VVT and Start-Stop System Market 2020 Launch Of New Programs & Collaborations | Why is the ATV & UTV Market is Significantly Growing? with Top Companies: Polaris Industries, Deere & Company, Kawasaki Motors, Yamaha Motor, Honda Motor Company, BRP, HISUN,
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Allied Market Research published a report, titled, "ATV and UTV Market by Vehicle Type (ATV and UTV), Displacement (< 400 (CC), 400-800 (CC), and > 800 (CC)), Engine Type (Gasoline Powered, Diesel Powered, Electric Powered, and Solar Powered), Application (Utility, Sports, and Others), and End-user Vertical (Agriculture, Military, Mountaineering, and Others): Global Opportunity Analysis and Industry Forecast, 2018 - 2025." The report provides an in-depth analysis of the key winning strategies, drivers & opportunities, market share, key segments, and competitive landscape. According to the report, the global ATV and UTV market garnered $7.62 billion in 2017 and is expected to reach $14.10 billion by 2025, registering a CAGR of 7.8% from 2018 to 2025.
The key players analyzed in this VVT and start-stop system market report are Polaris Industries, Inc., Deere & Company., Kawasaki Motors Corp., U.S.A., Yamaha Motor Co., Ltd., ARCTIC CAT INC., Honda Motor Company, BRP, HISUN, KYMCO, and Suzuki.
In 2017, by vehicle type, the ATV dominated the global ATV & UTV market, in terms of revenue. In addition, based on displacement, the 400?EUR"800 (CC) segment generated the highest revenue. By fuel type, the gasoline segment is expected to maintain the lead throughout the forecast period. Based on application, the sports segment has the highest contribution in ATV whereas the utility segment has highest contribution in the revenue for UTV. By end-user vertical, the mountaineering segment has the highest revenue globally. At present, North America is the highest revenue contributor and is expected to garner the highest revenue in the global market during the forecast period, followed by Asia-Pacific, Europe, and LAMEA.
Increase in trend of power sports and outdoor recreational activities, extensive use of ATV and UTV in military activities, and government rules in favor of driving ATVs and UTVs on roads drive the market growth. However, ban on ATV and UTV driving in wildlife areas due to terrain damage and high maintenance cost of ATVs and UTVs restrain the growth of the market. Conversely, production of safer ATVs and UTVs is expected to provide opportunities for the growth of the market.
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UTV segment to lead in terms of revenue, ATV to grow the fastest through 2025
Among vehicle types, the UTV segment accounted for more than two-thirds of the total market share in 2017 and would maintain its revenue lead through 2025. This is due to the high adoption of UTVs by military forces and its wide range of applications such as material handling, wildlife management, hunting, and others. However, the ATV segment would register the fastest CAGR of 9.0% from 2018 to 2025. ATV will exhibit a remarkable growth during the forecast period due to the growing trend of power sports and recreational activities worldwide.
400-800 (CC) segment to dominate, >= 800 (CC) segment to show the fastest growth
Among displacements, the 400-800 (CC) segment grabbed more than two-fifths of the market share in 2017 and is likely to remain dominant through the study period. ATVs and UTVs with this range of displacement are ideal for sports and recreational activities. However, the >= 800 (CC) segment would grow at the fastest CAGR of 8.6% from 2018 to 2025.
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