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All-Terrain Vehicle (ATV) Market Trends

  • Report ID: GMI765
  • Published Date: Feb 2024
  • Report Format: PDF

All-Terrain Vehicle Market Trends

The increasing electrification of all-terrain vehicles (ATVs) is a lucrative growth factor in the market. With advancements in electric vehicle technology, electric ATVs offer numerous benefits such as reduced emissions, quieter operation, and lower maintenance costs. For instance, in November 2022, Rohnel Motors introduced electric ATVs in the Indian market.
 

Rohnel Motors, based in Chennai, currently offers a range of five electric ATVs namely Patriot 5000W, Ranger 4000W, Zeus 3000W, Beast 1200W, and Raven 1200W assembled at its manufacturing facility. Additionally, the growing emphasis on sustainability and environmental consciousness is driving demand for electric ATVs. This shift toward electrification is poised to attract environmentally conscious consumers and open new opportunities for market expansion.
 

Continuous technological advancements are reshaping the all-terrain vehicle market. Innovations encompass various aspects of its design include engine efficiency, suspension systems, and safety features. Enhanced engine performance translates to greater power and efficiency, while improved suspension systems provide better handling & comfort across diverse terrains. Additionally, advancements in safety features, such as Roll-Over Protection Structures (ROPS) and Electronic Stability Control (ESC), enhance rider safety. These technological improvements not only attract enthusiasts seeking superior performance but also broaden the appeal of ATVs to a wider consumer base.

Authors: Preeti Wadhwani

Frequently Asked Questions (FAQ) :

The market size of all-terrain vehicle (ATV) reached USD 2.9 billion in 2023 and is set to witness 6.5% CAGR between 2024 and 2032, with companies allocating more funds toward manufacturing facilities and technological advancements for diverse ATV models.

In 2023, the adult segment accounted for a market share of over 85%, owing to the introduction of high-powered, four-wheel drive ATVs for adults.

North America market share was over 60% in 2023, due to the utilization of ATVs for various utility applications across the region.

BRP, CF Moto, Hisun, Honda, Kawasaki, KYMCO, Linhai, Polaris, Suzuki, and Yamaha.

All-Terrain Vehicle Market Scope

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Premium Report Details

  • Base Year: 2023
  • Companies covered: 16
  • Tables & Figures: 300
  • Countries covered: 25
  • Pages: 250
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