Published on : Dec 31, 2020
All-terrain vehicles are those automobiles that have received certification from the American National Standards Institute (ANSI) in accordance with the standards as set out by ANSI. These vehicles are able to move even on low pressure tires and comes with a specialized seat for the purpose of straddling by the rider. These vehicles have gained prominence due to its ability to make easy access to rural and remote areas, as a replacement for the usual pack animals, and its effective use in combat zones. Growing popularity of these vehicles is likely to support growth of the global all-terrain vehicle (ATV) transmission system market in the years to come.
These vehicles are mainly popular due to its high level of maneuverability. As such, they are being increasingly used in a number of end use industries such as forestry, surveying, agriculture, military, and sports. As the application of all-terrain vehicles widen, the growth prospects of global all-terrain vehicle (ATV) transmission system market is also estimated to get better in near future.
The All-Terrain Vehicle (ATV) Transmission System market is considered somewhat fragmented with the presence of numerous market players. All of the players are vying for greater presence and wider reach in the market. Yamaha Motor Co., Ltd., Polaris Industries, Inc, AISIN SEIKI Co., Ltd., Honda Motor Co., Ltd. and BRP Inc. are some of the well-entrenched players in the global all-terrain vehicle (ATV) transmission system market.
Driven by Growing Popularity, Asia Pacific likely to Exhibit Rapid Growth in Near Future
The global all-terrain vehicle (ATV) transmission system market has been categorized broadly into the five key territories of North America, Latin America, Europe, Middle East and Africa, and Asia Pacific. The need for territory-based segmentation lies in the importance of an in-depth assessment of the regional markets over the years of projection.
Countries such as India and China have observed a surge in the demand for all-terrain vehicles in the last few years. This is owing to the augmented consumer awareness regarding all-terrain vehicles and their wide range of applications. A rise in the popularity of off-road adventure events and recreational activities has further bolstered the demand for all-terrain vehicles amongst the consumers. This has resulted in the advent of new original equipment manufacturers for all-terrain vehicles in the Asia Pacific region. A case in point is launching of several models of all-terrain vehicle models by companies like Polaris Inc, Yamaha Motor Company Limited, and Kawasaki Heavy Industries Ltd in India. Rising demand for these vehicles is likely to propel growth of the global all-terrain vehicle (ATV) transmission system market in Asia Pacific.
Rise in Outdoor Sports Activities is likely to Stoke up Demand in the Market
The speedy rise in the outdoor sports activity is likely to lead to a high demand for all-terrain vehicles, thanks to its excellent capabilities of terrain navigation. Progress made in terms of technology and user friendliness also likely to widen the scope of the global all-terrain vehicle (ATV) transmission system market in forthcoming years.
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Market players are rapidly taking up techniques of performance optimization to enhance the overall performance of all-terrain vehicles. For instance, many market players are coming up with the invention of a two-stage transaxle. It is a mechanism that betters the transmission system’s performance through reduction of rotating inertial mass. A few of the market players are taking up high end manufacturing materials and techniques to lessen transaxle’s weight so as to obtain better acceleration. Developments such as this are likely to amplify expansion of the global all-terrain vehicle (ATV) transmission system market in the years to come.
On the other hand, use of all-terrain vehicles comes with an adverse effect on water, air, habitat, soil, vegetation, and wildlife. This factor is likely to restrain growth of the market over the assessment period.