Ocean View, DE -- (SBWIRE) -- 06/16/2020 -- The ATV market share is projected to witness a sustained rise owing to the rules & regulations that govern & define standards in the way ATVs could be used on a regular basis. Regulatory authorities such as the California-based non-profit organization, the All-Terrain Vehicle Safety Institute (ASI) while defining proper ATV usage regulations, is also involved in promoting ATV-approved products & accessories such as seatbelts, footrests, helmets & kill-switches.
As regulations define the number of permitted passengers per vehicle and also ensure a mandated 16+ age-restriction on vehicle usage to ensure fewer injuries & fatalities, supported by an annual report published in 2017 by The U.S. Consumer Product Safety Commission (CPSC), the ATV market is attracting in more customers that were previously averse to participating in recreational activities involving ATVs.
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Increasing recreational spending in conjunction with proliferating off-roading events are driving the ATV market share over the projected timeframe. The ability of these vehicles to drive through diversified terrains and applications in agriculture, sports, military, and forestry among others are further boosting the ATV market. The availability of a range of ATVs across diversified price range catering to a wide customer base are providing a positive outlook for the industry expansion.
Industry players are investing in R&D to develop advanced all-terrain vehicles for enhancing the driving experience and improve their market share. Moreover, the advent of autonomous driving technologies is positively influencing the ATV market growth. For instance, in 2018, Honda showcased its 3E-D18 autonomous all-terrain vehicle. This vehicle is equipped with airless tires and has the capability to travel across diversified terrains for a wide range of applications including firefighting, sports training support, and agriculture.
Stringent regulations pertaining to the exhaust emissions are providing a positive outlook for the ATV market growth over the study timeframe. The Code of Federal Regulations offers multiple regulations and guidelines related to the vehicle evaporative emissions standards, certification requirements, and general compliance provision. This ensures that the manufacturers offer their vehicles with superior engines that comply to the stringent emissions and does not pollute the environment.
The increasing cases of accidents owing to rash driving and unsuitable safety equipment may limit the ATV market share over the study timeframe. Moreover, the lack of appropriate driver training also leads to significant increase in accidents. For instance, according to the Consumer Federation of America, in 2018, the total ATV related fatalities accounted for around 300 deaths.
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North America will account for a significant share in the ATV market. This can be credited to the availability of multiple off-roading trials across the region. Moreover, increasing recreational spending and proliferating participation in off-roading events are further boosting the regional share. Few of the major events include Grand National Cross Country and Pro Quad Championship Series. The presence of multiple organizations including the ATV Safety Institute offering safety training and knowledge about driving such vehicles is further expanding the market.
Few of the major players operating in the ATV market share include Polaris Industries Inc, HiSun Motors, Bombardier Recreational Products, Honda Motor Co Ltd, Textron Industries, Yamaha, Kawasaki Motors Corporation, and Suzuki Motor Corporation. Strategic acquisitions and mergers are among the major strategies adopted by industry players to increase their market share.
Table of Contents (ToC) of the report:
Chapter 5. All-Terrain Vehicles Market, By Displacement
5.1. Global all-terrain vehicles market share by displacement, 2018 & 2025
5.2. Below 400 cc
5.2.1. Global market estimates and forecasts, 2013 – 2025
5.2.2. Market estimates and forecast, by region, 2013 – 2025
5.3. 400 - 800
5.3.1. Global market estimates and forecasts, 2013 – 2025
5.3.2. Market estimates and forecast, by region, 2013 – 2025
5.4. Above 800 cc
5.4.1. Global market estimates and forecasts, 2013 – 2025
5.4.2. Market estimates and forecast, by region, 2013 – 2025
Chapter 6. ATV Market, By Application
6.1. Global all-terrain vehicles market share by application, 2018 & 2025
6.2. Utility
6.2.1. Global market estimates and forecasts, 2013 – 2025
6.2.2. Market estimates and forecast, by region, 2013 – 2025
6.3. Sports
6.3.1. Global market estimates and forecasts, 2013 – 2025
6.3.2. Market estimates and forecast, by region, 2013 – 2025
6.4. Recreation
6.4.1. Global market estimates and forecasts, 2013 – 2025
6.4.2. Market estimates and forecast, by region, 2013 – 2025
6.5. Military
6.5.1. Global market estimates and forecasts, 2013 – 2025
6.5.2. Market estimates and forecast, by region, 2013 – 2025
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