All-terrain vehicles (ATVs) are vehicles with treads or wheels with low pressure tires. They are saddle straddled by riders and have handle bars for steering controls. ATVs are designed to travel off-road. These vehicles are also known as quads, quad bikes, three-wheelers, four-wheelers or quadricycles. All-terrain vehicles possess the strength or endurance to cover miles of terrain full of dirt, sand, mud, gravel, and rocks. These vehicles are specifically designed for outdoor and off-road terrain. Apart from excellent off-road capabilities, all-terrain vehicles can carry heavy equipment for miles on locations having narrow access points, where it would not be possible to ride larger vehicles.
All-terrain vehicles offer many advantages over normal utility vehicles (UTVs) like excellent off-road capabilities, ability of carrying heavy equipment for miles on locations having narrow access points, where it would not be possible to ride larger vehicles. These vehicles can also be modified for high-performance riding. These advantages provided by the all-terrain vehicles are expected to boost the all-terrain vehicles market during the forecast period.
Efforts undertaken to improve the technology used in ATVs such as the addition of power steering, four-wheel independent suspension, electronic fuel injection, and complex four-wheel drive systems are expected to fuel the all-terrain vehicles market during the forecast period. The development of electric ATVs are expected to help reduce emissions and noise along with their low cost are expected to further boost the all-terrain vehicles market during the forecast period.
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The increasing risk of accidents caused due to the use of the ATVs flipping or rolling are expected to restrict the all-terrain vehicles market during the forecast period.
Based on type, the all-terrain vehicles market is segmented into: utility ATVs, sports ATVs, and four wheel drive sport ATVs. Utility ATVs are the most used type of ATVs. These ATVs are larger and heavier than sports ATVs and are designed for heavy work operations.
In terms of type of engine used in ATVs, the market is classified into two-stroke engine and four-stroke engine. In the four stroke engine, there are four different strokes of the piston in the cylinder: intake, compression, combustion, and exhaust. While, in the two stroke engine the exhaust and intake are combined into one stroke and compression and combustion are combined into another. Two-stroke engines are simpler, lighter, and generate twice the power and are primarily used in applications where the power-to-weight ratio is a crucial factor.
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Based on the number of wheels, the all-terrain vehicles market is segregated into two-wheeled, three-wheeled, and four-wheeled ATVs. In terms of source of power for operation, the market is segmented into gas-charged ATVs and electric ATVs. Electric ATVs help reduce emissions as compared to gas charged ATVs, and thus find promising applications in agriculture.
Based on the type of braking system, the all-terrain vehicles market is classified into hydraulically actuated disc brake, drum brake, combination of disc and drum brake, and others. Hydraulically actuated disc brake can involve either single hydraulic actuation or double hydraulic actuation. In terms of end-use application, the all-terrain vehicles market is divided into sports & recreation, outdoor riding & trekking, and ranching & agriculture.
Based on the geography, the all-terrain vehicles market is segmented into North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. The all-terrain vehicles market in North America is expected to dominate the global market due to the booming automotive industry, increase in outdoor trailing, and sport recreational activities in the region.
Key players operating in the all-terrain vehicles market are Yamaha Motor Co. Ltd., Honda Motor Co. Ltd., Kawasaki Motors Corp., Suzuki Motor Corporation, Polaris Industries Inc., Arctic Cat Inc. and Bombardier Recreational Products (BRP).