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Market Study Report has recently added a report on All-terrain Vehicle Market which provides a succinct analysis of the market size, revenue forecast, and the regional landscape of this industry. The report also highlights the major challenges and current growth strategies adopted by the prominent companies that are a part of the dynamic competitive spectrum of this business sphere.
Global All-terrain Vehicle Market size to reach USD 4.66 billion by 2027 and is valued approximately at USD 3.92 Billion in 2020 and is anticipated to grow with a healthy growth rate of more than 2.5% over the forecast period 2021-2027.
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All-terrain vehicles are popular for their unique maneuverability and off-road capabilities that are used on the difficult terrains, where normal vehicles find difficulty in driving such as mountain roads. The global All-terrain Vehicle market is being driven by increased military expenditure by the respective countries as these vehicles are extensively operated by the defense forces in various operations. For instance, according to Statista, the global military spending has increased from USD 1855 Billion in 2018 to USD 1922 Billion in 2019. The other driving factor for the market is the expanding automobile industry. For instance, according to the International Trade Administration (ITA), China is the world's largest automotive market, with the Chinese government expecting 35 million vehicles to be produced by 2025. Furthermore, the growing defense operations including cross border conflicts, increasing agricultural mechanization, growing forest surveying and providing access to remote regions for development will provide new opportunities for the global All-terrain vehicle industry. However, irregular safety regulations and environment loss due to high carbon emissions may impede market growth over the forecast period of 2021-2027.
Major All-terrain Vehicle Market player included in this report are:
- Polaris Inc.
- American Honda Motor Co., Inc.
- Bombardier Recreational Products (BRP)
- Yamaha Motor Corporation
- Arctic Cat Inc.
- Textron
- Kawasaki Heavy Industries Ltd.
- Suzuki Motor Corporation
- CFMOTO, Inc.
- Deere & Company
The major regions such as Asia Pacific, North America, Europe, Latin America, and Rest of the World are considered for the regional analysis of global All-terrain Vehicle Market. North America is the leading region across the world in terms of market share due to large off road regions which promote tourism, developed automobile industry have stimulated Engine demand in the region. Whereas Europe is anticipated to exhibit the highest CAGR over the forecast period 2021-2027, due to the advanced economy and development of standardized safety requirements and test methods, in the region.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and Engine offerings of key players.
The detailed segments and sub-segment of the market are explained below:
By Engine Type:
- Below 400cc
- 400cc-800cc
- Above 800cc
By Application:
- Agriculture
- Sports
- Recreational
- Military and Defense
Global All-terrain Vehicle Market: regional analysis
Geographically, this report is segmented into several key countries, with market size, growth rate, import and export of All-terrain Vehicle market in these countries, which covering North America, U.S., Canada, Europe, UK, Germany, France, Spain, Italy, ROE, Asia Pacific, China, India, Japan, Australia, South Korea, RoAPAC, Latin America, Brazil, Mexico and Rest of the World.
Furthermore, years considered for the study are as follows:
- Historical year – 2018, 2019
- Base year – 2020
- Forecast period – 2021 to 2027
Frequently Asked Questions
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