Pune, India, May 09, 2019 (GLOBE NEWSWIRE) -- The report found on Wise Guy Reports (WGR) reveals that the global all-terrain vehicle (ATV) engines market is predicted to grow at a CAGR of 5.38% during the forecast period (2018–2025). The report adds that the market is on a sure shot climb to success with predictions of it earning massive revenue by 2025.
Rising Traction of Recreational Activities to Support Market Growth
The rising penetration of recreational activities and sports around the world will be highly beneficial for the expansion of the all-terrain vehicle market size over the conjectured period. Developments in infotainment systems have led to superior entertainment along with a user-friendly experience with Bluetooth connectivity, mobile tracking facilities and GPS tracking, improving the driving experience in the process.
Growing Research and Development to Pave Way for Market Expansion
Growth in the research and development (R&D) expenditure by market giants such as Yamaha, Polaris, Honda, Arctic Cat, BRP and Suzuki for advancement in fuel storage capacity, design, engine light-weight technology, transmission system and fuel efficiency, have given way to numerous key developments. These factors are bound to augur the elevation of the global all-terrain vehicle engines market in the years ahead.
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The Trend of Hybrid Models Makes Way into the Global Market
The emergence of hybrid models which include hybrid diesel is expected to have an excellent impact on the market on account of minimal emissions and their extremely fuel-efficient engines. Rising stress of industry vendors on the development of environmentally friendly models for eliminating excessive sound will have a profound effect on the growth of the all-terrain vehicle market in the forthcoming years. In addition, continuous efforts by these companies to develop lightweight and efficient models to implement them in military and defense sector to be used in combat supplies movement will be instrumental in the market growth to a large extent.
Strict Government Regulations to Restrict Market Growth
There are few bottlenecks causing obstacles to the growth of the global all-terrain vehicle engines market, with the main factor being the stringent government regulations regarding ATV riding as well as changes to the soil structure which can have a negative effect on vegetation.
500-800cc Segment to Emerge as the Most In-Demand Type
Depending on the type, the 500-800cc segment in the global ATV engines market is exhibited to depict the highest growth rate of 5.63% during the assessment period. Generally, 500-800cc types of ATV engines are specifically designed for performing heavy tasks, in addition to being used extensively in military and Special Forces.
OEM at the Top Position among all the Applications
The original equipment manufacturers (OEM) segment is set to lead among all the applications in the global ATV engines market, with predictions that it will be surging at the highest CAGR of 5.42% in the coming years. The rising demand to replace ATV engines for upgrading to modern advanced versions is deemed to present numerous opportunities for the elevation of OEMs.
Power of Up to 80 HP to Gain Major Traction in Coming Years
The up to 80 hp segment is expected to be at the forefront of all the power segments in the global ATV engines market. The segment is poised to surge at the highest CAGR of 5.51% during the conjectured time frame. These types of engines (up to 80HP) are useful in a broad range of applications like carrying, hauling, farming and transporting, providing a considerable push to the segment.
The report identifies North America as the leading region in the global all-terrain vehicle engines market with the United States (US) at the top with 45.73% share in 2017. At the second and third spot are Europe and the Rest of the World with market shares of 19.6% and 16.01% respectively.
The U.S. to Control the Major Share of the Global Market
At present, the United States (U.S.) is the major shareholder of the ATV engine market, as a result of its widespread use in many areas such as forestry, mountains and agricultural lands. Also, the country is home to a large number of prominent engine manufacturers which gives a significant push to market growth.
The huge increment in the ATV engines sales has been noted in recent times on account of the presence of renowned ATV engine manufacturers like Polaris Industries Inc., Arctic Cat, and BRP Inc. These well-established companies are making massive investments in research and development for improvement of fuel storage capacity, engine light-weight technology as well as fuel efficiency; a factor that will lead to a substantial rise in the sale of ATV engines in the following years.
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China Rushes Past Competition at the Fastest-Growth Rate
Giving stiff competition to the U.S. is China, which is on track to be the fastest-growing regional market for ATV engines. The country-wise market will be registering a robust CAGR of 5.60%, in addition to reaching the valuation of USD 296.4 million by 2025. Factors like favorable government policies, presence of ATV engine manufacturers like HISUN, Chongqing Jianshe Motorcycle and CFMOTO, along with growing per capita disposable income has stimulated the growth of the ATV engines market in China.
Top Players
Taiwan Golden Bee Co., Yamaha Motor Co., Ltd, BRP-Rotax GmbH & Co KG, Polaris Industries, Inc, Honda Motor Co., Ltd, CFMOTO, are the biggest companies currently leading the ATV engines market.
It was reported that in 2017, all these companies combined accounted for close to 90% of the total market share. Other than these, the major companies in the ATV engines market include Taiwan Golden Bee Co, Suzuki Motor Corporation, Massimo Motor Sports, LLC, CFMOTO, and Kawasaki Heavy Industries Ltd and so on.
Industry Update
May 2019 - CFMoto is in the process of launching a series of motorcycles in India in the latter half of 2019. These bikes will have a capacity ranging from 250cc to 650cc. The company originates from China and has expertise in the manufacturing of all-terrain vehicles. At present, it is getting into an agreement with Bengaluru-based AMW Motorcycles Private Limited which will help it launch its vast range of all-terrain motorcycles in the country.
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