Growing government rules to drive ATVs on road, and increasing number of people participating in professional sports are the major factors driving the market growth.
The market size of all-terrain vehicle market is anticipated to attain a CAGR of ~5.70% over the forecast period, i.e., 2023 â€“ 2035.
The major players in the market are Yamaha Motor Co., Ltd., BRP, Kawasaki Heavy Industries. Ltd., KWANG YANG MOTOR CO., LTD., HISUN, KUBOTA Corporation, ZHEJIANG CFMOTO POWER CO., LTD, Polaris Inc., Textron Inc., and others.
The company profiles are selected based on the revenues generated from the product segment, the geographical presence of the company which determines the revenue generating capacity as well as the new products being launched into the market by the company.
The market is segmented by application, engine, fuel type, and by region.
The agriculture segment is anticipated to garner the largest market size by the end of 2035 and display significant growth opportunities.
High initial and maintenance cost of all-terrain vehicle, and trade barriers for the raw material are estimated to be the growth hindering factors for the market expansion.
The market in the North American region is projected to hold the largest market share by the end of 2035 and provide more business opportunities in the future.