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How would the trend of electric impact the All-terrain Vehicle Market over the next 5 years?

11-18-2020 07:35 AM CET | Advertising, Media Consulting, Marketing Research

Press release from: MarketsandMarkets

How would the trend of electric impact the All-terrain Vehicle

The report "All-terrain Vehicle Market by Type & Application (Sport, Entertainment, Agriculture, Military & Defense), Drive (2WD, 4WD, AWD), Engine (800cc), Fuel (Gasoline, Electric), Wheel Number, Seating Capacity, and Region-Global Forecast to 2027" The all-terrain vehicle market, by value, is projected to grow to USD 4.7 billion by 2027 from USD 3.9 billion in 2019, at a CAGR of 2.2% during the forecast period. The increasing demand for all-terrain vehicles in agriculture, military & defense, and recreation is driving the growth of the all-terrain vehicle market. Also, the increased purchasing power and spending capacity of individuals and societies for leisure and adventure vehicles would increase the sales of all-terrain vehicles, which would drive the market for all-terrain vehicles.

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“Sports to be the largest segment, by Application”

The sports segment is projected to lead the all-terrain vehicle market, by application. ATVs used in sports feature energetic engines and long travel suspension for better handling experience. Riders prefer sport ATVs, especially in ATV championships. Their high-power engine and torque make them distinctive. The engine capacity of sport ATVs ranges from 100 to 1000cc. Also, sport ATVs can be modified and equipped with different accessories to design unique style and power. The shifting skills and handling features make these types of ATVs ideal for sporting activities. The increase in recreational activities in the tourism sector is driving the growth of ATV market in sports application globally.

“>800cc to be the fastest growing market for All-terrain vehicles, by Engine Type”

The >800cc engine is the fastest growing engine type segment that ultimately defines the ATV power and efficiency. A >800cc engine ATV is used in loading, transporting, and heavy activities. OEMs and manufacturers are investing heavily in the development of improved engines with better horsepower and torque. Various developments with respect to vehicle design have been undertaken by OEMs to install high power engines. Moreover, the demand for >800cc engine variant ATVs is exponentially growing due to its usage in many heavy-duty applications.

The >800cc engine has a high demand in sports, recreation, agriculture, mining, and construction. Thus, >800cc engine type is estimated to be the fastest growing market for all-terrain vehicles, by engine type.

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“Europe to be the fastest growing market for All-terrain vehicles, followed by Asia Pacific”

The European region is expected to emerge as the fastest growing market for all-terrain vehicle from 2019 to 2027. The adoption of ATV regulations in Europe would lead to increasing demand for all-terrain vehicles in the region. For instance, the change in homologation system, the EU type-approval frameworks for quadricycles (L-category), and agricultural & forestry vehicles (T-category) came into force. These regulations replaced the directive-based homologation system. As a result, the homologation of both utility and recreational All-Terrain Vehicles (ATVs) is regulated by Regulation (EU) 167/2013 (T) and Regulation (EU) 168/2013 (L). This regulatory change has directly affected the ATV market in Europe in the last 4 to 5 years. The European market is expected to grow as ATV manufacturers have already started complying with the EU requirements for ATV.

Therefore, Europe is estimated to be the fastest growing market for ATVs, particularly for utility ATVs. The sale of utility ATVs is projected to increase during the forecast period.

Key Market Players:

The all-terrain vehicle market is dominated by global players and comprises several regional players as well. The key players in the all-terrain vehicle market are Polaris Industries (US), Textron (US), Honda (Japan), Kawasaki (Japan), Suzuki (Japan), Yamaha (Japan), and BRP (Canada).

Key questions addressed by the report

• Which application will lead the ATV market in the future?
• How will government regulations impact the ATV market globally?
• How would the trend of electric ATVs impact the market over the next 5 years?
• What is the share of sport and utility ATVs in the total ATV sales?

View Detail TOC @ https://www.marketsandmarkets.com/Market-Reports/all-terrain-vehicle-market-255821381.html

Company Name: MarketsandMarkets
Contact Person: Mr. Aashish Mehra
Email: newsletter@marketsandmarkets.com
Phone: 18886006441
Address: 630 Dundee Road Suite 430
City: Northbrook
State: IL 60062
Country: United States

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth emerging opportunities/threats which will impact 70% to 80% of worldwide companies' revenues. Currently servicing 7500 customers worldwide including 80% of globalFortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions. Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model - GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve. MarketsandMarkets's™ flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

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