Press release
All-Terrain Vehicle (ATV) Market 2024 - Examining Business Outlook, Sharing Industry Insights, Offering a Regional Overview, and Forecasting Till 2033
All-Terrain Vehicle (ATV) Market
The Business Research Company offers in-depth market insights through All Terrain Vehicle ATV Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.
Market Size And Growth Forecast:
The all-terrain vehicle (atv) market size has grown strongly in recent years. It will grow from $3.56 billion in 2023 to $3.76 billion in 2024 at a compound annual growth rate (CAGR) of 5.7%. The growth in the historic period can be attributed to recreational off-roading popularity, agricultural and farming applications, military and defense usage, expansion of outdoor recreation.
The all-terrain vehicle (atv) market size is expected to see strong growth in the next few years. It will grow to $4.7 billion in 2028 at a compound annual growth rate (CAGR) of 5.7%. The growth in the forecast period can be attributed to increased urban and suburban recreational use, stringent emission standards, advanced safety features, growing demand in emerging markets. Major trends in the forecast period include electric atv models, autonomous atv technologies, lightweight and high-performance materials, connectivity and iot integration, customization and personalization options.
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Market Segmentation:
The all-terrain vehicle (atv) market covered in this report is segmented -
1) By Vehicle Type: Utility ATV, Sports ATV, Recreational, Other Vehicles
2) By Displacement: Low, Mid, High
3) By Application: Sports, Entertainment, Agriculture, Military, Hunting
Major Driver - Government Backing Accelerates Growth In The All-Terrain Vehicle (ATV) Market
Government support is expected to drive the growth of the all-terrain vehicle (ATV) market going forward. The governments of different countries are supporting the automotive sector to produce new solutions to better serve the industry. For example, in Thus, the government support will increase the demand for tourism industry thereby increasing the demand for all-terrain vehicle (ATV) market. For example, in July 2022, The U.S. Department of Energy (DOE) announced a $96 million funding opportunity to support decarbonizing the domestic transportation sector. The funding will focus on expanding electric vehicle (EV) charging accessibility, create cleaner non-road vehicles through electrification and the use of alternative fuels, and develop electric drive components and materials to maximize EV efficiency and affordability. Thus, the government support will propel the growth of the all-terrain vehicle (ATV) market.
Competitive Landscape:
Major companies operating in the all-terrain vehicle (atv) market report are Bombardier Recreational Products Inc., Suzuki Motors Corporation, Kawasaki Motors Corporation, HiSun Motors Corp., Yamaha Motor Co. Ltd., AISIN SEIKI Co. Ltd., Honda Motor Co. Ltd., Polaris Industries Inc., TEAM Industries Inc., Arctic Cat Inc., Deere & Company, KTM AG, Can-Am Off-Road, Textron Inc., CFMOTO Powersports Inc., Kwang Yang Motor Co. Ltd., Linhai Industrial Share Co. Ltd., TGB Group, Kandi Technologies Group, Kymco USA Inc., Massimo Motor Sports, ODES Industries LLC, Suzuki Motorcycle Corporation, Apollo io, BMS Motorsports, Maxtrade LLC, Hammerhead Off-Road Inc., Chongqing TaoTao Technology Co. Ltd., Trailmaster Inc., DRR USA Inc.
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Top Trend - Innovative Product Developments Drive The All-Terrain Vehicle (ATV) Market
New product innovations are a key trend gaining popularity in the all-terrain vehicle (ATV) market. Companies are emphasizing new product development to meet the fast-growing demand from end customers, and increase market share and global presence. For instance, in 2021, Yamaha Motor Corp. announced the launch of Grizzly EPS XT-R for utility purposes with a 686 CC liquid-cooled SOHC 4-stroke engine and 3-way differential locking. Also, in September 2020, Suzuki Motors Corp. launched the KingQuad ATV models for the 2021 lineup. The 2021 KingQuad 750AXi Power Steering SE plus for sports utility is equipped with independent suspension, an advanced electric power steering system, and high towing capacity to enable more comfortable operation.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. All Terrain Vehicle ATV Market Characteristics
3. All Terrain Vehicle ATV Market Trends And Strategies
4. All Terrain Vehicle ATV Market - Macro Economic Scenario
5. All Terrain Vehicle ATV Market Size And Growth
…..
27. All Terrain Vehicle ATV Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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