Pune, India, July 25, 2019 (GLOBE NEWSWIRE) -- The new report published by Market Research Future (MRFR), the global all-terrain vehicle engines market is projected to achieve a CAGR of 5.38% during the forecast period of 2018-2025. As the name signifies, an all-terrain vehicle is designed to operate on multiple types of terrains. All-terrain vehicle engines are designed using cylinders and are head canted forwards to enhance easier control and maneuverability to the driver. Rising demand for all-terrain vehicles in the tourism sector is expected to drive the global ATV engines market primarily. A growing affinity of consumers towards adventure tourism is fueling the market growth for all-terrain vehicles. High-performance engines are developed in recent years, creating new growth opportunities for the players in the all-terrain vehicle (ATV) engines market. Further, a vast range of all-terrain vehicles have been introduced to the market, pushing the original equipment manufacturers (OEMs) to invest considerably in the development of better engines.
Moreover, an upscale in the popularity of all-terrain vehicles as an outdoor recreation activity has influenced the augmentation of the ATV engines market during the assessment period. A rising number of niche ATV experience zones created by ATV companies has pushed the global all-terrain vehicle engines market to a great extent. While all-terrain vehicles are generally used for recreational purposes, the use of the same has gained enormous traction in the industrial and agricultural setting as well.
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Moreover, ATV circuits are observed to be on the rise in America and many developing countries across the globe. For instance, Polaris India, an ATV manufacturing company, has created more than 80 ATV experience zones all over India. Also, governments across the US including the Bureau of Land Management, National Park Service, and Federal Highway Administration have taken several initiatives to capitalize on the growing demand for all-terrain vehicles, augmenting the ATV engines market in the region.
Market Segmentation
The global all-terrain vehicle (ATV) engines market is segmented by MRFR for specified analysis and better understanding. The all-terrain vehicle (ATV) engines market is segmented on the basis of application, type, power, and region. Based on type, the global all-terrain vehicle (ATV) engines market is segmented into 0-300cc, 300-500cc, 500-800cc, 800-1000cc, and 1000cc. The 500-800cc segment holds 30.39% share of the market and is estimated to record a 5.53% CAGR during the forecast period. 500-800cc engines are specifically designed for heavy function performance and can haul heavier objects, like pulling a trailer. With the 500-800cc segment being the frontrunner, the 800-1000cc segment is expected to garner the second largest share with more than 25% by 2025.
Based on power, the global All-Terrain Vehicle Engines Market is segmented into up to 80HP and above 80HP. The up to 80HP segment is currently observed to hold the biggest market share. It is also expected to retain the largest market share, registering 5.43% CAGR, during the forecast period.
On the basis of application, the global all-terrain vehicle engines market is segmented into OEM and aftermarket. The OEM segment is currently dominating the global ATV engines market with more than 86% market share owing to the growing to the demand and sale of ATV engine components. The OEM segment is anticipated to advance at 5.35% CAGR through the assessment period.
The United States to Dominate Global All-Terrain Vehicles (ATV) Engines Market During 2018-2025
Based on region, the global all-terrain vehicle (ATV) engines market is segmented into Europe, China, Japan, South Korea, India, the United States, and Rest of the World. Presently, the United States is projected to dictate the global all-terrain vehicle engines market and are likely to do the same in the coming years. Attributable factors to such growth can be the construction of numerous ATV experience zones in the region, augmented use of ATVs in adventure tourism, advanced engine, and transmission system. In 2017, the United States held a 45.73% share of the global all-terrain vehicle engines market, with Europe in second place, holding a 19.6% share and the Rest of the World opting for 16.01% share during the assessment period.
Prominent Market Players
The MRFR report contains a profiling of many noteworthy players in the global all-terrain vehicle engines market including RP-Rotax GmbH & Co KG, Honda Motor Co., Ltd., Suzuki motor corporation, Textron Inc., Polaris Industries, Inc., Kawasaki Heavy Industries, Ltd., Massimo Motor Sports, LLC, Yamaha Motor Co., Ltd., Taiwan Golden Bee Co. and CFMOTO.
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Industry Update
May 2019: American Hunter’s Golden Bullseye Awards announced Yamaha Kodiak 450 as the 2019 vehicle of the year. The Kodiak 450 features a fuel-injected and water-cooled, single-cylinder 421cc engine. This engine features a two-valve cylinder head and overhead cam that enables the production of low-to-mid-range torque which is accessed upon squeezing a new, user-friendly thumb throttle.
March 2019: Race Winning Brands, Inc. recently acquired CV4 to become a part of the Wiseco Performance Products division. CV4 is a leading brand in the powersports market that supplies thermal management products to race teams and enthusiasts across the globe. Wiseco has more than 75 years of experience in the powersports business, manufacturing engine components and high-performance forged pistons for various racing vehicles including motorcycles, snowmobiles, personal watercraft, as well as, all-terrain vehicles.
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