The global sports ATV equipment market was valued at USD 2 billion in 2016 and is expected to surpass USD 3 billion by 2021, says Technavio.
Technavio has announced its latest market research report on the global sports ATV equipment market, under its outdoor gear portfolio. This market analysis discusses the major drivers and key emerging trends and offers an analysis of key vendors like Arctic Cat, BRP, Honda Motor Company, Polaris Industries, and Yamaha Motor Corporation.
According to Brijesh Kumar Choubey, a lead analyst for outdoor gear research at Technavio, “The regulations mandating the usage of protective gear to drive growth in the global sports ATV equipment market. Most adventure sports activities are administered by safety standards that are set by different governments, and national health and public health organizations to prevent injuries.
Such standards also necessitate the use of protective gear for specific sports, particularly for off-road adventure activities, to reduce the risk of injury. The European ATV Safety Institute has provided certain set standards for the use of protective gear among ATV riders. It has also been mandated for all ATV users to take an EASI Rider Training Course as recommended by the major manufacturers of the market.
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Advent of eco-friendly ATVs
The rising concern about preserving the environment has led sporting goods manufacturers across the globe adopt ways that make the product environmentally more responsible and eco-friendly in nature. ATVs are normally not known for being very environment-friendly in nature, while most of the vehicle’s emissions are harmful to nature. With an increasing number of cars and trucks turning toward diesel, ATVs are also seen moving in the same direction. Kubota, Arctic Cat, and Kawasaki are moving toward the manufacturing of diesel quads.
Increase in ATV experience zones
Terrain vehicle manufacturing companies are aiming at increasing riders by creating experience zones. In North America, ATV manufacturers like Arctic Cat, BRP, Yamaha Motor Corporation, Kawasaki, KYMCO, Polaris Industries, Suzuki, and Honda Motor Company formed an association, called the SVIA (Specialty Vehicle Institute of America) to develop terrain vehicles market by organizing different sports events. Polaris Industries is developing PEZs (Polaris experience zones) in countries like the US, Germany, and India to increase customer base.
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This research report includes an in-depth analysis and market shares and sizes of the sub-segments and geography. An analysis of the key companies, including their market shares, business overview, key financials, etc. is provided in this study. This market study also provides a detailed analysis of key drivers, challenges, and opportunities influencing this market.
A more detailed analysis is available in the Technavio market research report titled, ‘Global Sports ATV Equipment Market 2017-2021‘. Technavio also customizes reports by other regions and specific segments upon request.
Other related reports:
- Global Sports Bicycle Market 2017-2021
- Global Surface Water Sports Equipment Market 2017-2021
- Global In-the-water Sports Equipment Market 2017-2021
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