Global ATV Market Size worth over $3.3 Bn by 2025
Published Date: June 27, 2019 Authors: Ankita Bhutani
All-Terrain Vehicles (ATV) Market size is estimated to surpass USD 3.3 billion by 2025; according to a new research report by Global Market Insights, Inc.
Rising recreational spending along with increasing number of off-roading events are expanding the ATV market share over the projected timeframe. Increasing youth preference to opt for adventure off-roading events along with availability of wide range of products across varied price further supports the industry growth. Proliferating use of ATVs by the military forces for diversified applications including transporting armed forces and ammunitions across long distances and rough terrain provides a positive outlook for the all-terrain vehicles market expansion.
Industry participants are continuously investing in R&D for developing advanced technologies for improving the overall driving experience. The incorporation of independent suspension systems along with continuously variable transmission technologies contributes significantly towards lowering driver fatigue and improve the driving comfort. The integration of electronic fuel injection system in ATV engines improves performance significantly and enhances the fuel efficiency significantly.
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Governments across the globe are supporting the usage of ATVs for recreational activities by promoting the construction of multiple trials. Major government organizations are also funding the upgradation of old trials to include ATV trials. For instance, in 2017, National Resources Board in the U.S. announced the upgradation of the Northern Highland American Legion State Forest to include off-roading trials for felicitating off-roading events.
Regulatory authorities including the Recreational Off-Highway Vehicle Association (ROHVA), United States Consumer Product Safety Commission (CPSC), and the U.S. Environmental Protection Agency (EPA) establish numerous regulations regarding the ATV usage and occupant safety. Government bodies also focus on reducing the carbon emission levels by enforcing emission rules and regulations for specified vehicle segments. For instance, the U.S Environmental Protection Agency (EPA) establishes emission standards for engines to restrict the vehicle emissions. Moreover, CPSC along with ROHVA also enact regulations associated with recreational off-highway vehicles to control air pollution arising from such vehicles.
Browse key industry insights spread across 250 pages with 423 market data tables & 10 figures & charts from the report, “All-Terrain Vehicles (ATV) Market Size By Product (Youth ATV, Adult ATV) By Displacement (Below 400 cc, 400 – 800 cc, Above 800 cc) By Application (Utility, Sports, Recreation, Military) Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, UK, France, Italy, Spain, Russia, Sweden, China, India, Japan, Australia, Brazil, Mexico, Argentina, Saudi Arabia, UAE, South Africa), Growth Potential, Price Trends, Competitive Market Share & Forecast, 2019 – 2025” in detail along with the table of contents:
The rising cases of accidents due to rash driving along with ignorance of wearing safety equipment by the youth while riding such vehicles may hamper the all-terrain vehicles (ATV) market share over the projected timeframe. For instance, according to the Consumer Product Safety Commission, the total ATV related deaths accounted for 295 in 2017. Industry players are improving the safety of such vehicles by incorporating safety features including anti-lock braking systems to prevent accidents.
Youth ATV will register significant growth in the all-terrain vehicles market share over the study timeframe. This can be credited to the rising participation of youth in off-roading events. Moreover, the increasing youth racing events including the GNCC Amateur Competition, along with the availability of multiple vehicle models at varied price range further accentuates the segment size. Stringent government regulations for mandating minimum age requirements for driving such vehicles along with strict wearing of safety gear are providing a positive outlook for the industry expansion.
The 400-800cc ATVs will account for a significant volume share owing to the increasing investments by industry players to launch advanced new models for catering to the rising demand. For instance, in 2018, Polaris announced the launch of its limited-edition Sportsman 570 ATV with electronic power steering, and engine braking system technologies. Moreover, the vehicle also includes a 2,500-pound winch along with front bumpers.
Military segment will account for a considerable revenue share in the ATV market size owing to the rising adoption of such vehicles for diversified applications including assistance in tactical and combat missions. Moreover, the vehicles are also ideal for transporting armed forces and ammunitions across rough terrains. The ability to carry higher capacity load along with lower maintenance requirements and compact dimensions are further expanding the segment share over the study timeframe.
North America holds a significant volume share in the ATV market size owing to the presence of multiple industry participants including Arctic Cat, Polaris Industries Inc, Bombardier Recreational Products, Yamaha Motor Corporation and Kawasaki Motors. Moreover, supporting government regulations for construction of trials and parks are boosting the regional size. Proliferating economic growth and presence of multiple state parks and trails encourages participation of adventure enthusiasts in off-road driving events. Few of the major trails include Hatfield McCoy Trail System, Brimstone Recreation Area, Paiute Trail System, and Moab among others.
Major players operating in the all-terrain vehicles (ATV) market share include Bombardier Recreational Products (BRP), Polaris Industries, Kawasaki Heavy Industries, Yamaha Motor corporation, Suzuki Motor corporation, Honda Motor Co Ltd, and KYMCO. Industry participants are involved in strategic acquisitions and partnerships for expanding their market share. For instance, in March 2017, Textron Inc. acquired Arctic Cat Inc. to expand their product lineup including ATVs and side-by-side vehicles to serve larger consumer base, thereby supporting the all-terrain vehicles market size.
The all-terrain vehicles (ATV) market research report includes in-depth coverage of the industry with estimates & forecast in terms of volume in units and revenue in USD million from 2013 to 2025, for the following segments:
ATV Market by Product
- Youth ATV
- Adult ATV
ATV Market by Displacement
- Below 400 cc
- 400 - 800 cc
- Above 800 cc
ATV Market by Application
The above information is provided on a regional and country basis for the following:
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
- Saudi Arabia
- South Africa
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