Market Research Report
All-terrain Vehicle Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027
|All-terrain Vehicle Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027|
Published: June 13, 2022
IMARC Services Private Limited
Content info: 147 Pages
Delivery time: 2-3 business days
The global all-terrain vehicle market reached a value of US$ 4.1 Billion in 2021 and it is to reach US$ 5.0 Billion by 2027, exhibiting a CAGR of 3.47% during 2022-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic. These insights are included in the report as a major market contributor.
An all-terrain vehicle (ATV) refers to a motorized single-seated tri or quadricycle bike and buggy that is designed for off-road travel and activities. The vehicle consists of handlebars and low-pressure tires that have deep-threaded structures, which assist in driving over muddy, rocky, wetlands and dune topologies. In comparison to other utility vehicles (UTVs), ATVs offer excellent off-road capabilities and can carry heavy equipment over long distances and narrow access points. They can also be customized for high-performance riding, owing to which they find extensive applications across various industries, including sports, entertainment, agriculture, military and defence.
Increasing consumer preference for off-road recreational activities and adventure sports is one of the key factors driving the growth of the market. With the advancements in automotive infotainment systems, vendors are offering ATVs with GPS tracking and Bluetooth connectivity systems, thereby enhancing the overall driving experience. Furthermore, widespread product adoption by the agriculture industry is also providing a boost to the market growth. ATVs are widely utilized for conducting farm-related activities, such as field ploughing, weed control, animal handling and transportation of materials. Additionally, various technological advancements, including the development of electric quad bikes and the installation of improved steering systems, hydraulic pump connections, joystick controls and graphic displays in ATVs, are also contributing to the market growth. Other factors creating a positive impact on the market include a significant increase in the tourism industry, rapid urbanization and rising expenditure capacities of the consumers.
IMARC Group provides an analysis of the key trends in each sub-segment of the global all-terrain vehicle market, along with forecasts at the global, regional and country level from 2022-2027. Our report has categorized the market based on type, application, engine type, no. of wheels, drive type, fuel type and seating capacity.
The competitive landscape of the industry has also been examined with some of the key players being Polaris Industries Inc. ,Honda Motor Co. Ltd. ,Kawasaki Heavy Industries ,Yamaha Motor Corporation ,Suzuki Motor Corporation , KYMCO , Deere & Company (John Deere) ,Arctic Cat Inc. ,Bombardier Recreational Products (BRP) , CFMOTO , CECTEK ,HiSun Motors , Linhai and Taiwan Golden Bee.