The analysts forecast the global sports ATV equipment market to grow at a CAGR of 5.03% during the period 2017-2021.
The global sports ATV equipment market displays a moderate growth potential owing to the growing interest in off-road adventure activities, increasing number of government regulations mandating the use of protective gear, and technological advancements. The report covers the present scenario and the growth prospects of the global sports ATV equipment market for 2017-2021. To calculate the market size, the report considers the revenue generated from the retail sales of sports ATV equipment to individual consumers. The report also includes a discussion of the Key vendors operating in this market.
The latest trend gaining momentum in the market is advent of eco-friendly ATVs. As a result of the growing concern about preserving the environment, sporting goods manufacturers across the globe are adopting ways that make the product environmentally more responsible and eco-friendly in nature. ATVs are normally not known for being very environment-friendly in nature, while most of the vehicle's emissions are harmful to nature. With an increasing number of cars and trucks turning toward diesel, ATVs are also seen moving in the same direction.
According to the report, one of the major drivers for this market is growing popularity of off-road recreational activities. The number of sports enthusiasts for activities like backpacking, scuba diving, rafting, snorkeling, mountain biking, and dirt racing has been increasing. The popularity of such activities can be attributed to the need for leisure with a busy lifestyle of today's global population, especially in the urban areas.
Further, the report states that one of the major factors hindering the growth of this market is high risk of injuries associated with riding the vehicle. Inability to properly handle ATVs, lack of proper regulations, and fast driving are a few of the reasons that have resulted in a rise in the number of ATV accidents among the under 16-year populaces. Proper guidelines and precautions while riding ATVs need to be followed to help avoid injuries and deaths occurred during ATV rides.
Honda Motor Company
Yamaha Motor Corporation
Other prominent vendors
Key Topics Covered:
Part 01: Executive summary
Part 02: Scope of the report
Part 03: Market research methodology
Part 04: Introduction
Part 05: Market landscape
Part 06: Market segmentation by product
Part 07: Market segmentation by distribution channel