KEY FINDINGS 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.
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
Our reports have been used by over 10K customers, including:
The Global Electronic-Nose (e-nose) Market was valued at USD 17.8 million in 2020. It is expected to reach USD 34.78 million by 2026, registering a CAGR of 12.44% during 2021-2026. Amid the COVID-19 outbreak, there is a significant potential that the market may introduce eNose to detect infected people, when robots equipped with e-noses can...
The global shape memory alloys market exhibited strong growth during 2015-2020. Shape memory alloys (SMA) are various metallic elements that exhibit both pseudoelasticity and shape memory effect in response to changes in temperature and electromagnetic force. They can regain their original form after deformation and...
The global C4ISR market reached a value of US$ 111 Billion in 2020. Looking forward, the analyst expects the market to exhibit moderate growth during 2021-2026. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different...
What’s Ahead for the Aerospace, Aviation and Defense Industry?--Emerging Opportunities and Growth Strategies for Suppliers This report is part of the Competitive Analysis Series prepared to help current suppliers and potential market entrants realistically assess their financial, technological and marketing capabilities...
The neuromorphic computing market is expected to be valued at USD 22,743 thousand in 2021 and is expected to reach USD 550,593 thousand by 2026, at a CAGR of 89.1% between 2021 and 2026. The need for better performing ICs, increase in demand for artificial intelligence and machine learning, and increasing number of cross-industry partnerships...
Trends, opportunities and forecast in ballistic protection market to 2026 by type (vehicle armor and body armor), by application (defense, homeland security, and civil), and by region (North America, Europe, Asia Pacific, and the Rest of the World) The future of the global ballistic protection market looks promising with opportunities...
The global sapphire glass market reached a value of US$ 808 Million in 2020. Sapphire glass is a synthetically manufactured crystal that exhibits similar hardness as diamond, which makes it highly durable. Typically produced in cylindrical sticks, called boules, the production of sapphire glass is an expensive, energy-intensive...
Global Thermal Imaging Market for Mobility Anticipated to Reach $3.22 Billion by 2025
Market Report Coverage - Thermal Imaging Market for Mobility
• Application Type – Automotive, Aerosapce and Defense, and Marine
• By Wavelength- Short, Medium, Long
The military sensors market is estimated at USD 9.9 Billion in 2021 and is projected to reach USD 13.2 Billion by 2026, at a CAGR of 5.9% from 2021 to 2026. The military sensors market is growing at a significant rate across the world, and a similar trend is expected to be observed during the forecast period. Increasing demand for battlespace...
175 pages •
By The Business Research Company
• Jul 2021
Major players in the 5G in defense market are Ericsson, Huawei, Nokia Networks, Samsung, NEC, Thales Group, L3Harris Technologies Inc., Raytheon Technologies, Ligado Networks, Wind River Systems Inc., AT&T, and Qualcomm Technologies Inc. The global 5G in defense market is expected to grow from $39.62 million in 2020 to $71.24 million...
You can change your Cookie Settings at any time but parts of our site will not function correctly without them.