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The Global ATV and UTV Market Determined to Reach $11711.11 Million in Revenue by 2028

01-03-2022 01:25 PM CET | Advertising, Media Consulting, Marketing Research

Press release from: Triton Market Research

The Global ATV and UTV Market

The Global ATV and UTV Market

According to Triton’s report, the global ATV and UTV market, which obtained $6788.22 million in 2020, is expected to observe growth at 6.85% of CAGR by 2028.

A recent study by Triton Market Research titled ‘Global ATV and UTV Market’ entails the Global Analysis and Forecasts by End-user (Mountaineering, Agriculture, Military, Others), Vehicle Type (UTV, ATV), Application (Sports, Utility, Others), Displacement (≥ 800 (CC), ≤ 400 (CC), 400-800 (CC)), Fuel Type (Diesel-Powered, Solar-Powered, Gasoline-Powered, Electric-Powered), and by Geography (North America, Asia-Pacific, Latin America, Middle East and Africa, Europe).

Request Free Sample of the Global ATV and UTV Market Report @ https://www.tritonmarketresearch.com/reports/atv-and-utv-market#request-free-sample

Triton’s report estimates the global ATV and UTV market to develop based on revenue at a CAGR of 6.85% during the period of 2021-2028. It is further forecasted to display revenue worth $11711.11 million by 2028.

ATVs and UTVs have gained immense traction in military and sports activities. These vehicles are powered by diesel, solar, gasoline, or electricity.
In the past, driving ATVs and UTVs on roads was not permissible for safety reasons. However, recently, new bills and laws passed by several governments have allowed their use on the road.

Additionally, along with these rules, authorities are working to open ATV and UTV routes at various locations. Hence, supportive government rules, along with gaining the use of vehicles in the military, are supporting the growth of the studied market.

However, the driving ban in wildlife areas and the high cost of maintenance are hindering the progression of the ATV and UTV market worldwide.
The ATV and UTV market is broadly segmented into end-user, vehicle type, application, displacement, and fuel type. Based on end-user, the market is sectioned into mountaineering, agriculture, military, and others. The vehicle type is bifurcated into UTV and ATV. The application section is divided into sports, utility, and others. Similarly, displacement is branched into ≥ 800 (CC), ≤ 400 (CC), and 400-800 (CC). In terms of fuel type, it is categorized into diesel-powered, solar-powered, gasoline-powered, and electric-powered.

The Middle East and Africa is estimated to emerge as the fastest-growing region in the ATV and UTV market. In the UAE, quad biking experiences have gained significant traction among tourists. This has led several tours and travels companies to include quad biking as a major adventurous sports activity.

Besides, the adoption of ATVs and UTVs for adventurous sports activity in the dessert have influenced the demand for these vehicles. Hence, all these factors are widening the scope and growth of the ATV and UTV market across the United Arab Emirates, adding to the region’s growth.

Polaris Industries Inc, Textron Inc, Honda Motor Company, Kubota Corporation, Kawasaki Heavy Industries, Suzuki Motors Corporation, Deere & Company, Yamaha Motor Co Ltd, Hisun, Kwang Yang Motor Co Ltd, CFmoto, and BRP Inc are prominent companies thriving in the ATV and UTV market.

Purchase this Report @ https://www.tritonmarketresearch.com/reports/atv-and-utv-market#purchase-option

Question & Answer: ATV and UTV Market

Question 1: What factors are supporting the growth of the ATV and UTV market?
Answer: In the past, driving ATVs and UTVs on roads was not permissible for safety reasons. However, recently, new bills and laws passed by several governments have allowed their use on the road. Additionally, along with these rules, authorities are working to open ATV and UTV routes at various locations. Hence, supportive government rules, along with gaining the use of vehicles in the military, are supporting the growth of the studied market.

Question 2: What factors are hindering the progression of the ATV and UTV market worldwide?
Answer: The driving ban in wildlife areas and the high cost of maintenance are hindering the progression of the ATV and UTV market worldwide.

Question 3: Which region is estimated to emerge as the fastest-growing region in the ATV and UTV market?
Answer: The Middle East and Africa is estimated to emerge as the fastest-growing region in the ATV and UTV market. In the UAE, quad biking experiences have gained significant traction among tourists. This has led several tours and travels companies to include quad biking as a major adventurous sports activity. Besides, the adoption of ATVs and UTVs for adventurous sports activity in the desert have influenced the demand for these vehicles. Hence, all these factors are widening the scope and growth of the ATV and UTV market across the United Arab Emirates, adding to the region’s growth.

Question 4: Which are the prominent companies thriving in the ATV and UTV market?
Answer: Polaris Industries Inc, Textron Inc, Honda Motor Company, Kubota Corporation, Kawasaki Heavy Industries, Suzuki Motors Corporation, Deere & Company, Yamaha Motor Co Ltd, Hisun, Kwang Yang Motor Co Ltd, CFmoto, and BRP Inc are prominent companies thriving in the ATV and UTV market.

Related Report:

Global E-Bike Market

The global e-bike market is likely to showcase growth in its revenue during 2019-2028 at a CAGR of 9.95%. It is likely to attain revenue worth $48.46 billion by 2028.

Electric bikes are generally powered by an electric motor that assists in easy pedaling for riders. These bikes have emerged as an ideal substitute for scooters as they are environmentally friendly.
Factors such as government incentives and a rise in demand for e-bikes supplement the growth of the e-bike market across the world.

Other than this, the rise in the use of e-bikes for delivery services, coupled with the use of e-bike to resolve the fuel prices, opens new avenues for the e-bike market.

Triton Market Research
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