According to TechSci Research report, “South America All Terrain Vehicle Market By Product Type, By Application Type, By Country, Competition Forecast & Opportunities, 2013 – 2023”, all-terrain vehicle market in South America is projected to reach $ 450 million by 2023, on account of growing consumer preference for recreational and adventurous sports backed by rising disposable income. Technological developments, increasing number of off-roading sports activities and tournaments, and growing application areas of ATVs are among the major factors expected to drive the region’s all-terrain vehicle market in the coming years. Some of the major players in the market are Polaris Industries Inc., Honda Motor Co., Ltd., Kwang Yang Motor Co, Ltd, Yamaha Motor Co., Ltd. and BRP Inc.
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Utility all-terrain vehicles have high engine displacement and greater load carrying capacity, owing to which they are widely used across the region. Moreover, manufacturers are launching utility ATVs with advanced infotainment systems and flexible modular design. Backed by all these factors, in addition to utility ATVs’ growing application in agriculture and industrial sectors, the segment is anticipated to account for the largest market share in the coming years.
“With rise in per capita income, increasing tourist footfall and growing demand from the youth population, Brazil holds the largest share in South America all-terrain vehicle market, which is also being supported by launch of several new models, increasing penetration of Chinese players and reducing component manufacturing prices. In the coming years as well, major players are anticipated to boost their dealer and distributor networks in the region to meet the growing demand for ATVs.”, said Mr. Karan Chechi, Research Director with TechSci Research, a research based Global management consulting firm.
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“South America All Terrain Vehicle Market By Product Type, By Application Type, By Country, Competition Forecast & Opportunities, 2013 – 2023” has analyzed the potential of South America all terrain vehicle market, and provides information and statistics on market structure and trends. The report will suffice in providing the intending clients with cutting-edge market intelligence and help them in taking sound investment decisions. The report also identifies and analyzes emerging trends along with essential drivers and key challenges faced by South America all-terrain vehicle market.