The market report is a good mix of qualitative and quantitative data highlighting significant changes in the market, obstacles that businesses and competition have to overcome, as well as new possibilities and trends in the global Off-Road Vehicle market.
JERSEY CITYNew Jersey , January 30, 2023 /PRNewswire/ — Verified Market Research® recently published a report, “ATV MarketBy product type (Sport UTV, Utility ATV), by engine type (under 400cc, 400-800cc), by application (Sports & Recreation, Agricultural Industry), and by geography.
According to in-depth research by Verified Market Research®, the global ATV market size was valued at $1.26 billion in 2021 and is expected to reach $1.91 billion by 2030, growing at a CAGR of 4.75% from 2023 to 2030.
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Explore TOC in depth in “All Terrain Vehicle Market”
202 – Pages
126 – Tables
37 – Figures
Global ATV Market Overview
Due to the increased demand for adventure and sports as well as recreational activities, the ATV market is booming. Furthermore, the expansion of the market is driven by the increase in the disposable income of an individual. In addition, the increasing demand for all-terrain vehicles in the defense, military and agriculture sectors is putting upward pressure on the growth of the market. However, safety concerns resulting from rising accident rates are expected to stifle market expansion.
Market demand is being driven by the high horsepower and torque of ATVs. The ATV industry will grow as the number of desert events, ATV championships, adventure trails and parks increases. In addition, strong government backing for the development of off-road adventure trails is expected to fuel the growth of the market. The US Forest Service, for example, launched the Offroad Vehicle and Trip Management program to improve awareness of trail availability.
Increased investments to increase vehicle performance such as better performance, torque and handling will drive the industry forward. Electric drive trains can handle a wider range of terrain and provide greater stability, thanks to technological advances. Plus, manufacturers are progressively adding models with high-end stereos, GPS screens, and comfortable upholstery to smooth out the ride over rough terrain.
During the first six months of the COVID-19 pandemic, the ATV market took a hit. During the first half of last year, the global lockdown and travel restrictions imposed by government authorities resulted in a sharp drop in motorsports and leisure activities. However, since the previous quarter, the ATV industry has seen a rapid increase in unit shipments, due to a change in customer demand for sporting activities.
Verified Market Research® narrows down the available data using primary sources to validate the data and use it to compile a comprehensive market research study. The report contains a quantitative and qualitative estimate of the market elements that interest the client. The “Global Off-Road Vehicle Market” is primarily divided into sub-segments that can provide classified data on the latest market trends.
Key players. main players
The “Global ATV Market” study report will provide valuable insights with emphasis on the global market. The main market players are Polaris Inc., Honda Motor Company, Ltd., Textron Inc., kawasakiSuzuki Motor Corporation, Yamaha Motor Company Limited, KTM AG, BRP Inc., CFMoto, Linhai, Arctic Cat, Hisun, TGB, Kymco.
Based on the research, Verified Market Research® has segmented the global ATV market into product type, engine type, application, and geography.
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Off-Road Vehicle Market, By Product Type
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ATV Market, By Engine Type
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Off-Road Vehicle Market, By Application
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ATV Market, By Geography
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Major electric off-road vehicle companies make sidewalks a route of choice
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