LONDON–(BUSINESS WIRE)–COVID-19 market impact analysis anticipates Negative and Inferior growth of the ATV steering system market, while 32% of the market’s growth will originate from APAC during the forecast period, according to Technavio report Global ATV steering system market with COVID-19 analysis.
The rising demand for military and defense operations will be one of the major factors that will drive ATV steering system market growth during the forecast period. One of the prominent vendors, John Deere manufactures customized vehicles specifically for the government of the U.S., as these vehicles are used for military and defense applications. Additionally, John Deere has signed a contract with the GSA and has made the M-Gator UV mainly for the military. Such contracts will boost the manufacturers to introduce vehicles for different applications. Similarly, in Canada, the military had signed an agreement with Polaris industries to get turbo diesel ATVs that are suited for usage in extreme weather off-road conditions. This growing demand for ATVs for military and defense operations will propel the growth of the global ATV steering system market. Furthermore, this industry research report also presents a competitive analysis of the market by end-user (OEMs and aftermarket) and geography (APAC, Europe, MEA, North America, and South America).
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Competitive vendor landscape
The global ATV steering system market is highly competitive with major vendors such as Allied Motion Technologies Inc., Bombardier Recreational Products Inc., Honda Motor Co. Ltd., Maval Industries LLC, Polaris Inc., Showa Corp., Soucy Holding Inc., SuperATV LLC, Suzuki Motor Corp., and Yamaha Motor Co. Ltd., competing based on price, quality, and market presence.
“Apart from the demand for military and defense operations, the Increasing use of vehicles for recreational and adventurous sports activities and rising adoption of ATVs in the agriculture sector are some other major factors that will boost market growth during the forecast period,” says a senior analyst at Technavio.
Top Five ATV Steering System Market Vendors
Allied Motion Technologies Inc.
Allied Motion Technologies Inc. operates its business under a unified segment. The company manufactures ATV steering system, including electric power assist steering systems.
Bombardier Recreational Products Inc.
Bombardier Recreational Products Inc. operates its business under powersports and marine segments. The company manufactures steering systems for its ATVs, through Can-Am.
Honda Motor Co. Ltd.
Honda Motor Co. Ltd. has business operations under various segments, namely motorcycle business, automobile business, financial services business, power product and other businesses. The company manufactures steering systems for its ATVs.
Maval Industries LLC
Maval Industries LLC operates its business under a unified segment. The company manufactures ATV steering system, including electronic power steering systems, through its subsidiary, Wicked Bilt.
Polaris Inc.
Polaris Inc. operates its businesses under segments: off-road vehicles/snowmobiles, motorcycles, global adjacent markets, aftermarket, and boats. The company manufactures ATV steering system, including electronic power steering systems for its ATVs.
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Table of Contents:
Executive Summary
Market Landscape
- Market ecosystem
- Value chain analysis
Market Sizing
- Market definition
- Market segment analysis
- Market size 2019
- Market outlook: Forecast for 2019-2024
Five Forces Analysis
- Five forces summary
- Bargaining power of buyers
- Bargaining power of suppliers
- Threat of new entrants
- Threat of substitutes
- Threat of rivalry
- Market condition
Market Segmentation by End user
- Market segments
- Comparison by End user
- OEMs – Market size and forecast 2019-2024
- Aftermarket – Market size and forecast 2019-2024
- Market opportunity by End user
Customer landscape
Geographic Landscape
- Geographic segmentation
- Geographic comparison
- North America – Market size and forecast 2019-2024
- Europe – Market size and forecast 2019-2024
- APAC – Market size and forecast 2019-2024
- MEA – Market size and forecast 2019-2024
- South America – Market size and forecast 2019-2024
- Key leading countries
- Market opportunity by geography
- Volume drivers – Demand led growth
- Market challenges
- Market trends
Vendor Landscape
- Overview
- Vendor landscape
- Landscape disruption
Vendor Analysis
- Vendors covered
- Market positioning of vendors
- Allied Motion Technologies Inc.
- Bombardier Recreational Products Inc.
- Honda Motor Co. Ltd.
- Maval Industries LLC
- Polaris Inc.
- Showa Corp.
- Soucy Holding Inc.
- SuperATV LLC
- Suzuki Motor Corp.
- Yamaha Motor Co. Ltd.
Appendix
- Scope of the report
- Currency conversion rates for US$
- Research methodology
- List of abbreviations
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