All Terrain Vehicle Market: Application (Sports, Entertainment, Agriculture, Military & Defense, Hunting & Forestry), Type (Utility ATV, Sport ATV), Seating capacity (One seat, Two seats), Fuel Type (Gasoline, Electric ATV) – Global Industry Sizing, Growth, Trend, Opportunity, and Forecast (2020–2025)
The all terrain vehicle market report covers a thorough analysis of the market dynamics, business models, segmental/regional analysis, and respective market shares and strategies adopted by the key market players operating in the global market. It entails an in-depth analysis of the factors influencing the global market and market statistics indicating region wise and segment-wise market share/growth analysis. The report’s study will outlook one of the most exhaustive analyses of the market, capturing all the aspects of the all terrain vehicle market.
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All Terrain Vehicle Industry Introduction
All Terrain Vehicle (ATV), also known as a heavy-duty quadricycle as per the American National Standards Institute (ANSI). All terrain vehicle is an off-road vehicle that has strength over a wide range of terrains. All terrain vehicles can be ridden over different landscapes full of dirt, sand, mud, gravel, and rocks. It was historically designed for a single passenger, but ATVs are nowadays designed for multi-passenger along with the operator. It is driven like a motorcycle except with more stability and mobility over rough and unstable terrains, and it has four wheels. However, All-Terrain Vehicle is not legal to ride on the street or highways in major countries worldwide.
All Terrain Vehicle: Market Dynamics
Many factors are responsible for the global demand for the all terrain vehicle market, including increased off-road leisure activities and events, theme parks, and snow parks. Additionally, growing tourism in the developing economies across the globe is one of the key factors for the growth of the all-terrain vehicle market. Besides the growing utilization of all-terrain vehicles in leisure activities, these vehicles also get traction in sports, military, mining, and agricultural activities. Electric all terrain vehicles are expected to develop new opportunities in the market. Further, active government support and incentives for developing off-road trails would increase all-terrain vehicles’ popularity in the coming years.
A rising number of fatalities, injuries, and accidents caused by ATVs are the key factors that are expected to impede the growth of the all terrain vehicle market. Furthermore, stringent emission norms on diesel and petrol vehicles may hamper the IC engine-based all-terrain vehicle market. Also, environmental issues such as greenhouse emissions is a significant constraint for the growth of traditional all-Terrain vehicles. COVID-19 impact on the ATV is estimated to have a significant effect on the vehicle supply chain and demand market. Besides, shifts in consumer purchasing behavior due to uncertainties surrounding the pandemic may have major implications for the industry near future production.
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Scope of the Report
The report outlines the study of the all terrain vehicle market based on product type, application, seating capacity, and fuel type.
Based on product type, the all terrain vehicle market is segmented into-
- Utility ATV
- Sport ATV
Based on application, the all terrain vehicle market is segmented into-
- Military & Defense
- Hunting & Forestry
Based on seating capacity, the all terrain vehicle market is segmented into-
- One seat
- Two seats
Based on fuel type, the all terrain vehicle market is segmented into-
- Electric ATV
All-Terrain Vehicle Market by Product Type, 2018-2025 (USD Million)
Source: MSG Analysis, 2020
All-Terrain Vehicle Market: Regional Lookout
Based on region, the global all terrain vehicle market is segmented into Europe, North America, South America, Asia Pacific and the Middle East and Africa. North America is estimated to dominate the global all-terrain vehicle market, followed by Europe and the Asia Pacific. Increasing demand for all-terrain vehicles in the defense and recreation activities across the region is a key factor for the North America all-terrain vehicle market growth. Moreover, electric all-terrain vehicles became a popular substitute for gasoline and diesel ATVs in North America.
All-Terrain Vehicle Market Growth by Region, 2020-2025
Source: MSG Analysis, 2020
Europe also holds a significant share in the all-terrain vehicle due to the increase in outdoor leisure activities such as camping and forest adventures and an increase in the tourism industry. The Asia Pacific is the fastest growing all-terrain vehicle market during the forecast period due to the increase in the number of off-road parks and trails that have become tourist hubs. This factor is projected to boost the growth of the all-terrain vehicle market. Further, Major companies across the region endorse and coordinate off-road racing and adventure sports to increase their all-terrain vehicles’ sales.
All-Terrain Vehicle Market: Competitive Landscape
Key players in all terrain vehicle market include Honda Motor Company Limited, Polaris Industries Incorporation, Yamaha Motor Company Limited, Bombardier Recreational Products, and Arctic Cat Incorporation (Textron). The other significant players are Kawasaki Heavy Industries Limited, Suzuki Motor Corporation, CFMOTO Powersports Incorporation, KTM AG and BMW AG, Linhai, Deere, and company. Many companies have adopted new product developments and mergers to gain a competitive edge in the ATV market.
- The US-based manufacturer, Polaris Industries, is expected to produce motorcycle and terrain vehicles in India in 2018. The firm had been supplying these vehicles for the domestic market from the US before this.
- In 2019, Polaris, in association with Yansh Adventure Motorsports, unveiled its 91st off-road adventure track called Polaris Experience Zone (PEZ) in Gurgaon, India.
- In 2019, Yamaha Motor Corp announced their 2020 All-Terrain Vehicle “proven off-road recreational, utility, and sports.” Both models of ATVs come with different paint choices and accessories.
The all terrain vehicle market report provides a thorough analysis of macro-economic factors and the market attractiveness of every segment. The report will include an in-depth qualitative and quantitative assessment of segmental/regional outlook with the market players’ presence in the respective segment and region/country. The information concluded in the report includes the inputs from industry participants and industry experts across the value chain.
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The all terrain vehicle market report covers comprehensive analysis on:
- Market Dynamics
- Market Segmentation
- Regional Analysis
- Market Size in Value
- Pricing Analysis
- Trade Analysis
- Market Factor Analysis
- Market Trends
- Regulatory Landscape
- Competition Landscape
- Company Profiles
Regional Market Analysis:
- North America (US, Canada, Mexico)
- South America (Brazil, Argentina, Colombia, Peru, Rest of Latin America)
- Europe (Germany, Italy, France, UK, Spain, Poland, Russia, Slovenia, Slovakia, Hungary, Czech Republic, Belgium, the Netherlands, Norway, Sweden, Denmark, Rest of Europe)
- Asia Pacific (China, Japan, India, South Korea, Indonesia, Malaysia, Thailand, Vietnam, Myanmar, Cambodia, the Philippines, Singapore, Australia & New Zealand, Rest of Asia Pacific)
- The Middle East & Africa (Saudi Arabia, UAE, South Africa, Northern Africa, Rest of MEA)
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All Terrain Vehicle: Target Audience
- All-terrain vehicle manufacturers
- Automobile/Car/Vehicle manufacturers
- Trade publications and magazines
- Government authorities, associations, and organization