Global ATV & SSV Market is valued approximately at USD XXX million in 2018 and is anticipated to grow with a healthy growth rate of more than XX% over the forecast period 2019-2026. ATV & SSV are types of Off-Road Vehicles. The ATV is an All-Terrain vehicle usually made for a single rider. These vehicles are suited for making quick turns and operate well in tight woods. While, SSVs are Side by Side Vehicles with a 2 to 6-person capacity and four-wheel drive. Side-by-sides vehicles come factory-equipped with a rollover protection structure. Many of the vehicles also come equipped with hard tops, windshields, and even cab enclosures. These vehicles are mainly used for recreational sports and races on Off Road tracks. These are also gaining adoption in the military and agricultural areas. Further, increasing disposable income along with growing recreational and touring activities has led the adoption of ATV & SSV across the forecast period. As the US recreation Department offers over 150 thousand miles of trails and around 440 wilderness areas for the drive of ATV and SSV under adventure sports. This has increased the sales of the sector as the ATV sales of Polaris increased from 1244 units in 2017 to 1307 units in 2018. While of Honda increased from 908 units in 2017 to 973 in 2018. Also, an advancement in the ORV technology, and increasing usage of ORVs in the agriculture and military operations is expected to fuel the demand for ATV & SSVs. However, increasing number of accidents owing to improper driver training and non-usage of safety equipment will hamper the industry growth over the forecast timeframe. For Instance: As per the Consumer Federation of America, ATV fatalities in US amounted to 349 in the year 2017. While, High acquisition cost along with enhanced power and torque output by the rugged off-road vehicles will obstruct the market growth.
The regional analysis of global ATV & SSV market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. North America is the leading/significant region across the world in terms of market share owing to the high disposable income of the population and rising inclination of the people towards various adventure and recreational sports which includes use of ATV and SSV vehicles. Whereas, Asia-Pacific is also anticipated to exhibit highest growth rate / CAGR over the forecast period 2019-2026. Factors such as increasing off-road activities and rising preference for off-road motorcycling and dirt bike events, increasing disposable income would create lucrative growth prospects for the ATV & SSV market across Asia-Pacific region.
Major market player included in this report are:
Pirelli & C. S.p.A.
Yokohama Rubber Company
Zhongce Rubber Group Co., Ltd.
The Goodyear Tire & Rubber Company
The Hankook Tire & Technology group
Cheng Shin Rubber Industry Co.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
Rest of the World
Furthermore, years considered for the study are as follows:
Historical year – 2016, 2017
Base year – 2018
Forecast period – 2019 to 2026
Target Audience of the Global ATV & SSV Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Value-Added Resellers (VARs)
Third-party knowledge providers