All-terrain vehicle (ATV) Market worth USD 5.12 by 2029 : Cognitive Market Research

As per Cognitive Market Research analysis revenue of the global all-terrain vehicle (ATV) market was estimated to be USD 3.81 billion in 2021 and is expected to reach USD 5.12 billion in 2029 with a CAGR of 5.01% (2022-2029).

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ATV stands for the all-terrain vehicle; a motorized off-highway vehicle with a straddle seating position, and handlebar steering. ATVs often have low-pressure or non-pneumatic tires and have the ability to maneuver through a variety of terrain conditions. The growing inclination of the population toward sports, adventure, and recreational activities is creating buzz for ATVs for recreational and sports adventure activities. The increasing number of ATVs competitions and championships is also resulting in the increasing awareness associated with ATVs. Moreover, the rising prevalence of ATVs at tourist attractions places (including forests, mountains, and beaches) where visitors can rent them is also becoming increasingly popular. Thus, with increasing tourism the demand for ATVs is also increasing, driving the growth of the ATVs market.
- According to the UNWTO World Tourism Barometer, international tourist arrivals almost tripled from January to July 2022 (+172%) compared to the same period in 2021, with a recovery of almost 60% of pre-pandemic levels.

The increasing R&D activities, adoption of advanced technology, and electrification of ATVs are expected to provide lucrative opportunities for the ATVs market. However, the high initial and maintenance cost, significant accident rate, and regulatory parameters associated with ATVs may hinder the growth of the market

Regional Analysis of the All-terrain vehicle (ATV) Market:
• Based on Region market is fragmented into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. North America is expected to have the highest market share followed by Europe. Significantly higher disposable income, spending capacity, and availability of off-roading destinations are among the factors driving growth in these regions. Additionally, manufacturers' focus on producing energy-efficient and electrical ATVs also contributes to the growth of ATVs in this region. However, the Asia Pacific region is estimated to witness a higher CAGR in the forecasted period.

Top players involved in the All-terrain vehicle (ATV) market:
• Polaris Inc.
• American Honda Motor Co. Inc.
• Bombardier Recreational Products Inc
• Yamaha Motor Corporation U.S.A.
• Arctic Cat Inc
• Kawasaki Motors Corp.
• CFMOTO UK
• TGB
• Jiangsu LINHAI Power Machinery Group Co. Ltd
• DRR USA

Current Trends of Manufacturers:
• August 2022 :
- Polaris has announced its 2023 lineup, comprising a dynamic mix of rider-inspired vehicle updates, fresh new looks, and the expansion of RIDE COMMAND+ features. The Model Lineup includes 2023 RANGER XP 1000 NorthStar, RANGER 1000 Premium, RANGER XP 1000 CREW, RZR Pro R, RZR Turbo R, RZR XP 1000, RZR Trail, GENERAL XP 1000 Ultimate, GENERAL XP 1000 Premium, GENERAL 1000 Sport, Sportsman 450, Sportsman 1000, Outlaw 70 EFI Limited Edition, Phoenix 200, Outlaw 110 EFI and others.

• September 2021 :
- Polaris Delivers Its Most Powerful & Advanced Side-By-Sides of All Time With RZR Pro R and RZR Turbo R

• November 2022 :
- Honda Announces Small-Displacement ATVs for 2023
The FourTrax Recon, TRX250X, and TRX90X are three small-displacement ATVs that American Honda has confirmed to return in 2023. These models demonstrate the broad range of capabilities of Honda's light-duty ATVs, which vary from on-the-job usefulness to weekend fun.

• August 2022 :
- Yamaha Launches 2023 Proven Off-Road ATV and Side-by-Side Lineup
- Yamaha Motor Corp., USA, reveals its 2023 model year lineup of Proven Off-Road
- ATV and Side-by-Side (SxS) vehicles. The models include
- Recreational SxS Lineup: Wolverine RMAX2 1000, RMAX4 1000, X2, and X4
- Pure Sport SxS Lineup: YXZ1000R SS and YXZ1000R
- Utility SxS Lineup: Viking and Viking VI
- Utility ATV Lineup: Grizzly, Kodiak 700, and Kodiak 450
- Sport ATV Lineup: Raptor 700, Raptor 700R and YFZ450R
- Youth ATV Lineup: Grizzly 90, Raptor 90, and YFZ50

• August 2021 :
- Yamaha Celebrates 4 million Units Assembled in Newnan, GA
Yamaha has invested more than $380 million into U.S. manufacturing to create a world-class facility in Newnan. The facility covers 280 acres with more than 1.3 million square feet of manufacturing facilities, giving it a massive physical footprint in Newnan.
The Newnan plant complex is where Yamaha manufactures all of its Side-by-Sides, full-size ATVs, WaveRunners, and Golf Cars for global distribution.

Segment Analysis:
The All-terrain vehicle (ATV) Market is segmented on the basis on application, engine capacity, wheel number, fuel type, and region.
• Based on Application the market of fragmented into sports ATVs, recreational/entertainment, agriculture, side-by-side ATVs, utility ATVs, military and defence, and children's ATVs. The recreational/entertainment segment is estimated to show a significant market share in 2021. The rising disposable income and increasing tourism activities are among the few factors creating buzz for recreational/entertainment. ATVs are been made available on several; tourist spots such as hiking, camping, mountain, beach, etc. on a rental basis where people can enjoy the ride.

• Based on Wheel Number, the ATV market is fragmented into 4-wheeled ATVs and 3-wheeled ATVs. The 4-wheeled ATVs account for the highest market share as they improve traction in dangerous driving conditions offering better control and grip on the road. Thus, 4-wheeled ATVs are been largely deployed in agriculture, recreational and sports activities, military purpose, etc. which drive sales of 4-wheeled ATVs in the market. However, owing to the mounting number of injuries and death cases associated with 3-wheeled ATVs, the sales of 3-wheeled ATVs have been negatively impacted. Nations including the United States have also restricted the sale of three-wheelers ATVs due to the high incidence of injury associated with their use, especially by children.

Related Report:
• Amphibious ATV Market - https://www.cognitivemarketresearch.com/amphibious-atv-market-report
• All Electric ATV Market - https://www.cognitivemarketresearch.com/all-electric-atv-market-report
• Utility Terrain Vehicle UTV Market - https://www.cognitivemarketresearch.com/utility-terrain-vehicle-utv-market-report
• ATV Market - https://www.cognitivemarketresearch.com/atv-market-report

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