Growing Demand for Recreational Use of All-Terrain Vehicles Likely to Drive Global All-Terrain Vehicle Market. The global All-Terrain vehicle market is expected to grow at a robust growth rate over the forecast period from 2018 to 2023, according to the latest research report published by Market Research Future (MRFR). The global All-Terrain vehicle market is mainly driven by the growing interest in recreational off-road riding and the growing commercial allure of All-Terrain vehicles.
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Leading players in the global All-Terrain vehicle market include BMW, KTM AG, CFMOTO Powersports Inc., Suzuki Motor Corporation, Kawasaki Heavy Industries Ltd., Arctic Cat, Bombardier Recreational Products, Yamaha Motor Company Limited, Polaris Industries Inc., and Honda Motor Company Ltd.
The growing demand for recreational riding of All-Terrain vehicles is likely to be a key driver for the global All-Terrain vehicle market. All-Terrain vehicles have four wheels but are controlled and steered by a steering system like that of a motorcycle. This makes them more easily controllable than bikes, while providing a more solid foundation in the form of four wheels rather than two. The seat of All-Terrain vehicles is also usually wider and more comfortable than usual bike seats, allowing the rider to ride the vehicle over rougher terrain. This has driven the demand from the global All-Terrain vehicle market over the last few years, as the demand for recreational off-road driving has grown in recent years as a result of increasing televisual exposure to the sport and other factors.
The growing commercial potential of televised competitions involving All-Terrain vehicles is also likely to be a key driver for the global All-Terrain vehicle market over the forecast period. Due to the increasing financial backing from sponsors and the increasing popularity of off-road riding, the demand for competitive All-Terrain vehicle riding is likely to increase over the forecast period, thus driving the demand from the global All-Terrain vehicles market.
Industry Updates:
In May 2019, All-Terrain vehicles became allowed on some public roads in Cowlitz County, Washington. All-Terrain vehicles aren’t always legal to run on public roads, with the absence of sophisticated instrumentation such as headlights, indicators, and mirrors being held up as the reasons for the same. However, an increasing number of jurisdictions in the U.S. are allowing the use of All-Terrain vehicles on public roads, which could become a key driver for the All-Terrain vehicles market in the country over the forecast period.
Segmentation:
The global All-Terrain vehicle market is segmented based on vehicle type, displacement, application, and region.
By vehicle type, the global All-Terrain vehicle market is segmented into sports utility vehicles, utility vehicles, recreational vehicles, sports vehicles, touring vehicles, and others. Sports utility vehicles are highly popular among consumers and are likely to dominate the global All-Terrain vehicle market over the forecast period due to their growing demand.
By displacement, the global All-Terrain vehicle market is segmented into low CC, mid CC, and high CC.
By application, the global All-Terrain vehicle market is segmented into sports, entertainment, agriculture, military, hunting, and others.
Regional Analysis:
The global All-Terrain vehicle market is segmented by region into North America, Europe, Asia Pacific, and rest of the world. North America dominates the global All-Terrain vehicle market and is likely to remain the leading revenue generator over the forecast period due to the growing popularity of All-Terrain vehicles among the consumer demographics in the region. The easy availability of wilderness tracks and trails in the U.S. and Canada has led to a growing demand from the All-Terrain vehicle market, as consumers in the region are keen to exploit the geographical suitability of the region.
Europe is also likely to remain a key player in the global All-Terrain vehicle market due to the growing popularity of trail riding and offroading in large parts of Europe.
Asia Pacific, the Middle East, Africa, and Latin America are likely to lag behind North America and Europe in the global All-Terrain vehicle market over the forecast period, either due to the absence of suitable geographical features, or the low disposable income of consumers in these regions.
Table Of Contents
1 Executive Summary
2 Scope Of The Report
2.1 Market Definition
2.2 Scope Of The Study
2.2.1 Definition
2.2.2 Research Objective
2.2.3 Assumptions
2.2.4 Limitations
2.3 Research Process
2.3.1 Primary Research
2.3.2 Secondary Research
2.4 Market Size Estimation
2.5 Forecast Model
3 Market Landscape
3.1 Porter’s Five Forces Analysis
3.1.1 Threat Of New Entrants
3.1.2 Bargaining Power Of Buyers
3.1.3 Threat Of Substitutes
3.1.4 Segment Rivalry
3.1.5 Bargaining Power Of Buyers
3.2 Value Chain/Supply Chain Analysis
4 Market Dynamics
4.1 Introduction
4.2 Market Drivers
4.3 Market Restraints
4.4 Market Opportunities
4.5 Market Trends
5 Global All-Terrain Vehicle Market, By Displacement
5.1 Introduction
5.2 Low CC
5.2.1 Market Estimates & Forecast, 2017-2023
5.2.2 Market Estimates & Forecast By Region, 2017-2023
5.3 Mid CC
5.3.1 Market Estimates & Forecast, 2017-2023
5.3.2 Market Estimates & Forecast By Region, 2017-2023
5.4 High CC
5.4.1 Market Estimates & Forecast, 2017-2023
5.4.2 Market Estimates & Forecast By Region, 2017-2023
6 Global All-Terrain Vehicle Market, By Application
6.1 Introduction
6.2 Sports
6.2.1 Market Estimates & Forecast, 2017-2023
6.2.2 Market Estimates & Forecast By Region, 2017-2023
6.3 Entertainment
6.3.1 Market Estimates & Forecast, 2017-2023
6.3.2 Market Estimates & Forecast By Region, 2017-2023
6.4 Agriculture
6.4.1 Market Estimates & Forecast, 2017-2023
6.4.2 Market Estimates & Forecast By Region, 2017-2023
6.5 Military
6.5.1 Market Estimates & Forecast, 2017-2023
6.5.2 Market Estimates & Forecast By Region, 2017-2023
6.6 Hunting
6.6.1 Market Estimates & Forecast, 2017-2023
6.6.2 Market Estimates & Forecast By Region, 2017-2023
6.7 Others
6.7.1 Market Estimates & Forecast, 2017-2023
6.7.2 Market Estimates & Forecast By Region, 2017-2023
7 Global All-Terrain Vehicle Market, By Vehicle Type
7.1 Introduction
7.2 Sports Utility
7.2.1 Market Estimates & Forecast, 2017-2023
7.2.2 Market Estimates & Forecast By Region, 2017-2023
7.3 Utility
7.3.1 Market Estimates & Forecast, 2017-2023
7.3.2 Market Estimates & Forecast By Region, 2017-2023
7.4 Recreational
7.4.1 Market Estimates & Forecast, 2017-2023
7.4.2 Market Estimates & Forecast By Region, 2017-2023
7.5 Sports
7.5.1 Market Estimates & Forecast, 2017-2023
7.5.2 Market Estimates & Forecast By Region, 2017-2023
7.6 Touring
7.6.1 Market Estimates & Forecast, 2017-2023
7.6.2 Market Estimates & Forecast By Region, 2017-2023
7.7 Others
7.7.1 Market Estimates & Forecast, 2017-2023
7.7.2 Market Estimates & Forecast By Region, 2017-2023
Continued…
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