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All-Terrain Vehicle Market Size, Analysis, Top Players, Target Audience and Forecast to 2027
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All-Terrain Vehicle Market Focusing on Current Trends, Leading with Top Key Players
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Utility Vehicle Market to Reach $51 69 Bn, Globally, by 2030 at 9 4% CAGR: Allied Market Research
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The key market players analyzed in the global
ATV and UTV market report include CFmoto, Deere Company, Suzuki Motor Corporation, Hisun Motors Corporation, Kawasaki Heavy Industries Ltd, Kwang Yang Motor Co., Ltd., Yamaha Motor Co., Ltd., BRP Inc, Kubota Corporation, Polaris Industries, Inc., Honda Motor Company, Ltd., and Textron Inc. These market players have incorporated several strategies including partnership, expansion, collaboration, joint ventures, and others to brace their stand in the industry.
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All-terrain Vehicle Market by Type (Three-wheeler, Four-wheeler, Six-wheeler, and Eight-wheeler) and Application (Personal, Professional, and Military & Defense) - Global Opportunity Analysis and Industrial Forecast, 2017-2030.
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The all-terrain vehicle market, by value, is projected to grow to USD 4.4 billion by 2025 from USD 3.9 billion in 2020, at a CAGR of 2.4% during the forecast period.
The rising demand for ATVs in recreational activities, mainly worldwide championships, will boost the future growth of the all-terrain vehicle market.
The COVID-19 pandemic has had a low impact on the North America and Asia Oceania all-terrain vehicle market. European countries and the RoW region were significantly impacted by COVID-19 and underwent lockdowns, therefore, powersports and recreational activities were stopped. Also, a majority of the ATV manufacturing companies in Europe reported steep decrease in revenues. However, with the resumption of a few power sports and entertainment activities in the coming months, the market is expected to grow in future.