All-terrain Vehicle Market
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The all-terrain vehicle market is projected to grow at a CAGR 3.10% rate during the forecast period. The increasing demand for ATVs in military, agriculture, and sports applications is the major factor driving the market.
AWD is projected to be the fastest growing segment of the all-terrain vehicle market. In AWD ATVs, the engine’s power is divided among all the wheels of an ATV. AWD ATVs are designed for active safety of riders, offering them twice the grip. In a tricky situation where the path is slippery and immediate adhesive friction is required to move safely into a merging terrain, AWDs come to the fore. All the wheels get engaged and deliver the required level of traction to negotiate the path or terrain safely. Increasing ATV production and the rising focus on safety features will drive the market for AWD ATVs in the near future.
The sales of two seat ATVs is estimated to grow at a high rate. With increased demand for two seat ATVs in the tourism industry, two seat ATVs will gradually take over the share of one seat ATVs. According to industry insights, the demand for 2 seat ATVs will grow exponentially in North America because of its increasing demand in agriculture and military sectors.
Gasoline is projected to be the largest segment of all-terrain vehicles market, by fuel type. It attracts many suppliers and manufacturers for business investments. Gasoline is expected to dominate the market in the coming years with increased demand for gasoline ATVs in applications such as sports and military. Moreover, electric ATVs have less acceptance globally because they generate less power as compared to gasoline.
North America is projected to hold the largest share during the forecast period. Factors such as high demand for ATV, upcoming electric vehicle projects, high disposable income of individuals, and scope for new and advanced technologies, developed economy, and government regulations regarding ATV designs have triggered the demand for all-terrain vehicles in the region. According to industry insights, the US accounts for the largest share of the market owing to high demand in applications such as military, agriculture, sports, entertainment, hunting, forestry, mining, and construction activities.
Key Market Players include Polaris Industries (US), Textron (US), Honda (Japan), Kawasaki (Japan), Suzuki (Japan), and BRP (Canada).
Key Questions Addressed by the Report
- Which application will lead the ATV market in the future?
- How will government regulations impact the ATV market globally?
- How would the trend of electric ATVs impact the market over the next 5 years?
- What is the share of sport and utility ATVs in the total ATV sales?
2. Research Methodology
Limitation and Assumptions
3. Executive Overview
4. Market Overview
5. All-Terrain Vehicle Market, By Application
Military and defense
6. All-Terrain Vehicle Market, By Seating Capacity
7. All-Terrain Vehicle Market, By Engine Capacity
Less than 400cc
400 to 800 cc
More than 800cc
8. All-Terrain Vehicle Market, By Fuel Type
9. All-Terrain Vehicle Market, By Region
Rest of Europe
Rest of APAC
Rest of Middle East
Rest of the World
10. Company Profiles
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