Selbyville, Delaware, July 12, 2021 (GLOBE NEWSWIRE) --
Global Market Insights Inc. has recently added a new report on the all-terrain vehicles market which estimates the market valuation for ATV will cross US$ 5 billion by 2027. Rising popularity of outdoor recreational and sports activities along with growing disposable income is likely to fuel the industry growth. The market is also witnessing technological advancements for the development of electric ATVs due to rising environmental concerns.
The COVID-19 pandemic negatively impacted the industry growth owing to strict lockdown measures in several countries during the first half of 2020. However, the market players witnessed a high growth in unit shipments after June 2020. The growth can be accredited to the growing interest in outdoor recreational activities that do not require engagement with large crowds. The reopening of key markets in North America and Europe supported the ATV industry stabilization in 2020.
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Increasing budgetary allocation by governments across the globe for construction of multiple trails is supporting the adoption of ATVs in the recreation segment. Government organizations are also funding for the upgrade of old trials to include ATVs. For instance, in 2017, Natural Resource Board in the U.S. announced the upgrade of Northern Highland American Legion State Forest to construct trails for conducting off-roading events.
The ATV market in Asia Pacific is expected to grow at a significant rate owing to rising spending capacity on outdoor sports activities. The proliferating demand for sports activities from Japan, China, and India will augment the regional growth. Industry participants are emphasizing on setting up their manufacturing plants and launching new ATV models in these countries. For instance, in January 2021, Suzuki Motorcycle launched two new ATVs, Suzuki Ozark 250 ATV and Suzuki Quadsport Z400 ATV for recreational purpose. The Ozark 250 ATV is equipped with 246cc engine, one air cooled cylinder and rear suspension unit.
The players active in the ATV market include Bombardier Recreational Products (BRP), Suzuki Motors Corporation, HiSun Motors, Polaris Industries Inc., Honda Motor Co, Kawasaki Motors Corporation, Yamaha Motor Co. Ltd., Arctic Cat, and Can-Am. The companies are introducing new ATV models with enhanced features to grow their market share. For instance, in March 2021, Honda Motor Co, launched its smallest ATV, the FourTraxRecon for multipurpose application along with the TRX250X sports model. These lightweight models are designed to provide higher maneuverability, light and easy transport, ample power, and torque.
Some major findings in the all-terrain vehicle (ATV) market report include:
- Rising disposable income in Europe, Asia Pacific, and Middle East countries will drive the demand for ATVs during the forecast period. The demand is also supported by growing inclination toward off-roading races and championships.
- Proliferation of travel and tourism industries will augment the demand for sports and recreational ATVs and create new growth opportunities for the ATV industry.
- Manufacturers are increasingly incorporating ATVs with features, such as high-end stereos, HVAC systems, GPS displays, LED taillights, anti-lock braking system, and plush seating, to smoothen the ride over rough terrains.
- Rising investment activities by industry players to improve vehicle performance including sharp handling, improved maneuverability, and higher output to enhance riders’ experience will fuel the industry growth.
- The growing popularity of electric ATVs to combat environmental pollution caused by conventional ATVs will provide new market opportunities for incumbent players and new entrants.
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Partial chapters of report table of contents (TOC):
Chapter 2. Executive Summary
2.1. All-terrain vehicles industry 3600 synopsis, 2013 – 2025
2.1.1. Business trends
2.1.2. Product trends
2.1.3. Displacement trends
2.1.4. Application trends
2.1.5. Regional trends
Chapter 3. All-Terrain Vehicles Industry Insights
3.1. Industry segmentation
3.2. Industry landscape, 2013 – 2025
3.3. Industry ecosystem analysis
3.3.1. Suppliers
3.3.2. Manufacturers
3.3.3. Profit margin trends
3.3.4. Distribution channel analysis
3.3.5. Vendor matrix
3.4. Technology landscape
3.5. Pricing trends
3.5.1. By region
3.5.1.1. North America
3.5.1.2. Europe
3.5.1.3. Asia Pacific
3.5.1.4. Latin America
3.5.1.5. Middle East & Africa
3.5.2. Cost structure analysis
3.6. Regulatory landscape
3.6.1. North America
3.6.2. Europe
3.6.3. Asia Pacific
3.6.4. Latin America
3.6.5. Middle East & Africa
3.7. Industry impact forces
3.7.1. Growth drivers
3.7.1.1. North America
3.7.1.2. Europe
3.7.1.3. Asia Pacific
3.7.1.4. Latin America
3.7.1.5. Middle East & Africa
3.7.2. Industry pitfalls & challenges
3.8. Innovation and sustainability
3.9. Growth potential analysis, 2018
3.10. Porter’s analysis
3.11. Company market share analysis, 2018
3.11.1. Top players analysis, 2018
3.11.2. Strategy dashboard
3.12. PESTEL analysis
Chapter 4. All-Terrain Vehicles Market, By Product
4.1. Global all-terrain vehicles market share by product, 2018 & 2025
4.2. Youth
4.2.1. Global market estimates and forecasts, 2013 – 2025
4.2.2. Market estimates and forecast, by region, 2013 – 2025
4.3. Adult
4.3.1. Global market estimates and forecasts, 2013 – 2025
4.3.2. Market estimates and forecast, by region, 2013 – 2025
About Global Market Insights
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.