Market Research Future (MRFR) has published on the “Global ATV Parts & Accessories Market”.
The Global ATV (All-Terrain Vehicles) Parts & Accessories Market offers a diverse range of products and services, including ATV parts, accessories, customization options, maintenance services, and related offerings. The demand for these products and services is closely tied to the global ATV industry's health, where demand typically surges during periods of increased ATV sales and experiences a decline during industry slowdowns.
Market Research Future (MRFR) has published a cooked research report on the “Global ATV Parts & Accessories market” that contains information from 2019 to 2032. The ATV Parts & Accessories market is estimated to register a CAGR of 4.1 % during the forecast period of 2023 to 2032.
MRFR recognizes the following companies as the key players in the global ATV Parts & Accessories market - The Carlstar Group, TVH Parts Holding NV, Honda, Turner Cycles, Can-Am, Poloris, Yamaha Motor Co., Ltd., Suzuki Parts House, Kawasaki, KIMPEX, Pro Caliber Motorsports, WARN International, CFMOTO, and Quad-X, and Others.
Market Highlights
The global ATV Parts & Accessories market is accounted for to register a CAGR of 4.1 % during the forecast period and is estimated to reach USD 2,205.9 million by 2032.
The Global ATV Parts & Accessories Market is experiencing significant growth due to the increasing number of ATV sports events. This trend is driving the demand for specialized ATV parts and accessories that enhance performance, safety, and overall riding experience. Here is a simplified explanation of the content:
- Growing popularity of ATV sports events: ATV sports events, such as races, rallies, and competitions, are becoming more popular. Enthusiasts and professionals participate in these events to showcase their skills and push the limits of ATV performance.
- Demand for specialized ATV parts and accessories: The increasing number of ATV sports events is leading to a surge in the demand for specialized ATV parts and accessories. These parts and accessories enhance performance, safety, and overall riding experience.
- Diverse nature of ATV sports: Ripple effect on ATV ownership and participation: The visibility and excitement generated by ATV sports events are driving interest in ATV ownership and participation. This increased interest is not only boosting the sale of ATVs but also creating a ripple effect in the demand for parts and accessories.
- Market growth and expansion: The growing number of ATV sports events is creating a robust market driver for the Global ATV Parts & Accessories Market. Manufacturers and suppliers are capitalizing on this trend by continually innovating and offering products that cater to the evolving needs of ATV sports participants.
Overall, the increasing popularity of ATV sports events is fueling the demand for specialized ATV parts and accessories, driving the growth and expansion of the Global ATV Parts & Accessories Market.
Browse In-depth Details [Table of Content, List of Figures, List of Tables] of ATV Parts & Accessories Market
Segment Analysis
The global ATV Parts & Accessories market has been segmented based on Type, Product Type, Distribution Channel, End-Use, Propulsion Type.
Based on type, the global ATV Parts & Accessories market segmentation includes Sports and Utility. The utility- segment held the majority share in 2022, contributing around ~54.2 % to the market revenue.
Based on Propulsion Type, the global ATV Parts & Accessories Market segmentation includes ICE and Electric. The ICE propulsion type segment held the majority share in 2022, contributing around ~90.9% to the market revenue. ICE propulsion offers several advantages for ATV Parts & Accessories. It provides a reliable and powerful source of propulsion, enabling ATVs to navigate challenging terrains easily. Furthermore, ICE engines are relatively simple and cost-effective to manufacture and maintain, making them a popular choice in the ATV industry. However, it's important to acknowledge that ICE propulsion systems also have drawbacks. They produce exhaust emissions, contribute to air pollution, and require regular refueling. As environmental concerns continue to grow, alternative propulsion technologies, such as electric or hybrid systems, are gaining momentum in the ATV industry.
Based on the Product Type, the global ATV Parts & Accessories market segmentation includes parts and accessories. By product type, the accessories segment is anticipated to grow at a highest CAGR during the forecast period. The ATV Accessories segment within the ATV Parts & Accessories market encompasses a variety of supplementary products and components specifically created to improve the performance, functionality, and appearance of all-terrain vehicles (ATVs). These accessories include winches, racks, bumpers, lights, tires, and protective gear. The expansion of this segment is primarily driven by the rising popularity of ATVs for recreational activities, off-road expeditions, and utility applications, which in turn fuels the demand for personalized and specialized accessories to enhance the overall ATV experience.
Based on End Use, the global ATV Parts & Accessories Market segmentation includes OEM and aftermarket. By End Use, the IT & telecom segment holds the majority market share in 2022.
Based on distribution channel, the global ATV parts & accessories market is segmented into brick & mortar stores, e-commerce marketplace, direct-to-consumer, online retailer. By distribution channel, the e-commerce marketplace held the majority share in 2022. E-commerce Marketplaces are online platforms where individuals and businesses can transact with ATV (All-Terrain Vehicle) parts and accessories. These digital marketplaces provide a virtual space for buyers and sellers to connect, purchase, and sell ATV parts and accessories. Convenience primarily fuels the growth of this segment it provides buyers and sellers. E-commerce marketplaces offer a wide range of options, enabling users to compare prices, read reviews, and make well-informed purchasing decisions from their homes. This convenience factor has increased consumers turning to online platforms for their ATV parts and accessories requirements. Furthermore, e-commerce marketplaces often attract many sellers, creating a competitive environment that can lead to lower prices and a broader selection of products.
Regional Analysis
By Region, the study provides market insights into North America, Europe, Asia-Pacific, Middle East & Africa, and South America. In terms of revenue, North America held the largest share of 69.7% in the ATV Parts & Accessories market in 2022 and is expected to maintain its dominance during the forecast period. North America is expected to dominate the global ATV Parts & Accessories market in terms of market share during the forecast period. Advancements in technology such as advanced GPS systems as well as electronic controls will contribute to market growth. Established players as well as aftermarket suppliers play a significant role in catering to the requirements of ATV enthusiasts, offering a number of alternatives to choose from. The market shift is influenced by the preferences of consumers, regulations as well as economic conditions. All these factors are contributing to the growth of North America ATV parts and accessories market.
Europe, which is expected to fuel the demand for ATV Parts & Accessories over the forecast period. The growing popularity of outdoor recreational activities as well as off road adventures has led to a high need for reliable tires able to handle various landscapes. Furthermore, the growing ATV racing events, as well as competitions, have magnified the emphasis on the performance of tires thus leading to investment by enthusiasts. Overall, the Europe ATV parts and accessories market is witness growth in the near future.
Asia-Pacific is the fastest-growing regional market in global digital payment. By encouraging a supporting business environment, governments in the region are playing a critical role in driving the growth of the ATV parts and accessories market in the Asia Pacific region. Moreover, by doing partnerships between government and private bodies, the Asia Pacific region focuses on positioning itself as a major player in the Asia Pacific ATV market, driving economic growth while promoting sustainability as well as innovation.
The Middle East and Africa ATV parts and accessories market has experienced a steady development of new as well as innovative products. As the growing popularity of All Terrain Vehicles (ATVs) grows in the region, manufacturing is capitalizing on this trend by developing a broad range of innovative parts and accessories. Driven by demand for improved performance, customization, and comfort, the market has witnessed the emergence of cutting-edge technologies such as durable off-road tires, improved suspension systems, ergonomic seats, and GPS navigation kits.
South America ATV parts and accessories market, there has been a significant rise in the penetration of All Terrain Vehicles across the emerging market. This trend is driven by factors including the expansion of recreational agriculture, opportunities, and enhanced accessibility to remote areas. As economies develop the growing disposable income of individuals, allows them to take part in recreational activities such as outdoor adventures and off-roading.
Key Findings of the Study
- The global ATV Parts & Accessories market is expected to reach USD 2,205.9 million by 2032, at a CAGR of 4.1% during the forecast period.
- The Asia-Pacific region accounted for the fastest-growing global market, imperative factors, such as the government in the Asia Pacific region has recognized and acknowledged the economic potential of the Terrain Vehicle (ATV) industry as well as extending support for encouraging its growth.
- Based on type, the utility segment was attributed to holding the largest market in 2022, with an approximate market share of 54.2%.
- The Carlstar Group, TVH Parts Holding NV, Honda, Turner Cycles, Can-Am, Poloris, Yamaha Motor Co., Ltd., Suzuki Parts House, Kawasaki, KIMPEX, Pro Caliber Motorsports, WARN International, CFMOTO, and Quad-X, and Others are the key market players.
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Companies Covered | 15 |
Pages | 188 |
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