Increasing recreational
off-roading activities, growing commercialization of ATVs and rising demand for
high displacement engine ATVs to drive global all terrain vehicle market
through 2024
According
to TechSci Research report, “Global All Terrain
Vehicle Market By Product Type, By Engine Displacement, By
Application Type, By Region, Competition, Forecast & Opportunities, 2014 - 2024”, the
global all terrain vehicle market is projected to reach $ 6.2 billion by 2024.
Growth in the market can be attributed to rising popularity of off-roading
activities and growing usage in agriculture across regions like Europe and
North America. Moreover, technological advancements such as Bluetooth connectivity,
GPS systems, etc, along with growing popularity of ATVs among youth is further
pushing demand for such vehicles across the globe. Additionally, increasing
demand from various sectors like agriculture, defence sector, etc., is expected
to boost the sales of all terrain vehicles during forecast period, globally.
Browse 200 market data Figures and Tables spread
through 256 Pages and an in-depth TOC on "Global All Terrain Vehicle Market"
Among product types, utility all terrain vehicle accounted for the largest
share in global all-terrain vehicle market in 2018, backed by their versatile
usage, high load carrying capacity, easy maintenance and economical pricing as
compared to sports ATVs. Over the coming years, major global ATV manufacturers
are anticipated to come up with a wide range of advanced and specifically
designed all terrain vehicles to meet varying customer requirements. North
America is the major demand generator of ATVs, owing to increasing number of
ATV sports and racing tournaments, increasing usage in agriculture especially
in poultry farming and growing off-roading activities in the region. Moreover, increasing use of all terrain
vehicles in material transport, hunting as well as in forest and desert safari,
etc., is further likely to fuel their demand in North America.
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“Growing
use of ATVs in several applications such as sports, entertainment and
agriculture coupled with increasing number of international brands and decline
in component manufacturing cost is expected to boost the sales of all terrain
vehicles across the globe over the coming years. Moreover, increasing focus of
manufacturers to develop eco-friendly and advanced ATVs is further expected to
act as a catalyst for the industry growth over the course of next five years.”
said Mr. Karan Chechi, Research Director with TechSci Research, a research
based global management consulting firm.
Key Players
“Global All Terrain Vehicle Market By Product Type, By Engine Displacement, By Application Type, By Region, Competition, Forecast & Opportunities, 2014 - 2024” has evaluated the future growth potential of all terrain vehicles market, globally, and provides statistics and information on market size, shares and trends. The report will suffice in providing the intending clients with cutting-edge market intelligence and help them in taking sound investment decisions. Besides, the report also identifies and analyses emerging trends along with essential drivers and key challenges faced by global all terrain vehicle market.
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