Sales Outlook Of All-Terrain Vehicles Is Expected To Touch US$ 4.2 Billion By 2031

Fact.MR's report on the all-terrain vehicles market expects a moderate expansion trajectory, expanding at over 3% CAGR to surpass US$ 4 Bn by the end of the 2021-2031 forecast period. Increasing demand for off-road vehicles across various industries is spurring demand in recent years.

Historical performance reveals that sales of all-terrain vehicles expanded at over 2% CAGR between 2016 and 2020, closing in at US$ 3 Bn by the end of the aforementioned period. The outbreak of COVID-19 have stalled prospects, as production crunches experienced during the lockdowns significantly hindered automotive production. Prospects improved in the second half of 2020, however, prospects are expected to remain moderate.

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Key Segments Covered

Drive type

2WD in All-Terrain Vehicles
4WD in All-Terrain Vehicles
AWD in All-Terrain Vehicles

Fuel Type

Gasoline-powered All-Terrain Vehicles
Below 400 cc
400 - 800 cc
More than 800 cc
Electric-powered All-Terrain Vehicles

Seating Capacity

One Seat All-Terrain Vehicles
Two Seat All-Terrain Vehicles

Application

Sports All-Terrain Vehicles
Entertainment All-Terrain Vehicles
Agriculture All-Terrain Vehicles
Military & Defence All-Terrain Vehicles
Other (Hunting & Forestry, etc.) All-Terrain Vehicles

Age Group

All-Terrain Vehicles for Youth
All-Terrain Vehicles for Adults
Number of Wheels
Four Wheeled All-Terrain Vehicles
> Four Wheeled All-Terrain Vehicles

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Competitive Landscape

Prominent players are embracing innovative approaches such as ground-breaking marketing tactics, technological advancements, mergers, and acquisitions.

In Sept 2018, Powersports manufacturer Polaris Industries Inc. and WSI Industries Inc. jointly announced a merger agreement in cash for a total enterprise value of approximately US$23.9 Mn. The merger is expected to close in the Q4 of 2018.
In June 2021, Honda becomes the first of Japan's automakers to state publicly it will phase out sales of gasoline-powered cars completely, setting 2040 as the goal. The company plans to unveil 3 new electric two-wheelers by 2024, as well as 10 new EV cars in China within 5 years.

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