Press release
The Global ATV and UTV Market Assessed to Progress at $11.71 Billion by 2028
ATV and UTV Market
A recent study by Triton Market Research titled 'Global ATV and UTV Market' consists of the Global Analysis and Forecasts by Vehicle Type (UTV, ATV), Fuel Type (Diesel-Powered, Electric-Powered, Solar-Powered, Gasoline-Powered), Displacement (400-800 (CC), ≤ 400 (CC), ≥ 800 (CC)), End-user (Agriculture & Utility, Military & Defense, Sports, Recreational, other End-users), and by Geography (North America, Middle East and Africa, Asia-Pacific, Europe, Latin America).
UTVs and ATVs are used to efficiently carry out tasks in various sectors, including military, sports, and farming, among others.
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 research report states that the ATV and UTV market is expected to grow at a CAGR of 6.65% during the forecasting years 2022-2028. It is expected to gain revenue worth $11.71 billion by 2028.
Over the years, there has been a rise in demand for ATVs and UTV in the military sector, owing to their superior mobility for tactical missions. Moreover, these quad bikes help navigate in off-road locations, which increases their demand for military activities. Thus, the rising use of these vehicles in the military supplements the growth of the ATV and UTV market.
However, certain factors, such as driving bans imposed in wildlife areas and high maintenance costs, are limiting the overall development of the ATV and UTV market.
The global ATV and UTV market is segmented into vehicle type, fuel type, displacement, and end-user. The vehicle type is sectioned into UTV and ATV. The fuel type is subdivided into diesel-powered, electric-powered, solar-powered, and gasoline-powered. Based on displacement, it is divided into 400-800 (CC), ≤ 400 (CC), and ≥ 800 (CC). Lastly, the end-user section is divided into agriculture & utility, military & defense, sports, recreational, and other end-users.
Purchase this Report @ https://www.tritonmarketresearch.com/reports/atv-and-utv-market#purchase-option
North America dominates the ATV and UTV market and is likely to have a stronghold till 2028. Several clubs are promoting the construction of trails in Canada. Additionally, they organize various sports activities, increasing the demand for ATVs and UTVs. The presence of prominent companies also adds to the studied market's growth. Besides, many players are launching new vehicles across the US and Canada, which further drives the growth of the ATV and UTV market.
BRP Inc, Polaris Industries Inc, Yamaha Motor Co Ltd¸ Textron Inc, Kubota Corporation, Kwang Yang Motor Co Ltd, Hisun, Suzuki Motors Corporation, Kawasaki Heavy Industries, Honda Motor Company, Deere and Company, and CFmoto are well-known firms in the ATV and UTV market.
Related Report:
Global E-Bike Market - https://www.tritonmarketresearch.com/reports/e-bike-market
The global e-bike market is expected to advance at a CAGR of 9.95% during the period of 2021-2028 while reaping $48461.01 million by 2028.
Electric bikes are powered by an electric motor that offers easy pedaling, an ideal substitute for scooters. Moreover, they are versatile and eco-friendly.
The rise in e-commerce platforms has increased the demand for logistics services. Hence, the use of e-bikes over their transportation has proven advantages in reducing ecological damage and cutting traffic. Besides, they are cost-effective and viable options in covering short distances, thereby driving the growth of the e-bike market.
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Triton is a leading market research company providing clients with the best online market research data reports. Our offerings include syndicated market insights, customized research reports, and cost-effective consulting services for constructive decision-making.
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XY FORCE
LINHAI
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ShuoPu
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