Increasing Adoption of Recreational Off-road Activities to Drive South America All Terrain Market
Technological developments,
growing use for both recreational and agricultural purposes, and launch of new
models to fuel South America all terrain vehicle market through 2023
According to TechSci Research report, “South
America All Terrain Vehicle Market By Product Type, By Application Type, By
Country, Competition Forecast & Opportunities, 2013 – 2023”, all terrain vehicle market in South America is
projected to reach $ 450 million by 2023, on account of growing consumer
preference for recreational and adventurous sports backed by rising disposable
income. Technological developments, increasing number of off-roading sports
activities and tournaments, and growing application areas of ATVs are among the
major factors expected to drive the region’s all
terrain vehicle market in the coming years. Some of the major players in
the market are Polaris Industries Inc., Honda Motor Co., Ltd., Kwang Yang Motor
Co, Ltd, Yamaha Motor Co., Ltd. and BRP Inc.
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Utility all terrain vehicles have high engine
displacement and greater load carrying capacity, owing to which they are widely
used across the region. Moreover, manufacturers are launching utility ATVs with
advanced infotainment systems and flexible modular design. Backed by all these
factors, in addition to utility ATVs’ growing application in agriculture and
industrial sectors, the segment is anticipated to account for the largest
market share in the coming years.
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“With rise in per capita income, increasing
tourist footfall and growing demand from the youth population, Brazil holds the
largest share in South America all terrain vehicle market, which is also being
supported by launch of several new models, increasing penetration of Chinese
players and reducing component manufacturing prices. In the coming years as
well, major players are anticipated to boost their dealer and distributor
networks in the region to meet the growing demand for ATVs.”, said Mr. Karan
Chechi, Research Director with TechSci Research, a research based Global management
consulting firm.
“South America All
Terrain Vehicle Market By Product Type, By Application Type, By Country,
Competition Forecast & Opportunities, 2013 – 2023” has analyzed the potential of South America 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 South America all
terrain vehicle market.
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