Oct 10, 2019 (AB Digital via COMTEX) -- According to a new market research report published by Market Research Future “ All-Terrain Vehicle Market Analysis From 2019 to 2023 by Vehicle Type (Sports Utility, Utility, Recreational, Sports, Touring, Others), Displacement (Low, Mid, High), Application (Sports, Entertainment, Agriculture, Military, Hunting, Others), and Region”, the global All-Terrain Vehicle market accounted to hit the notable market value in 2023 and expected to witness CAGR of 7% across the forecast period through 2019 to 2023. Report provides comprehensive information on Global All-Terrain Vehicle Market key players, share, Sales, revenue, industry size in terms of volume.
Key Companies Covered –
BMW (Germany), Honda Motor Company, Ltd. (Japan), CFMOTO Powersports Inc. (U.S.), Yamaha Motor Company Limited (Japan), KTM AG (Austria), Arctic Cat (U.S.), Kawasaki Heavy Industries Ltd. (Japan), Suzuki Motor Corporation (Japan), Bombardier Recreational Products (Canada), and Polaris Industries Inc. (U.S.) are the notable players in the global all-terrain vehicle market.
Free Sample Copy of “All-Terrain Vehicle Market Research Report – Global Forecast to 2023” available at: https://www.marketresearchfuture.com/sample_request/5594
All-Terrain Vehicle Industry Insight:
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. All-terrain vehicles are a niche automotive segment that is designed with a seat height lower than that of traditional bikes and have four wheels. They are controlled by steering which allows the rider to maneuver through rougher terrains. Market Research Future (MRFR's) latest report on the global all-terrain vehicle market has predicted a CAGR of 7% over the forecast period of 2018-2023.
The report offers insights into the leading market players and presents an assessment of their current market position. Company information with regards to revenue, segmental share, geographical income, SWOT, growth strategies, new product launch, M&A activities, and the latest R&D initiatives is also available in the report.
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-Terrain Vehicle Market Segment Analysis:
The all-terrain vehicle market has been segmented based on vehicle type, displacement, and application.
By vehicle type, the all-terrain vehicle market has been segmented into sports utility, utility, recreational, sports, touring, and others. The sports utility sector segment is exhibiting considerable growth. Sports utility ATVs are lighter, faster, and smaller due to which they are extensively used for racing purposes. These vehicles allow easy maneuverability and swift actions such as accelerating and cornering.
Utility ATVs are used for towing large and heavy loads in cargo transport. The touring ATVs are used for touring over long distances as they can be maneuvered through smooth rough surfaces such as rocky terrains, uneven and muddy patches, and forest trails. Touring ATVs are large in size but require less maintenance as compared to sports utility ATVs.
By displacement, the all-terrain vehicle market has been segmented into high CC, low CC, and mid CC.
By application, the all-terrain vehicle market has been segmented into sports, entertainment, military, agriculture, hunting, and others.
The global All-Terrain Vehicle market is geographically distributed across the following key regions: Asia Pacific, North America, Europe, and the Rest of the World (RoW).
The Asia Pacific region dominated the Global All-Terrain Vehicle (ATV) Market in 2016, with North America and Europe closely following.
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 regarding 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.
Europe is an important revenue pocket for all-terrain vehicle market spurred by the presence of various ATV engine manufacturers in the region. The increasing popularity of trail riding and off-roading in the region has also been favorable for market growth.
List of Tables:
TABLE 1 MARKET SYNOPSIS