— Market for ATV to grow at 7% CAGR And reach remarkable market value between 2019 to 2023 due to the growing economy of the country is leading to higher purchasing power and spending capacity of individuals and societies for these leisure and adventure vehicles, according to ATV Global Market Report published by “Market Research Future”.
All-Terrain Vehicle (ATV) Market Overview:
The Key Players In The Global All-Terrain Vehicle (ATV) Market Analyzed In Report:
Robert Bosch GmbH (Germany), Continental AG (Germany), ZF Friedrichshafen AG (Germany), Denso Corporation (Japan), JTEKT Corporation (Japan), Nexteer Automotive (U.S.), and Mitsubishi Electric Corporation (Japan). Mando Corp. (South Korea), Borgwarner Inc. (U.S.), Delphi Automotive PLC (U.K.), Johnson Electric (Hong Kong), and Hitachi Automotive Systems, Ltd. (Japan) are among others.
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Secondly, competitions involving all-terrain vehicles in the developed nations lead to greater tourism, which further drives this market. Thirdly, all-terrain vehicles present an easier option to people with disabilities or physical shortcomings to explore the natural terrain, which otherwise would have been a problem. All these reasons justify the consistent expected growth of the global all-terrain vehicle market, which is expected to expand at 7% CAGR (2018 to 2023).
The strict government rules and regulation for ride an All-Terrain Vehicle (ATV) are expected to adversely impact the All-Terrain vehicle market in the future. Additionally, the customer base of riders below 18 years of age, may not have proper guidance for riding the ATV, which may result into accident. This will be restraining factor for the growth of the market.
All-Terrain Vehicle (ATV) Market Segments Analysis:
On the basis of vehicle type, the sports utility category is the most widely sold and popular among customers. The sports utility ATVs are generally used explicitly for racing purpose. These vehicles thus tend be lighter, smaller and faster than other ATVs. These vehicles are easy to maneuver and thus, sudden and swift actions such as accelerating, and cornering become easier with their use. These are generally rear wheel drive, which in rare cases can be custom made and converted into a four-wheel drive vehicle. They are installed with robust and strong suspension system to ease the jerks while speeding or landing on the racing track. The utility ATVs are built with either four-wheel drive or two-wheel drive. They are generally used for towing large and heavy loads and thus, are often fitted with hooks, fenders and other accessories to help in the cargo transport.
The touring ATVs have the same application as cruiser motorcycles. They are mainly used for touring over long distances. They can be maneuvered through multiple surfaces such as smooth roads, rocky terrains, uneven & muddy patches, and forest trails. These vehicles thus have larger engine capacity and a decent engine fuel mileage to aid long-distance travel. These are quite large in size compared to the sports utility vehicle but require less maintenance comparatively since the engine is not subjected to extreme and differential load over a short duration
All-Terrain Vehicle (ATV) Market Regional Analysis:
Geographically, the ATV market span across regions namely, Europe, North America, Asia Pacific, and Rest-of-the-World (RoW).
North America region leads the global production and sales of all types of ATVs. Countries such as U.S. and Canada have a vast and diverse landscape ranging from mountain ranges to huge forest spaces. ATV manufacturers thus, develop different vehicles, which can be used in different scenarios and landscapes. The biggest attraction in regard to ATVs in the U.S. is the annual ATV motorsport competition involving different formats such as snow racing, mountain terrain, rocky terrain, plain surface terrain. Thus, ATV competition causes significant growth in the tourism adding to the economy, which ultimately leads to the growth of this market.
TABLE OF CONTENTS:
1 EXECUTIVE SUMMARY
2 SCOPE OF THE REPORT
2.1 MARKET DEFINITION
2.2 SCOPE OF THE STUDY
2.2.1 RESEARCH OBJECTIVES
2.2.2 ASSUMPTIONS & LIMITATIONS
2.3 MARKETS STRUCTURE
3 MARKET RESEARCH METHODOLOGY
3.1 RESEARCH PROCESS
3.2 SECONDARY RESEARCH
3.3 PRIMARY RESEARCH
3.4 FORECAST MODEL
4 MARKET LANDSCAPE
4.1 FIVE FORCES ANALYSIS
4.1.1 THREAT OF NEW ENTRANTS
4.1.2 BARGAINING POWER OF BUYERS
4.1.3 BARGAINING POWER OF SUPPLIERS
4.1.4 THREAT OF SUBSTITUTES
4.1.5 SEGMENT RIVALRY
4.2 VALUE CHAIN/SUPPLY CHAIN OF GLOBAL ATV MARKET
5 INDUSTRY OVERVIEW OF GLOBAL ATV MARKET
5.2 GROWTH DRIVERS
5.3 IMPACT ANALYSIS
5.4 MARKET CHALLENGES
LIST OF TABLES:
TABLE 1 GLOBAL ATV MARKET: BY REGION, 2017-2023
TABLE 2 NORTH AMERICA ATV MARKET: BY COUNTRY, 2017-2023
TABLE 3 EUROPE ATV MARKET: BY COUNTRY, 2017-2023
TABLE 4 ASIA PACIFIC ATV MARKET: BY COUNTRY, 2017-2023
TABLE 5 MIDDLE EAST & AFRICA ATV MARKET: BY COUNTRY, 2017-2023
TABLE 6 LATIN AMERICA ATV MARKET: BY COUNTRY, 2017-2023
LIST OF FIGURES:
FIGURE 1 GLOBAL ATV MARKET SEGMENTATION
FIGURE 2 FORECAST METHODOLOGY
FIGURE 3 FIVE FORCES ANALYSIS OF GLOBAL ATV MARKET
FIGURE 4 VALUE CHAIN OF GLOBAL ATV MARKET
FIGURE 5 SHARE OF GLOBAL ATV MARKET IN 2017, BY COUNTRY (IN %)
FIGURE 6 GLOBAL ATV MARKET, 2017-2023,
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