The research study covers the present scenario and growth prospects of the global ATV market for 2017-2021. To calculate the market size, Technavio analysts consider the revenue generated from the implementation of software-defined storage solutions among enterprises worldwide.
Competition is increasing as more companies are increasing their distribution centers in countries such as Russia, South Korea, India, and Australia. Companies such as BRP and Arctic Cat are acquiring companies that provide aftermarket products such as accessories or parts that are important for rider’s safety to became aggregators. New start-ups and companies of other business segments are entering the market considering its potential. For instance, Acer, a consumer electronics manufacturer, has exhibited their new business into electric ATV (e-ATV), called as X Terran, at the eCarTech conference held in Munich in October 2015.
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 analysts highlight the following three factors that are contributing to the growth of the global ATV market:
- Lower maintenance cost of e-ATVs
- Increased adoption in commercial transport application on uneven roads
- Increasing adoption of recreational and off-road activities
Looking for more information on this market? Request a free sample report
Technavio’s sample reports are free of charge and contain multiple sections of the report including the market size and forecast, drivers, challenges, trends, and more.
Lower maintenance cost of e-ATVs
Electric ATVs (e-ATVs) have an electric powertrain that lowers environmental pollution and excessive vehicle sound. Since the electric powertrain already contains battery, controller, and motor/generator device to power the wheels, it eliminates the need for gas-powered engine and other mechanical components. Lesser the number of mechanical components, lower the maintenance cost. Also, the cost of electrically charging vehicles is less than the conventional fuel cost. Therefore, with the use of e-ATVs, the total maintenance cost of ATVs reduces significantly. This will push more customers to adopt these vehicles
Increased adoption in commercial transport application on uneven roads
Because of the stability and swiftness that ATVs provide in mountainous, forested, and rocky areas, they are becoming the preferred mode of transportation on uneven roads. ATVs are known for operating in a variety of conditions such as mud, water, rough areas, and other surfaces. This gives an advantage of operation to ATVs over other vehicles.
Amey Vikram, a lead automotive manufacturing research analyst at Technavio, says, “Countries like Australia, Germany, and France are adopting ATVs for farming purposes, which earlier required workforce. This leads to a reduction in their overall costs. Although ATVs can be comfortable for agricultural applications, countries such as India have not yet adopted the same. However, with more companies, including BRP and Polaris Industries entering the market, the sales of utility ATVs are expected to grow.”
Increasing adoption of recreational and off-road activities
Increase in outdoor recreational activities such as off-roading, racing events, and experience zones are driving the ATV market in North America and Europe. There is a rise in enthusiasts for activities like mountain racing and dirt racing due to which these activities are gaining more attraction. Every year, snowmobile associations, clubs, and organizations in North America and Canada conduct sports events that increase the sales of ATVs in the region.
Changing lifestyles, adoption of off-roading recreational activities by youth and middle-aged individuals, and improving tourism developments are the major factors driving the ATV market in emerging countries. Increased emphasis on safety through training sessions and safety accessories have decreased the risk involved in riding ATVs thus encouraging the rider to adopt these vehicles.
- Honda Motors
- Polaris Industries
- Yamaha Motor
Browse Related Reports:
- Global Automotive 3D Printing Market 2017-2021
- Global Autonomous Bus Market 2017-2021
- Global Agricultural Tractor Market 2017-2021
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio’s report library consists of more than 10,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
If you are interested in more information, please contact our media team at email@example.com.