All-Terrain Vehicle (ATV) market
All-Terrain Vehicle (ATV) market size is valued at US$ 8.0 Bn in 2017 and expected to grow at a CAGR of 5% in the forecasting period. Growing penetration of recreational activities and sports across the globe will drive the all-terrain vehicle market size over the forecast timeframe. Advancements in infotainment system offer superior entertainment and user-friendly experience with GPS tracking, Bluetooth connectivity and mobile tracking facilities, thereby, enhancing driving experience and boosting all-terrain vehicle market. Rising technical development in quad bikes with upgraded performance and efficiency will boost all-terrain vehicle market size from 2017 to 2026. Large array of technologies along with independent suspensions, electric start and shaft drives offers enthusiasts with great riding exposure.
Innovative infotainment systems keep the drivers informed, up-to-date, connected and entertained. Moreover, reduction in component manufacturing cost will minimize the overall product price and, thereby improving product sales of all-terrain vehicle.
All-Terrain Vehicle (ATV) market
The all-terrain vehicle market is segmented based on product, application and geography. By product segment, the market is segmented into sport ATV, sport utility ATV, utility ATV, and youth ATV. By applications, the market is segmented as sports, entertainment, agriculture, military & defense, and forestry. Sports application is the major segment where the All-Terrain Vehicle is highly demanded and thus, it is expected to hold major market share in the forecast period owing to shifting consumer preference for recreational and adventurous sports backed by rising disposable income.
Key manufacturers including Polaris and Honda offer a wide variety of sport segment that showcase light weight vehicle with required suspension to handle turns, jumps and bumps. These products are designed for different sports including recreation, hunting and racing. Large scope of customization to cater increasing consumer demand provides enhanced all-terrain vehicle market growth opportunities.
Geographically, the all-terrain vehicle market has been segmented into North America, Europe, Asia Pacific, Middle East & Africa and Latin America. North America held the highest market share in 2017 and is expected have higher growth rate in the forecast period owing to shifting trend toward extensive usage in several areas including agricultural lands, forestry and mountains. Rising adoption of off-road and recreational activities will positively impact the industry expansion of all-terrain vehicle. Numerous snowmobile associations and clubs across the region conduct sports events yearly, leading to increased sales of these quad bikes and thereby propelling industry size during the forecast timeframe.
Key player across the All-Terrain Vehicle industry are Arctic Cat, Bombardier Recreational Products, CECTEK, CFmoto, Honda Motors, Kawasaki Motors Corporation, HiSun Motors, John Deere and KYMCO. Global ATV market share is highly competitive due to presence of well established companies. Rising competition between new entrants and existing companies is projected to stimulate new product development during the forecast timespan. Manufacturers are expected to adopt several strategic approaches including collaborations, mergers & acquisitions and improved supply agreements to expand their customer base. All-Terrain Vehicle (ATV) market Scope
All-Terrain Vehicle Market, By Product
• Sport ATV • Sport Utility ATV • Utility ATV • Youth ATV All-Terrain Vehicle Market, By Application
• Sports • Entertainment • Agriculture • Military & Defense • Forestry All-Terrain Vehicle Market, By Geography
• North America • Europe • Asia-Pacific • Middle East & Africa • Latin America Key Players operating in the All-Terrain Vehicle (ATV) market :
• Arctic Cat • Bombardier Recreational Products • CECTEK • CFmoto • Honda Motors • Kawasaki Motors Corporation • HiSun Motors • John Deere • KYMCO Maximize Market Research, a global market research firm with dedicated team of specialists and data has carried out extensive research about the current vehicle tracking market outlook. Report encompasses the vehicle tracking market by different segments and region, providing the in-depth analysis of overall industry ecosystem, useful for taking informed strategic decision by the key stakeholders in the industry. Importantly, the report delivers forecasts and share of the market, further giving an insight into the market dynamics, and future opportunities that might exist in the vehicle tracking market. The driving forces, as well as considerable restraints, have been explained in depth. In addition to this, competitive landscape describing about the strategic growth of the competitors have been taken into consideration for enhancing market know-how of our clients and at the same time explain vehicle tracking market positioning of competitors.
About the Author
Maximize Market Research, a global market research firm with dedicated team of specialists and data has carried out extensive research about the current vehicle tracking market outlook. Report encompasses the vehicle tracking market by different segments and region, providing the in-depth analysis of overall industry ecosystem, useful for taking informed strategic decision by the key stakeholders in the industry. Importantly, the report delivers forecasts and share of the market, further giving an insight into the market dynamics, and future opportunities that might exist in the vehicle tracking market. The driving forces, as well as considerable restraints, have been explained in depth. In addition to this, competitive landscape describing about the strategic growth of the competitors have been taken into consideration for enhancing market know-how of our clients and at the same time explain vehicle tracking market positioning of competitors.
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