Market Overview
The all-terrain vehicle market is anticipated to grow rapidly at a CAGR of 7% during the forecast period. The global all-terrain vehicle market is driven by increased engine capacity and other technological advancements. These factors have helped shape the all-terrain vehicle market and are expected to boost growth. Companies in the all-terrain vehicle market could also face challenges such as the vehicle not being considered legal to be ridden on the streets in a majority of countries.
The details covered in the all-terrain vehicle market report cover all the aspects of the industry. All-terrain vehicle market analysts have also shared growth projections in the report and have suggested all-terrain vehicle market players to plan growth strategies accordingly.
Various factors are fuelling the global all-terrain vehicle market growth. According to the recent MRFR market estimates, such factors include the growing inclination towards off-road sports activities across the globe, increasing number of adventure trails and parks, rising disposable income in emerging and developed nations, ongoing investment to improve vehicle performance and improve the consumer experience, increasing demand in agricultural and military applications, increasing disposable income, and increasing purchasing power in emerging and developed economies.
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On the contrary, increasing fatalities, fall in product demand due to the COVID-19 outbreak, stringency in government standards and criteria, and environmental issues like safety regulations, carbon emission, and terrain damage may limit the global all-terrain vehicle market growth over the forecast period.
Market Dynamics
The popularity of ATV as an outdoor recreation activity has increased dramatically in recent years. The increasing demand from the tourism sector can be seen as a significant driver for the global market for ATV engines. The development of high-performance engines also creates opportunities for market players. A large range of ATVs has emerged in recent years, which has led OEMs to continue to focus on developing engine technology. The global market for ATV engines was estimated at USD 1.755.6 million, with up to 80 HP engines making a significant contribution to market revenue.
Competitive Landscape
The all-terrain vehicle market is supported by competitions involving all-terrain vehicles in the developed nations. The population growth around the world and increasing demand of all-terrain vehicle market based services and products also support the market growth. However, the all-terrain vehicle market growth can be affected due to special permission requirements for driving. The report covers all such details which will help companies in the all-terrain vehicle market to strengthen their business plan and improve their product portfolio. The all-terrain vehicle market research report also provides company profiles of major companies. The company profiles of many organizations operating in the all-terrain vehicle market report highlights crucial details like company size, revenue growth, and details of mergers and acquisitions taking place in the all-terrain vehicle market. New companies and established businesses can plan their strategies based on this data provided in the all-terrain vehicle market research report.
Key Players
The leading players profiled in the all-terrain vehicle market report include BMW (Germany), KTM AG (Austria), CFMOTO Powersports Inc. (U.S.), Suzuki Motor Corporation (Japan), Kawasaki Heavy Industries Ltd. (Japan), Arctic Cat (U.S.), Bombardier Recreational Products (Canada), Yamaha Motor Company Limited (Japan), Polaris Industries Inc. (U.S.), and Honda Motor Company, Ltd. (Japan), among others. Mergers and acquisitions, strategic alliances, geographic expansions, new product launches and developments, partnerships, collaborations and joint ventures among others are the key strategies used by industry players to remain at the forefront. They are also making investments in research and development activities to cater to customers surging needs.
Market Segmentation
The global all-terrain vehicle market has been segmented based on type, application, and displacement. On the basis of type, the market for all-terrain vehicle is segmented based on utility, sports utility, sports, recreational, touring, and others. Additionally, the market on the basis of application, is segmented into entertainment, sports, agriculture, hunting, military, and others. The global market for all-terrain vehicle is also covered based on displacement segment which is further split into low, mid, high.
Factors like the rising economy contributing to greater individual buying power and spending potential support the all-terrain vehicle market growth. The performance of all-terrain vehicle market has also been studied for the past and current years. Additionally, the all-terrain vehicle market report provides analysis of these segments. The all-terrain vehicle market segmental analysis provided in the report offers major details about the all-terrain vehicle market performance and future.
Regional Overview
Companies in the all-terrain vehicle market are spread across the world. The all-terrain vehicle market report provides major information about regional markets of North America, Europe, Asia-Pacific (APAC), and the rest of the world. The North American all-terrain vehicle market has many companies across the United States, Canada, and Mexico. Europe has companies in the all-terrain vehicle market across Germany, France, Spain, Italy, and the United Kingdom. A detailed analysis of the all-terrain vehicle market across India, China, and Japan in the Asia-Pacific region is also presented in the report. The all-terrain vehicle market of the Middle East, Africa, and other regions has also been studied by analysts. The regional analysis of the all-terrain vehicle market can be found in the market research report.
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Industry News
In order to co-develop electric bikes, including ATVs and snowmobiles, Minnesota-based power sports outfit Polaris is partnering with Zero Motorcycles. An "exclusive, 10-year agreement" has been signed between the two firms, which Polaris said would kick launch an initiative to provide an electric version of any form of car that the company sells by 2025. Polaris manufactures a range of off-road cars, including the famous RZR lineup and garish three-wheelers such as the Slingshot. Indian Motorcycle, which it bought in 2011, also owns it.In electrification, Polaris has some experience. The firm purchased Global Electric Motorcars (GEM) in 2011, which manufacturers low-speed vehicles such as golf carts and shuttles. Since then, Wine has said that Polaris has manufactured and sold electric cars worth "over a billion dollars."
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