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The global ATV and UTV market is anticipated to register a CAGR of 6.15% during the forecast period, 2021-2028
The rising popularity of adventure sports and recreational activities, government rules supporting UTVs and ATVs, and growing demand for UTV and ATV in military vehicles, propel market growth.
New York, June 15, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "GLOBAL ATV AND UTV MARKET FORECAST 2021-2028" - https://www.reportlinker.com/p05774121/?utm_source=GNW
MARKET INSIGHTS
ATVs (all-terrain vehicles) are suitable for off-road capabilities, and find application in agriculture, forestry, military, and survey.UTVs (utility terrain vehicles) are designed with four or more wheels, and by definition, are used for transporting cargo and persons.
There is a growing demand for UTVs and ATVs for military activities like driving on difficult terrain and troop transportation.These vehicles are estimated to be in huge demand in the military segment, given their superior mobility in tactical missions.
Also, other factors like superior navigational aids, flexibility, and maneuverability, help with instant directions.Such factors drive market growth.
Thus, the increasing demand for these vehicles in the defense sector is a significant growth driver. The market growth restraining factors include high maintenance costs and a ban on ATV and UTV in wildlife areas.
REGIONAL INSIGHTS
The global ATV and UTV market growth assessment includes the evaluation of North America, Europe, Asia-Pacific, and Rest of World.North America dominated the global market in 2020, and is expected to be the major region by 2028.
The government regulations, high disposable income, and increasing demand for ATV, add to the region’s market prospects.
COMPETITIVE INSIGHTS
With many companies going for global expansion to extend their distribution network for delivering cost-effective and quality standard vehicles, the competitive rivalry is set to be intense.Kubota Corporation, Hisun, Kawasaki Heavy Industries Ltd, Honda Motor Company Ltd, Kwang Yang Motor Co.
Ltd, Deere & Company, etc., are among the market’s leading players.
Our report offerings include:
• Explore key findings of the overall market
• Strategic breakdown of market dynamics (Drivers, Restraints, Opportunities, Challenges)
• Market forecasts for a minimum of 9 years, along with 3 years of historical data for all segments, sub-segments, and regions
• Market Segmentation cater to a thorough assessment of key segments with their market estimations
• Geographical Analysis: Assessments of the mentioned regions and country-level segments with their market share
• Key analytics: Porter’s Five Forces Analysis, Vendor Landscape, Opportunity Matrix, Key Buying Criteria, etc.
• Competitive landscape is the theoretical explanation of the key companies based on factors, market share, etc.
• Company profiling: A detailed company overview, product/services offered, SCOT analysis, and recent strategic developments
Companies mentioned
1. BRP INC
2. CFMOTO
3. DEERE & COMPANY
4. HISUN
5. HONDA MOTOR COMPANY LTD
6. KAWASAKI HEAVY INDUSTRIES LTD
7. KUBOTA CORPORATION
8. KWANG YANG MOTOR CO LTD
9. POLARIS INDUSTRIES INC
10. SUZUKI MOTORS CORPORATION
11. TEXTRON INC(ARCTIC CAT)
12. YAMAHA MOTOR CO LTD
Read the full report: https://www.reportlinker.com/p05774121/?utm_source=GNW
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