Market Research Report
Asia-pacific Atv and Utv Market Forecast 2022-2030
|Asia-pacific Atv and Utv Market Forecast 2022-2030|
Published: December 20, 2021
Content info: 141 Pages
Delivery time: 2-3 business days
The Asia-Pacific ATV and UTV market is predicted to register a CAGR of 6.75% during the forecast period, 2022-2030. The implementation of circuits for riding UTVs and ATVs and rising expenditure on recreational activities offer lucrative growth opportunities.
Indonesia, Japan, China, Australia & New Zealand, South Korea, Vietnam, Thailand, India, and Rest of Asia-Pacific, are analyzed for the Asia-Pacific ATV and UTV market growth assessment. In Japan, the presence of eminent ATV and UTV manufacturers like Suzuki, Kawasaki, and Honda, drives the market growth. Also, they are launching a new line of off-road vehicles to compete in the ATV and UTV market. UTVs and ATVs are used in the hilly and inaccessible areas of the country. They are also used as farm-to-town or domestic vehicles.
Given the growing trend of adventure sports, UTV and ATV circuits are launched to promote off-road vehicles in India. Several companies are inclined to set up their ATV manufacturing facilities. In Vietnam, the growing number of sports and recreational parks for ATV riding contributes to market growth. Thailand is an ideal market for ATVs & UTVs with golden beaches and bustling beach nightlife. In Indonesia, jungle trails are at times inaccessible by car. ATV adventure is one of the booming activities on the island of Bali. Such factors are expected to boost the market growth.
Some of the main market players include: CFMoto, Deere & Company, Kawasaki Heavy Industries Ltd, Honda Motor Co Ltd, etc.