The global all-terrain vehicle market was worth USD 3.1 billion in 2021 and is expected to rise to USD 5.2 billion by 2028 at a CAGR of 6.1%.
FrequentlyAsked Questions
The global all terrain vehicles market is projected to grow owing to the increasing applications and demand for ATVs in military operations. A well-equipped and resourced defense sector is important for the safety and growth of any economy as it not only provides protection to civilians but also helps the nation market itself as a powerful nation on the world map.
According to study, the global all terrain vehicles market size was worth around USD 3.1 billion in 2021 and is predicted to grow to around USD 5.2 billion by 2028 with a compound annual growth rate (CAGR) of roughly 6.1% between 2022 and 2028.
The global all terrain vehicles market is projected to be dominated by North America as it was in 2021 owing to the high market penetration and availability of ATVs. The US was the first country to invest in ATVs and use them for multiple purposes. The regional expansion is anticipated to be driven by the presence of some of the key players in the US.
The global all terrain vehicles market is home to players like Hisun, Suzuki Motor Corporation, Bombardier Recreational Products, Polaris, Yamaha Motor Corporation, and Arctic Cat Inc., amongst others.
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