According to The Business Research Company’s All-Terrain Vehicle (ATV), 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.
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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.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.
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The all-terrain vehicle (atv) market covered in this report is segmented –
1) All-Terrain Vehicle (ATV) Market By Vehicle Type: Utility ATV, Sports ATV, Recreational, Other Vehicles
2) All-Terrain Vehicle (ATV) Market By Displacement: Low, Mid, High
3) All-Terrain Vehicle (ATV) Market By Application: Sports, Entertainment, Agriculture, Military, Hunting
Top Major Players
Bombardier Recreational Products Inc.
Suzuki Motors Corporation
Kawasaki Motors Corporation
HiSun Motors Corp.
Yamaha Motor
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.
The all-terrain vehicle (atv) market report table of contents includes:
1. Executive Summary
2. All-Terrain Vehicle (ATV) Market Characteristics
3. All-Terrain Vehicle (ATV) Market Trends And Strategies
4. All-Terrain Vehicle (ATV) Market – Macro Economic Scenario
5. Global All-Terrain Vehicle (ATV) Market Size and Growth
……
31. Global All-Terrain Vehicle (ATV) Market Competitive Benchmarking
32. Global All-Terrain Vehicle (ATV) Market Competitive Dashboard
33. Key Mergers And Acquisitions In The All-Terrain Vehicle (ATV) Market
34. All-Terrain Vehicle (ATV) Market Future Outlook and Potential Analysis
35. Appendix
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