All-terrain Vehicle Market By Application (Sports, Entertainment, Agriculture, Military & Defense, Others), Type (Utility ATV, Sport ATV), Drive Type (2WD, 4WD, AWD), Seating capacity (One seat, Two seats), Number of wheels( Four wheel, > Four wheel), Fuel Type (Gasoline, Electric ATV), Engine Type ( <400 CC, 400 to 800 CC, >800 CC), Geography (North America, South America, Europe, Asia-Pacific, Middle East and Africa)
All-terrain Vehicle Market is expected to reach USD 6.17 billion by 2029 in the forecasted period of 2020-2029 with a substantial CAGR 4.69%. The increasing demand for ATVs in military, agriculture, and sports applications are one of the key drivers for all-terrain vehicle market in the forecasted period.
In-depth popularity of outdoor activities such as off-road sports, the growing number of tracks and adventure parks and the high demand for all field vehicles are key elements driving the growth of the industry. Improved purchasing power and disposable sales are expected to drive demand for all-terrain vehicles market over the forecast period in both developing and emerging economies.
All-terrain vehicle (ATV) is a vehicle fitted with four low-pressure tires and handle bars. These cars can be used for military, surveying, forestry, agriculture, sports and others because of their maneuverability and road-friendliness. ATVs are treated very direly and need a little preparation before they can be comfortably run. These are normally used on roads, but few regions allow public roads to utilize this vehicle too. Over the last couple of years, these have become more common as they give access to the remote regions, and provide a convenient way to carry supplies and equipment. The ATVs shall also be used in the ground units of the military, navy and army.
All-terrain Vehicle Market Scope and Market Size
All-terrain Vehicle Market has been segmented on the basis of application, type, drive type, seating capacity, number of wheels, fuel type, and engine type.
- On the basis of application, the All-terrain Vehicle Market is segmented into sports, entertainment, agriculture, military & defense, others.
- Based on type, All-terrain Vehicle Market is segmented into utility ATV, sport ATV.
- On the basis of drive type, All-terrain Vehicle Market is segmented into 2WD, 4WD, AWD. In the drive type segment AWD sub-segment hold the largest market segment in the All-terrain Vehicle Market in the forecasted period. On AWD ATVs, the power of the engine is split between all ATV wheels. For the active health of passengers, AWD ATVs give double the strength. AWDs come to the fore in a difficult situation where the floor becomes slick and instant adhesive traction is required to step secure into a merging field. All wheels are engaged and provide the necessary traction levels to safely negotiate the path or terrain. In the near future, increasing ATV demand and increased focus on safety features would boost the AWD ATV industry.
- On the basis of seating capacity, the All-terrain Vehicle Market is segmented into one seat, two seats. In the seating capacity segment two seats sub-segment hold the largest market segment in the all-terrain vehicle market in the forecasted period. In the tourist industry, two seat ATVs are gradually taking over the share of one seat ATVs, as the market for two seats is growing. In North America, the market for2-seater ATVs is expected to grow rapidly due to increasing demands in the farming and military industries, according to industry insights. Hence, 2 seat ATVs is estimated to be the fastest growing market during the forecast period.
- Based on number of wheels, All-terrain Vehicle Market is segmented into four wheel, > four wheel.
- On the basis of fuel type, the All-terrain Vehicle Market is segmented into gasoline, electric ATV. In the fuel type segment gasoline sub-segment hold the largest market segment in the all-terrain vehicle market in the forecasted period. This attracts a lot of business investment vendors and distributors. In the years ahead, gasoline will dominate the market with increasing demand for fuel ATVs for sports and military applications. In addition, electric vehicles generate less power in comparison to gasoline and are less accepted globally.
- Based on engine type, All-terrain Vehicle Market is segmented into <400 CC, 400 to 800 CC, >800 CC.
Country Level Analysis of All-terrain Vehicle Market
- On the basis of region, the All-terrain Vehicle Market is segmented into North America and South America, Asia Pacific, Europe and Middle East and Africa.
- Countries covered under North and South America region are Canada, Mexico, Brazil, Rest of Americas, along with Germany, France, United Kingdom, Italy, Spain, Rest of Europe covered under Europe region and Japan, China, India, Australia, Rest of Asia-Pacific covered under Asia-Pacific region.
- North America is expected to hold the largest all-terrain vehicle market share during the forecast period. The demand in the region for all-terrain vehicles was triggered by factors such as a high demand for ATVs, future projects on electric vehicles, highly disposable personal revenues and the scope for new and advanced technologies, the developing economy and government regulations on the design of ATVs. The US accounts for the largest market share, while demand is high for applications like defense, livestock, recreation, leisure, fishing, forestry, mining and building. The US is expected to remain the region's largest market as demand for ATVs continues to increase.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as new sales, replacement sales, country demographics, disease epidemiology and import-export tariffs are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands impact of sales channels are considered while provided forecast analysis of the country data.
Key Developments in the Market:
- In February 2020, Tadano has launched three Rough Terrain Cranes for the North American market. The launch of the raw field cranes will include a full increase in the lifting class 75 to 100 tons (US tons), which was introduced before 2011. Tadano's position in the rugged field market will continue to be strengthened by GR-1000XLL-4, GR-1000XL-4 and GR-800XL-4. Such new models have been designed to enhance safety and comfort, productivity and workspace while a motor follows the current emission standards.
- In December 2019, CFMoto in the Eicma motor show in Milan, Italy presented the hybrid ATV prototype to the public with a glimpse of the future of all-terrain vehicles. The company said that the quad concept was developed to meet the changing customer culture and that the energy sporting sector needs to evolve to meet new demands in the world.
Competitive Analysis and All-terrain Vehicle Market Share Analysis:
All-terrain Vehicle Market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of All-terrain Vehicle Market for Global, Europe, North America, Asia-Pacific, South America and Middle East & Africa.
All-terrain Vehicle Market competitive landscape provides details by competitors. Details included are company overview which includes Company focus, business segment, product categories, revenue generated, and global presence. All-terrain Vehicle Market report also provides information on recent financials and R&D expenditures over the years from 2020 to 2029.
Key Market Competitors:
Few of the major competitors currently working in the All-terrain Vehicle Market are Baltmotors, Bennche,LLC, BRP, CECTEK, CFMOTO US, HISUN, American Honda Motor Co., Inc., Deere & Company, Kawasaki Motors Corp., U.S.A., KTM Sportmotorcycle GmbH, KYMCO, Linhai USA, Nebulaauto, Polaris Inc., Suzuki Motor of America, Inc., Taiwan Golden Bee, Textron Inc., Velomotors Group of Companies, Yamaha Motor Corporation, USA and many others.
Key Insights in the report:
- Complete and distinct analysis of the market drivers and restraints
- Key market players involved in this industry
- Detailed analysis of the market segmentation
- Competitive analysis of the key players involved