Will Asia Pacific Provide Momentum to Dwindling All-terrain Vehicle (ATVs) Sales?
Market players are pinning hopes that ‘COVID-fatigue’ will influence people to focus on outdoor activities
ROCKVILLE, MD / ACCESSWIRE / March 4, 2021 / As per a study by Fact MR, the global all-terrain vehicle market is expected to register moderate growth in 2021. Demand is likely to pick up in APAC, where some economies are headed for a recovery. However, the long-term outlook will depend on the shape of recovery in the US and EU4, the largest markets for all-terrain vehicles.
The report has forecast the all-terrain vehicle market to exhibit over 2% of CAGR between 2019 and 2027.
“Following the outbreak of COVID-19, there is increasing focus on manufacturing low-emission vehicles in coherence with existing environmental standards. Through this they intend to strengthen their regional footprint,” says a Fact.MR analyst.
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Key Takeaways
- Four-wheel drive segment expected to cover 40% of market share.
- Europe all-terrain vehicle sales pursuant to resurgence in automotive and agriculture
- Asia Pacific ATV sales will grow steadily during the forecast period
- Surge in applications within military and agricultural sectors expected
Prominent Drivers
- Enhanced safety features and high power to spur growth in the four-wheel segment, inducing sales of all-terrain vehicle.
- Rising demand for off-road vehicle is helping ATVs gain traction across various industries.
- Reduced maintenance cost and recent advancement in technology to stimulate the long term demand of ATVs
Key Restraints
- Higher fuel consumption as compared to the other vehicles likely to hamper the sales
- Higher risk of accidents might negatively impact sales
Discover more about the All-terrain vehicle market with 115 figures and 139 data tables, along with the table of contents. You will also find detailed market segmentation on https://www.factmr.com/report/4439/all-terrain-vehicle-market
Competitive Landscape
Yamaha Motor Company Ltd., Honda Motor Company Ltd., Polaris Industries, Textron Inc., BRP (Can-am), Kawasaki Motors Corp., Suzuki Motor Corporation, KTM AG, Nebula Automotive Pvt. Ltd., and Arctic Cat are some of the key players profiled by Fact.MR. Key players are adopting the strategies of new product launch and mergers to generate the revenue in the industry.
For instance, in 2020, Polaris Industries- leading UTV and ATV provider to the US military collaborated with Agile and launched a new light weight vehicle MRZR Alpha for government and defense organizations.
Also, in 2019, Textron Inc. announced the launch of a new electric utility vehicle powered by lithium technology- Hauler 800 ELiTe.
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More Valuable Insights on All-terrain vehicle Market
Fact.MR, in its new offering, presents an in-depth analysis on the global all-terrain vehicle market. The study divulges essential insights on the All-terrain vehicle market on the basis of drive type (2WD, 4WD, and AWD), fuel type (gasoline, below 400 cc, 400-800 cc, more than 800 cc, and electric), seating capacity (one seat and two seat), age group (youth and adults), number of wheels (four wheels, and >four wheels), and key regions (North America, Latin America, Europe, Asia Pacific, and Middle East & Africa (MEA)).
Key Questions Covered in the Report
- Which is the lucrative segment for the all-terrain vehicle market?
- What will be the market outlook for all-terrain vehicle in the upcoming years?
- What will be the key drivers for the all-terrain vehicle market?
- What will be the challenges that key players would face due to Covid-19?
- Which material will account for lucrative sales of all-terrain vehicle?
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