About ATV Steering System
ATVs are vehicles that can traverse different terrains as they have the capability to steer through any surface. Terrain is the most important parameter for the design of an ATV. The components used to manufacture ATVs are optimized to sustain different maneuvering conditions. There are several components used to manufacture ATVs such as include the suspension system, drivetrain, engine, chassis, steering system, safety equipment, and tires. ATVs are a new segment of small vehicles that are popular in North America. They had gained popularity after Honda Motor introduced the first commercially available road-going ATV in 1970.
Technavio’s analysts forecast the global ATV steering system market to grow at a CAGR of 11.02% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global ATV steering system market for 2017-2021. 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 Steering System Market 2017-2021
Technavio recognizes the following companies as the key players in the global ATV steering system market: Polaris Industries, SHOWA, Kimpex, and Wickedbilt.
Other Prominent Vendors in the market are: Allied Motion Technologies, PD International, Kimpex, Can-Am, and Bobcat.
Commenting on the report, an analyst from Technavio’s team said: “One trend in the market is design language of ATVs mimicking mainstream vehicles. The 2016 Can-Am Spyder has a triple cylinder engine and a six-speed semi-automatic transmission, which is similar to mainstream vehicles. Its engine produces more power than the previous model. Its transmission has been upgraded to a six-speed semi-automatic setup. This indicates that manufacturers are focusing on making ATVs that mimic mainstream vehicles.”
According to the report, one driver in the market is increasing number of ATV motorsport events and viewers. There are several enthusiasts of ATVs. Hence, investors from various sectors of the automotive industry are attracted toward the domain. ATVs are used in off-road terrains in motorsport. The number of off-road motorsport events has grown due to the increase in the number of viewers. It has also been observed that viewer watching ATV motorsports are unlikely to switch channels between races. The high speed of turns and unsafe conditions of off-road events have increased the opportunities for research related to ATVs.
Further, the report states that one challenge in the market is high cost and extreme design of ATV steering systems cause fluctuations in demand. The cost of ATVs that are offered by the major vendors starts from $6,500. Honda Motor, Suzuki Motor, Yamaha Motor, and Polaris Industries are the major vendors in the global ATV market. The steering systems used in ATVs are electrically assisted by a motor, which transfers the motion through an intelligent electric feed module according to the programming. OEMs use such systems to provide assisted steering control. ATVs that are equipped with PAS cost more when compared with ATVs that are equipped with mechanical systems. However, most OEMs have switched from mechanical steering to PAS for most of their models.
Polaris Industries, SHOWA, Kimpex, and Wickedbilt, Allied Motion Technologies, PD International, Kimpex, Can-Am, and Bobcat.
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