The thriving agriculture industry represents one of the key factors catalyzing the demand for ATVs worldwide. ATVs are extensively utilized in the agriculture industry for performing farm-related activities, such as weed control, field plowing, fence mending, animal handling and general transportation. The increasing recreational and sports activities around the world, along with the rising consumer expenditure on leisure and adventure activities, are driving the market growth further. Other than this, several manufacturers operating in the industry are incorporating advanced technologies in ATVs, such as GPS and Bluetooth, which is anticipated to propel the market growth in the upcoming years.
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Insights on Market Segmentation:
Market Breakup by Type:
- Utility ATV
- Sport ATV
- Recreational ATV
- Others
- Sports
- Entertainment
- Agriculture
- Military & Defence
- Others
Market Breakup by Engine Type:
- Below 400 cc
- 400 – 800 cc
- Above 800 cc
- Three Wheels
- Four Wheels
- >Four Wheels
- 2WD
- 4WD
- AWD
- Electric ATV
- Gasoline ATV
- One Seat
- Two or More Seats
- North America
- Asia Pacific
- Europe
- Latin America
- Middle East and Africa
Competitive Landscape:
The competitive landscape of the industry has also been examined with some of the key players being Arctic Cat Inc., Bombardier Recreational Products (BRP), CECTEK, CFMOTO US, Deere & Company (John Deere), HiSun Motors, Honda Motor Co. Ltd., Kawasaki Heavy Industries, KYMCO, Linhai, Polaris Industries Inc., Suzuki Motor Corporation, Taiwan Golden Bee, Yamaha Motor Corporation, etc.
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