ATV (All-Terrain vehicle) & SSV (Side by Side Vehicles) are types of off-road vehicles. The ATV is usually made for a single rider, which is suited for making quick turns and operates well in tight woods. While SSVs are operated with a 2 to 6-person capacity and four-wheel drive. SSVs come factory-equipped with a rollover protection structure. Numerous vehicles also come equipped with hardtops, windshields, and even cab enclosures. These vehicles are generally used for recreational sports and races on off-road tracks. These are also gaining adoption in the agricultural and military industries.
According to the study, “Global ATV & SSV Market to reach USD XXX million by 2026” the key companies operating in the global ATV & SSV market are Pirelli & C. S.p.A., The Goodyear Tire & Rubber Company, Continental AG, Zhongce Rubber Group Co., Ltd., Bridgestone Corp., The Hankook Tire & Technology Group, Yokohama Rubber Company, Michelin, Cheng Shin Rubber Industry Co. and Sumitomo Corp.
Based on type, ATV & SSV market is segmented as ATV (utility ATV and sport ATV) and SSV. Based on the drive type, the market is segmented as 2WD, 4WD, and AWD. AWD ATVs segment is projected to witness a higher growth rate owing to an increase in ATV production and a rise in focus on safety features during the forecast period. Based on fuel type, the market is segmented as electric ATV and gasoline. Based on engine type, the market is segmented as <400 CC, 400 to 800 CC and >800 CC. Based on seating capacity, the market is segmented as one seat and two-seat. The two-seat ATVs segment holds major share in the market due to the rise in demand in the agriculture and military sector. In addition, based on end-use, the market is segmented as family leisure, game, and others.
The ATV & SSV market is driven by growth in recreational and touring activities, followed by an increase in purchasing power & spending capacity of individuals, growth in economy and rise in demand for ATVs in agriculture and military & defense. However, restriction on ATV usage in wildlife zones and high accident rates may impact the market. Moreover, a positive outlook toward electric ATVs and growth in technological improvements are key opportunities for the market.
Based on geography, the North-American is the dominant region in global ATV & SSV market owing to high disposable income of the population along with the rise in the inclination of the people towards various adventure & recreational sports which includes the use of ATV & SSV vehicles. Whereas, the European and Asian-Pacific regions are anticipated to exhibit substantial growth rate due to an increase in off-road activities and rise in preference for off-road motorcycling & dirt bike events over the forecast period. In the near future, it is estimated that the global ATV & SSV market will be reached at a rapid pace as a result of a surge in scope for new & advanced technologies, increase in government regulations regarding ATV designs coupled with a rise in demand in applications such as agriculture, sports, military, entertainment, hunting, forestry, mining, and construction activities during the forecast period.
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