Market Research Report
Global All-terrain Vehicle Market Size study, by Engine Type (Below 400cc, 400cc-800cc, Above 800cc), by Application (Agriculture, Sports, Recreational and Military and Defense), and Regional Forecasts 2021-2027
|Global All-terrain Vehicle Market Size study, by Engine Type (Below 400cc, 400cc-800cc, Above 800cc), by Application (Agriculture, Sports, Recreational and Military and Defense), and Regional Forecasts 2021-2027|
Published: July 11, 2021
Bizwit Research & Consulting LLP
Delivery time: 2-3 business days
Global All-terrain Vehicle Market is valued approximately at USD 3.92 Billion in 2020 and is anticipated to grow with a healthy growth rate of more than 2.5% over the forecast period 2021-2027. All-terrain vehicles are popular for their unique maneuverability and off-road capabilities that are used on the difficult terrains, where normal vehicles find difficulty in driving such as mountain roads. The global All-terrain Vehicle market is being driven by increased military expenditure by the respective countries as these vehicles are extensively operated by the defense forces in various operations. For instance, according to Statista, the global military spending has increased from USD 1855 Billion in 2018 to USD 1922 Billion in 2019. The other driving factor for the market is the expanding automobile industry. For instance, according to the International Trade Administration (ITA), China is the world's largest automotive market, with the Chinese government expecting 35 million vehicles to be produced by 2025. Furthermore, the growing defense operations including cross border conflicts, increasing agricultural mechanization, growing forest surveying and providing access to remote regions for development will provide new opportunities for the global All-terrain vehicle industry. However, irregular safety regulations and environment loss due to high carbon emissions may impede market growth over the forecast period of 2021-2027.
The major regions such as Asia Pacific, North America, Europe, Latin America, and Rest of the World are considered for the regional analysis of global All-terrain Vehicle Market. North America is the leading region across the world in terms of market share due to large off road regions which promote tourism, developed automobile industry have stimulated Engine demand in the region. Whereas Europe is anticipated to exhibit the highest CAGR over the forecast period 2021-2027, due to the advanced economy and development of standardized safety requirements and test methods, in the region.
Major market player included in this report are:
American Honda Motor Co., Inc.
Bombardier Recreational Products (BRP)
Yamaha Motor Corporation
Arctic Cat Inc.
Kawasaki Heavy Industries Ltd.
Suzuki Motor Corporation
Deere & Company
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and Engine offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Engine Type:
Military and Defense
Rest of the World
Furthermore, years considered for the study are as follows:
Historical year - 2018, 2019
Base year - 2020
Forecast period - 2021 to 2027.
Target Audience of the Global All-terrain Vehicle Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Value-Added Resellers (VARs)
Third-party knowledge providers
a. Market Snapshot
List of figures