The global ATV market is anticipated to grow at a significant CAGR of 7.2% during the forecast period (2022-2028). As defined by the American National Standards Institute, an ATV also known as a light utility vehicle, a quad bike, or simply a quad, is a vehicle that runs on low-pressure tires and has a seat that the operator straddles, and also handlebars for steering control. The great power and torque of ATV are fueling market demand. As the number of desert events, ATV championships, adventure trails, and parks increases, so will the ATV business. Furthermore, the industry is predicted to rise due to substantial government support for the construction of off-road vehicle adventure routes. For instance, the US Forest Service created the Travel Management and Off-Highway Vehicle initiative to raise trail availability knowledge. Due to such government initiatives and subsidies, the US is likely to lead the market during the projection period. The US Army, for instance, has expressed interest in procuring ATV with attributes such as quick transit and the ability to transport nine fully armed soldiers, agility, and a top speed of 55 mph.
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The market players are also contributing significantly to the growth of the market by the adoption of various strategies including mergers and acquisitions, geographical expansion, partnerships, collaborations, and new product launches, in order to stay competitive in the market. For instance-
- In March 2021, Yamaha unveiled the all-new Yamaha Kodiak 450 ATV 2021, which features a 421cc liquid-cooled SOHC 4-stroke engine with all-wheel engine braking and Yamaha’s H, L, N, R, and P transmission system.
- In March 2021, BRP plans to invest $300 million over the next five years to electrify its existing product lines. BRP is in the process of creating its own Rotax modular electric power pack technology that will be used across all ATV model lines.
- In January 2021, the Kawasaki KFX 90 youth ATV debuted, which is equipped with safety measures. Parental supervision, the throttle restriction, and the continuously variable transmission (CVT) collar all allow riders to control their progress. The KFX 90 has an electric starter, and the keyed ignition prevents unauthorized riding.
Market Coverage
- The market number available for – 2021-2028
- Base year- 2021
- Forecast period- 2022-2028
- Segment Covered-
- By Fuel Type
- By Application
- Regions Covered-
- North America
- Europe
- Asia-Pacific
- Rest of the World
- Competitive Landscape-Polaris Industries Inc., American Honda Motor Co. Inc., Yamaha Motor Co. Ltd., Bombardier Recreational Products Inc., and Suzuki Motors Corp., among others.
Key questions addressed by the report
- What is the market growth rate?
- Which segment and region dominate the market in the base year?
- Which segment and region will project the fastest growth in the market?
- How has COVID-19 impacted the market?
- Deviation from the pre-COVID-19 forecast
- Most affected region and segment
- Who is the leader in the market?
- How players are addressing challenges to sustain growth?
- Where is the investment opportunity?
Global ATV Market Report by Segment
By Fuel Type
- Gasoline-powered
- Diesel-powered
- Electric-powered
By Application
- Utility
- Sports
- Recreation
- Military
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