The
global All-Terrain Vehicle Market size is expected to
reach USD 6.01 billion by 2030, registering a CAGR of 3.8% from 2023 to 2030,
as per a new report by Grand View Research, Inc. The development of off-road
terrains, trails, and recreational parks is projected to boost the demand for
All-terrain Vehicles (ATVs) by 2030. Moreover, governments’ initiatives to
enhance tourism and recreational activities have supported the sales of ATVs.
For instance, the Travel Management & Off-Highway Vehicle (OHV) Program
announced by the U.S. Forest Service aims to increase the awareness and
popularity of trails in North America.
Factors
such as the growing popularity of off-road racing events and increased
advertising have fueled the demand for ATVs across the globe. For instance, in
January 2019, the Desert Series Pro ATV tournament involved ATV enthusiasts and
many off-road vehicles which contributed to the adoption of ATVs. Additionally,
growth in investments from sponsors is anticipated to boost the growth of the
market by 2030.
Over
the past few years, economic growth in developing economies, such as India and
China, has resulted in higher disposable incomes and purchasing power of
individuals, creating more spending capacity. This, in turn, supports the
travel and tourism industry. As per the data published by the World Travel and
Tourism Council (WTTC), the global tourism sector grew by 3.9% in 2018. The
development of the tourism sector has led to a significant increase in
recreational activities, thereby driving the demand for ATVs.
North
America dominated the ATV market in 2022. This can be attributed to the
presence of vast and diverse landscapes in North America, including mountain
ranges and dense forests. ATV manufacturers focus on developing innovative and
safer equipment that can meet the diverse needs of end users who want to
explore tough terrains. Additionally, the increasing production and sales of
ATVs in North America are expected to contribute to the growth of the market.
The presence of various market players, including Polaris Inc., Textron Inc.,
and BRP, among others, is likely to further contribute to the growth
Related
Press Release@ All-Terrain Vehicle Market Report
List of Key Players of All-terrain Vehicle Market
- Polaris Inc.
- American
Honda Motor Co., Inc.
- BRP
- Yamaha Motor
Corporation, USA.
- ArcticInsider.com
- CFMOTO
- Kawasaki
Motors Corp., U.S.A.
- KYMCO
- LINHAI
POWERSPORTS USA CORPORATION
- Suzuki Motor
of America, Inc.
All-terrain Vehicle Market Report Highlights
- The market
for all-terrain vehicles is anticipated to witness growth owing to the
increasing number of adventure and trails parks and the rising popularity
of off-road sports activities
- The
400cc-800cc engine type segment accounted for a significant revenue share
of over 48.2% in 2022. The increase in demand for 400-800cc engine ATVs is
accredited to the demand for search & rescue operations and utility
purposes
- Asia Pacific
is expected to expand at the fastest CAGR of 5.3% during the forecast
period
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All-terrain Vehicle Market Segmentation
Grand
View Research has segmented the global all-terrain vehicle market report based
on engine type, application, and region
All-terrain Vehicle (ATV) Engine Type Outlook (Revenue,
USD Million, 2018 - 2030)
- Below 400cc
- 400 - 800cc
- Above 800cc
All-terrain Vehicle (ATV) Application Outlook (Revenue,
USD Million, 2018 - 2030)
- Agriculture
- Sports
- Recreational
- Military and
Defense
All-terrain Vehicle (ATV) Regional Outlook (Revenue, USD
Million, 2018 - 2030)
- North
America
- U.S.
- Canada
- Europe
- UK
- Germany
- France
- Asia Pacific
- China
- Japan
- India
- Australia
- South Korea
- Latin
America
- Brazil
- Mexico
- Middle East
and Africa
- Saudi
Arabia
- South
Africa
- UAE
About Us:
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco. The
company provides syndicated research reports, customized research reports, and
consulting services. To help clients make informed business decisions, the
company offers market intelligence studies ensuring relevant and fact-based
research across a range of industries including technology, chemicals,
materials, healthcare and energy.
Contact:
Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc
Phone: 1-415- 349-0058
Toll Free: 1-888- 202-9519
Email: sales@grandviewresearch.com
For More Information: https://www.grandviewresearch.com
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