New Jersey Headlines

All Terrain Vehicle Market was Stood at USD 6 Billion in 2015 and is Likely to Surpass USD 9 Billion by 2024 | Hexa Research

 Breaking News
  • No posts were found

All Terrain Vehicle Market was Stood at USD 6 Billion in 2015 and is Likely to Surpass USD 9 Billion by 2024 | Hexa Research

April 16
19:02 2019
All Terrain Vehicle Market was Stood at USD 6 Billion in 2015 and is Likely to Surpass USD 9 Billion by 2024 | Hexa Research

Fact-based market research, penetrating industry insights and validated forecasts to help you make better decisions for a stronger future
Research Report on All Terrain Vehicle Market Analysis, Market Size, Application Analysis, Regional Outlook, Competitive Strategies, and Forecasts, 2016 To 2024

16 April 2019, The global All Terrain Vehicle (ATV) Market was estimated at USD 6 billion in 2015. It will grow at a CAGR of around 5% during the forecast period (2016-2024). The market should exceed USD 9 billion by 2024. All terrain vehicles (ATVs) are popularly known as quads, three-wheelers, quad bikes, or quadricycles. 

ATVs are single-seated open motor vehicles with either three or more tires. These tires are specifically designed for rough terrains. Quads are ridden over rugged grounds, sand dunes, or paved & unpaved roads. The growing trend of recreational activities; such as off-roading and racing can also drive the market till 2024. 

Browse Details of Report @ https://www.hexaresearch.com/research-report/all-terrain-vehicle-market 

Demand for unique riding has increasingly led recreational centers to add ATVs to their amenities. The need for technically advanced features is projected to raise product costs, hampering the market. 

To reduce fatalities & injuries; regulatory bodies, like ASI (All-Terrains Vehicle Safety Institute) have standardized the adoption of safety equipment. Protective gears; such as seatbelts, helmets, goggles, and others are mandatory for quad riders. 

Moreover, the ‘Consumer Product Safety Commission’ (CPSC) has laid down rigid rules that prohibit children under the age of 16 to ride ATVs. Its rules have also limited the number of people riding on single ATVs. 

The market is divided on the basis of products, applications, and regions. The products comprise sports utility, sports, utility, and youth. Sports utility ATVs contributed around 28% shares in 2015. Sports utility and sports ATV segments are expected to contribute significantly to industry growth during the forecast period. Youth ATVs stood over USD 750 million in 2015. 

Applications encompass agriculture, forestry, entertainment, sports, military & defense, and others. Military & defense accounted for more than 9% shares in 2015. Agriculture is projected to grow at a CAGR of over 5% till 2024. It often employs ATVs instead of tractors and other heavy equipment. 

Regions in the all terrain vehicle market consist of North America, Europe, Latin America, Asia Pacific, and the Middle East & Africa (MEA). The U.S. and Canada are estimated to dominate the global ATV market in the forecast period. 

North America should account for the biggest industry in the near future. It is driven by the United States. The U.S. captured over 50% of the worldwide market in 2015. 

Asia Pacific market generated about 12% of the total incomes in 2015. It should exhibit the fastest growth from 2016 to 2024. Its trend of ‘power sports’ will augment regional demand. The China industry held over 35% shares in Asia Pacific. Economic adjustments in this region can add industrial growth. 

Key competitors in the worldwide all-terrain vehicle market are Arctic Cat, Honda, Polaris, and Yamaha. Players often participate in mergers and acquisitions to gain a competitive edge. Yamaha was projected as the third largest vendor after Honda and Polaris. It occupied more than 17% shares in 2014. 

Key companies invest heavily in research & developments for effective product innovations and novel technologies. The constant need to improve product performance & characteristics makes it possible for manufacturers to stay competitive. 

Browse Related Category Reports @ 

Recreational Vehicles (RVs) MarketThe global recreational vehicles market was estimated at USD 54.63 billion in 2017 and is anticipated to reach USD 75.38 billion in 2025, growing at a CAGR of 4.11% from 2017 to 2025 

Global Flight Simulator MarketThe global flight simulator market is likely to witness rapid growth in the years to come owing to rising demand for new commercial and military pilots 

About Us:

Hexa Research is a market research and consulting organization, offering industry reports, custom research and consulting services to a host of key industries across the globe. We offer comprehensive business intelligence in the form of industry reports which help our clients obtain clarity about their business environment and enable them to undertake strategic growth initiatives. 

More Information Visit @ www.hexaresearch.com

Media Contact
Company Name: Hexa Research
Contact Person: Ryan Shaw
Email: Send Email
Phone: +1-408-342-1548, Toll Free:+1-800-489-3075
Address:Felton Office Plaza, 6265 Highway 9
City: Felton
State: California
Country: United States
Website: www.hexaresearch.com/research-report/all-terrain-vehicle-market

Categories