Future Market Insights
All-terrain vehicles (ATVs) are three or more than three wheeled motorized vehicles with large tyres that are primarily used for off road activities. All-terrain vehicles are generally used in vineyards, ranches, farms and other agricultural work places. They include most quad bikes, smaller side-by-sides and amphibious vehicles. In early 1980s, all-terrain vehicles were first introduced in the U.S. for agricultural purposes. Over a decade, all-terrain vehicles have grown increasingly popular for recreational use. The latest trend in the all-terrain vehicles market is that manufacturing companies are forming associations to develop the market by organizing sports events. Over the years, all-terrain vehicles have become fast and heavy for better stability. According to an estimate, majority of the all-terrain vehicles used in Canada and the Central U.S. are for recreational activities (joyriding). While in New Zealand and Australia, majority of them are used for agricultural activities.
In many countries including several from North America and Europe, all-terrain vehicles are not legal for use on normal streets, due to their functionality. On another note, technological advancements, such as infotainment systems make these vehicles more user friendly and provide entertainment while driving. This is forecasted to be an opportunistic avenue for the all-terrain vehicles market. Moreover, presence of Bluetooth, GPS tracking and mobile tracking further enhances the driving experience. Hybrid engines provide better control while riding, owing to their light weight and ability to travel long distances due to the presence of an alternate source of energy.
All-Terrain Vehicle Market: Dynamics
Increase in recreational activities is expected to directly translate to a rise in the demand for all-terrain vehicles, owing to their functionality in rough terrains. Moreover, the increasing use of these vehicles in the agricultural sector helps reduce manpower and the overall operation cost. This another key factor projected to drive demand for the all-terrain vehicles market. Further, technical advancements in all-terrain vehicles and their enhanced user friendliness are also supporting the demand for this market.
However, an increase in the accident rate related with these vehicles and laws prohibiting their use in public places are hampering the demand for them.
All-Terrain Vehicle Market: Trend
All-terrain vehicles are intended for use by a rider and pillion. Attributing to factors, such as injuries, safety has always been a key issue with ATVs. Most ATV manufacturers recommend at least DOT approved helmets, gloves, protective eye wear and suitable riding boots for all conditions. Fatal accidents generally occur when the vehicle rolls over and therefore, proper tyres play an important role in avoiding injuries.
In the U.K., one can ride quad bikes on public roads provided they weigh less than 550 kg and the rider has a B1 license, along with registration and insurance. Similarly, there are many other countries where ATVs are strictly restricted for on road driving, wherein children are not allowed. However, manufacturers are trying to improve ATVs by increasing their stability, rollover resistance and crash worthiness, as highlighted by the Quad Bike Performance Project. Now a days, crush protection devices (CPDs) or roll over protection systems are installed in ATVs. Changes to existing laws, government support and awareness among people will drive the demand these vehicles in the future.
All-Terrain Vehicle Market: Segmentation
On the basis of application, the all-terrain vehicle market can be segmented into:
On the basis of product type, the all-terrain vehicle market can be segmented into:
Sports Utility ATV
On the basis of number of tyres, the all-terrain vehicle market can be segmented into:
More than four tyres
All-Terrain Vehicle Market: Market Participants
Examples of some of the market participants identified in the all-terrain vehicle market across the globe are:
Bombardier Recreational Products
Polaris India Pvt. Ltd.
Kässbohrer Geländefahrzeug AG
Xtreme Green Electric Vehicles
Kawasaki Motors Corporation
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