MarketsandMarkets Forecasts All-Terrain Vehicle Market Growth to $3.3 Billion by 2030
Monday, 16 September 2024, 03:44
Future Growth of the All-Terrain Vehicle Market
The All-Terrain Vehicle market is anticipated to expand significantly, with MarketsandMarkets estimating its size to soar from USD 2.9 billion in 2024 to USD 3.3 billion by 2030, representing a CAGR of 2.3%. Key factors influencing this growth include increasing recreational and utility applications across various sectors.
Market Drivers
- Rising demand for recreational vehicles.
- Increasing investments in off-road events.
- Technological advancements enhancing vehicle performance.
Competitive Landscape
Major players in this arena are focusing on strategic collaborations and innovations. Continuous development in electric and hybrid vehicles is expected to reshape the market dynamics further.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.