All Terrain Vehicle Market Growth, Competitive Strategies and Forecasts, 2016 to 2024

The global all terrain vehicle (ATV) market was valued around USD 6 billion in 2015. It is expected to grow at a CAGR of 5%%%% during 2016 to 2024 (forecast period). The industry will surpass USD 9 billion by the end of the forecast period. ATVs are popularly known as quads, three-wheelers, four-wheelers, quad bikes, or quadricycles. Advancements in eco-friendly ATV versions will propel market growth till 2024. Customers can choose from various propulsion systems; like solar-electric, gas-electric, or diesel-electric drive trains. Hybrid ATVs are fuel-efficient and ensure minimal emissions. Thus, higher demand for these has fueled the overall industry.