Increasing recreational off-roading activities, growing commercialization of ATVs and rising demand for high displacement engine ATVs to drive global all terrain vehicle market through 2024

According to TechSci Research report, “Global All Terrain Vehicle Market By Product Type, By Engine Displacement, By Application Type, By Region, Competition, Forecast & Opportunities, 2014 - 2024”, the global all terrain vehicle market is projected to reach $ 6.2 billion by 2024. Growth in the market can be attributed to rising popularity of off-roading activities and growing usage in agriculture across regions like Europe and North America. Moreover, technological advancements such as Bluetooth connectivity, GPS systems, etc, along with growing popularity of ATVs among youth is further pushing demand for such vehicles across the globe. Additionally, increasing demand from various sectors like agriculture, defence sector, etc., is expected to boost the sales of all terrain vehicles during forecast period, globally.

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Among product types, utility all terrain vehicle accounted for the largest share in global all-terrain vehicle market in 2018, backed by their versatile usage, high load carrying capacity, easy maintenance and economical pricing as compared to sports ATVs. Over the coming years, major global ATV 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 is the major demand generator of ATVs, owing to increasing number of ATV sports and racing tournaments, increasing usage in agriculture especially in poultry farming and growing off-roading activities in the region. Moreover, increasing use of all terrain vehicles in material transport, hunting as well as in forest and desert safari, etc., is further likely to fuel their demand in North America.

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“Growing use of ATVs in several applications such as sports, entertainment and agriculture coupled with increasing number of international brands and decline in component manufacturing cost is expected to boost the sales of all terrain vehicles across the globe over the coming years. Moreover, increasing focus of manufacturers to develop eco-friendly and advanced ATVs is further expected to act as a catalyst for the industry growth over the course of next five years.” 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, 2014 - 2024” 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 analyses emerging trends along with essential drivers and key challenges faced by global all terrain vehicle market.

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