The Asia Pacific All-terrain Vehicle Market would witness market growth of 5.1% CAGR during the forecast period (2021-2027).
All-terrain simply refers to the fact that an ATV may be utilized practically anywhere, from concrete roads to meadows, desert-like places, and difficult terrain. The ATV will handle all the bumps and steep climbs that may be required in various regions, regardless of the road condition. The vehicle itself is designed to be driven almost anyplace, which is the most advantageous feature of ATVs. Because ATVs can be taken almost everywhere, they can be the vehicle of choice for having some fun and adventure. ATVs provide more protection and a distinct driving sensation than motorcycles, making them a particularly desirable vehicle for adventurers. Car enthusiasts, on the other hand, will like the open structure of ATVs and their adaptability in managing tough terrain.
ATVs are also designed to be tough and durable, which explains their capacity to handle the strains of the road, particularly on difficult and mountainous terrain. ATVs are a fantastic work vehicle for some people, especially those who work in farming or other agricultural-related jobs because they are strong, rough, and adaptable. When motorcycles and cars may struggle to handle muddy and rocky terrain while caring to a farm, farming operations will be a breeze with the ATV. All-terrain vehicles are essentially fun and helpful alternative to more common and generic vehicles. They can be used for more than just having fun while driving. ATVs are fantastic to have when conducting outdoor activities because they are built strong and rugged
China and Australia are the two leading all-terrain vehicle countries in the Asia Pacific in terms of volume, with the latter being the region's top seller of ATVs. Utility ATVs are expected to account for the majority of the all-terrain vehicle industry in the region. Apart from being utilized in the military and other productive sectors of the economy in this region, the growing demand for leisure and sporting activities in countries like India and Australia will propel the all-terrain vehicle market even further. As a result, the region provides all-terrain vehicle producers with rich chances and enormous potential. The favorable rise in macroeconomic fundamentals in emerging nations like China and India has influenced purchasing behavior for all-terrain vehicles based on sports/recreational or utility needs, resulting in market expansion in this region.
The China market dominated the Asia Pacific All-terrain Vehicle Market by Country in 2020, and would continue to be a dominant market till 2027; thereby, achieving a market value of $283.9 Million by 2027. The Japan market is estimated to witness a CAGR of 4.4% during (2021 - 2027). Additionally, The India market would exhibit a CAGR of 5.7% during (2021 - 2027).
Based on Application, the market is segmented into Recreational, Sports, Military & Defense and Agriculture. Based on Engine Type, the market is segmented into 400cc-800cc, below 400cc, and above 800cc. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
Free Valuable Insights: The Worldwide All-terrain Vehicle Market is Projected to reach USD 3.8 Billion by 2027, at a CAGR of 4.2%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Textron, Inc., Bombardier Recreational Products, Inc., Zhejiang CFMoto Power Co., Ltd., Polaris, Inc., Deere & Company, Kwang Yang Motor Company Ltd., Suzuki Motor Corporation, Honda Motor Co. Ltd., Yamaha Motor Co., Ltd., and Kawasaki Heavy Industries, Ltd.
By Application
By Engine Type
By Country
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