Automotive & Transportation Industry All Terrain Vehicle Market Trends 2024

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All Terrain Vehicle Market - Industry Analysis, Size, Growth,
Trends and Forecast to 2024 - Hexa Research
" The global all terrain vehicle (ATV) market was
valued around USD 6 billion in 2015. It is expected
to grow at a CAGR of 5% during 2016 to 2024
(forecast period)."
The global All Terrain Vehicle Market was estimated at USD 6 billion in 2015. It will grow at a CAGR of around
5% during the forecast period (2016-2024). The market should exceed USD 9 billion by 2024. All terrain
vehicles (ATVs) are popularly known as quads, three-wheelers, quad bikes, or quadricycles.
ATVs are single-seated open motor vehicles with either three or more tires. These tires are specifically designed
for rough terrains. Quads are ridden over rugged grounds, sand dunes, or paved & unpaved roads. The growing
trend of recreational activities; such as off-roading and racing can also drive the market till 2024.
Demand for unique riding has increasingly led recreational centers to add ATVs to their amenities. The need for
technically advanced features is projected to raise product costs, hampering the market.
To reduce fatalities & injuries; regulatory bodies, like ASI (All-Terrains Vehicle Safety Institute) have
standardized the adoption of safety equipment. Protective gears; such as seatbelts, helmets, goggles, and
others are mandatory for quad riders.
Browse Details of Report @ https://www.hexaresearch.com/research-report/all-terrain-vehicle-market
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