ATV’s Market to Surpass $9 Billion by 2023
Increasing
recreational off-roading activities, growing commercialization of ATVs and
rising demand for high displacement engine ATVs to drive the global all terrain
vehicle market through 2023
According to TechSci Research report, “Global
All Terrain Vehicle Market By Product Type, By Engine Displacement, By
Application Type, By Region, Competition Forecast & Opportunities, 2013 –
2023”, the global all terrain vehicle
market is projected to reach $ 9.3 billion by 2023. Growth in the market can be
attributed to increasing trend towards off-roading activities and rising per
capita income across the globe. Technological advancements, growing popularity
of ATVs among youth, surging number of all terrain vehicle sports tournaments,
and increasing use of ATVs in defense sector are also expected to boost the
sales of all terrain vehicles in the global market during forecast period.
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Pages and an in-depth TOC on "Global All Terrain Vehicle Market"
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In terms of product type, utility all terrain vehicle accounted
for the largest share in the global all terrain vehicle market in 2017, backed
by their high load carrying capacity, easy maintenance and economical pricing as
compared to sports ATVs. Over the coming years, major global all terrain
vehicle manufacturers are anticipated to come up with a wide range of advanced
and specifically designed all terrain vehicles to meet varying customer
requirements. North America dominates the global all terrain vehicle market,
owing to increasing number of ATV sports and racing
tournaments, and growing off-roading
activities in the region.
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“Growing use of ATVs in several applications such as sports,
entertainment and agriculture, increasing number of international brands, and reduction
in component manufacturing cost is expected to boost the sales of ATVs in the
global market over the coming years. Moreover, increasing focus of
manufacturers to develop eco-friendly and advanced ATVs is expected to act as a
catalyst for the industry growth.”, said Mr. Karan Chechi, Research Director
with TechSci Research, a research based global management consulting firm.
“Global
All Terrain Vehicle Market By Product Type, By Engine Displacement, By
Application Type, By Region, Competition Forecast & Opportunities, 2013 –
2023” has evaluated the future growth potential of all terrain vehicles
market, globally, and provides statistics and information on market size,
shares and trends. The report will suffice in providing the intending clients
with cutting-edge market intelligence and help them in taking sound investment
decisions. Besides, the report also identifies and analyzes emerging trends
along with essential drivers and key challenges faced by the industry.
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