Increasing use of all terrain vehicles in various sectors drives the India All Terrain Vehicle Market in the forecast years.
According to TechSci report on, “India All Terrain Vehicle Market By Product Type (Utility ATV, Sports ATV & Youth ATV) By Engine Displacement (Low, Medium & High) By Application (Entertainment, Sports, Agriculture & Others) By Region (South, West, North, East), Competition Forecast & Opportunities, FY2027”, India All Terrain Vehicle market has shown promising growth in historical years until FY2020 and is expected to continue its growth in upcoming forecast years FY2022 to FY2027. Tourism sector in India is growing at a rapid rate, the demand for all terrain vehicle is also increasing because of booming tourism thus driving the growth of the market in the forecast years. Moreover, the government is taking initiatives for providing advancement in technology and thereby enabling usage of maneuverable all terrain vehicle thus supporting the growth of the market.
The report on India All Terrain Vehicle market is segmented by product type, engine displacement, application, and regional distribution. Based on application the market is further segmented into entertainment, sports, agriculture, and others. All terrain vehicles have uses in almost all sectors. Defence, entertainment, sports, agriculture, infrastructure construction, heavy-load transportation, among others. Agriculture sector dominates as an application segment for the all terrain vehicle in India market. Uses of ATVs in agriculture and forestry is prevalent thus driving the growth of the market.
Indian economy was widely affected by the pandemic that set foot in early FY2020. India All Terrain Vehicle market was not untouched, either. While observing the lockdown, all the sectors were shut down. No construction was going on, and no sports or off-road activities were allowed. This slowed down the market a bit in the first quarter, but after observing a setback, All Terrain Vehicle market is expected to revisit its growth and show a promising future. Furthermore, increasing population and infrastructure requirements also drive the All Terrain Vehicle market growth.
Some of the major players in the India all terrain vehicle market is Polaris Industries, Phoenix Moto. Corp., Powerland Agro Tractor Vehicles Pvt ltd, Nebula Automotive Pvt Ltd., Honda Motor Company, Ltd., Suzuki Motorcycle India Private Limited, India Yamaha Motor, India Kawasaki Motors Private Limited, Kwang Yang Motor Co, Ltd, (KYMCO), Gapuchee ATV India, among others. The companies are focusing on extensive research and developments activities in order to stay competitive in the market. Other competitive strategies include formation of alliances and partnerships.
According to TechSci report “India All Terrain Vehicle market is expected to witness significant growth during the forecast period. Moreover, improvisations in the processing and production technologies will influence Indian All Terrain Vehicle market toward growth. New investors may explore these production technologies and processes to influence their businesses. Urbanization is still prevailing in the country and requirement of better infrastructure is always a necessity thus making India all terrain vehicle market a promising sector for future growth,” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
“India All Terrain Vehicle Market By Product Type (Utility ATV, Sports ATV & Youth ATV) By Engine Displacement (Low, Medium & High) By Application (Entertainment, Sports, Agriculture & Others) By Region (South, West, North, East), Competition Forecast & Opportunities, FY2027” has evaluated the future growth potential of India All Terrain Vehicle market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in India All Terrain Vehicle market.