Utility ATVs to Dominate Asia-Pacific All Terrain Vehicle Market until 2023
Growing
ATV application in agricultural and industrial sectors and increasing
off-roading sports activities to drive Asia-Pacific all terrain vehicle market
through 2023
According to TechSci Research report, “Asia-Pacific
All Terrain Vehicle Market By Product Type, By Application Type, By Country,
Competition Forecast & Opportunities, 2013 – 2023”, all terrain vehicle (ATV) market in
Asia-Pacific is projected to reach $ 1.57 billion by 2023, on the back of rising
technological developments in ATVs, increasing off-roading vehicle activities
and huge demand for ATVs from youth population across the region. Moreover,
increasing number of off-roading sports tournaments and growing usage of all
terrain vehicles for defense and agricultural purposes are few of the other prominent
factors expected to boost the sales of all terrain vehicles in the region in
coming years.
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Utility all terrain vehicle segment accounts for
the largest share in Asia-Pacific all terrain vehicle market. The leading position
is being backed by the extensive application usage of utility ATVs in various
industries, owing to their load carrying capacity, easy maintenance, economic
pricing and several other advantages over sports ATVs. On account of all these
features, the segment is anticipated to maintain its dominance in the region’s all
terrain vehicle market over the next five years. Major all terrain vehicle manufacturers
in the region are anticipated to increase their efforts to provide a wide range
of products in this segment to meet varied customer requirements.
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“Growing per capita income, availability of a wide
range of products, entry of several international brands and increasing
commercialization of ATVs are among the key factors driving the sales of all
terrain vehicles in Asia-Pacific. Moreover, increasing number of Chinese all terrain
vehicle manufacturers in the region is expected to result in intense
competition due to competitive pricing strategy, thereby positively influencing
the region’s ATV market during the forecast period.”, said Mr. Karan Chechi,
Research Director with TechSci Research, a research based global management
consulting firm.
“Asia-Pacific All
Terrain Vehicle Market By Product Type, By Application Type, By Country,
Competition Forecast & Opportunities, 2013 – 2023” has
analyzed the potential of Asia-Pacific all terrain vehicle market, and provides
information and statistics on market structure and trends. The report will
suffice in providing the intending clients with cutting-edge market
intelligence and help them in taking sound investment decisions. The report
also identifies and analyzes emerging trends along with essential drivers and
key challenges faced by the Asia-Pacific all terrain vehicle market.
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