ATV Electronics System Market by Type and Geography - Forecast and Analysis 2020-2024
Global ATV electronics system Market: About this market
Technavio’s ATV electronics system market analysis considers sales from the lighting system, advanced electronic systems, audio system, and other electronic systems. Our study also finds the sales of ATV electronics system in APAC, Europe, MEA, North America, and South America. In 2019, the lighting system segment had a significant market share, and this trend is expected to continue over the forecast period. Factors such as enhanced visibility and battery life will play a significant role in the lighting system segment to maintain its market position. Also, our global ATV electronics system market report looks at factors such as demand for ATVs across various applications, the launch of new ATV models and the expansion of manufacturing facilities, and increasing demand for electric ATVs. However, legal limitations associated with the use of off-road vehicles, change emission standards for off-road vehicles, and the availability of substitutes for ATVs may hamper the growth of the ATV electronics system industry over the forecast period.
Global ATV electronics system Market: Overview
Increasing demand for ATVs across various applications
ATVs are preferred for various applications including agriculture, military, and forest applications. This is due to the vehicle’s ability to operate in a variety of terrains such as soft surfaces, hard surfaces, snow, mud and more. In addition, the rising number of recreational and adventure sports activities in several regions and the broadcasting services for off-road events are also driving the demand for ATVs. This increasing use of ATVs in varied applications will lead to the expansion of the global ATV electronics system market at a CAGR of over 3% during the forecast period.
Emergence of autonomous ATVs
In the last five years, R&D activities pertaining to autonomous vehicles have increased significantly. Increasing levels of automation technologies are likely to make self-driving vehicles commercially viable soon. In addition, the growing investments in the development of autonomous technologies are further expected to continue during the forecast period, which will also be crucial in encouraging the development of autonomous technologies for off-road vehicles. Furthermore, various ATV electronic system manufacturers are deploying exceptionally reliable and efficient electronic components to serve specific applications. This development is expected to have a positive impact on the overall market growth.
For the detailed list of factors that will drive the global ATV electronics system market during the forecast period 2020-2024, click here.
With the presence of several major players, the global ATV electronics system market is fragmented. Technavio’s robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading ATV electronics system manufacturers, that include Acewell International Co. Ltd., Amphenol Corp., Continental AG, HELLA GmbH & Co. KGaA, Hirschmann Automotive GmbH, KSR International Co., Monroe Engineering LLC, Novotechnik Messwertaufnehmer OHG, TE Connectivity Ltd., and ZF Friedrichshafen AG.
Also, the ATV electronics system market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage on all forthcoming growth opportunities.
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