All-terrain Vehicle Market Set for Rapid Growth During 2022 - 2028

The all-terrain vehicles, also known as quads or quadricycles, are vehicles which travel on low-pressure tires. These vehicles are gaining traction with rising recreational and sports activities along with increasing applications in agriculture and defense sectors. Major market players are focusing on innovations such as the development of electric ATVs, thereby creating a positive market outlook in the coming years. North American region is expected to hold the maximum share on account of upcoming electrical vehicle projects and scope for new and advanced technologies.

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Companies Profiled in this report includes:  Arctic Cat (Textron), Can-AM (BRP), CFMOTO, Honda Motor Co., Ltd., Jiangsu Linhai Power Machinery Group Corp., Kawasaki Motors Corp., U.S.A., Polaris Inc., Suzuki Motor of America, Inc.,  Taiwan Golden Bee Co. (TGB), Yamaha Motor Corporation

The all-terrain vehicle market is anticipated to grow in the forecast period owing to driving factors such as growing applications in the agriculture as well as military and defense sector. Besides, increasing off-road recreational activities is likely to positively influence the market growth. However, high accident rates may hamper the growth of the all-terrain vehicle market during the forecast period. On the other hand, introduction of electric ATV and continuous technological developments would create good growth opportunities for the key players of the all-terrain vehicle market in coming years.

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MARKET SEGMENTATION

The global all-terrain vehicle market is segmented on the basis of type, drive type, engine capacity, fuel type, seating capacity and application. Based on type, the market is segmented as utility ATV and sport ATV. By drive type, the market is segmented as 2-wheel drive, 4-wheel drive, and all-wheel drive. On the basis of the engine capacity, the market is segmented as less than 400 CC, 400 to 800 CC, and more than 800 CC. By fuel type, market segmentation is done as gasoline and electric. The market on the basis of the seating capacity is classified as one-seat ATV, and two-seat ATV. By application, the market is segmented as sports, agriculture, entertainment, military & defense, and others.

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