Global All-Terrain Vehicle Market Size Report 2022 The global all-terrain vehicle market size stood at USD 5.21 billion in 2020. The market is projected to grow from USD 5.37 billion in 2021 to USD 7.50 billion by 2028, at a CAGR of 4.90% during the forecast period 2021-2028. The global impact of COVID-19 has been unprecedented and staggering, with all-terrain vehicle witnessing a negative impact on demand across all regions amid the pandemic. Based on our analysis, the global market declined -5.8% in 2020 as compared to the average year-on-year growth during 2017-2019. The rapid increase in CAGR is due to the demand and growth rate of this market, which will return to pre-pandemic levels once the pandemic is over.
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DRIVING FACTORS
The demand for ATVs from military organizations is propelling the market. Polaris Government & Defense, based in the U.S., donated a Sportsman Big Boss and MRZR and two ATVs and UTVs to Latvia. As part of a U.S. government program, these Polaris vehicles were expected to be delivered in 2020 for military uses. As a result, growing demand from the defense sector is boosting the market growth for these vehicles.
LIST OF KEY COMPANIES PROFILED:
- Polaris Industries. (Medina, Minnesota, U.S.)
- Textron (Providence, Rhode Island, U.S.)
- Honda Powersport (Tokyo, Japan)
- Kawasaki heavy industries (Tokyo, Japan)
- Suzuki Motor Corporation (Hamamatsu, Shizuoka, Japan)
- BRP (Valcourt, Quebec, Canada)
- Yamaha Motor Corporation (Iwata, Shizuoka, Japan)
- Cfmoto (Hangzhou, China)
- Hisun (Chongqing, China)
- KYMCO, Inc. (Kaohsiung City, Taiwan)
An Overview of the Impact of COVID-19 on this Market:
The emergence of COVID-19 has brought the world to a standstill. We understand that this health crisis has brought an unprecedented impact on businesses across industries. However, this too shall pass. Rising support from governments and several companies can help in the fight against this highly contagious disease. There are some industries that are struggling and some are thriving. Overall, almost every sector is anticipated to be impacted by the pandemic.
We are making continuous efforts to help your business sustain and grow during COVID-19 pandemics. Based on our experience and expertise, we will offer you an impact analysis of coronavirus outbreak across industries to help you prepare for the future.
Major Table of Contents for Vehicle Telematics Market Research Report:
- Introduction
- Executive Summary
- Market Dynamics
- Key Market Growth Insights
- Global Market Analysis, Insights and Forecast, 2017-2028
- North America Market Analysis, Insights and Forecast, 2017-2028
- Europe Market Analysis, Insights and Forecast, 2017-2028
- Asia Pacific Market Analysis, Insights and Forecast, 2017-2028
- The Middle East and Africa Market Analysis, Insights and Forecast, 2017-2028
- Latin America Market Analysis, Insights and Forecast, 2017-2028
- Competitive Landscape
- Global Vehicle Telematics Market Revenue Growth, Industry Share Analysis, By Key Players, 2021
- Company Profiles
- Conclusion
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