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North America is the leading region of the global all-terrain vehicle market, with the United States and Canada taking the bulk of regional market share. The Asia Pacific, although relatively smaller market, is projected to experience one of the fastest growth in the forecast period due to the increased spending on recreational activities, particularly in emerging economies such as China and India. The expansion of the major players in the region is also aiding the Asia Pacific all-terrain vehicle market. In 2016, Polaris (NYSE: PII), a United States-based all-terrain vehicle manufacturer, started importing CKD (completely knocked down) all-terrain vehicles to India from China to provide price-sensitive Indian consumers a more affordable option in the vehicles. The company also planned to double its import by 2017, thus, solidifying its foothold in the Indian market.
An all-terrain vehicle (ATV) is a single-seater/multi-seater motorized tri- or quadricycle bike and buggy designed for off-road travel and activities. Such vehicles are known for their maneuverability and off-road capabilities and can be used in the military, survey, forestry, agriculture, sports, and other sectors. Their rising demand can be attributed to the growing need for a lightweight, heavy-duty vehicle with high fuel efficiency and multipurpose application. The growth of recreational parks, an increase in advertisements, and the growing popularity of off-road racing events have further pushed the market forward.
Market Analysis by Vehicle Type, Product Type, Application, and Region:
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The key players in the global all-terrain vehicle market include Yamaha Corporation, Honda Motor Co. Ltd., Arctic Cat Inc., Kawasaki Heavy Industries Ltd., CFMOTO, Inc., Suzuki Motor Corporation, Deere & Company, HISUN, and others. The report presents a detailed analysis of the above key players on the global market for all-terrain vehicle, examining their capacity, market shares, and the latest developments such as capacity expansion, plant turnarounds, and mergers and acquisitions.
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