Pune, India - The global all-terrain vehicles market analyst says one of latest trends in the market is increase in ATV experience zones. Terrain vehicle manufacturing companies are increasing the number of riders by creating experience zones.
In North America, ATV manufacturers such as Arctic Cat, Bombardier Recreational Products, Yamaha Motor and Honda Motor formed an association to develop terrain vehicles market by organizing sports events. Polaris is developing Polaris experience zones (PEZs) in countries like America, Germany and India to increase its customer base. Polaris recently opened a new experience zone in Mumbai, India, which took their overall experience zone count to 54 in India.
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This analyst forecast the global all-terrain vehicles market to grow at a CAGR of 8.19 percent during the period 2016-2020. According to the all-terrain vehicles market report, one of the primary drivers in the market is growing use as a means of transport on uneven roads. The all-terrains vehicles market is experiencing increased demand because of its ability to move quickly in mountainous and rocky terrains. American consumers are using ATVs in forests, agricultural lands and mountains. Australia, U.S., Germany, and India are adopting ATVs for farming, which needs less manpower and decreases the overall cost of farming. ATVs, also known as quad bikes with the ability to operate in different terrain conditions such as in mud, water and rough areas.
The Americas was the highest revenue-generating region in all-terrain vehicles market and will continue to dominate the market over the next four years. The augmented demand for utility vehicles, especially in countries like the U.S. and Canada, is attributed to the increasing adoption of these vehicles by the defense sector because of the ability of UTVs for quick patrolling in combat operations. UTVs are also used by farmers and hunters for farming, hunting and in carrying small construction equipment in forests.
The utility terrain vehicle segment dominated the market and will continue to lead the all-terrain vehicles market over the coming years. UTVs work seamlessly on rough and rocky terrain and are crucial for defense and military operations. UTVs quick mobility and cargo carrying capacity in hard surfaces is extremely essential for border security combats and anti-terrorist operations in coastal areas.
The following companies are the key players in the global all-terrain vehicles market: Polaris, Bombardier Recreational Products, Arctic Cat, Yamaha Motor and Honda Motor. Other prominent vendors in the market are: Kawasaki, Suzuki, Nebula Automotive and Yamaha Motor.
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Global All-Terrain Vehicles Market 2016-2020, has been prepared based on an in-depth market analysis with inputs from industry experts. This report covers the present scenario and the growth prospects of the global all-terrain vehicles market for 2016-2020. To calculate the market size, the report provides the performance and market dominance of each of the vendors in terms of experience, product portfolio, geographical presence, financial condition and R&D.
