Government Regulations to set the course for the Global ATV and UTV Market Growth

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Government Regulations to set the course for the
Global ATV and UTV Market Growth
Inkwood Research estimates that the Global ATV
and UTV Market is evaluated to project a CAGR of
5.54 in terms of revenue during the forecasting
years of 2022-2030. Browse 51 Market Data Tables
and 52 Figures spread over 157 Pages, along with
an in-depth TOC on the Global ATV and UTV Market
Forecast 2022-2030. VIEW TABLE OF CONTENT LINK
- https//www.inkwoodresearch.com/reports/atv-and-
utv- market/table-of-contents ATV (all-terrain
vehicle) is a vehicle capable of off-roading,
with applications in the military and
agriculture. It travels on low-pressure tires,
with handlebars for steering control. There has
been a growing demand for these vehicles, since
they allow access to remote areas, enabling
convenience in carrying equipment and
supplies. UTV (utility terrain vehicle), also
known as a utility task vehicle, is a four-wheel
drive off-road vehicle. They are steered using a
steering wheel. They have a lot of storage space,
and they are becoming increasingly popular within
non-agricultural communities.
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Government Rules Supporting ATVs and UTVs Drive
Market Growth ATVs UTVs were earlier banned on
roadways citing safety purposes. In recent times,
governments are passing new ordinances and bills
for allowing these vehicles on the road. Sauk
Country Board repealed the ATV and UTV vehicle
ordinance in October 2018, updating it with a new
version, which was earlier adopted in 2013.it
entails procedures to open these vehicle routes
in the countys highways. Additionally, the Board
of Commissioners passed an ordinance to allow
these vehicles on the roads of Shiawassee County
with some restrictions. Furthermore, the
Wisconsin Dells Common Council, approved an
ordinance in October 2020 to open all city
streets for UTV/ATV access. Such initiatives are
projected to propel market growth. Gasoline-Powere
d Major Fuel Type Several UTVs and ATVs use
gasoline as fuel, with a major share of them
using the mixture of gasoline and oil in specific
proportion for fast acceleration and engine
protection. The launch of a new range of
gasoline-powered UTV and ATV with improved
performance and added safety measures drives the
growth of these gasoline-powered
vehicles. Moreover, many manufacturers are
launching new gasoline-powered engines with
enhancements for better performance. For example,
Caterpillar, a machinery manufacturer and
developer, launched CUV85, a gasoline-powered
UTV, in November 2018. It has a 0.8L
three-cylinder gasoline engine. Asia-Pacific
Major and Fastest-Growing Region There is an
increasing demand for power sports recreational
activities in several countries of the region,
like India, Australia, and China. Also, ATVs
UTVs are being introduced in the military. Many
UTV AND ATV circuits are being incorporated in
the region and increasing expenditure on
recreational economies. This is seen especially
in emerging economies like India and China. Such
factors, and the launch of the new range of
vehicles, drive the Asia-Pacific market
growth. The high competitive rivalry in the
market is evaluated to be sustained throughout
the forecast period, with expansions and leading
manufacturers offering class products in the
off-road high-performance vehicle segment. Some
eminent market players include Yamaha Motor Co
Ltd, Kawasaki Heavy Industries Ltd, BRP Inc,
Honda Motor Company Ltd, Polaris Industries Inc,
etc. Request for Customization
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ort/ About Inkwood Research Inkwood Research
specializes in syndicated customized research
reports and consulting services. Market
intelligence studies with relevant fact-based
research are customized across industry verticals
such as technology, automotive, chemicals,
materials, healthcare, and energy, with an
objective
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environments. Our geographical analysis comprises
North South America, CEE, CIS, Middle East,
Europe, Asia, and Africa. Contact
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