According to a new market report published by Lucintel, the future of the global all-terrain vehicle market looks promising with opportunities in the sports and utility ATV market segment.
The global all-terrain vehicle market is expected to reach an estimated $3.3 billion by 2022 and it is forecast to grow at a CAGR of 2.5 percent from 2017 to 2022. The major drivers of growth for this market are increasing disposable income, rising recreational and off-roading activities and growth in the emerging markets, particularly China and India.
In this market, sports ATVs, utility ATVs and other ATVs are some of the major segments by product type. On the basis of its comprehensive research, Lucintel forecasts that the utility ATV segments will show above average growth during the forecast period of 2017 to 2022 due to increasing use of utility all-terrain vehicles in farming and agriculture applications.
Within the global all-terrain vehicle industry, the utility ATV segment is expected to remain the largest market. Versatility and multi-functioning features are expected to drive all-terrain vehicle sales, which would spur growth for this segment over the forecast period.
North America is expected to remain the largest market due to increasing disposable income and increasing recreational and sports activities in this region.
APAC and Europe are expected to witness significant growth over the forecast period because of improving economy, presence of varied terrain with many rivers, lakes and waterways. The emerging markets of China and India are likely to spur growth in the APAC region.
For business expansion, the report suggests innovation and new product development to enhance the performance and comfort level in all-terrain vehicles.
Emerging trends which have a direct impact on the dynamics of the industry include enhanced user experience through next generation all-terrain vehicles and all-terrain vehicles with distinct features. Polaris Industries Inc., Honda Motor Co Ltd, Yamaha Motor Co Ltd, Arctic Cat Inc., and BRP Inc. are the major all-terrain vehicle manufacturers in the global all-terrain vehicle market.
Lucintel, a leading global strategic consulting and market research firm, has analyzed the growth opportunities in the global all-terrain vehicle market by product, application, engine displacement, type, and region and has come up with a comprehensive research report entitled “Growth Opportunities in the Global All-Terrain Vehicle Market 2017-2022: Trends, Forecast, and Opportunity Analysis.” The Lucintel report serves as a springboard for growth strategy, as it provides a comprehensive data and analysis on trends, key drivers, and directions. The study includes a forecast for the global all-terrain vehicle market by product, application, engine displacement, type and region as follows:
By product (Volume (Thousand Units) and $ Million from 2011 to 2022):
• Sports ATV
• Utility ATV
• Other ATV
By application (Volume (Thousand Units) and $ Million from 2011 to 2022):
• Sports
• Entertainment
• Agriculture
• Military and Defense
• Forestry
• Others
By engine displacement (Volume (Thousand Units) for 2016):
• Low
• Medium
• High
By type (Volume (Thousand Units) for 2016):
• Type I
• Type II
By region (Volume (Thousand Units) and $ Million from 2011 to 2022):
• North America
• Europe
• Asia Pacific
• Rest of the World
This 205-page research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel (972) 636-5056 or helpdesk@lucintel.com.
This report answers following 11 key questions:
Q. 1. What are some of the most promising, high-growth opportunities in the global all-terrain vehicle market by product (sports ATV, utility ATV and other ATV), application (sports, entertainment, agriculture, military and defense, forestry, and others), by type (type I, type II), by engine displacement (low, medium, and high) and by region (North America, Europe, Asia Pacific, and the Rest of the World)?
Q. 2. Which segments will grow at a faster pace and why?
Q. 3. Which region will grow at a faster pace and why?
Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
Q.5. What are the business risks and competitive threats in this market?
Q.6. What are the emerging trends in this market and reasons behind them?
Q.7. What are some of the changing demands of customers in the market?
Q.8. What are the new developments in the market? Which companies are leading these developments?
Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material / product substitution?
Q.11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?
