The Europe ATV and UTV market is anticipated to record a CAGR of 5.60% during the forecast period, 2022-2030. The introduction of the new range of UTV and ATV models, increasing trend of adventure sports, and innovations and advancements in such vehicles, drive market growth.
Germany, Italy, Poland, Russia, Belgium, France, the United Kingdom, and Rest of Europe, are assessed for the Europe ATV and UTV market growth analysis. Germany is a conducive market due to its central and southern regions and the presence of mountains and forested hills. Also, the landscaping and agriculture activities have surged the import and implementation of these vehicles. Many nature parks have these recreational vehicles for domestic and other chores in hauling, horticulture, timber cutting, herding, winching, etc. Moreover, several manufacturers are launching new lines of these vehicles with advanced technologies like greater torque and higher horsepower.
In Italy, the rising demand for sports and recreational activities propels the market growth. Additionally, several players are launching technologically advanced vehicles. Poland is geographically conducive for market growth. Zakopane, a town in the country’s extreme south, welcomes more than 2500000 tourists every year. The tourist activities include sleigh rides, ice skating, ski jumping, snowboarding, skiing, etc. In Spain, the government investments in advanced and efficient agriculture and forestry machinery due to the growing demand for food fuel market growth. This is because these vehicles can facilitate swift and easy transport supplies across farms. Such factors enable growth in these countries.
Some of the leading companies in the market are Honda Motor Company Ltd, Polaris Industries Inc, Suzuki Motors Corporation, Kubota Corporation, Kawasaki Heavy Industries Ltd, etc.
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