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All-terrain vehicles (ATVs) are vehicles with treads or wheels with low pressure tires. They are saddle straddled by riders and have handle bars for steering controls. ATVs are designed to travel off-road. These vehicles are also known as quads, quad bikes, three-wheelers, four-wheelers or quadricycles. All-terrain vehicles possess the strength or endurance to cover miles of terrain full of dirt, sand, mud, gravel, and rocks. All-terrain vehicles were first introduced in the 1970s. These vehicles are specifically designed for outdoor and off-road terrain. Apart from excellent off-road capabilities, all-terrain vehicles can carry heavy equipment for miles on locations having narrow access points, where it would not be possible to ride larger vehicles.

All-terrain vehicles offer many advantages over normal utility vehicles (UTVs) like excellent off-road capabilities, ability of carrying heavy equipment for miles on locations having narrow access points, where it would not be possible to ride larger vehicles. These vehicles can also be modified for high-performance riding. These advantages provided by the all-terrain vehicles are expected to boost the all-terrain vehicles market during the forecast period.

Efforts undertaken to improve the technology used in ATVs such as the addition of power steering, four-wheel independent suspension, electronic fuel injection, and complex four-wheel drive systems are expected to fuel the all-terrain vehicles market during the forecast period. The development of electric ATVs are expected to help reduce emissions and noise along with their  low cost are expected to further boost the all-terrain vehicles market during the forecast period.

The increasing risk of accidents caused due to the use of the ATVs flipping or rolling are expected to restrict the all-terrain vehicles market during the forecast period.

Based on type, the all-terrain vehicles market is segmented into: utility ATVs, sports ATVs, and four wheel drive sport ATVs. Utility ATVs are the most used type of ATVs. These ATVs are larger and heavier than sports ATVs and are designed for heavy work operations. They usually have lower gearing with more torque carrying capacity. Sports ATVs are usually equipped with stiffer suspensions, lower center of gravity, and are lighter weight as compared to utility ATVs. Sports ATVs are provided with higher and more efficient engines, providing them the ability to reach and maintain high speeds for extended periods of time. This makes the sports ATVs suitable for sporty recreational and racing applications. Four-wheel drive sport ATVs have been developed to provide the combined features of both sports as well as utility ATVs. These vehicles are provided with four-wheel drive and plush suspensions to allow them to operate on rougher terrains.

In terms of type of engine used in ATVs, the market is classified into two-stroke engine and four-stroke engine. In the four stroke engine, there are four different strokes of the piston in the cylinder: intake, compression, combustion, and exhaust. While, in the two stroke engine the exhaust and intake are combined into one stroke and compression and combustion are combined into another. Two-stroke engines are simpler, lighter, and generate twice the power and are primarily used in applications where the power-to-weight ratio is a crucial factor. However, two-stroke engines produce more pollution as compared to four-stroke engines, since the exhaust and intake occurs at the same time. This has led to efforts for phasing out two-stroke engines in the last few years. Four-stroke engines are heavier, more complex, produce much less noise, and are more fuel efficient.

Based on the number of wheels, the all-terrain vehicles market is segregated into two-wheeled, three-wheeled, and four-wheeled ATVs. In terms of source of power for operation, the market is segmented into gas-charged ATVs and electric ATVs. Electric ATVs help reduce emissions as compared to gas charged ATVs, and thus find promising applications in agriculture.

Based on the type of braking system, the all-terrain vehicles market is classified into hydraulically actuated disc brake, drum brake, combination of disc and drum brake, and others. Hydraulically actuated disc brake can involve either single hydraulic actuation or double hydraulic actuation. Disc brakes are more commonly used as compared to drum brakes owing to their advantages such as higher braking torque, less wear and tear, and easy maintenance and handling. In terms of end-use application, the all-terrain vehicles market is divided into sports & recreation, outdoor riding & trekking, and ranching & agriculture.

Based on the geography, the all-terrain vehicles market is segmented into North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. The all-terrain vehicles market in North America is expected to dominate the global market due to the booming automotive industry, increase in outdoor trailing, and sport recreational activities in the region.

Key players operating in the all-terrain vehicles market are Yamaha Motor Co. Ltd., Honda Motor Co. Ltd., Kawasaki Motors Corp., Suzuki Motor Corporation, Polaris Industries Inc., Arctic Cat Inc. and Bombardier Recreational Products (BRP).

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

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All Terrain Vehicles Market

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