The Europe ATV and UTV market is expected to surge with a 5.35% CAGR by the end of the forecast period, 2023-2032. Launch of improved new products with better quality and performance drives the market growth.
The Europe ATV and UTV market growth analysis includes the assessment of Italy, Poland, Germany, United Kingdom, France, Spain, and Rest of Europe. Spain’s government has invested heavily in agriculture and forestry machinery, which is advanced in technology and productivity. Further, the increasing demand for food has necessitated better technology in farm machinery used for agricultural operations. Moreover, the greatest advantage of ATVs and UTVs is their ability to quickly and easily transport supplies.
In contrast, Quad-bike, also known as ATV, has become available in Italy over recent years. However, a passion for the sport across the country has grown rapidly. In this regard, ATV excursion provides lucrative opportunities for the market’s growth. For example, Italy uses ATV and UTV vehicles for the majority of its sites since the route gradually changes from country road to off-road down a slope and towards a valley.
Furthermore, Poland plans to strengthen and reorganize its armed forces, with the domestic defense industry competing with other reforms financed through the state budget. As ATVs have core applications in defense, these developments are expected to fuel market growth in the country during the forecast period.
Some of the leading companies operating in the market include Kawasaki CFMOTO, Heavy Industries Ltd, Honda Motor Company Ltd, Yamaha Motors Co Ltd, etc.
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