All Terrain Vehicle Market Analysis Report 2024

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Your Catalyst To a Lucrative Business All
Terrain Vehicle Market - Industry Analysis, Size,
Growth, Trends and Forecast to 2024 - Hexa
Research
" The global all terrain vehicle (ATV) market was
valued around USD 6 billion in 2015. It is
expected to grow at a CAGR of 5 during 2016 to
2024 (forecast period)."
The global All Terrain Vehicle Market was
estimated at USD 6 billion in 2015. It will grow
at a CAGR of around 5 during the forecast period
(2016-2024). The market should exceed USD 9
billion by 2024. All terrain vehicles (ATVs) are
popularly known as quads, three-wheelers, quad
bikes, or quadricycles. ATVs are single-seated
open motor vehicles with either three or more
tires. These tires are specifically designed for
rough terrains. Quads are ridden over rugged
grounds, sand dunes, or paved unpaved roads.
The growing trend of recreational activities
such as off-roading and racing can also drive the
market till 2024. Demand for unique riding has
increasingly led recreational centers to add ATVs
to their amenities. The need for technically
advanced features is projected to raise product
costs, hampering the market. To reduce
fatalities injuries regulatory bodies, like
ASI (All-Terrains Vehicle Safety Institute) have
standardized the adoption of safety equipment.
Protective gears such as seatbelts, helmets,
goggles, and others are mandatory for quad
riders. Browse Details of Report _at_
https//www.hexaresearch.com/research-report/all-t
errain-vehicle-market
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Your Catalyst To a Lucrative Business Moreover,
the Consumer Product Safety Commission (CPSC)
has laid down rigid rules that prohibit children
under the age of 16 to ride ATVs. Its rules have
also limited the number of people riding on
single ATVs. The market is divided on the basis
of products, applications, and regions. The pr
oducts comprise sports utility, sports, utility,
and youth. Sports utility ATVs contributed around
28 shares in 2015. Sports utility and sports ATV
segments are expected to contribute significantly
to industry growth during the forecast period.
Youth ATVs stood over USD 750 million in
2015. Applications encompass agriculture,
forestry, entertainment, sports, military
defense, and others. Military defense accounted
for more than 9 shares in 2015. Agriculture is
projected to grow at a CAGR of over 5 till
2024. It often employs ATVs instead of tractors
and other heavy equipment. Regions in the all
terrain vehicle market consist of North America,
Europe, Latin America, Asia Pacific, and the
Middle East Africa (MEA). The U.S. and Canada
are estimated to dominate the global ATV market
in the forecast period. North America should
account for the biggest industry in the near
future. It is driven by the United States.
The U.S. captured over 50 of the worldwide
market in 2015. Asia Pacific market generated
about 12 of the total incomes in 2015. It should
exhibit the fastest growth from 2016 to 2024. Its
trend of power sports will augment regional
demand. The China industry held over 35 shares
in Asia Pacific. Economic adjustments in this
region can add industrial growth. Key
competitors in the worldwide all terrain vehicle
market are Arctic Cat, Honda, Polaris, and
Yamaha. Players often participate in mergers and
acquisitions to gain a competitive edge. Yamaha
was projected as the third largest vendor after
Honda and Polaris. It occupied more than 17
shares in 2014. Key companies invest heavily in
research developments for effective product
innovations and novel technologies. The constant
need to improve product performance
characteristics makes it possible for
manufacturers to stay competitive. Browse
Related Category Market Reports_at_ https//www.hexa
research.com/research -category/automotive-and-tra
nsportation-industry
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