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All-Terrain Vehicle (ATV) Market is Estimated to Reach USD 3.1 Billion by 2032, Grow at a CAGR 8.7% between 2022-2032
Published : April 2022

According to a market research report, published by Sheer Analytics and Insights, the all-terrain vehicle market was valued at $1.2 billion dollars in 2021 and it is expected to reach $3.1 billion dollars at the CAGR of 8.7% during the forecast period between 2022 and 2032. A small vehicle attached with three or more thick and large tires mainly used for a raw surface is known as an all-terrain vehicle. A rider can sit on this vehicle and operate with low-pressure wheels. However, extra wheels can be attached to the all-terrain vehicle for more stability at a different speed. This type of vehicle can also be used for sports riding and transportation works. Moreover, this is required in different activities such as farming, surveying, forestry, and other applications. A person will have to go through training before handling an all-terrain vehicle. Over the last few years, the all-terrain vehicle has gained popularity in some regions. In present days, demand for all-terrain vehicles has been growing in the global market. This major factor is influencing global industries to produce new innovative all-terrain vehicles to fulfill the rising demand. 

Off-road racing events have been growing in some of the European countries. This has fueled the demand for the all-terrain vehicle market across the region. Therefore, several key companies are organizing some off-road racing sports events and presenting sponsorships to gain new customers to increase their product visibility in the global market. For example, the Desert Series Pro ATV tournament was organized in 2019. This event further involved ATV enthusiasts and other off-road vehicles. In addition, investments from sponsors are expected to help the market to make huge growth through the forecast period. Over the last few years, economic growth in India and China is increasing. Therefore, the travel and tourism industry is getting support from the market growth which has led to a significant rise in recreational activities, hence driving the demand for all-terrain vehicles.

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North America is expected to hold the maximum market share during the forecast period from 2022 to 2032. The region has dominated the all-terrain vehicle market in 2021. However, the region (North America) has vast and diverse landscapes, including mountain ranges and forests. Therefore, this can be the major reason for riders to use the all-terrain vehicle as a sports car. Two-wheeler all-terrain vehicle is expected to be the largest growing market over the forecast period. In present days, demand for three-wheeler all-terrain vehicles is also helping the manufacturing companies to make huge growth in the global market. Therefore, industries are producing all-terrain vehicles by the need for heavy-duty workload with sufficient fuel energy and for other multiple purposes. In this case, gasoline would be the most prominent global market segment for all-terrain vehicles. 

According to the study, key players operating in this all-terrain vehicle market are American Honda Motor Co. Ltd.Polaris Inc., Suzuki Motor CorporationYamaha CorporationHISUN Motor CorporationBombardier Recreational ProductsArctic Cat Inc., among others. These key players are focusing on launching new and innovative products, enhancing market presence, geographical expansion of their companies to stay ahead in the global market. For example, in 2020, Polaris Inc. made announcements to launch new ATVs, named Sportsman 570 and Sportsman 450 in the market to fulfill the demand for ATV enthusiasts.  

Global All-Terrain Vehicle Market Has Been Segmented into:

Global All-Terrain Vehicle Market – By Engine Type

  • Below 400cc
  • 400-800cc
  • Above 800cc

 Global All-Terrain Vehicle Market - By Application Type

  • Agriculture
  • Entertainment
  • Military
  • Sports and Others

 Global All-Terrain Vehicle - By vehicle Type

  • Sports ATV
  • Utility ATV
  • Military or Defense Purpose
  • Recreational and others

Global All-Terrain Vehicle Market – By Product

  • Three-Wheeler
  • Four-Wheeler
  • Six-Wheeler
  • Eight-Wheeler

Global All-Terrain Vehicle Market – By Regional Outlook

  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • U.K.
    • Russia
    • France
    • Italy
    • Germany
    • RoE
  • Asia Pacific
    • South Korea
    • Japan
    • China
    • India
    • Australia
    • RoAPAC
  • Latin America, Middle East and Africa (LAMEA)

Click full report at https://www.sheeranalyticsandinsights.com/market-report-research/all-terrain-vehicle-market-21

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