The diversification of the automobile sector has increased the scope for growth of ATV engines. Reports that evaluate the automobile industry have been made available by Market Research Future which creates reports on several industry verticals that review the market growth and prospects. The all-terrain vehicle engines market is set to attain a CAGR of 5.38% while earning income worth USD 1,755.6 Mn in the forecast period.
The rise in outdoor adventure activities is anticipated to motivate the all-terrain vehicle engines market in the coming years. The growth of the tourism sector has significantly induced progress in the market for all-terrain vehicle engines. The advances in engineering have improved the efficiency of the high-performance engines, thus furthering the growth of all-terrain vehicle engines. Furthermore, the increasing popularity of ATV experience areas is expected to create favorable aspects for growth in the coming years.
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Segmental Analysis
The analysis of the segments in the all-terrain vehicle (ATV) engines market is carried out on the basis of type, power, application, and region. Based on types, the all-terrain vehicle engines market has been segmented into 0-300cc, 800-1000cc, 500-800cc, 300-500cc, and 1000cc and above. Based on application, the all-terrain vehicle engines market has been segmented into aftermarket and OEM. The segmentation of the all-terrain vehicle engines on the basis of power comprises of Up to 80HP and Above 80HP. The geographical areas covered in the all-terrain vehicle engines market are South Korea, United States, China, Europe, Japan, India and Rest of the World.
Detailed Regional Analysis
The regional analysis of the all-terrain vehicle (ATV) engines market includes geographical areas such as South Korea, the United States, China, Europe, Japan, India and Rest of the World. The market for ATV engines in the US is encouraged by the incidence of key manufacturers in the region. An enormous surge in the sales of ATV engines due to their large-scale use in forestry, agricultural lands, and mountains has also been advantageous for the progress of the market. Amplified use of ATVs in adventure tourism and progressive engine design and transmission system are significant drivers supporting the growth of the market in the U.S. The European region is the subsequent major market for all-terrain vehicle engines market and is projected to develop at a CAGR of 5.20% throughout the forecast period. China is expected to appear as the rapidly growing market for all-terrain vehicle engines market at a CAGR of 5.50% due to factors such as favorable government policies, increasing per capita disposable income, and the prevalence of ATV engine manufacturers in the region.
Competitive Analysis
The market is projected to accomplish an absolute lead in the market place owing to improved strategies in specific areas. Additionally, the deals being coined in the market are likely to additionally inspire the development of the market in the impending years. The absorbed expenses in the market are readily dispensed with, opening more room for the development in the market. The companies functioning in the market are persistently taking on the hindrances to progress and are forming strategies that are projected to guide to a beneficial outcome on the market's advancement. The advancement of the market is upgraded chiefly due to the reduction in promotional and miscellaneous expenses. An intensified growth pace is observed due to the productive effect exerted by the market forces both externally and internally. The progress capability of the market is bolstered by the accretive nature of the assets available in the market.
The significant competitors functioning in the all-terrain vehicle (ATV) market globally are Kawasaki Heavy Industries, Ltd., BRP-Rotax GmbH & Co KG, Suzuki Motor Corporation, Textron Inc., Polaris Industries, Inc., Yamaha Motor Co., Ltd., Massimo Motor Sports, LLC, Honda Motor Co., Ltd., Taiwan Golden Bee Co. and CFMOTO.
Advancements in infotainment system offer superior entertainment and user-friendly experience with GPS tracking, Bluetooth connectivity, and mobile tracking facilities, thereby, enhancing the driving experience and boosting all-terrain vehicle market.Rising technical development in quad bikes with upgraded performance and efficiency will boost all-terrain vehicle market size from 2017 to 2026.
Sports application is the major segment where the All-Terrain Vehicle is highly demanded and thus, it is expected to hold major market share in the forecast period owing to shifting consumer preference for recreational and adventurous sports backed by rising disposable income.Key manufacturers including Polaris and Honda offer a wide variety of sports segment that showcases lightweight vehicle with the required suspension to handle turns, jumps, and bumps.
These products are designed for different sports including recreation, hunting, and racing.
Numerous snowmobile associations and clubs across the region conduct sports events yearly, leading to increased sales of these quad bikes and thereby propelling industry size during the forecast timeframe.Get Request For Discount:http://www.marketgrowthanalysis.com/reports/enquiry/153Key player across the All-Terrain Vehicle industry are Arctic Cat, Bombardier Recreational Products, CECTEK, CFmoto, Honda Motors, Kawasaki Motors Corporation, HiSun Motors, John Deere and KYMCO.
Global ATV market share is highly competitive due to the presence of well-established companies.
Rising competition between new entrants and existing companies is projected to stimulate new product development during the forecast timespan.
