Market Size –
The all-terrain vehicle (atv) market size has grown strongly in recent years. It will grow from $3.56 billion in 2023 to $3.76 billion in 2024 at a compound annual growth rate (CAGR) of 5.7%. The growth in the historic period can be attributed to recreational off-roading popularity, agricultural and farming applications, military and defense usage, expansion of outdoor recreation.
The all-terrain vehicle (atv) market size is expected to see strong growth in the next few years. It will grow to $4.7 billion in 2028 at a compound annual growth rate (CAGR) of 5.7%. The growth in the forecast period can be attributed to increased urban and suburban recreational use, stringent emission standards, advanced safety features, growing demand in emerging markets. Major trends in the forecast period include electric atv models, autonomous atv technologies, lightweight and high-performance materials, connectivity and iot integration, customization and personalization options.
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Scope Of All Terrain Vehicle ATV Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Market Drivers –
Government support is expected to drive the growth of the all-terrain vehicle (ATV) market going forward. The governments of different countries are supporting the automotive sector to produce new solutions to better serve the industry. For example, in Thus, the government support will increase the demand for tourism industry thereby increasing the demand for all-terrain vehicle (ATV) market. For example, in July 2022, The U.S. Department of Energy (DOE) announced a $96 million funding opportunity to support decarbonizing the domestic transportation sector. The funding will focus on expanding electric vehicle (EV) charging accessibility, create cleaner non-road vehicles through electrification and the use of alternative fuels, and develop electric drive components and materials to maximize EV efficiency and affordability. Thus, the government support will propel the growth of the all-terrain vehicle (ATV) market.
Market Trends –
Product innovations have emerged as the key trend gaining popularity in the 5G chipset market. The major players in the market are developing innovative products for market growth. For instance, in June 2021, Samsung Electronics, a South Korea-based electronics company, developed 3GPP Rel.16 compliant chipsets, a range of next-generation 5G chipsets that deliver cutting-edge 5G technologies. The new chipsets consist of a second-generation 5G modem System-on-Chip (SoC), a third-generation mmWave Radio Frequency Integrated Circuit (RFIC) chip, and a Digital Front End (DFE)-RFIC integrated chip. These are designed to increase power efficiency, boost performance, and reduce the size of 5G solutions.
The all-terrain vehicle (atv) market covered in this report is segmented –
1) By Vehicle Type: Utility ATV, Sports ATV, Recreational, Other Vehicles
2) By Displacement: Low, Mid, High
3) By Application: Sports, Entertainment, Agriculture, Military, Hunting
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Regional Insights –
North America was the largest region in the all-terrain vehicle (ATV) market in 2023. 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, Africa
Key Companies –
Major companies operating in the all-terrain vehicle (atv) market report are Bombardier Recreational Products Inc., Suzuki Motors Corporation, Kawasaki Motors Corporation, HiSun Motors Corp., Yamaha Motor Co. Ltd., AISIN SEIKI Co. Ltd., Honda Motor Co. Ltd., Polaris Industries Inc., TEAM Industries Inc., Arctic Cat Inc., Deere & Company, KTM AG, Can-Am Off-Road, Textron Inc., CFMOTO Powersports Inc., Kwang Yang Motor Co. Ltd., Linhai Industrial Share Co. Ltd., TGB Group, Kandi Technologies Group, Kymco USA Inc., Massimo Motor Sports, ODES Industries LLC, Suzuki Motorcycle Corporation, Apollo io, BMS Motorsports, Maxtrade LLC, Hammerhead Off-Road Inc., Chongqing TaoTao Technology Co. Ltd., Trailmaster Inc., DRR USA Inc.
Table of Contents
1. Executive Summary
2. All Terrain Vehicle ATV Market Report Structure
3. All Terrain Vehicle ATV Market Trends And Strategies
4. All Terrain Vehicle ATV Market – Macro Economic Scenario
5. All Terrain Vehicle ATV Market Size And Growth
…..
27. All Terrain Vehicle ATV Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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