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All-Terrain Vehicle (ATV) Market Latest Trends, Development, Growth Analysis And Forecast by 2025

Author : Ronak Bora | Published Date : 2020-08-21 

Increasing recreational spending in conjunction with proliferating off-roading events are driving the ATV market share over the projected timeframe. The ability of these vehicles to drive through diversified terrains and applications in agriculture, sports, military, and forestry among others are further boosting the ATV market. The availability of a range of ATVs across diversified price range catering to a wide customer base are providing a positive outlook for the industry expansion.

Industry players are investing in R&D to develop advanced all-terrain vehicles for enhancing the driving experience and improve their market share. Moreover, the advent of autonomous driving technologies is positively influencing the ATV market growth. For instance, in 2018, Honda showcased its 3E-D18 autonomous all-terrain vehicle. This vehicle is equipped with airless tires and has the capability to travel across diversified terrains for a wide range of applications including firefighting, sports training support, and agriculture.

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Stringent regulations pertaining to the exhaust emissions are providing a positive outlook for the ATV market growth over the study timeframe. The Code of Federal Regulations offers multiple regulations and guidelines related to the vehicle evaporative emissions standards, certification requirements, and general compliance provision. This ensures that the manufacturers offer their vehicles with superior engines that comply to the stringent emissions and does not pollute the environment.

The increasing cases of accidents owing to rash driving and unsuitable safety equipment may limit the ATV market share over the study timeframe. Moreover, the lack of appropriate driver training also leads to significant increase in accidents. For instance, according to the Consumer Federation of America, in 2018, the total ATV related fatalities accounted for around 300 deaths.

Youth ATV will account for a significant growth over the forecast timeframe. This can be credited to the increasing preference of youth to participate in off-roading and recreational events. Additionally, the advancements in technologies are playing a major role in improving the product appeal and gain customer traction in the industry. For instance, Polaris offers its vehicles with Ride Command application, that enables parents to know the whereabouts of the vehicle along with superior speed limiting and geofencing capabilities.

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The above 800cc ATVs will account for a considerable volume share over the study timeframe. This can be attributed to the rising demand for off-roading events across the globe. Moreover, industry players are focusing on launching on-road legalized vehicles for increasing sales and boost the revenue generation. For instance, in 2017, Powerland launched its 900D in India with the capability of driving the vehicle on-road legally.

Military will account for a considerable revenue share over the forecast timeframe. This can be attributed to the rising usage of these vehicles owing to their compact size, superior power, and torque output. Additionally, these can travel across diversified terrains, that make these vehicles ideal for transportation of soldiers during combat missions. Moreover, rising contracts from military organizations is proliferating the ATV market share. For instance, in 2015, the U.S. Special Operations Command (SOCOM) awarded a contract to Polaris for acquiring 2,000 all-terrain vehicles.

North America will account for a significant share in the ATV market. This can be credited to the availability of multiple off-roading trials across the region. Moreover, increasing recreational spending and proliferating participation in off-roading events are further boosting the regional share. Few of the major events include Grand National Cross Country and Pro Quad Championship Series. The presence of multiple organizations including the ATV Safety Institute offering safety training and knowledge about driving such vehicles is further expanding the market.

Few of the major players operating in the ATV market share include Polaris Industries Inc, HiSun Motors, Bombardier Recreational Products, Honda Motor Co Ltd, Textron Industries, Yamaha, Kawasaki Motors Corporation, and Suzuki Motor Corporation. Strategic acquisitions and mergers are among the major strategies adopted by industry players to increase their market share. For instance, in 2018, Polaris finalized the acquisition of WSI Industries with an aim of optimizing its supply chain operations and improving the company's profitability.

About Author

Ronak Bora

Ronak Bora

A graduate in Electronics Engineering, Ronak writes for fractovia and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and sport. [email protected] | https://twitter.com/RonakBora26

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