Global All-terrain Vehicle (ATV) Engine Market is Predicted to Post 5.38% CAGR by 2025
North America to Lead the Global All-terrain
Vehicle (ATV) engine market
The Global All-terrain Vehicle (ATV) Engine
market to Grow Amid COVID-19 Outbreak
All-Terrain Vehicle (ATV) Engine Market
Overview:
According to Market Research Future (MRFR), the
global all-terrain
vehicle (ATV) engine market is estimated to exhibit a CAGR of 5.38% from
2018 to 2025 (forecast period). The report presents the strengths,
opportunities, threats, and potential business risks and offers a holistic
overview of the global market climate with the influence of COVID-19.
An all-terrain vehicle (ATV) relates to a
motorized tri-or quadricycle bike and buggy designed for off-road travel and
activities. The vehicle comprises handlebars and low-pressure tires with
deep-threaded structures that help drive over muddy, rocky, wetland, and dune
topologies. Compared to other utility vehicles (UTVs), ATVs offer excellent
off-road capabilities and can accommodate heavy equipment over long distances
and narrow access points. They can also be customized for high-performance
riding, enabling them to find broad applications across different industries,
including sports, entertainment, agriculture, military, and defense.
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sample report of All-Terrain Vehicle (ATV) Engine Market
Market Dynamics
The popularity of ATV as an outdoor recreation
activity has increased dramatically in recent years. The increasing demand from
the tourism sector can be seen as a significant driver for the global market
for ATV engines. The development of high-performance engines also creates
opportunities for market players. A large range of ATVs has emerged in recent
years, which has led OEMs to continue to focus on developing engine technology.
The global market for ATV engines was estimated at USD 1.755.6 million, with up
to 80 HP engines making a significant contribution to market revenue.
Market Segmentation
The global all-terrain vehicle
(ATV) engine market has been segmented into types, application, and power.
By type, the global all-terrain vehicle
(ATV) engine market has been segmented into 0-300cc, 300-500cc, 500-800cc,
800-1000cc, and 1000cc and above.
By application, the global all-terrain
vehicle (ATV) engine market has been segmented into OEM and aftermarket.
By power, the global all-terrain
vehicle (ATV) engine market has been segmented into Up to 80 HP and above 80
HP.
Regional Analysis
By region, the global all-terrain
vehicle (ATV) engine market has been segmented into North America, Europe, Asia
Pacific, The Middle East & Africa (MEA), and Latin America.
North America is the biggest market. The U.S.
and Canada are the leading countries in which the adoption of ATVs has
increased dramatically due to the developed economy, higher disposable income
of the residents, upcoming electric vehicle projects, and government
regulations of ATVs. The region has a range of off-road parks and trails,
including River Valley Motocross, Rocky Ridge Ranch, and Northwest Off-Highway
Vehicle Park. These off-road parks and trails have become tourist attractions
and have had a positive effect on the economic development of local
communities.
The European region is expected to see
increased demand for ATVs over the forecast period due to the growing demand
for off-road vehicles in agricultural as well as military and defense
applications. The development of standardized safety requirements and test
methods, combined with updated regulations on emissions from non-road mobile
machinery, is expected to fuel market demand.
The Asia Pacific is creating sustainable growth
opportunities for all-terrain vehicle manufacturers due to the wide market, growing
military expenditure and the availability of low-cost manufacturing.
Key Players
Honda Motor Co., Ltd., Massimo Motor Sports,
LLC, BRP-Rotax GmbH & Co KG, CFMOTO, Taiwan Golden Bee Co., Kawasaki Heavy
Industries, Ltd., Textron Inc., Suzuki motor corporation, Yamaha Motor Co.,
Ltd. and Polaris Industries, Inc. are key players of the global ATV engine
market.
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