The global all-terrain vehicle market study presents an all in all compilation of the historical, current and future outlook of the market as well as the factors responsible for such a growth. With SWOT analysis, the business study highlights the strengths, weaknesses, opportunities and threats of each all-terrain vehicle market player in a comprehensive way. Further, the all-terrain vehicle market trends report emphasizes the adoption pattern of the all-terrain vehicle across various industries.
The all-terrain vehicle market report highlights the following players:
- Nebula Automotive Pvt. Ltd.
- Suzuki Motor Corporation
- Kawasaki Motors Corp.
- Yamaha Motor Company Limited
- Others
The all-terrain vehicle market report examines the operating pattern of each player – new product launches, partnerships, and acquisitions – has been examined in detail. The global all-terrain vehicles market is projected to grow at a sluggish CAGR of 2 per cent till the end of the forecast period in 2027. This growth will account for USD 3.9 billion in this period. This growth will be attributed to the increased use of all-terrain vehicles for both professional and recreational applications.
Four Wheel Drive Options to Gain Traction Owing to Higher Safety
The rapid increase in outdoor sports activity is expected to result in a higher demand for all-terrain vehicles owing to terrain navigation capabilities. Advances in terms of user friendliness and technology is also increasing the scope of the industry, which stimulates market growth, with the increase in global tourism.
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According to estimates by analysts all-terrain vehicles with 4 wheel drives will become the segment with the fastest growth in terms of all-terrain vehicles and will gain control of ~ 40 per cent of overall market share by the end of the forecast period. 4-wheel drive all-terrain vehicles are gaining traction especially for military and agriculture applications, even as manufacturers push efforts to better productivity, design and durability.
Manufacturers Push for Partnerships to Penetrate Asia Pacific
The global all-terrain vehicle market is largely characterized with a wide spread of small and medium sized operators which compete with major multinationals. Major firms in the industry are seeking to make equipment purchases from other businesses with the aim of developing new products. Further strategic acquisitions are also expected to become key to business strategies across the industry to bolster market potential.
Of the various regions, the all-terrain vehicle market of North America, is one of the most advanced in the world, the growth of this regional market is mostly associated with sales in the United States and Canada. In addition, the United States has also set up a new free trade deal with Canada and Mexico, which is expected to influence and aid growth of all-terrain vehicle sales in the region. As the global all-terrain vehicles market is largely consolidated, automotive giants have become major influencers in the industry.
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Manufacturers are increasingly pushing for advancements in tech such as electronic fuel injection and power steering, while also pushing for partnerships with regional players in the Asia Pacific, many of which are located in India for cheaper production of parts, while maintaining quality standards to boost profitability.
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