Europe and CIS All Terrain Vehicle Market to Surpass $ 2 Billion by 2023

Technological developments and increasing recreational off-roading activities to fuel Europe & CIS all terrain vehicle market through 2023

According to TechSci Research report, “Europe & CIS All Terrain Vehicle Market By Product Type, By Application Type, By Country, Competition Forecast & Opportunities, 2013 – 2023”, all terrain vehicle market in Europe & CIS is projected to reach $ 2.14 billion by 2023. Increasing application of ATVs in sports, agriculture, etc., in addition to technological developments in all terrain vehicles and growing tourism industry in the region are among the key factors expected to boost demand for all terrain vehicles in the coming years. Moreover, growing use of all terrain vehicles for defense purposes and recreational off-roading activities such as hunting, leisure trips and trekking are likely to aid the market in the coming years. 

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Widespread use of utility ATVs owing to their several advantages such as load carrying capacity, easy maintenance and economic pricing when compared with sports ATVs is expected to enable the segment to account for the largest share in the region’s all terrain vehicle market during forecast period. Additionally, these ATVs are capable of running on rough and rigged terrain, which results in huge demand, and thus ATV manufacturers are anticipated to focus on this segment by offering a wide range of ATVs with advanced features in the coming years. Italy is the largest market for all terrain vehicles in the region and huge sales of all terrain vehicles in the country are backed by growing tourism industry and increasing demand from the young population.

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“Over the last few years, usage of ATVs across the defense, agriculture, forestry and entertainment sectors has grown at a healthy pace across the region, on the back of growing per capita income, availability of a wide range of products and commercialization of ATVs. Moreover, increasing number of Chinese all terrain vehicle manufacturers are giving intense price competition to flagship players. All these developments are expected to have a positive impact on the all terrain vehicle market in Europe & CIS region over the course of next five years,”, said Mr. Karan Chechi, Research Director with TechSci Research, a research based Global management consulting firm.

“Europe & CIS All Terrain Vehicle Market By Product Type, By Application Type, By Country, Competition Forecast & Opportunities, 2013 – 2023” has analyzed the potential of Europe & CIS 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 Europe & CIS all terrain vehicle market.

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