The global all-terrain vehicles market produced around 775 thousand units in 2015 and is expected to surpass 1148 thousand units by 2020, says Technavio.
Technavio has announced its latest market research report on all-terrain vehicles during the forecast period, 2016-2020. This market analysis, under the automotive services vertical, discusses the major drivers and key emerging trends that will influence the growth of the global all-terrain vehicles market during the forecast period. Some of the top vendors listed in this industry analysis include Polaris, Bombardier Recreational Products, Arctic Cat, Yamaha Motor, and Honda Motor.
In terms of geographical analysis, the Americas will be the largest region in the global market, and is expected to grow at a CAGR of almost 10% by 2020. The US and Canada will emerge as the key revenue-generators.
“The OEMs in the market are shifting towards CVTs (continuously variable transmission), which facilitates riders from continuous gear shifting pattern. CVTs are more efficient than manual transmissions, have high mechanical productivity, and emit fewer emissions. These systems have smooth power application that is extremely helpful in off-road conditions. CVTs power is transmitted without any jerks, specifically helpful in steep climbs,” says Praveen Kumar, a lead analyst at Technavio for research on automotive services.
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The new industry research report from Technavio analyzes some of the key drivers and trends responsible for the growth of this market and its sub-segments.
Growing use as a means of transport on uneven roads
The ability to move swiftly in mountainous and rocky terrains is driving the growth of these vehicles in the market. The ATVs are perfect for transportation in forests, agricultural lands, and mountains. These vehicles find applications in farming activities as it helps in reducing the labor and operational costs. The countries that are adopting ATVs for farming include Australia, US, Germany, and India. These vehicles are referred to as quad bikes with the ability to operate in different terrain conditions such as in mud, water, and rough areas.
Increasing demand for military and defense operations
The government of various countries are using ATVs for defense and police sector operations. These vehicles are best suited for mobility in the rocky mountainous regions, forest areas, and coastal regions. Such unique features of these vehicles help in various defense and military operations. The vendors are launching ATVs that offer customizations that can detect mines or monitor routes by providing real-time data. Countries like Germany, Russia, and India are slowly adopting and using ATVs for defense purpose.
Rise in off-road recreation activities
The growing interest in outdoor recreational activities in regions like North America and Europe is driving the market growth for these vehicles. Off-road activities like mountain racing and dirt racing are gaining immense popularity among sports enthusiasts. The growth of the US recreation transportation sector that consists of boats, marines, and off-road vehicles, will boost the demand for ATVs in the region. Also, the government of various countries is taking initiatives to promote tourism resulting in the increase in the sales of ATVs.
Other prominent vendors identified in this report are Kawasaki, Suzuki, Nebula Automotive, and Yamaha Motor.
This research report includes an in-depth analysis, market shares and sizes of the sub-segments and geography. It provides a comprehensive analysis of the key companies, including their market shares, business overview, and key financials. The market study also offers a detailed analysis of key drivers, challenges, and opportunities influencing this market.
A more detailed analysis is available in the Technavio report titled, ‘Global All-Terrain Vehicles Market 2016-2020’. Technavio also customizes reports by other regions and specific segments upon request.
Other related reports:
- Global Hybrid Electric Vehicle Market 2016-2020
- Global Amphibious Assault Vehicle Market 2016-2020
- Global Air-cushion Vehicle Market 2016-2020
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