Market Research Report
All-Terrain Vehicle - Global Market Outlook (2019-2027)
|Published by||Stratistics Market Research Consulting||Product code||946988|
|Published||Content info||176 Pages
Delivery time: 2-3 business days
|All-Terrain Vehicle - Global Market Outlook (2019-2027)|
|Published: July 1, 2020||Content info: 176 Pages||
According to Stratistics MRC, the Global All-Terrain Vehicle market is accounted for $3.95 billion in 2019 and is expected to reach $5.29 billion by 2027 growing at a CAGR of 3.7% during the forecast period. Some of the key factors propelling the market growth are growing demand for ATVS in agriculture, rising buying power and expenditure capacity of individuals. However, high accident rates are the restraining factor for the growth of the market.
All-terrain vehicles also known as quad bikes, are vehicles with big and robust tires with short tire pressure, a wide seat that helps the driver to be seated in a easy position and are is fitted with a broad length handlebar permit easy control and maneuverability to the driver. This automobile is designed to be ridden preferably as a single seater or with a pillion rider. The vehicle is designed to handle a large variety of terrains compared to other automobiles, which is not legal to be ridden on the streets of majority of countries, and thus, necessitate special permission for driving on the streets. All-terrain vehicles are generally designed to be ridden by a single operator, though some manufacturers design these vehicles to be ridden by the operator as well as the pillion riding passenger.
By type, sport ATV segment is expected to grow at the significant market share during the forecast period due to prepared with stiffer suspensions, lesser center of gravity, and are lighter weight as compared to utility ATVs. Sports ATVs are offers with superior and more proficient engines, providing them the capability to attain and maintain lofty speeds for extended periods of time. This makes the sports ATVs suitable for sporty recreational and racing applications. On the basis of geography, North America is anticipated to hold considerable market share during the forecast period due to factors such as developed economy, superior disposable income of the residents, approaching electric vehicle projects, and government rules regarding ATVs. The region has numerous off-road terrain parks and trails such as River Valley Motocross, Rocky Ridge Ranch, and Northwest Off-Highway Vehicle Park.
Some of the key players in All-Terrain Vehicle Market include Baltmotors, Bennche, BRP, Cfmoto, Ecocharger, Hisun, Honda, John Deere, Kawasaki, KTM, Linhai, Polaris, Suzuki, Textron, Velomotors and Yamaha.
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Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Note: Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.