LONDON–(BUSINESS WIRE)–The global ATV drivetrain system is expected to register a decremental growth of USD 25.43 million during 2020-2024, according to the latest market research report by Technavio. Request a free sample report
Consumers are exhibiting a strong demand for four-wheel ATVs owing to their superior performance on rough and uneven terrains. This is encouraging ATV manufacturers to offer the four-wheel-drive system as an added functionality or as a full-time system. Vendors are offering viscous couplings, which automatically detect the need for a four-wheel-drive system on a real-time basis. The introduction of such innovative four-wheel ATVs is attracting the interests of many off-road enthusiasts. Therefore, the growing demand for four-wheeled ATVs is one of the key factors driving the growth of the global ATV drivetrain system.
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As per Technavio, growing ATV experience zones will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other significant trends and market drivers that will influence market growth over 2020-2024.
Global ATV Drivetrain System Market: Growing ATV Experience Zones
ATV experience zones are widely present in developed markets such as North America and Europe. In order to increase the awareness and demand for utility vehicles such as ATVs in emerging markets such as India and SEA countries, vendors are focusing on increasing the number of ATV experience zones. These facilities allow customers to experience ATV rides in an artificial off-road field. For instance, in 2018, Polaris opened an experience zone in Bengaluru, Karnataka, India with focus on expanding its customer base. Therefore, the rise in the number of ATV experience zones will become crucial in driving the growth of the market.
“Increasing popularity of all-electric ATVs and advances in autonomous ATVs will further boost market growth during the forecast period,” says a senior analyst at Technavio.
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Global ATV Drivetrain System Market: Segmentation Analysis
This market research report segments the global ATV drivetrain system market by geography (APAC, Europe, MEA, North America, and South America) and application (utility ATV and sport ATV).
The North American region led the ATV drivetrain system market in 2019, followed by Europe, APAC, MEA, and South America respectively. During the forecast period, the APAC region is expected to register the highest decremental growth. This is due to the presence of prominent ATV manufacturers such as Honda, Kawasaki, Suzuki, and Yamaha in the region.
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Some of the key topics covered in the report include:
Market Drivers
Market Challenges
Market Trends
Vendor Landscape
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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