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The All-terrain vehicle (ATV) transmission system market size is forecast to increase by USD 174.5 million, at a CAGR of 4.37% between 2023 and 2028. Several factors play a crucial role in the market's growth, such as the increase in ATVs with automatic transmission, the rising demand for ATVs, and the increasing demand for vehicles for recreational and adventurous sports activities.
The report offers extensive research analysis on the All-Terrain Vehicle (ATV) Transmission System Market, with a categorization based on End-user, including OEM and aftermarket. It further segments the market by Application, encompassing utility ATV and sport ATV. Additionally, the report provides Region segmentation, covering APAC, Europe, North America, the Middle East and Africa, and South America. Market size, historical data (2018-2022), and future projections are presented in terms of value (in USD million) for all the mentioned segments.
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Our researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
One of the key factors driving the all-terrain vehicle (ATV) transmission system market growth is the increase in ATVs with automatic transmission. Automatic transmission systems are more expensive than manual transmission systems owing to the greater use of electronics. Therefore, the greater adoption of automatic transmission systems in ATVs will generate more revenues for the global all-terrain vehicle (ATV) transmission system market.
Moreover, prominent companies such as Polaris Inc., Yamaha Motor Co. Ltd., and Honda Motor Co. Ltd. are offering ATVs with an automatic transmission system (mostly dual-clutch transmission). In addition, the demand for automatic ATVs has seen an upward trend over the last few years, which has resulted in high sales. Hence, such factors are positively impacting the all-terrain vehicle transmission system market. Therefore, it is expected to drive the market growth during the forecast period.
A key factor shaping the all-terrain vehicle (ATV) transmission system market growth is the increasing number of ATV experience zones. Several prominent ATV manufacturers have been increasingly conducting activities and events to promote ATVs to increase the awareness and popularity of ATVs among consumers. In addition, on this front, manufacturers are coming up with dedicated experience zones that can create newer product demands.
For instance, Polaris Inc. has been developing its Polaris Experience Zone (PEZ) in countries including the US, Germany, and India to increase its customer base. In addition, in such experience zones, the consumers and off-road enthusiasts get a chance to experience off-road vehicles such as ATVs, and in the process, creates more visibility about ATVs among consumers, which drives the market sales. Furthermore, there has been an increase in the number of PEZs over the past five years. Hence, such factors are positively impacting the ATV transmission system market. Therefore, it is expected to drive the market growth during the forecast period.
The high production cost of advanced ATV transmission systems is one of the key challenges hindering the all-terrain vehicle (ATV) transmission system market growth. The development of conventional ATV transmission systems requires the use of sophisticated features such as electronic controls, smart sensors, and automatic transmission. In addition, while these advances improve performance and user experience, they contribute to higher manufacturing costs.
Moreover, high-tech components, R&D spending, and precision engineering raise production costs, providing a pricing competitiveness problem for market participants. In addition, transmission systems coupled with electronic fuel injection (EFI) and clever torque management systems improve ATV economy while increasing total cost. Furthermore, striking a balance between supplying cutting-edge technology and retaining competitive pricing becomes critical for manufacturers is a challenge in the global all-terrain vehicle (ATV) transmission system market and meeting the different expectations of consumers. Hence, such factors are negatively impacting the ATV transmission system market. Therefore, it is expected to hinder the market growth during the forecast period.
The market research report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global All-Terrain Vehicle (ATV) Transmission System Market Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Bombardier Recreational Products Inc: The company offers all terrain vehicle transmission system such as Continuously Variable Transmission for their own Can Am ATVs.
The research report also includes detailed analyses of the competitive landscape of the market and information about 10 market companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The OEM segment is estimated to witness significant growth during the forecast period. The growth of the OEM segment is fuelled by strong development prospects. In addition, OEMs, such as Polaris Inc. and Yamaha Motor Co. Ltd., drive market expansion by incorporating innovative transmission systems into their ATV models. Furthermore, the growing demand for ATVs in a variety of applications, including recreational, agricultural, and military, boosts the growth of the OEM segment as an end-user in the global all-terrain vehicle (ATV) transmission system market.
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The OEM segment was the largest segment and was valued at USD 486.98 million in 2018. Moreover, manufacturers consistently engage in R&D to produce revolutionary gearbox technology that improves ATV performance. In addition, the OEM segment is primed for growth due to an increase in off-road adventures and utility applications of ATVs. Furthermore, market elements such as economic conditions, regulatory changes, and shifting customer tastes can all have a limiting impact on market dynamics, necessitating continual adaptation to sustain growth in the global all-terrain vehicle (ATV) transmission system market. Hence, such factors are fuelling the growth of this segment which in turn drives the market growth during the forecast period.
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North America is estimated to contribute 59% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. Some of the main revenue-generating countries for the ATV transmission system in North America include Canada and the US. In addition, the high popularity and demand for off-road vehicles such as ATVs in the US and Canada have contributed to the regional all-terrain vehicle transmission system market share. Moreover, the presence of numerous off-road adventure activities in North America has also played an important role in driving the popularity and sales of ATVs. Furthermore, this has directly contributed to the revenue generation of the all-terrain vehicle (ATV) transmission system market in North America. Hence, such factors are driving the market growth in North America during the forecast period.
The all-terrain vehicle (ATV) transmission system market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2018 to 2028.
All-Terrain Vehicle (ATV) Transmission System Market Scope |
|
Report Coverage |
Details |
Page number |
158 |
Base year |
2023 |
Historic period |
2018-2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 4.37% |
Market Growth 2024-2028 |
USD 174.5 million |
Market structure |
Concentrated |
YoY growth 2023-2024(%) |
4.29 |
Regional analysis |
North America, Europe, APAC, Middle East and Africa, and South America |
Performing market contribution |
North America at 59% |
Key countries |
US, Canada, Germany, UK, and France |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
Bombardier Recreational Products Inc., Gibbs Amphibians Ltd., Hilliard Corp., Honda Motor Co. Ltd., Kawasaki Heavy Industries Ltd., Polaris Inc., Suzuki Motor Corp., Tecumseh Products Co. LLC, Yamaha Motor Co. Ltd., and ZF Friedrichshafen AG |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this market research report to meet your requirements.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by End-user
7 Market Segmentation by Application
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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