Jan 07, 2020
United States Accounts for Half of Global Demand of All-terrain Vehicles, as Power Sports Sees an Upward Growth Trend, Opines Fact.MR
by Team Fact.MR
Fact.MR reveals in its newest report that the global all-terrain vehicle market will witness a fourfold growth to reach a valuation of US$ 3.9 Bn by the end of 2027. The all-terrain vehicle market is currently in its infancy, but the need for mechanization in difficult terrain is boosting its demand. Robust growth has occurred over the past two years, with consistent demand from individuals, hospitality sector, adventure parks, and off-road enthusiasts. Efforts to improve the technology used in all-terrain vehicles such as power steering, electronic fuel injection and four-wheel independent suspension are expected to fuel the demand for all-terrain vehicles during the forecast period. Moreover, the implementation of annual motorsport competitions have given the tourism industry a significant boost, benefiting the all-terrain vehicle market.
Key Takeaways of the All-Terrain Vehicle Market
- North America, with the highest production and sales volume of all-terrain vehicles is expected to garner a market share of fifty percent during the forecast period
- Countries like the U.S. and Canada house a large number of manufacturers of efficient utility terrain vehicles with sophisticated features
- The U.S. Forest Service has launched the Program for Travel Management & Off-Highway Vehicles (OHV) to raise awareness of trail quality which is boosting the global all-terrain vehicle market
- Europe is projected to be the main growth pocket in the global market, driven by the growing use of all-terrain vehicles in the industrial and agricultural sectors
- During the forecast period, the growing risk of accidents caused by the use of flipping or rolling of all-terrain vehicles is expected to limit the demand for all-terrain vehicles
“The growing popularity of outdoor entertainment activities such as off-road sports, increasing numbers of trails and adventure parks, and high demand for all-terrain vehicles for military and agricultural applications are key factors accrediting recognition to the global all-terrain vehicle market” according to a Fact.MR analyst
Mergers and Acquisitions Characterize a Consolidated Market
The global all-terrain vehicle market is consolidated in nature. In order to gain larger shares, players are actively participating in acquisitions and mergers. In September 2018, Polaris and WSI jointly announced the execution of a merger agreement to broaden its product portfolio. Innovative technologies such as Independent Rear Suspension (IRS) are being implemented by industry players to provide superior stability and function in complex terrain. Adoption of systems to smooth rough terrain rides will further increase the size of the all-terrain vehicle market over the forecast period.
Find More Valuable Insights on the All-terrain vehicle Market
Fact.MR, in its new offering, provides an unbiased analysis of the global market for All-terrain vehicle, with historical data on demand (2013-2018) and expected projections for the period 2019-2027. The report discloses compelling insights into the demand for All-terrain vehicle based on drive type (2WD, 4WD and AWD), fuel type (Gasoline (Below 400 cc), Gasoline (400 - 800 cc), Gasoline (More than 800 cc) and Electric), seating capacity (One Seat and Two Seat), application (Sports, Entertainment, Agriculture, Military & Defense, Others (Hunting & Forestry)), age group (Youth and Adult) and number of wheels (Four Wheels and > Four Wheels) across several regions.
>>> To get more insights on All-terrain vehicle market, visit- https://www.factmr.com/report/4439/all-terrain-vehicle-market
About the Automotive Division at Fact.MR
Expert analysis, actionable insights, and strategic recommendations of the highly seasoned automotive team at Fact.MR helps clients from across the globe with their unique business intelligence needs. With a repertoire of over thousand reports and 1 million plus data points, the team has analyzed automotive industry across 50+ countries for over a decade. The team provides unmatched end-to-end research and consulting services. Reach out to explore how we can help.