January 31, 2020
According to a recent study titled ‘All-Terrain Vehicle (ATV) Market Size By Product (Youth, Adult), By Displacement (Below 400cc, 400 - 800cc, Above 800cc), By Application (Utility, Sports, Recreation, Military) Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, UK, France, Italy, Spain, Russia, Sweden, China, India, Japan, Australia, Brazil, Mexico, Argentina, Saudi Arabia, UAE, South Africa), Growth Potential, Price Trends, Competitive Market Share & Forecast, 2019 - 2025’, available with Market Study Report LLC, the global all-terrain vehicle (ATV) market is expected to grow considerably during 2019-2025.
Increasing recreational expenditure, in tandem with thriving off-roading events are propelling the growth of all-terrain vehicle (ATV) market. The ability to drive through varying terrains along with increasing applications across agriculture, sports, military, and forestry is boosting the demand for ATVs. Availability to wide arrange of products at diverse price range is further widening the customer base.
Increasing investments in R&D for developing technologically advanced all-terrain vehicles along with introduction of autonomous driving technologies will fuel the growth of all-terrain vehicle (ATV) market in the forthcoming years. In addition, rising focus of manufacturers towards offering superior engines to comply with stringent emission regulations will positively impact the market outlook.
However, rising instances of rash driving and lack of suitable safety gears have led to an increased number of accidents, hence hampering the growth of all-terrain vehicle (ATV) market. According to the Consumer Federation of America, ATV related fatalities accounted for around 300 deaths in 2018 alone.
As per the product type, youth ATV segment is slated to grow considerably during the forecast period, on account of increasing number of youth participants. Also, product appeal plays a key role for the segmental growth. For instance, Polaris ATVs offer ‘Ride Command’ application which enables parents to track the vehicle along with speed limiting and geofencing features.
Based on the displacement range, above 800cc all-terrain vehicle market segment is projected to account for substantial volume share by the year 2025, owing to increasing number of off-roading events across the globe. Moreover, in an effort to boost sales & product demand, industry leaders are focusing on rolling out legalized on-road ATVs.
In terms of application, all-terrain vehicle market from military segment is expected to be in the forefront during forecast timeframe. ATVs are extensively used by military personnel owing to its compactness, excellent power, and torque output along with the ability to traverse varying geographies. Rising number of contracts from military organizations will help the all-terrain vehicle (ATV) market to grow steadily in the coming years.
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Considering the regional landscape, North America all-terrain vehicle market is anticipated to gain traction over the forthcoming period, pertaining to high density of off-roading trails across the region. Popularity of events like Pro Quad Championship and Grand National Cross Country, coupled with professional training extended by ATV Safety Institute will favor the regional market outlook.
Some of the industry leaders operating in all-terrain vehicle (ATV) market are Polaris Industries, Inc., Bombardier Recreational Products, HiSun Motors, Honda Motor Co., Ltd, Yamaha, Textron Industries, Suzuki Motor Corporation, and Kawasaki Motors Corporation.
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