All-terrain vehicles (ATVs) are utilized for off-road driving. They are three or four wheeled vehicles with large, soft tires and a relatively high centre of gravity. In most cases, these vehicles are used in farms, agricultural activities, vineyards, and ranches. They include amphibious vehicles, quad bikes, tractors, etc.
These vehicles are also used for recreational use. In order to provide better stability, all-terrain vehicles are designed for very rough terrain, jumps, maneuverability and endurance. These vehicles can reach speeds of 50 mph and weighs up to 600 lbs.
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All-terrain vehicles have strong dynamic ability. They have compact size and faultless cornering ability. Also, their light weight gives them a high power/weight ratio, aiding it to accelerate and brake quickly. They are also easier to maintain and repair due to their rugged structure. Owing to these advantages, they are highly preferred in military & defense industry.
Moreover, demand of these vehicles is also increasing in agricultural sector especially in developing economies as they aid in reduction of overall operational cost and manpower required. However, injuries due to accidents are currently acting as a limiting factor for the market growth.
According to the U.S. Consumer Product Safety Commission, an estimated 99,600 ATV-related injuries were treated in emergency departments in 2013. However, government regulations such as licensing the ATV operators on the basis of demonstrated competence in handling the vehicle and their knowledge of the safety hazards, usage of safety gears to reduce the risk, etc.
are expected to reduce the impact of the limitation during the forecast period.
All terrain vehicle market can be segmented on the basis of application, product type, number of tyres, and region. On the basis of application, the market can be segmented into mountains, military, agriculture, forestry, sports and others. On the basis of product type, the market can be segmented into youth ATV, Sports utility ATV, sport ATV and others. On the basis of number of tyres, the market can be segmented into more than 4 tyres, 4 tyres, 3 tyres.
On the basis of region, the market can be segmented into North America, Europe, Asia Pacific, South America Middle East and Africa. Amongst all, Europe is expected to be the most lucrative all-terrain market owing to favorable government initiatives and increasing awareness among people in the region.
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The key players operating in all terrain vehicle market are John Deere Limited, Cectek, Polaris India Pvt. Ltd., Bombardier Recreational Products, Xtreme Green Electric Vehicles Inc., Yamaha Motor Co. Ltd., Kassbohrer Gelandefahrzeug AG, Kawasaki Motors Corporation, Honda Motor Co. Ltd.,and Arctic Cat Inc. among others.
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