According to Market Research Future (MRFR), the Global All-Terrain Vehicle (ATV) Market is estimated to exhibit a CAGR of 5.38% from 2018 to 2025 (forecast period). The report presents the strengths, opportunities, threats, and potential business risks and offers a holistic overview of the global all terrain vehicle market share climate with the influence of COVID-19. An all-terrain vehicle (ATV) relates to a motorized tri-or quadricycle bike and buggy designed for off-road travel and activities. The vehicle comprises handlebars and low-pressure tires with deep-threaded structures that help drive over muddy, rocky, wetland, and dune topologies. Compared to other utility vehicles (UTVs), ATVs offer excellent off-road capabilities and can accommodate heavy equipment over long distances and narrow access points. They can also be customized for high-performance riding, enabling them to find broad applications across different industries, including sports, entertainment, agriculture, military, and defense.
The popularity of ATV as an outdoor recreation activity has increased dramatically in recent years. The increasing demand from the tourism sector can be seen as a significant driver for the global market for ATV engines. The development of high-performance engines also creates opportunities for market players. A large range of ATVs has emerged in recent years, which has led OEMs to continue to focus on developing engine technology. The global market for ATV engines was estimated at USD 1.755.6 million, with up to 80 HP engines making a significant contribution to market revenue.
The global all-terrain vehicle (ATV) engine market has been segmented into types, application, and power.
By type, the global all-terrain vehicle (ATV) engine market has been segmented into 0-300cc, 300-500cc, 500-800cc, 800-1000cc, and 1000cc and above.
By application, the global all-terrain vehicle (ATV) engine market has been segmented into OEM and aftermarket.
By power, the global all-terrain vehicle (ATV) engine market has been segmented into Up to 80 HP and above 80 HP.
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By region, the global all-terrain vehicle (ATV) engine market has been segmented into North America, Europe, Asia Pacific, The Middle East Africa (MEA), and Latin America.
North America is the biggest market. The U.S. and Canada are the leading countries in which the adoption of ATVs has increased dramatically due to the developed economy, higher disposable income of the residents, upcoming electric vehicle projects, and government regulations of ATVs. The region has a range of off-road parks and trails, including River Valley Motocross, Rocky Ridge Ranch, and Northwest Off-Highway Vehicle Park. These off-road parks and trails have become tourist attractions and have had a positive effect on the economic development of local communities.
The European region is expected to see increased demand for ATVs over the forecast period due to the growing demand for off-road vehicles in agricultural as well as military and defense applications. The development of standardized safety requirements and test methods, combined with updated regulations on emissions from non-road mobile machinery, is expected to fuel market demand.
The Asia Pacific is creating sustainable growth opportunities for all-terrain vehicle manufacturers due to the wide market, growing military expenditure and the availability of low-cost manufacturing.
All-Terrain Vehicle Market companies are- Honda Motor Co., Ltd., Massimo Motor Sports, LLC, BRP-Rotax GmbH Co KG, CFMOTO, Taiwan Golden Bee Co., Kawasaki Heavy Industries, Ltd., Textron Inc., Suzuki motor corporation, Yamaha Motor Co., Ltd. and Polaris Industries, Inc. are key players of the global ATV engine market.
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