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All-Terrain Vehicles Market 2018-2023 Ongoing Trend | Growing at Remarkable CAGR of 8% with Polaris Industries, Bombardier Recreational Products, Honda, Yamaha Motor Corporation, Arctic Cat, Kawasaki Motors Corp

08-06-2018 03:10 PM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Market Prognosis

All-Terrain Vehicles Market

The Global All - Terrain Vehicle market is expected to register a CAGR of ~8% during the forecast period. Some of the major factors driving the market for all-terrain vehicles are, an increase in their usage in different sectors such as agriculture, forest, military, recreational activities, and sports. However, factors, such as terrain damage, environmental impacts on soil and vegetation, increase in accident rate, strict safety regulations, and rules to prohibit their use in public areas may hinder the growth of the market.

North America is the market leader, with the United States and Canada being the major markets and is expected to continue over the forecast period. Asia Pacific is a relatively small market but is expected to grow at a faster pace during the forecast period owing to growing demand in the military, rise in recreation activities spending, especially in the emerging economies, like China and India. Europe, Middle East, and Latin America are also attractive markets for the all-terrain vehicles and are expected to witness a healthy growth over the forecast period.

Polaris Industries is leading the market with more than 35% of market share in the global all-terrain vehicle market.

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Key Developments in the All-Terrain Vehicles Market:

May 2018: Suzuki released 2019 KingQuad 750 and KingQuad 500 models of ATVs
April 2018: Polaris introduced 2019 RANGER CREW XP 1000, a six-passenger utility side-by-side vehicle
March 2018: BRP launched a Track kit for Can - Am Maverick Trail for driving in snow

Key Industry Players in the All-Terrain Vehicles Market:

Polaris Industries, Bombardier Recreational Products (Can - Am), Honda, Yamaha Motor Corporation, Arctic Cat Inc., Kawasaki Motors Corp., Suzuki Motor Corporation, Deere & Company (John Deere).

Reasons to Purchase this Report:

To study current and future all-terrain vehicle market outlook in the developed and emerging markets
Analyzing various perspectives of the market with the help of Porter’s five forces analysis
Detailed analysis of the segment that is expected to dominate the all-terrain vehicle market
Regions that are expected to witness the fastest growth during the forecast period
Identify the latest developments, market shares, and strategies employed by the major all-terrain vehicle market players
3-month analyst support, along with the Market Estimate sheet in excel

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SHIFTING FOCUS TOWARDS SIDE-BY-SIDE (UTV)

The Side-by-Side vehicles are expected to witness a healthy growth during the forecast period as the users are shifting to these owing to the advantages they offer, such as better riding experience, rollover protection bars, and seat belts. For instance, the sales of Polaris SxS vehicles in Australia witnessed an increase of 28% in 2017 when compared to 2016.

GROWING CONCERNS OVER SAFETY

Safety has always been an issue while driving an ATV. According to the Consumer Product Safety Commission (CPSC), US there are about 650 deaths and 100,000 injuries involving ATVs. Moreover, the governments are conducting awareness programs and changing the existing rules to reduce the count. The ATV Safety Institute in the US conducts ATV safety week every year and delivers free training for people above age 6 regarding safety while riding an ATV.

Additionally, Roll Over Protection Structure (ROPS) and Crush Protection Devices (CPDs) are installed in ATVs. Moreover, the governments are making the use of helmets and other protective wear, such as eye protection, boots & gloves, long pants, and long-sleeved shirts compulsory; and are setting various rules with respect to different age groups while riding an ATV to mitigate the risk of an accident. This may affect the growth of the market.

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About Market Prognosis
We at Market Prognosis believe in giving a crystal clear view of market dynamics for achieving success in today’s complex and competitive marketplace through our quantitative & qualitative research methods.
We help our clients identify the best market insights and analysis required for their business thus enabling them to take strategic and intelligent decision.
We believe in delivering actionable insights for your business growth and success.

Contact us:
ProgMark Pvt Ltd,
Thane - 421501
India.
Contact No: +1 973 241 5193
Email: sales@marketprognosis.com

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