Published Date: 12-May-22
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According to a new report, published by KBV research, The Global All-terrain Vehicle Market size is expected to reach $3.8 billion by 2027, rising at a market growth of 4.2% CAGR during the forecast period.
The Military & Defense market is expected to witness highest CAGR of 5.1% during (2021 - 2027). For strategic missions, ATVs provide maneuverability and mobility. Off-road transport, utility, electric ATVs, and combat for military uses are all provided by Original Equipment Manufacturers (OEMs) working on tactical contracts with military organizations. Polaris, for example, offers a variety of ATV models for military use, including the Sportsman MV850, DAGOR A1, and Mrzr D4.
The 400cc-800cc market dominated the Global All-terrain Vehicle Market by Engine Type in 2020, thereby, achieving a market value of $1.8 billion by 2027. The rising popularity of these vehicles for utility purposes is contributing to the segmental growth. To serve a broader spectrum of consumers and uncover new application areas, leading manufacturers in the market are launching 400cc-800cc ATVs. Suzuki Motor of America, Inc., for example, offered the Quad 750 XP and 500 XP in the 400-800cc category with the greater towing capacity to suit customer demand.
North America is the fastest growing region in the Global All-terrain Vehicle Market by Region in 2020, and would continue to be a dominant market till 2027; thereby, achieving a market value of $1.5 billion by 2027. The Europe market is estimated to grow at a CAGR of 4% during (2021 - 2027). Additionally, The Asia Pacific market would witness a CAGR of 5.1% during (2021 - 2027).
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of Textron, Inc., Bombardier Recreational Products, Inc., Zhejiang CFMoto Power Co., Ltd., Polaris, Inc., Deere & Company, Kwang Yang Motor Company Ltd., Suzuki Motor Corporation, Honda Motor Co. Ltd., Yamaha Motor Co., Ltd., and Kawasaki Heavy Industries, Ltd.
By Engine Type
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