All-Terrain Vehicle Industry 2018 Global Market Size, Growth, Leading Players, Opportunities, Trends, Share, Competitive And Regional Forecast To 2023

“All-Terrain Vehicle Market”
All-Terrain Vehicle Market to rise at 7% CAGR between 2018 and 2023. Global All-Terrain Vehicle (ATV) Market growth is attributed to factors such as, growing economy of the country, higher purchasing power and spending capacity of individuals and societies for leisure as well as adventure vehicles. The global all-terrain vehicle market has been segmented based on application, displacement, vehicle type, and lastly, region. The regional segmentation of the global all-terrain vehicle Industry segments the global mark

Key Players:

The key players in the global all-terrain vehicle (ATV) market include Arctic Cat (USA), BMW (Germany), Bombardier Recreational Products (Canada), CFMOTO Powersports Inc. (USA), Honda Motor Company, Ltd. (Japan), Kawasaki Heavy Industries Ltd. (Japan), KTM AG (Austria), Polaris Industries Inc. (USA), Suzuki Motor Corporation (Japan), and Yamaha Motor Company Limited (Japan).

Another important factor is competitions involving all-terrain vehicles in the developed nations that attract a higher number of tourists, which further contributes to the market growth. The last factor aiding the market growth is the availability of all-terrain vehicles an easier option to physically disabled tourists to explore the natural terrain, which otherwise would have been a problem. The strict regulations regarding safety can be an obstacle to market growth because many people do not have perfect driving skills.

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The global all-terrain vehicle market has been segmented on the basis of application, displacement, vehicle type, and lastly, region. The application-based segmentation segments this market into agriculture, entertainment, hunting, military, sports, and others. The segmentation on the basis of displacement covers low displacement, mid-displacement, and high displacement.  By vehicle type, the market has been segmented into a recreational vehicle, sports vehicle, sports utility vehicle, utility vehicle, touring vehicle, and others.

The regional segmentation of the global all-terrain vehicle market segments the global market into regional markets namely North America, Asia Pacific, Europe, and rest of the world (RoW). North America is the largest regional market. The global production, as well as sales of all types of ATVs, is lead by North America. Countries like USA and Canada have a vast and diverse landscape that ranges from mountain ranges to huge forest spaces. Therefore, ATV manufacturers develop different vehicles, which can be used in different scenarios and landscapes. In the USA, the biggest tourist attraction regarding ATVs is the annual ATV motorsport competition that involves different formats such as mountain terrain, plain surface terrain, rocky terrain, and snow racing. This tourist attraction drives economic growth that also leads to the growth of this market. Many key players in the global market are based in North America.

Europe is another significant regional market due to the high density of population, various mountains, and some key market players being based in this region. The major country-specific markets in this region are France, Germany, Italy, Spain, and the UK, followed by the remaining countries of Europe.

The Asia Pacific region is not as big market as North America and Europe at the moment due to lack of availability of ATV vehicles. However, given its geography, it can become a plum market for people who love to travel. In some regions, the market is already growing. The primary country-specific markets in this region are China, India, and Japan, followed by the remaining countries of the Asia Pacific region.

Latest Industry News:

The Mahindra Roxor is now available in Canada as recreational ATV. 7 DEC 2018

The Wapello County Rural Fire Agency received a substantial grant of $25,000 from the Independent Order of Oddfellows. The Wapello County Rural Fire Agency has decided to acquire an All-Terrain-Vehicle (ATV) called a Gator with this amount. This ATV will help firefighters transport water and supplies to areas that are difficult to reach. 8 DEC 2018

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