DUBLIN, March 25, 2022 /PRNewswire/ — The “All-terrain Vehicle Market Size, Share & Trends Analysis Report by Engine Type (Below 400cc, 400cc-800cc, Above 800cc), by Application Type (Agriculture, Sports, Recreation, Military & Defense), by Region, and Segment Forecasts, 2022-2030” report has been added to ResearchAndMarkets.com’s offering.
The global all-terrain vehicle market size is expected to reach USD 1.92 billion by 2030, registering a CAGR of 5.2% during the forecast period. The development of off-road terrains, trails, and recreational parks is projected to boost the demand for All-terrain Vehicles (ATVs) by 2030. Moreover, governments’ initiatives to enhance tourism and recreational activities have supported the sales of ATVs. For instance, the Travel Management & Off-Highway Vehicle (OHV) Program announced by the U.S. Forest Service aims to increase the awareness and popularity of trails in North America.
Factors such as the growing popularity of off-road racing events and increased advertising have fueled the demand for ATVs across the globe. For instance, in January 2019, the Desert Series Pro ATV tournament involved ATV enthusiasts and many off-road vehicles which contributed to the adoption of ATVs. Additionally, growth in investments from sponsors is anticipated to boost the growth of the market by 2030.
Over the past few years, economic growth in developing economies, such as India and China, has resulted in higher disposable incomes and purchasing power…
