Lucintel anticipates that Asia Pacific and Europe will be the fastest growing regions in the All-Terrain Vehicle market
According to a new market report published by Lucintel, the future of the global all-terrain vehicle market looks promising with opportunities in the sports and utility ATV market segment. The global all-terrain vehicle market is expected to reach an estimated $3.3 billion by 2022 and it is forecast to grow at a CAGR of 2.5% from 2017 to 2022.
The major drivers of growth for this market are increasing disposable income, rising recreational and off-roading activities, and growth in the emerging markets, particularly China, India.
In this market, sports ATV, utility ATV, and other ATV are some of the major segments by product type.On the basis of its comprehensive research, Lucintel forecasts that the utility ATV segments will show above average growth during the forecast period of 2017 to 2022 due to increasing use of utility all-terrain vehicles in farming and agriculture applications.
Within the global all-terrain vehicle industry, the utility ATV segment is expected to remain the largest market. Versatility and multifunctioning features are expected to drive all-terrain vehicle sales, which would spur growth for this segment over the forecast period.
North America is expected to remain the largest market due to increasing disposable income and increasing recreational and sports activities in this region.
APAC and Europe are expected to witness significant growth over the forecast period because of improving economy, presence of varied terrain with many rivers, lakes and waterways. The emerging markets of China and India are likely to spur growth in the APAC region.
For business expansion, the report suggests innovation and new product development to enhance the performance and comfort level in all-terrain vehicles.
Emerging trends which have a direct impact on the dynamics of the industry include enhanced user experience through next generation all-terrain vehicles and all-terrain vehicles with distinct features. Polaris Industries Inc., Honda Motor Co Ltd, Yamaha Motor Co Ltd, Arctic Cat Inc., and BRP Inc.
are the major all-terrain vehicle manufacturers in the global all-terrain vehicle market.
Lucintel, a leading global strategic consulting and market research firm, has analyzed the growth opportunities in the global all-terrain vehicle market by product, application, engine displacement, type, and region and has come up with a comprehensive research report entitled “Growth Opportunities in the Global All-Terrain Vehicle Market 2017-2022: Trends, Forecast, and Opportunity Analysis.” The Lucintel report serves as a springboard for growth strategy, as it provides a comprehensive data and analysis on trends, key drivers, and directions. The study includes a forecast for the global all-terrain vehicle market by product, application, engine displacement, type and region as follows:
By product (Volume (Thousand Units) and $ Million from 2011 to 2022):
- Sports ATV
- Utility ATV
- Other ATV
By application (Volume (Thousand Units) and $ Million from 2011 to 2022):
- Military and Defense
By engine displacement (Volume (Thousand Units) for 2016):
By type (Volume (Thousand Units) for 2016):
- Type I
- Type II
By region (Volume (Thousand Units) and $ Million from 2011 to 2022):
- North America
- Asia Pacific
- Rest of the World
This 205-page research report will enable you to make confident business decisions in this globally competitive marketplace.
For more information:Make an Inquiry about this report HERE!