Latest News- All-Terrain Vehicle (ATV) Steering System Market: OEM is expected to lead the End-user segment during 2025-2029

The All-Terrain Vehicle (ATV) Steering System Market is being driven by Improvements in ATV steering system technology

The All-Terrain Vehicle (ATV) Steering System Market is expected to grow at a CAGR of 4.7% during 2024 and 2029. During this period, the market is also expected to show a growth of USD 130.9 million. The global ATV (All-Terrain Vehicle) steering system market is experiencing significant advancements, primarily driven by innovations in ATV powertrains. Notably, the introduction of all-electric powertrains is gaining traction, positioning the market for robust growth during the forecast period. ATVs are renowned for their sizeable build, distinctive designs, and powerful engines. In response to evolving consumer preferences and technological advancements, ATV manufacturers have been investing in enhancements to powertrains and drivetrains. One such development is the emergence of all-electric powertrains in the ATV steering system market. For instance, in July 2023, Kawasaki unveiled the KX65 and KX112, electric two-wheeler ATVs for kids in India, further underscoring the market's potential. 

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• End-user
  • OEM
  • Aftermarket
• Type
  • Tie-rod steering
  • Crossover steering
  • Others
• Application
  • Recreational
  • Agriculture
  • Military and defense
  • Industrial
• Geography
  • North America
    • Canada
    • Mexico
    • US
  • Europe
    • Germany
    • UK
    • France
    • Italy
  • APAC
    • China
    • India
    • Japan
  • Middle East and Africa
  • South America

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Improvements in ATV steering system technology
• Increasing demand for ATVs for recreational and adventurous sports activities
• Growing tourism to promote sales of ATVs

However, the market also witnesses some limitations, which are as follows:

• Environmental concerns due to use of ATVs
• Product recalls due to reliability issues
• Legal limitations associated with use of off-road vehicles

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Market Scope in All-Terrain Vehicle (ATV) Steering System Market Research Report

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Research Analysis Overview

The ATV (All-Terrain Vehicle) market encompasses various segments including models, safety gear, rentals, accessories, clubs, trails, racing, electric ATVs, sustainability, industry, regulations, sales, reviews, insurance, brands, customization, trends, technology, parts online, riding, repair, events, replacement parts, maintenance, future, community, steering repair, replacement, parts, customization, technology, accessories, gear, wheel, and covers. Electric ATVs are gaining popularity in emergency services and industrial use. The market caters to the needs of ATV enthusiasts through various offerings such as steering system repairs, replacements, and customizations.

Market Research Overview

In the dynamic and expansive automotive parts and equipment market, key players include original equipment manufacturers (OEMs) and automotive parts suppliers. This sector encompasses the production of components and accessories for various vehicle types, such as passenger cars (PCs), electric vehicles (EVs), commercial vehicles (CVs), heavy-duty vehicles, off-road vehicles like All-Terrain Vehicles (ATVs), motorcycles, scooters, quad bikes, and three-wheelers. The global market size is determined by the combined revenue generated by these manufacturers. Factors driving growth in this sector include the rise of electronic components in automobiles, particularly in the increasing sales of EVs, motorcycles, and PCs, which have significantly boosted the demand for electronic control units (ECUs) and other electrical components in the past decade. Furthermore, utility applications, stability control systems, production processes, and the emergence of electric powertrains in ATVs are additional growth drivers for the market. ATV manufacturers continue to innovate, offering advanced features to cater to both utility and recreational purposes.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
Jesse Maida
Media & Marketing Executive
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UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/