NEW
YORK, June 24, 2024 /PRNewswire/ -- The global
all-terrain vehicle (ATV) market size is estimated to grow by
USD 2.11 billion from 2024-2028,
according to Technavio. The market is estimated to grow at a CAGR
of 8.8% during the forecast period. Growing use of atvs in
recreational, sports, and military applications is driving market
growth, with a trend towards increasing number of atv experience
zones. However, environmental concerns due to increasing use of
atvs poses a challenge. Key market players include BMS Motorsports
Inc., Bombardier Recreational Products Inc., HISUN Motors Corp.,
Honda Motor Co. Ltd., Kawasaki Heavy Industries Ltd., Kayo
USA, Kubota Corp., Mahindra and
Mahindra Ltd., Massimo Motor Sports LLC, Nebula Automotive Pvt.
Ltd., Polaris Inc., SHERP, Suzuki Motor Corp., Taiwan Golden Bee
Co. Ltd., Tao Motor Inc., Textron Inc., TOMCAR, Yamaha Motor Co.
Ltd., and ZHEJIANG CFMOTO POWER
Co. Ltd..
![Technavio has announced its latest market research report titled Global all-terrain vehicle (ATV) market 2024-2028 Technavio has announced its latest market research report titled Global all-terrain vehicle (ATV) market 2024-2028](https://mma.prnewswire.com/media/2444861/Technavio_Global_all_terrain_vehicle_market.jpg)
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All-Terrain Vehicle
(Atv) Market Scope
|
Report
Coverage
|
Details
|
Base year
|
2023
|
Historic
period
|
2018 - 2022
|
Forecast
period
|
2024-2028
|
Growth momentum &
CAGR
|
Accelerate at a CAGR of
8.8%
|
Market growth
2024-2028
|
USD 2116.9
million
|
Market
structure
|
Fragmented
|
YoY growth 2022-2023
(%)
|
7.49
|
Regional
analysis
|
North America, Europe,
APAC, Middle East and Africa, and South America
|
Performing market
contribution
|
North America at
55%
|
Key
countries
|
US, Germany, Australia,
France, and Canada
|
Key companies
profiled
|
BMS Motorsports Inc.,
Bombardier Recreational Products Inc., HISUN Motors Corp., Honda
Motor Co. Ltd., Kawasaki Heavy Industries Ltd., Kayo USA, Kubota
Corp., Mahindra and Mahindra Ltd., Massimo Motor Sports LLC, Nebula
Automotive Pvt. Ltd., Polaris Inc., SHERP, Suzuki Motor Corp.,
Taiwan Golden Bee Co. Ltd., Tao Motor Inc., Textron Inc., TOMCAR,
Yamaha Motor Co. Ltd., and ZHEJIANG CFMOTO POWER Co.
Ltd.
|
Market Driver
The ATV market is experiencing growth due to manufacturers'
efforts to promote these vehicles through dedicated experience
zones. Polaris Inc. Is leading this trend with Polaris Experience
Zones (PEZs) in the US, Germany,
and India. These zones offer
real-life off-roading experiences, increasing ATV visibility and
sales. Land allocation and environmental approvals are crucial for
the development of these zones. In the US, states have granted land
for ATV riding circuits, contributing to market growth. The UAE's
focus on recreational activities will further boost sales.
The All-Terrain Vehicle (ATV) market is experiencing significant
growth with increasing consumer demand for versatile and powerful
vehicles. The industry is seeing a trend towards advanced
technologies such as automatic transmissions, improved suspensions,
and increased horsepower. Additionally, consumers are seeking more
comfortable and convenient features, including adjustable seats and
better storage solutions. The market is also witnessing a rise in
electric ATVs, offering quieter and more environmentally-friendly
options. Furthermore, the market is expanding to include
side-by-side vehicles, catering to those seeking more passenger
capacity and cargo space. Overall, the ATV market is thriving, with
innovations and advancements driving consumer interest.
Research report provides comprehensive data on
impact of trend. For more details- Download a Sample
Report
Market Challenges
- The ATV market faces challenges due to the vehicles'
environmental impact. Soil erosion and increased bulk density,
strength, and impermeability from ATV use harm vegetation growth
and root systems. Wildlife populations are also affected, leading
to increased mortality rates. These environmental concerns may
hinder market expansion during the forecast period.
- The All-Terrain Vehicle (ATV) market faces several challenges.
The use of ATVs in various industries such as agriculture,
forestry, and mining requires ground handling capabilities.
However, the uneven and challenging terrain poses a significant
obstacle. Additionally, the increasing demand for electric ATVs
adds to the complexity. The need for longer battery life and faster
charging times is a major concern. Furthermore, the cost of
manufacturing and maintaining these vehicles is a significant
challenge. Regulations and safety concerns also impact the market,
requiring continuous innovation and compliance. Overall, the ATV
market requires continuous advancements to meet the demands of
diverse industries and consumers.
For more insights on driver and
challenges - Request a sample report!
Segment Overview
This all-terrain vehicle (atv) market report extensively covers
market segmentation by
- Engine Capacity
- 1.1 400cc-800cc
- 1.2 Below 400cc
- 1.3 Above 800cc
- Application
- 2.1 Recreational
- 2.2 Sports
- 2.3 Agriculture
- 2.4 Military and defense
- Geography
- 3.1 North America
- 3.2 Europe
- 3.3 APAC
- 3.4 Middle East and
Africa
- 3.5 South America
1.1 400cc-800cc- The 400cc-800cc segment of the
All-Terrain Vehicle (ATV) market caters to heavier and more
powerful vehicles. These ATVs are popular among military forces,
including the army, marines, and special operations command, due to
their ability to handle rough terrains and transport equipment.
Military collaboration with manufacturers has led to the
development of adaptable and responsive designs for these ATVs.
Sport ATVs focus on speed, while utility ATVs prioritize
practicality and versatility. The growing demand for these vehicles
in military applications and adventure sports will fuel market
growth during the forecast period.
For more information on market segmentation with geographical
analysis including forecast (2024-2028) and historic data
(2017-2021) - Download a Sample Report
Research Analysis
The All-Terrain Vehicle (ATV) market encompasses a diverse range
of manufacturing facilities, producing technologically advanced
models catering to various sectors. These sectors include
powersports for outdoor sports activities and recreational events,
agriculture for farming and forestry applications, military &
defense, and construction. The market offers utility vehicles and
light utility vehicles, some featuring innovative AutoTrac-assisted
steering systems. With the increasing focus on reducing greenhouse
emissions and energy consumption, there is a growing trend towards
Electric ATVs. Consumers with disposable income and purchasing
capacity continue to drive the demand for these versatile
recreational vehicles, used not only for sports but also for
agricultural and military applications.
Market Research Overview
The All-Terrain Vehicle (ATV) market encompasses the design,
production, and distribution of off-road vehicles capable of
handling various terrains. These vehicles are popular for
recreational activities, agriculture, and industrial applications.
The market is driven by factors such as increasing demand for
efficient and versatile off-road transportation, technological
advancements, and government regulations. ATVs come in various
sizes, styles, and capabilities, catering to diverse customer
needs. The market is segmented based on type, application, and
geography. Manufacturers focus on innovation, safety, and
performance to meet evolving customer expectations. The global ATV
market is expected to grow steadily due to these factors.
Table of Contents:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation
- Engine Capacity
-
- 400cc-800cc
- Below 400cc
- Above 800cc
- Application
-
- Recreational
- Sports
- Agriculture
- Military And Defense
- Geography
-
- North America
- Europe
- APAC
- Middle East And Africa
- South America
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix
About Technavio
Technavio is a leading global technology research and advisory
company. Their research and analysis focuses on emerging market
trends and provides actionable insights to help businesses identify
market opportunities and develop effective strategies to optimize
their market positions.
With over 500 specialized analysts, Technavio's report library
consists of more than 17,000 reports and counting, covering 800
technologies, spanning across 50 countries. Their client base
consists of enterprises of all sizes, including more than 100
Fortune 500 companies. This growing client base relies on
Technavio's comprehensive coverage, extensive research, and
actionable market insights to identify opportunities in existing
and potential markets and assess their competitive positions within
changing market scenarios.
Contacts
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/
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SOURCE Technavio