Global Atv and Utv Market | Growth, Trends, Share

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The Global ATV and UTV Market to Advance at 6.65
of CAGR by 2028
Triton Market Research presents the Global ATV
and UTV Market segmented by Fuel Type (Diesel-
Powered, Solar-Powered, Gasoline-Powered,
Electric-Powered), Vehicle Type (ATV, UTV),
Displacement (400-800 (CC), 400 (CC), 800
(CC)), End-user (Recreational, Military
Defense, Sports, Agriculture Utility, Other
End-users), and by Geography (North America,
Middle East and Africa, Europe, Latin America,
Asia-Pacific). It further discusses the Market
Summary, Industry Outlook, Key Insights, Impact
of COVID-19, Porters Five Forces Analysis, Key
Buying Impact Analysis, Market Attractiveness
Matrix, Vendor Scorecard, Key Market Strategies,
Drivers, Challenges, Opportunities, Competitive
Landscape, Methodology Scope, Global Market
Size, Forecasts Analysis (2022-2028). Based on
Tritons research, the global ATV and UTV market
is estimated to grow at a CAGR of 6.65 over the
forecast period 2022-2028.
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free-sample ATVs are installed with
low-pressure tires and handles used primarily in
military and sports activities. Whereas utility
terrain vehicles are useful to carry out general
tasks, including farming activities. There has
been a surge in ATV and UTV vehicles accidents.
As a result, several market players are launching
more safe quad bikes integrated with advanced
features, such as GPS. Yamaha, for instance,
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announced the launch of its off-road recreational
sport ATV with GPS capabilities. Thus, the
increase in safer ATVs and UTVs production are
expected to create new opportunities for the
studied market. Conversely, driving bans in
wildlife locations and high maintenance prices
are negatively impacting the ATV and UTV
market. Globally, the Asia-Pacific is expected to
become the fastest-growing region in the ATV and
UTV market. In China, the growing adoption of
these quad bikes is mainly in the defense sector.
In this regard, several leading defense companies
are launching new versions of ATVs for defense
forces. Moreover, with the domestic market
development, the demand for ATVs is estimated to
grow tremendously over the forecasted period.
Hence, these factors indicate the robust growth
of the ATV and UTV market in the region. The
major firms in the ATV and UTV market are Yamaha
Motor Co Ltd, Textron Inc, Kwang Yang Motor Co
Ltd, Hisun, Honda Motor Company, Kawasaki Heavy
Industries, BRP Inc, Polaris Industries Inc,
Deere and Company, Kubota Corporation, CFmoto,
and Suzuki Motors Corporation. There is a high
investment required to set up manufacturing
facilities and distribution networks, which
restricts the entry of new players. Besides, some
governments have imposed high import costs on
ATVs and UTVs. Additionally, many companies aim
to expand globally, offering cost-effective
vehicles. These factors indicated that the threat
of new entrants would be low, while competition
among existing players is estimated to be
high. Contact Us sales_at_tritonmarketresearch.com
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