All-Terrain Vehicle (ATV) Global Market to Reach $4.21 Billion by 2026 at a CAGR of 5.43%
DUBLIN, Dec. 6, 2022 /PRNewswire/ -- The "All-Terrain Vehicle (ATV) Global Market Report 2022" report has been added to ResearchAndMarkets.com's offering.
The global all-terrain vehicle (ATV) market is expected to grow from $3.20 billion in 2021 to $3.41 billion in 2022 at a compound annual growth rate (CAGR) of 6.41%. The all-terrain vehicle (ATV) market is expected to reach $4.21 billion in 2026 at a CAGR of 5.43%.
The main types of ATVs include utility ATVs, sports ATVs, recreational, and others. The utility ATV refers to ATVs with powerful engines used to navigate a variety of terrains. These are being used for heavy-work purposes, such as hauling cargo or ploughing fields or snow. Utility ATVs comfortably fit two people and have better ground clearance. The different displacements offered in ATVs include low, mid, and high and they are used for sports, entertainment, agriculture, military, and hunting applications.
North America was the largest region in the all-terrain vehicle (ATV) market in 2021. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the all-terrain vehicle (ATV) market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The increasing expenditure on off-trailing activities and outdoor sports activities is expected to propel the growth of the all-terrain vehicle (ATV) market. The popularity of adventurous activities and outdoor sports activities is growing among the adult population, as they are looking out for entertainment from their high-paced working lifestyle. For instance, according to the Bureau of Economic Analysis (BEA), in November 2020, the outdoor recreation economy accounted for 1.8% of GDP, which is $374.3 billion of the current-dollar gross domestic product (GDP) of the United States. Outdoor recreation value-added as a share of state GDP ranged from 4.3% in Montana to 1.2% in New York at the state level. The share was 0.8% in the Columbia district. Therefore, the increasing expenditure on off-trailing activities and outdoor sports activities are expected to propel the growth of the all-terrain vehicle (ATV) market.
New product innovations are a key trend gaining popularity in the all-terrain vehicle (ATV) market. Companies are emphasizing new product development to meet the fast-growing demand from end customers, and increase market share and global presence. For instance, in 2021, Yamaha Motor Corp. announced the launch of Grizzly EPS XT-R for utility purposes with a 686 CC liquid-cooled SOHC 4-stroke engine and 3-way differential locking. Also, in September 2020, Suzuki Motors Corp. launched the KingQuad ATV models for the 2021 lineup. The 2021 KingQuad 750AXi Power Steering SE plus for sports utility is equipped with independent suspension, an advanced electric power steering system, and high towing capacity to enable more comfortable operation.
Scope
Markets Covered:
1) By Vehicle Type: Utility ATV; Sports ATV; Recreational; Others
2) By Displacement: Low; Mid; High
3) By Application: Sports; Entertainment; Agriculture; Military; Hunting
Key Topics Covered:
1. Executive Summary
2. All-Terrain Vehicle (ATV) Market Characteristics
3. All-Terrain Vehicle (ATV) Market Trends And Strategies
4. Impact Of COVID-19 On All-Terrain Vehicle (ATV)
5. All-Terrain Vehicle (ATV) Market Size And Growth
6. All-Terrain Vehicle (ATV) Market Segmentation
7. All-Terrain Vehicle (ATV) Market Regional And Country Analysis
8. Asia-Pacific All-Terrain Vehicle (ATV) Market
9. China All-Terrain Vehicle (ATV) Market
10. India All-Terrain Vehicle (ATV) Market
11. Japan All-Terrain Vehicle (ATV) Market
12. Australia All-Terrain Vehicle (ATV) Market
13. Indonesia All-Terrain Vehicle (ATV) Market
14. South Korea All-Terrain Vehicle (ATV) Market
15. Western Europe All-Terrain Vehicle (ATV) Market
16. UK All-Terrain Vehicle (ATV) Market
17. Germany All-Terrain Vehicle (ATV) Market
18. France All-Terrain Vehicle (ATV) Market
19. Eastern Europe All-Terrain Vehicle (ATV) Market
20. Russia All-Terrain Vehicle (ATV) Market
21. North America All-Terrain Vehicle (ATV) Market
22. USA All-Terrain Vehicle (ATV) Market
23. South America All-Terrain Vehicle (ATV) Market
24. Brazil All-Terrain Vehicle (ATV) Market
25. Middle East All-Terrain Vehicle (ATV) Market
26. Africa All-Terrain Vehicle (ATV) Market
27. All-Terrain Vehicle (ATV) Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The All-Terrain Vehicle (ATV) Market
29. All-Terrain Vehicle (ATV) Market Future Outlook and Potential Analysis
30. Appendix
Companies Mentioned
- Bombardier Recreational Products (BRP)
- Suzuki Motors Corporation
- Kawasaki Motors Corporation
- HiSun Motors
- Yamaha Motor Co. Ltd.
For more information about this report visit https://www.researchandmarkets.com/r/hg0os5
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SOURCE Research and Markets
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