Global ATV Coilover Shock Market to Grow at 16% CAGR Through 2017-2021: Technavio

Technavio has published a new report on the global ATV coilover shock market from 2017-2021. (Graphic: Business Wire)

???pagination.previous??? ???pagination.next???

LONDON--()--According to the latest market study released by Technavio, the global all-terrain vehicle (ATV) coilover shock market is expected to reach 273.70 thousand units during the forecast period, according to their latest report.

The research study covers the present scenario and growth prospects of the ‘Global ATV Coilover Shock Market for 2017-2021’. The report further segments the market based on application (ATVs and UTVs), and geography (the Americas, APAC, and EMEA).

The automotive coilover shock market is expected to grow at a rapid rate through the forecasted period. There is high demand for ATVs and UTVs in the military and defense operations, which use off-road vehicles for the transportation of military equipment in tough terrains. This has triggered the growth of the ATV coilover shock market. The usage of ATVs is growing with the increase in demand for off-road vehicles for transportation, agriculture, and sports activities.

This report is available at a USD 1,000 discount for a limited time only: View market snapshot before purchasing

Buy 1 Technavio report and get the second for 50% off. Buy 2 Technavio reports and get the third for free.

Technavio automotive analysts highlight the three key factors that are contributing to the growth of the global ATV coilover shock market:

  • Rise in the participation of outdoor recreational activities
  • Growing preference for ATVs and UTVs for defense and military applications
  • Growing adoption of ATVs for the transport in hostile terrains

Rise in the participation of outdoor recreational activities

The increasing outdoor recreational activities like mountain racing and dirt racing are increasing in regions like North America and Europe. This is because of increase in the number of sports enthusiasts. Associations such as Canadian Council of Snowmobile Organizations are conducting sports events every year, and this, in turn, is increasing the sale of ATVs.

According to Siddharth Jaiswal, a lead automotive components, “ If sports enthusiasts are provided with the required training and safety accessories, then it will reduce the safety-related concerns. And this will, in turn, drive the market for the ATV coilover shock market. Recreational activities increase mainly during the winter and fall. This shows that the OEMs must focus on expanding their customer base by providing terrain vehicle sports packages according to the seasons, which will increase the sales of ATVs.”

Growing preference for ATVs and UTVs for defense and military applications

Defense and military operations require vehicles which can be used in rocky terrains, forest areas, and coastal regions. This increases the demand for ATV market in the military-dominated regions. In countries like the US, 55% of the total terrain vehicle sales are for defense and military purposes. The US army started using ATVs for defense purposes in 2004 by placing an order for 1,200 ATVs, which was a five-year agreement.

“Technological advancements have made the ATVs to detect land mines and the ability to monitor routes using real-time data. India has started using ATVs for defense purposes. Other countries like Iran and Iraq have also started the use of ATVs during combat,” adds Siddharth.

Growing adoption of ATVs for the transport in hostile terrains

ATV vehicles are useful for transportation purpose in rocky areas. Countries such as Australia, the US, Germany, and India are adopting ATVs for farming so that manpower can be reduced, which will reduce the overall cost. In places like Africa, people find it difficult to travel in the forests. From this perspective, the emerging countries are potential markets for ATV coilover shock manufacturers.

Top vendors:

  • Bosch Rexroth
  • Ingenia Motion Control
  • Robotics & Drives
  • YASKAWA Electric Corporation

Browse Related Reports:

Become a Technavio Insights member and access all three of these reports for a fraction of their original cost. As a Technavio Insights member, you will have immediate access to new reports as they’re published in addition to all 6,000+ existing reports covering segments like automotive components, automotive electronics, and automotive manufacturing. This subscription nets you `thousands in savings while staying connected to Technavio’s constant transforming research library, helping you make informed business decisions more efficiently.

About Technavio

Technavio is a leading global technology research and advisory company. The company develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries. Technavio has about 300 analysts globally who specialize in customized consulting and business research assignments across the latest leading edge technologies.

Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.

If you are interested in more information, please contact our media team at media@technavio.com.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 630 333 9501
UK: +44 208 123 1770
www.technavio.com

Release Summary

According to the latest market study released by Technavio, the global all-terrain vehicle (ATV) coilover shock market is expected to reach 273.70 thousand units during the forecast period.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 630 333 9501
UK: +44 208 123 1770
www.technavio.com