Global ATV Market 2017-2021
All-terrain vehicle (ATV), also known as quad bike or quadricycle, is a vehicle that is designed to travel through a variety of terrains. It has four wheels with low pressure tires; it is steered using handlebars. Depending on vehicle size, ATVs are (usually) equipped with up to 2 seats, which are generally made of plastic. The global ATV market is growing due to increased adoption in applications such as defense; agriculture; off-road transport in mountainous, snowy, forested, or desert regions; and recreational or sporting activities.
Technavio’s analysts forecast the global ATV market to grow at a CAGR of 2.88% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global ATV market for 2017-2021. To calculate the market size, the report presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global ATV Market 2017-2021
Technavio recognizes the following companies as the key players in the global ATV market: BRP, Honda Motors, Polaris Industries, and Yamaha Motor.
Other Prominent Vendors in the market are: Arctic Cat and Suzuki Motor.
Commenting on the report, an analyst from Technavio’s team said: “One trend in the market is increasing ATV experience zones. ATV manufacturers are promoting the adoption of these vehicles by creating experience zones. In North America, ATV manufacturers such as Arctic Cat, BRP, Yamaha Motor, and Honda Motors formed an association that conducts off-road sport and racing events to boost ATV market.”
According to the report, one driver in the market is lower maintenance cost of e-ATVs. Electric ATVs (e-ATVs) have an electric powertrain that lowers environmental pollution and excessive vehicle sound. Since the electric powertrain already contains battery, controller, and motor/generator device to power the wheels, it eliminates the need for gas powered engine and other mechanical components. Lesser the number of mechanical components, lower the maintenance cost. In addition, the cost of electrically charging vehicles is less than the conventional fuel cost. Therefore, with the use of e-ATVs, the total maintenance cost of ATVs reduces significantly. This will push more customers to adopt these vehicles.
Further, the report states that one challenge in the market is range concerns of e-ATVs. Globally, almost all major automotive market countries are enforcing stringent vehicle emission and consumption norms, driving the electric vehicle market growth during the forecast period. To bring down the noise and emission pollutions, ATV manufacturers have come up with e-ATVs. However, owing to their small battery, the range that the vehicle can cover on a full charge reduces. High torque and power requirements quicken the discharging rate of the battery in e-ATVs, which further affects the vehicle range.
BRP, Honda Motors, Polaris Industries, and Yamaha Motor, Arctic Cat and Suzuki Motor.
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