NEW YORK, Feb. 16, 2017 /PRNewswire/ -- Trends, opportunities and forecast in this market to 2022 by product (sports ATV, utility ATV, and other ATV), application (sports, entertainment, agriculture, military and defense, forestry, and others), By type (type I, type II), by engine displacement (low, medium, and high) and by region (North America, Europe, Asia Pacific, and the Rest of the World)
The future of the global all-terrain vehicle market looks promising with opportunities in the sports and utility ATV market segment. The global all-terrain vehicle market is expected to reach an estimated $3.3 billion by 2022 and it is forecast to grow at a CAGR of 2.5% from 2017 to 2022. The major drivers of growth for this market are increasing disposable income, rising recreational and off-roading activities, and growth in the emerging markets, particularly China, India.
Emerging trends which have a direct impact on the dynamics of the industry include enhanced user experience through next generation all-terrain vehicles and all-terrain vehicles with distinct features.
The study includes a forecast for the global all-terrain vehicle market by product, application, engine displacement, type and region as follows:
By product (Volume (Thousand Units) and $ Million from 2011 to 2022):
- Sports ATV
- Utility ATV
- Other ATV
By application (Volume (Thousand Units) and $ Million from 2011 to 2022):
- Military and Defense
By engine displacement (Volume (Thousand Units) for 2016):
By type (Volume (Thousand Units) for 2016):
- Type I
- Type II
By region (Volume (Thousand Units) and $ Million from 2011 to 2022):
- North America
- Asia Pacific
- Rest of the World
Polaris Industries Inc., Honda Motor Co Ltd, Yamaha Motor Co Ltd, Arctic Cat Inc., and BRP Inc. are the major all-terrain vehicle manufacturers in the global all-terrain vehicle market.
On the basis of its comprehensive research, Lucintel forecasts that the utility ATV segments will show above average growth during the forecast period of 2017 to 2022 due to increasing use of utility all-terrain vehicles in farming and agriculture applications.
Within the global all-terrain vehicle industry, the utility ATV segment is expected to remain the largest market. Versatility and multifunctioning features are expected to drive all-terrain vehicle sales, which would spur growth for this segment over the forecast period.