Asia Pacific All-Terrain Vehicle Market to be Dominated by Utility ATV During the Forecast Period

The Asia-Pacific All-Terrain Vehicle Market is being driven by factors such as growing use of these vehicles in farming and rising fun ride activities among the tourists in various Asia Pacific countries.

According to TechSci Research report, “Asia Pacific All-Terrain Vehicle Market– By Country, Competition Forecast & Opportunities, 2018-2028F,” the Asia Pacific all-terrain vehicle market is expected to grow during the forecast period due to the rising demand among young people for the quad ride or for the desert ride. Also, the demand is increasing in the agriculture sector and in the defense sector for various uses.

An all-terrain vehicle is a motorized vehicle that is composed of three or four wheels and in general has a large, soft tire tread size and a relatively high center of gravity. It is typically used for off-roading activities and features handlebars like those of a motorbike allowing one operator to traverse the vehicle's body. Some ATVs can reach speeds of up to 50 mph and have a maximum weight of up to 600 pounds. All-terrain vehicles have many unique characteristics that allow them to be used in a wide range of challenging conditions where other larger and less mobile vehicles can’t, making them extremely useful in a wide variety of work environments. Sport all-terrain vehicles are lightweight quadricycles ranging from 250cc up to 700cc, with a suspension designed to withstand jumps, bumps, and turns. They can be customized with thousands of performance-enhancing accessories. Utility all-terrain vehicles, on the other hand, are heavier, with less suspension travel and a big motor, as well as accessories designed for specific work, farming, or hunting. Although they are more typically manufactured for work purposes, they are still suitable for recreational use. Most all-terrain vehicles are designed for single-person use, although some are also available for two-person use, especially on 6-wheelers. all-terrain vehicles are widely used in the following fields border patrol and security construction emergency medical response search and rescue law enforcement land management and surveying military operations mineral and oil exploration ranching and farming small-scale forestry activities skidding logging and crane loading wildland fire control.

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An all-terrain vehicle (ATV) is a vehicle that can be used by one or more people. There are two types of all-terrain vehicles, one-seater and two-seater. The two-seater segment is expected to develop at the fastest rate of compound annual growth (CAGR) over the next few years. The growth of the two-seater market is due to factors such as the versatility and accessibility offered by a two-seater vehicle. Consumers are increasingly opting for two-seater vehicles because they can be used for recreational activities and outdoor events. On the other hand, two-seater devices can also be used by families and groups. Parents can ride with their children, and friends can go off-road together as a unit. The two-seater type of ATV is used for recreational riding as well as for cargo transportation and towing, as well as general transportation. It is characterized by its smaller size, lightweight weight, and ability to go fast and extreme riding. Manufacturers are continuously adapting their models and designs to keep up with the changing buying habits of consumers and are now offering multiple uses.

The Asia-Pacific region is anticipated to be the third largest market for All-terrain Vehicles globally, after Europe. This is largely due to the high demand for all-terrain vehicles in countries such as China and Australia, as well as in Japan and India. Utility ATVs are the most sought-after type of all-terrain vehicles in most Asia Pacific countries, as these countries have large agricultural populations. These all-terrain vehicles are commonly used for crop inspections, farm work and livestock management, and are suitable for agricultural relevance due to their versatility and maneuverability in a variety of terrains.

Key market players in the Asia Pacific All-Terrain Vehicle Market include:

•  PolarPolaris Industries
• Arctic Cat Inc
• Honda Powersport
• Kawasaki Heavy Industries
• Suzuki Motor Corporation
• Bombardier Recreational Products Inc
• Yamaha Motor Corporation
• CFMotor
• HISUN Motors Corporation
• Kwang Yang Motor Co, Ltdtor Co, Ltd
  
   

The Asia Pacific All-Terrain Vehicles Market is segmented based on product type, propulsion, application, country, and competitional landscape. Based on product type the market is further fragmented into Utility ATV, Sports ATV, Youth ATV. Based on propulsion the market is further divided into ICE and Electric. Based on application the market is divided into entertainment, sports, and others. On the country basis the market is further divided into China, India, Japan, Australia, Indonesia, New Zealand, South Korea, Vietnam, Thailand, Malaysia.

In the product type Utility ATV has the highest market share among the other vehicles, as Utility Terrain Vehicle (UTV) market is primarily driven by its capability to traverse rugged terrain, which is a key factor in defense and military operations. Furthermore, its capacity to transport large amounts of cargo and its ability to move quickly on hard surfaces are essential for counterterrorism and border security operations in coastal regions. However, the high cost of UTVs, due to the incorporation of advanced technology in other vehicles, as well as the use of displays and integrated communications systems, is a hindrance to the growth of the market. Additionally, the increasing popularity of UTVs among hunters and farmers, as well as an increase in the development of infrastructure, are likely to provide further growth opportunities for UTV manufacturers.

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“The growing demand for all-terrain vehicles in the Asia-Pacific countries is due to increasing use of ATV in farming for inspection and repair of irrigation systems and to fertilize and apply chemicals. The rise in demand for the all-terrain vehicles in the overseas is majorly fulfilled by China, as most of the all-terrain vehicles are being manufactured in China and then exported to different countries. By seeing the rise in demand in all kinds of all-terrain vehicles many original vehicle manufacturers of all-terrain vehicles have started to invest in the research and development sector to increase the efficiency and product range in the all-terrain vehicles. Also these companies have started to introduce electric all-terrain vehicles for the buyers as the demand for  electric vehicles has increased in recent time. All these factors act as driver for the market, which will help in growth of the Asia-Pacific all-terrain vehicle Market in the coming years”, said Mr. Karan Chechi, Research Director with TechSci Research, a research-based global management consulting firm.  

“Asia Pacific All-Terrain Vehicle Market By Product Type (Utility ATV, Sports ATV, Youth ATV, and Others), By Propulsion (ICE Vs Electric), By Application (Entertainment, Sports, and Others) By Region, Competition Forecast & Opportunities, 2018-2028F,” has evaluated the future growth potential Asia Pacific All-Terrain Vehicle Market and provides statistics and information on market structure, size, share, and future growth. The report is intended to provide cutting-edge market intelligence and help decision-makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges and opportunities present in the all-terrain vehicle market in Asia Pacific.

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