India All Terrain Vehicle Market to Grow with a steady pace until FY2027
Increasing use of all
terrain vehicles in various sectors drives the India All Terrain Vehicle Market
in the forecast years.
According to TechSci report
on, “India All Terrain Vehicle Market By Product Type
(Utility ATV, Sports ATV & Youth ATV) By Engine Displacement (Low, Medium
& High) By Application (Entertainment, Sports, Agriculture & Others) By
Region (South, West, North, East), Competition Forecast & Opportunities, FY2027”, India All Terrain
Vehicle market
has shown promising growth in historical years until FY2020 and is expected to
continue its growth in upcoming forecast years FY2022 to FY2027. Tourism sector
in India is growing at a rapid rate, the demand for all terrain vehicle is also
increasing because of booming tourism thus driving the growth of the market in
the forecast years. Moreover, the government is taking initiatives for
providing advancement in technology and thereby enabling usage of maneuverable
all terrain vehicle thus supporting the growth of the market.
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The report on India
All Terrain Vehicle market is segmented by product type, engine
displacement, application, and regional distribution. Based on application the
market is further segmented into entertainment, sports, agriculture, and
others. All terrain vehicles have uses in almost all sectors. Defence,
entertainment, sports, agriculture, infrastructure construction, heavy-load
transportation, among others. Agriculture sector dominates as an application
segment for the all terrain vehicle in India market. Uses of ATVs in
agriculture and forestry is prevalent thus driving the growth of the market.
Indian economy
was widely affected by the pandemic that set foot in early FY2020. India All
Terrain Vehicle market was not untouched, either. While observing the lockdown,
all the sectors were shut down. No construction was going on, and no sports or
off-road activities were allowed. This slowed down the market a bit in the
first quarter, but after observing a setback, All Terrain Vehicle market is
expected to revisit its growth and show a promising future. Furthermore, increasing
population and infrastructure requirements also drive the All Terrain Vehicle
market growth.
Some of the major players in the India
all terrain vehicle market is Polaris Industries, Phoenix Moto. Corp., Powerland
Agro Tractor Vehicles Pvt ltd, Nebula Automotive Pvt Ltd., Honda Motor Company,
Ltd., Suzuki Motorcycle India Private Limited, India Yamaha Motor, India
Kawasaki Motors Private Limited, Kwang Yang Motor Co, Ltd, (KYMCO), Gapuchee
ATV India, among others. The companies are focusing on extensive research and
developments activities in order to stay competitive in the market. Other
competitive strategies include formation of alliances and partnerships.
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“India All Terrain Vehicle market is expected to witness significant
growth during the forecast period. Moreover, improvisations in the processing
and production technologies will influence Indian All Terrain Vehicle market
toward growth. New investors may explore these production technologies and
processes to influence their businesses. Urbanization is still prevailing in
the country and requirement of better infrastructure is always a necessity thus
making India all terrain vehicle market a promising sector for future growth,”
said Mr. Karan Chechi, Research Director with TechSci Research, a research
based global management consulting firm.
“India All Terrain
Vehicle Market By Product Type (Utility ATV, Sports ATV & Youth ATV) By
Engine Displacement (Low, Medium & High) By Application (Entertainment,
Sports, Agriculture & Others) By Region (South, West, North, East),
Competition Forecast & Opportunities, FY2027” has evaluated the future growth potential of India All
Terrain Vehicle market and provides statistics & information on market
size, structure and future market growth. The report intends 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 in India All
Terrain Vehicle market.
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