-- Report segments All-Terrain Vehicle Market by Vehicle Type (Sports Utility, Utility, Recreational, Sports, Touring, Others), Displacement (Low, Mid, High), Application (Sports, Entertainment, Agriculture, Military, Hunting, Others), and Region. Global market for All-Terrain Vehicle is to grow at 7% CAGR by 2023.
Global All-Terrain Vehicle Market Highlights:
All-Terrain Vehicle (ATV) are any non-road licensed vehicles that are used for recreational purpose or for riding off-the road. They can be driven on all-terrain roads including trail roads among others. They are most prepared in racing course, competitions, and adventure.
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Leading Players Studied In Report are:
Honda Motor Company, Ltd. (Japan), Polaris Industries Inc. (U.S.), Yamaha Motor Company Limited (Japan), Bombardier Recreational Products (Canada) and Arctic Cat (U.S.). Kawasaki Heavy Industries Ltd. (Japan), Suzuki Motor Corporation (Japan), CFMOTO Powersports Inc. (U.S.), KTM AG (Austria) and BMW (Germany) are the other main players in this market.
The governments have set various rules with respect to different age groups to mitigate the risk of accident. For instance, children below 12 years of age must be under strict monitoring while operating all-terrain vehicles, which makes it a restraint for the person to ride the ATVs. Individuals in the age group of 12 - 17 years should have a valid ATV certificate which makes it difficult for such riders to ride the ATV. The factors mentioned above are expected to act as a major restraint for the All-Terrain Vehicle market during the forecast.
There are several factors responsible for the growth of the global all-terrain vehicle market. Firstly, 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. 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).
Market Segmentation:
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 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
Regional Analysis:
On the basis of region, the market is segmented into North America, Asia Pacific, Europe, and Rest of the World. 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.
List Of Tables:
Table 1 Global All-Terrain Vehicle Market: By Region, 2017-2023
Table 2 North America All-Terrain Vehicle Market: By Country, 2017-2023
Table 3 Europe All-Terrain Vehicle Market: By Country, 2017-2023
Table 4 Asia Pacific All-Terrain Vehicle Market: By Country, 2017-2023
Table 5 RoW All-Terrain Vehicle Market: By Country, 2017-2023
Table 6 Global All-Terrain Vehicle Market, By Displacement, By Regions, 017-2023
Table 7 North America All-Terrain Vehicle Market, By Displacement, By Country, 2017-2023
Table 8 Europe All-Terrain Vehicle Market, By Displacement, By Country, 2017-2023
Table 9 Asia Pacific All-Terrain Vehicle Market By Displacement, By Country, 2017-2023
Continued…
List Of Figures:
FIGURE 1 Research Process Of MRFR
FIGURE 2 Top Down & Bottom Up Approach
FIGURE 3 Market Dynamics
FIGURE 4 Impact Analysis: Market Drivers
FIGURE 5 Impact Analysis: Market Restraints
FIGURE 6 Porter’s Five Forces Analysis
FIGURE 7 Value Chain Analysis
FIGURE 8 Global All-Terrain Vehicle Market Share, By Displacement, 2016 (%)
FIGURE 9 Global All-Terrain Vehicle Market, By Displacement, 2015-2023 (USD MILLION)
FIGURE 10 Global All-Terrain Vehicle Market Share, By Application, 2016 (%)
FIGURE 11 Global All-Terrain Vehicle Market, By Application, 2015-2023 (USD MILLION)
Continued…
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