year growth 2022-2027 (%)
• Exhibit 66: Data Table on Military and defense – Year-over-year growth 2022-2027 (%)

• 7.7 Market opportunity by Application 
• Exhibit 67: Market opportunity by Application ($ million)

8 Customer Landscape

• 8.1 Customer landscape overview 
• Exhibit 68: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

9 Geographic Landscape

• 9.1 Geographic segmentation 
• Exhibit 69: Chart on Market share by geography 2022-2027 (%)
• Exhibit 70: Data Table on Market share by geography 2022-2027 (%)

• 9.2 Geographic comparison 
• Exhibit 71: Chart on Geographic comparison
• Exhibit 72: Data Table on Geographic comparison

• 9.3 North America – Market size and forecast 2022-2027
• Exhibit 73: Chart on North America – Market size and forecast 2022-2027 ($ million)
• Exhibit 74: Data Table on North America – Market size and forecast 2022-2027 ($ million)
• Exhibit 75: Chart on North America – Year-over-year growth 2022-2027 (%)
• Exhibit 76: Data Table on North America – Year-over-year growth 2022-2027 (%)

• 9.4 Europe – Market size and forecast 2022-2027
• Exhibit 77: Chart on Europe – Market size and forecast 2022-2027 ($ million)
• Exhibit 78: Data Table on Europe – Market size and forecast 2022-2027 ($ million)
• Exhibit 79: Chart on Europe – Year-over-year growth 2022-2027 (%)
• Exhibit 80: Data Table on Europe – Year-over-year growth 2022-2027 (%)

• 9.5 APAC – Market size and forecast 2022-2027
• Exhibit 81: Chart on APAC – Market size and forecast 2022-2027 ($ million)
• Exhibit 82: Data Table on APAC – Market size and forecast 2022-2027 ($ million)
• Exhibit 83: Chart on APAC – Year-over-year growth 2022-2027 (%)
• Exhibit 84: Data Table on APAC – Year-over-year growth 2022-2027 (%)

• 9.6 Middle East and Africa – Market size and forecast 2022-2027 
• Exhibit 85: Chart on Middle East and Africa – Market size and forecast 2022-2027 ($ million)
• Exhibit 86: Data Table on Middle East and Africa – Market size and forecast 2022-2027 ($ million)
• Exhibit 87: Chart on Middle East and Africa – Year-over-year growth 2022-2027 (%)
• Exhibit 88: Data Table on Middle East and Africa – Year-over-year growth 2022-2027 (%)

• 9.7 South America – Market size and forecast 2022-2027
• Exhibit 89: Chart on South America – Market size and forecast 2022-2027 ($ million)
• Exhibit 90: Data Table on South America – Market size and forecast 2022-2027 ($ million)
• Exhibit 91: Chart on South America – Year-over-year growth 2022-2027 (%)
• Exhibit 92: Data Table on South America – Year-over-year growth 2022-2027 (%)

• 9.8 US – Market size and forecast 2022-2027
• Exhibit 93: Chart on US – Market size and forecast 2022-2027 ($ million)
• Exhibit 94: Data Table on US – Market size and forecast 2022-2027 ($ million)
• Exhibit 95: Chart on US – Year-over-year growth 2022-2027 (%)
• Exhibit 96: Data Table on US – Year-over-year growth 2022-2027 (%)

• 9.9 Germany – Market size and forecast 2022-2027
• Exhibit 97: Chart on Germany – Market size and forecast 2022-2027 ($ million)
• Exhibit 98: Data Table on Germany – Market size and forecast 2022-2027 ($ million)
• Exhibit 99: Chart on Germany – Year-over-year growth 2022-2027 (%)
• Exhibit 100: Data Table on Germany – Year-over-year growth 2022-2027 (%)

• 9.10 Australia – Market size and forecast 2022-2027
• Exhibit 101: Chart on Australia – Market size and forecast 2022-2027 ($ million)
• Exhibit 102: Data Table on Australia – Market size and forecast 2022-2027 ($ million)
• Exhibit 103: Chart on Australia – Year-over-year growth 2022-2027 (%)
• Exhibit 104: Data Table on Australia – Year-over-year growth 2022-2027 (%)

• 9.11 France – Market size and forecast 2022-2027
• Exhibit 105: Chart on France – Market size and forecast 2022-2027 ($ million)
• Exhibit 106: Data Table on France – Market size and forecast 2022-2027 ($ million)
• Exhibit 107: Chart on France – Year-over-year growth 2022-2027 (%)
• Exhibit 108: Data Table on France – Year-over-year growth 2022-2027 (%)

• 9.12 Canada – Market size and forecast 2022-2027
• Exhibit 109: Chart on Canada – Market size and forecast 2022-2027 ($ million)
• Exhibit 110: Data Table on Canada – Market size and forecast 2022-2027 ($ million)
• Exhibit 111: Chart on Canada – Year-over-year growth 2022-2027 (%)
• Exhibit 112: Data Table on Canada – Year-over-year growth 2022-2027 (%)

• 9.13 Market opportunity by geography 
• Exhibit 113: Market opportunity by geography ($ million)

10 Drivers, Challenges, and Trends

• 10.1 Market drivers 

• 10.2 Market challenges 

• 10.3 Impact of drivers and challenges 
• Exhibit 114: Impact of drivers and challenges in 2022 and 2027

• 10.4 Market trends 

11 Vendor Landscape

• 11.1 Overview 

• 11.2 Vendor landscape 
• Exhibit 115: Overview on Criticality of inputs and Factors of differentiation

• 11.3 Landscape disruption 
• Exhibit 116: Overview on factors of disruption

• 11.4 Industry risks 
• Exhibit 117: Impact of key risks on business

12 Vendor Analysis

• 12.1 Vendors covered 
• Exhibit 118: Vendors covered

• 12.2 Market positioning of vendors 
• Exhibit 119: Matrix on vendor position and classification

• 12.3 Bombardier Recreational Products Inc.
• Exhibit 120: Bombardier Recreational Products Inc. – Overview
• Exhibit 121: Bombardier Recreational Products Inc. – Business segments
• Exhibit 122: Bombardier Recreational Products Inc. – Key offerings
• Exhibit 123: Bombardier Recreational Products Inc. – Segment focus

• 12.4 HISUN Motors Corp. 
• Exhibit 124: HISUN Motors Corp. – Overview
• Exhibit 125: HISUN Motors Corp. – Product / Service
• Exhibit 126: HISUN Motors Corp. – Key offerings

• 12.5 Honda Motor Co. Ltd 
• Exhibit 127: Honda Motor Co. Ltd – Overview
• Exhibit 128: Honda Motor Co. Ltd – Business segments
• Exhibit 129: Honda Motor Co. Ltd – Key news
• Exhibit 130: Honda Motor Co. Ltd – Key offerings
• Exhibit 131: Honda Motor Co. Ltd – Segment focus

• 12.6 Kawasaki Heavy Industries Ltd. 
• Exhibit 132: Kawasaki Heavy Industries Ltd. – Overview
• Exhibit 133: Kawasaki Heavy Industries Ltd. – Business segments
• Exhibit 134: Kawasaki Heavy Industries Ltd. – Key news
• Exhibit 135: Kawasaki Heavy Industries Ltd. – Key offerings
• Exhibit 136: Kawasaki Heavy Industries Ltd. – Segment focus

• 12.7 Mahindra and Mahindra Ltd. 
• Exhibit 137: Mahindra and Mahindra Ltd. – Overview
• Exhibit 138: Mahindra and Mahindra Ltd. – Business segments
• Exhibit 139: Mahindra and Mahindra Ltd. – Key news
• Exhibit 140: Mahindra and Mahindra Ltd. – Key offerings
• Exhibit 141: Mahindra and Mahindra Ltd. – Segment focus

• 12.8 Nebula Automotive Pvt. Ltd. 
• Exhibit 142: Nebula Automotive Pvt. Ltd. – Overview
• Exhibit 143: Nebula Automotive Pvt. Ltd. – Product / Service
• Exhibit 144: Nebula Automotive Pvt. Ltd. – Key offerings

• 12.9 Polaris Inc. 
• Exhibit 145: Polaris Inc. – Overview
• Exhibit 146: Polaris Inc. – Business segments
• Exhibit 147: Polaris Inc. – Key offerings
• Exhibit 148: Polaris Inc. – Segment focus

• 12.10 SHERP 
• Exhibit 149: SHERP – Overview
• Exhibit 150: SHERP – Business segments
• Exhibit 151: SHERP – Key offerings
• Exhibit 152: SHERP – Segment focus

• 12.11 Suzuki Motor Corp. 
• Exhibit 153: Suzuki Motor Corp. – Overview
• Exhibit 154: Suzuki Motor Corp. – Business segments
• Exhibit 155: Suzuki Motor Corp. – Key offerings
• Exhibit 156: Suzuki Motor Corp. – Segment focus

• 12.12 Taiwan Golden Bee Co. Ltd. 
• Exhibit 157: Taiwan Golden Bee Co. Ltd. – Overview
• Exhibit 158: Taiwan Golden Bee Co. Ltd. – Product / Service
• Exhibit 159: Taiwan Golden Bee Co. Ltd. – Key offerings

• 12.13 Tao Motor Inc. 
• Exhibit 160: Tao Motor Inc. – Overview
• Exhibit 161: Tao Motor Inc. – Business segments
• Exhibit 162: Tao Motor Inc. – Key offerings
• Exhibit 163: Tao Motor Inc. – Segment focus

• 12.14 Textron Inc. 
• Exhibit 164: Textron Inc. – Overview
• Exhibit 165: Textron Inc. – Business segments
• Exhibit 166: Textron Inc. – Key news
• Exhibit 167: Textron Inc. – Key offerings
• Exhibit 168: Textron Inc. – Segment focus

• 12.15 TOMCAR 
• Exhibit 169: TOMCAR – Overview
• Exhibit 170: TOMCAR – Business segments
• Exhibit 171: TOMCAR – Key offerings
• Exhibit 172: TOMCAR – Segment focus

• 12.16 Yamaha Motor Co. Ltd. 
• Exhibit 173: Yamaha Motor Co. Ltd. – Overview
• Exhibit 174: Yamaha Motor Co. Ltd. – Business segments
• Exhibit 175: Yamaha Motor Co. Ltd. – Key news
• Exhibit 176: Yamaha Motor Co. Ltd. – Key offerings
• Exhibit 177: Yamaha Motor Co. Ltd. – Segment focus

• 12.17 ZHEJIANG CFMOTO POWER Co. Ltd. 
• Exhibit 178: ZHEJIANG CFMOTO POWER Co. Ltd. – Overview
• Exhibit 179: ZHEJIANG CFMOTO POWER Co. Ltd. – Product / Service
• Exhibit 180: ZHEJIANG CFMOTO POWER Co. Ltd. – Key offerings

13 Appendix

• 13.1 Scope of the report 

• 13.2 Inclusions and exclusions checklist
• Exhibit 181: Inclusions checklist
• Exhibit 182: Exclusions checklist

• 13.3 Currency conversion rates for US$ 
• Exhibit 183: Currency conversion rates for US$

• 13.4 Research methodology 
• Exhibit 184: Research methodology
• Exhibit 185: Validation techniques employed for market sizing
• Exhibit 186: Information sources

• 13.5 List of abbreviations 
• Exhibit 187: List of abbreviations

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