Amphibious ATV Market Research Reportβ€”Global Forecast till 2030

Amphibious ATV Market Research Report: Information by Type (6x6 and 8x8), Application (Personal and Commercial), and Region - Forecast to 2030

ID: MRFR/AM/9200-HCR | August 2022 | Region: Global | 188 Pages         

Table of Contents

1 Executive Summary

2 Market Introduction

2.1 Market Definition

2.2 Scope of the Study

2.3 Market Structure

3 Research Methodology

3.1 Primary Research

3.2 Secondary Research

3.3 Market Estimation

3.4 Forecast Model

3.5 List of Assumptions

3.6 Limitations of the Study

4 Market Insights

5 Market Dynamics

5.1 Introduction

5.2 Market Drivers

5.3 Market Restraints

5.4 Market Opportunities

5.5 Porter’s Five Forces Analysis

5.5.1 Threat of New Entrants

5.5.2 Bargaining Power of Buyers

5.5.3 Bargaining Power of Suppliers

5.5.4 Threat of Substitutes

5.5.5 Intensity of Rivalry

5.6 Value Chain/Supply Chain Analysis

6 Global Amphibious ATVMarket, byType

6.1 Introduction

6.2 6x6

6.2.1 Market Estimates & Forecast, 2021–2027

6.2.2 Market Estimates & Forecast, by Region, 2021–2027

6.3 8x8

6.3.1 Market Estimates & Forecast, 2021–2027

6.3.2 Market Estimates & Forecast, by Region, 2021–2027

7 Global Amphibious ATV Market, by Application

7.1 Introduction

7.2 Personal

7.2.1 Market Estimates & Forecast, 2021–2027

7.2.2 Market Estimates & Forecast, by Region, 2021–2027

7.3 Commercial

7.3.1 Market Estimates & Forecast, 2021–2027

7.3.2 Market Estimates & Forecast, by Region, 2021–2027

8 Global Amphibious ATVMarket, by Region

8.1 Introduction

8.2 North America

8.2.1 Market Estimates & Forecast, by Type, 2021–2027

8.2.2 Market Estimates & Forecast, by Application, 2021–2027

8.2.3 Market Estimates & Forecast, by Country, 2021–2027

8.2.4 US

8.2.4.1 Market Estimates & Forecast, by Type, 2021–2027

8.2.4.2 Market Estimates & Forecast, by Application, 2021–2027

8.2.5 Canada

8.2.5.1 Market Estimates & Forecast, by Type, 2021–2027

8.2.5.2 Market Estimates & Forecast, by Application, 2021–2027

8.2.6 Mexico

8.2.6.1 Market Estimates & Forecast, by Type, 2021–2027

8.2.6.2 Market Estimates & Forecast, by Application, 2021–2027

8.3 Europe

8.3.1 Market Estimates & Forecast, by Type, 2021–2027

8.3.2 Market Estimates & Forecast, by Application, 2021–2027

8.3.3 Market Estimates & Forecast, by Country, 2021–2027

8.3.4 Germany

8.3.4.1 Market Estimates & Forecast, by Type, 2021–2027

8.3.4.2 Market Estimates & Forecast, by Application, 2021–2027

8.3.5 UK

8.3.5.1 Market Estimates & Forecast, by Type, 2021–2027

8.3.5.2 Market Estimates & Forecast, by Application, 2021–2027

8.3.6 Russia

8.3.6.1 Market Estimates & Forecast, by Type, 2021–2027

8.3.6.2 Market Estimates & Forecast, by Application, 2021–2027

8.3.7 Italy

8.3.7.1 Market Estimates & Forecast, by Type, 2021–2027

8.3.7.2 Market Estimates & Forecast, by Application, 2021–2027

8.3.8 Spain

8.3.8.1 Market Estimates & Forecast, by Type, 2021–2027

8.3.8.2 Market Estimates & Forecast, by Application, 2021–2027

8.3.9 Rest of Europe

8.3.9.1 Market Estimates & Forecast, by Type, 2021–2027

8.3.9.2 Market Estimates & Forecast, by Application, 2021–2027

8.4 Asia-Pacific

8.4.1 Market Estimates & Forecast, by Type, 2021–2027

8.4.2 Market Estimates & Forecast, by Application, 2021–2027

8.4.3 Market Estimates & Forecast, by Country, 2021–2027

8.4.4 China

8.4.4.1 Market Estimates & Forecast, by Type, 2021–2027

8.4.4.2 Market Estimates & Forecast, by Application, 2021–2027

8.4.5 Japan

8.4.5.1 Market Estimates & Forecast, by Type, 2021–2027

8.4.5.2 Market Estimates & Forecast, by Application, 2021–2027

8.4.6 India

8.4.6.1 Market Estimates & Forecast, by Type, 2021–2027

8.4.6.2 Market Estimates & Forecast, by Application, 2021–2027

8.4.7 South Korea

8.4.7.1 Market Estimates & Forecast, by Type, 2021–2027

8.4.7.2 Market Estimates & Forecast, by Application, 2021–2027

8.4.8 Rest of Asia-Pacific

8.4.8.1 Market Estimates & Forecast, by Type, 2021–2027

8.4.8.2 Market Estimates & Forecast, by Application, 2021–2027

8.5 Middle East& Africa

8.5.1.1 Market Estimates & Forecast, by Type, 2021–2027

8.5.1.2 Market Estimates & Forecast, by Application, 2021–2027

8.5.1.3 Market Estimates & Forecast, by Country, 2021–2027

8.5.2 Saudi Arabia

8.5.2.1 Market Estimates & Forecast, by Type, 2021–2027

8.5.2.2 Market Estimates & Forecast, by Application, 2021–2027

8.5.3 UAE

8.5.3.1 Market Estimates & Forecast, by Type, 2021–2027

8.5.3.2 Market Estimates & Forecast, by Application, 2021–2027

8.5.4 South Africa

8.5.4.1 Market Estimates & Forecast, by Type, 2021–2027

8.5.4.2 Market Estimates & Forecast, by Application, 2021–2027

8.5.5 Rest of Middle East& Africa

8.5.5.1 Market Estimates & Forecast, by Type, 2021–2027

8.5.5.2 Market Estimates & Forecast, by Application, 2021–2027

8.6 South America

8.6.1 Market Estimates & Forecast, by Type, 2021–2027

8.6.2 Market Estimates & Forecast, by Application, 2021–2027

8.6.3 Market Estimates & Forecast, by Country, 2021–2027

8.6.4 Argentina

8.6.4.1 Market Estimates & Forecast, by Type, 2021–2027

8.6.4.2 Market Estimates & Forecast, by Application, 2021–2027

8.6.5 Brazil

8.6.5.1 Market Estimates & Forecast, by Type, 2021–2027

8.6.5.2 Market Estimates & Forecast, by Application, 2021–2027

8.6.6 Rest of South America

8.6.6.1 Market Estimates & Forecast, by Type, 2021–2027

8.6.6.2 Market Estimates & Forecast, by Application, 2021–2027

9 Competitive Landscape

9.1 Competitive Scenario

9.2 Competitive Benchmarking of the Global Amphibious ATVMarket

9.3 Major Growth Key Strategiesin the Global Amphibious ATVMarket

9.4 Market Share Analysis: Global Amphibious ATVMarket

9.5 XX: The Leading Player in Terms of Number of Developments in the Global Amphibious ATVMarket

9.6 Product Launch/Development in the GlobalAmphibious ATVMarket

9.7 Mergers and Acquisitions in the GlobalAmphibious ATVMarket

9.8 Contracts and Agreements in the GlobalAmphibious ATVMarket

9.9 Expansions and Investments in the GlobalAmphibious ATVMarket

10 Company Profile

10.1 ARGO

10.1.1 Company Overview

10.1.2 Products/Services Offered

10.1.3 Financial Overview

10.1.4 Key Developments

10.1.5 Key Strategies

10.1.6 SWOT Analysis

10.2 Tinger

10.2.1 Company Overview

10.2.2 Products/Services Offered

10.2.3 Financial Overview

10.2.4 Key Developments

10.2.5 Key Strategies

10.2.6 SWOT Analysis

10.3 Hydratrek

10.3.1 Company Overview

10.3.2 Products/Services Offered

10.3.3 Financial Overview

10.3.4 Key Developments

10.3.5 Key Strategies

10.3.6 SWOT Analysis

10.4 Gibbs Technologies Limited

10.4.1 Company Overview

10.4.2 Products/Services Offered

10.4.3 Financial Overview

10.4.4 Key Developments

10.4.5 Key Strategies

10.4.6 SWOT Analysis

10.5 Mudd-Ox

10.5.1 Company Overview

10.5.2 Products/Services Offered

10.5.3 Financial Overview

10.5.4 Key Developments

10.5.5 Key Strategies

10.5.6 SWOT Analysis

10.6 Terra Jet

10.6.1 Company Overview

10.6.2 Products/Services Offered

10.6.3 Financial Overview

10.6.4 Key Developments

10.6.5 Key Strategies

10.6.6 SWOT Analysis

10.7 MaxATVs

10.7.1 Company Overview

10.7.2 Products/Services Offered

10.7.3 Financial Overview

10.7.4 Key Developments

10.7.5 Key Strategies

10.7.6 SWOT Analysis

10.8 Sherp

10.8.1 Company Overview

10.8.2 Products/Services Offered

10.8.3 Financial Overview

10.8.4 Key Developments

10.8.5 Key Strategies

10.8.6 SWOT Analysis

 

List of Tables

Table 1 Global Amphibious ATV Market, by Region, 2021–2027 (USD Million)

Table 2 North America Amphibious ATV Market, by Country, 2021–2027 (USD Million)

Table 3 Europe Amphibious ATV Market, by Country, 2021–2027 (USD Million)

Table 4 Asia-Pacific Amphibious ATV Market, by Country, 2021–2027 (USD Million)

Table 5 Middle East & Africa Amphibious ATV Market, by Country, 2021–2027 (USD Million)

Table 6 South America Amphibious ATV Market, by Country, 2021–2027 (USD Million)

Table 7 Global Amphibious ATV Market, by Type, 2021–2027 (USD Million)

Table 8 North America Amphibious ATV Market, by Type, 2021–2027 (USD Million)

Table 9 Europe Amphibious ATV Market, by Type, 2021–2027 (USD Million)

Table 10 Asia-Pacific Amphibious ATV Market, by Type, 2021–2027 (USD Million)

Table 11 Middle East & Africa Amphibious ATV Market, by Type, 2021–2027 (USD Million)

Table 12 South America Amphibious ATV Market, by Type, 2021–2027 (USD Million)

Table 13 Global Amphibious ATV Market, by Application, 2021–2027 (USD Million)

Table 14 North America Amphibious ATV Market, by Application, 2021–2027 (USD Million)

Table 15 Europe Amphibious ATV Market, by Application, 2021–2027 (USD Million)

Table 16 Asia-Pacific Amphibious ATV Market, by Application, 2021–2027 (USD Million)

Table 17 Middle East & Africa Amphibious ATV Market, by Application, 2021–2027 (USD Million)

Table 18 South America Amphibious ATV Market, by Application, 2021–2027 (USD Million)

Table 19 Global Amphibious ATV Market: by Region, 2021–2027 (USD Million)

Table 20 North America Amphibious ATV Market, by Country, 2021–2027 (USD Million)

Table 21 North America Amphibious ATV Market, by Type, 2021–2027 (USD Million)

Table 22 North America Amphibious ATV Market, by Application, 2021–2027 (USD Million)

Table 23 US Amphibious ATV Market, by Type, 2021–2027 (USD Million)

Table 24 US Amphibious ATV Market, by Application, 2021–2027 (USD Million)

Table 25 Canada Amphibious ATV Market, by Type, 2021–2027 (USD Million)

Table 26 Canada Amphibious ATV Market, by Application, 2021–2027 (USD Million)

Table 27 Mexico Amphibious ATV Market, by Type, 2021–2027 (USD Million)

Table 28 Mexico Amphibious ATV Market, by Application, 2021–2027 (USD Million)

Table 29 Europe Amphibious ATV Market, by Country, 2021–2027 (USD Million)

Table 30 Europe Amphibious ATV Market, by Type, 2021–2027 (USD Million)

Table 31 Europe Amphibious ATV Market, by Application, 2021–2027 (USD Million)

Table 32 Germany Amphibious ATV Market, by Type, 2021–2027 (USD Million)

Table 33 Germany Amphibious ATV Market, by Application, 2021–2027 (USD Million)

Table 34 UK Amphibious ATV Market, by Type, 2021–2027 (USD Million)

Table 35 UK Amphibious ATV Market, by Application, 2021–2027 (USD Million)

Table 36 Russia Amphibious ATV Market, by Type, 2021–2027 (USD Million)

Table 37 Russia Amphibious ATV Market, by Application, 2021–2027 (USD Million)

Table 38 Italy Amphibious ATV Market, by Type, 2021–2027 (USD Million)

Table 39 Italy Amphibious ATV Market, by Application, 2021–2027 (USD Million)

Table 40 Spain Amphibious ATV Market, by Type, 2021–2027 (USD Million)

Table 41 Spain Amphibious ATV Market, by Application, 2021–2027 (USD Million)

Table 42 Rest of Europe Amphibious ATV Market, by Type, 2021–2027 (USD Million)

Table 43 Rest of Europe Amphibious ATV Market, by Application, 2021–2027 (USD Million)

Table 44 Asia-Pacific Amphibious ATV Market, by Country, 2021–2027 (USD Million)

Table 45 Asia-Pacific Amphibious ATV Market, by Type, 2021–2027 (USD Million)

Table 46 Asia-Pacific Amphibious ATV Market, by Application, 2021–2027 (USD Million)

Table 47 China Amphibious ATV Market, by Type, 2021–2027 (USD Million)

Table 48 China Amphibious ATV Market, by Application, 2021–2027 (USD Million)

Table 49 Japan Amphibious ATV Market, by Type, 2021–2027 (USD Million)

Table 50 Japan Amphibious ATV Market, by Application, 2021–2027 (USD Million)

Table 51 India Amphibious ATV Market, by Type, 2021–2027 (USD Million

Table 52 India Amphibious ATV Market, by Application, 2021–2027 (USD Million)

Table 53 South Korea Amphibious ATV Market, by Type, 2021–2027 (USD Million

Table 54 South Korea Amphibious ATV Market, by Application, 2021–2027 (USD Million)

Table 55 Rest of Asia-Pacific Amphibious ATV Market, by Type, 2021–2027 (USD Million)

Table 56 Rest of Asia-Pacific Amphibious ATV Market, by Application, 2021–2027 (USD Million)

Table 57 Middle East & Africa Amphibious ATV Market, by Country, 2021–2027 (USD Million)

Table 58 Middle East & Africa Amphibious ATV Market, by Type, 2021–2027 (USD Million)

Table 59 Middle East & Africa Amphibious ATV Market, by Application, 2021–2027 (USD Million)

Table 60 Saudi Arabia Amphibious ATV Market, by Type, 2021–2027 (USD Million)

Table 61 Saudi Arabia Amphibious ATV Market, by Application, 2021–2027 (USD Million)

Table 62 UAE Amphibious ATV Market, by Type, 2021–2027 (USD Million)

Table 63 UAE Amphibious ATV Market, by Application, 2021–2027 (USD Million)

Table 64 South Africa Amphibious ATV Market, by Type, 2021–2027 (USD Million)

Table 65 South Africa Amphibious ATV Market, by Application, 2021–2027 (USD Million)

Table 66 Rest of the Middle East & Africa Amphibious ATV Market, by Type, 2021–2027 (USD Million)

Table 67 Rest of the Middle East & Africa Amphibious ATV Market, by Application, 2021–2027 (USD Million)

Table 68 South America Amphibious ATV Market, by Country, 2021–2027 (USD Million)

Table 69 South America Amphibious ATV Market, by Type, 2021–2027 (USD Million)

Table 70 South America Amphibious ATV Market, by Application, 2021–2027 (USD Million)

Table 71 Brazil Amphibious ATV Market, by Type, 2021–2027 (USD Million)

Table 72 Brazil Amphibious ATV Market, by Application, 2021–2027 (USD Million)

Table 73 Argentina Amphibious ATV Market, by Type, 2021–2027 (USD Million)

Table 74 Argentina Amphibious ATV Market, by Application, 2021–2027 (USD Million)

Table 75 Rest of South America Amphibious ATV Market, by Type, 2021–2027 (USD Million)

Table 76 Rest of South America Amphibious ATV Market, by Application, 2021–2027 (USD Million)

List of Figures

Figure 1 Research Process of MRFR

Figure 2 Top-Down and Bottom-Up Approach

Figure 3 Market Dynamics

Figure 4 Impact Analysis: Market Drivers

Figure 5 Impact Analysis: Market Restraints

Figure 6 Porter’s Five Forces Analysis

Figure 7 Value Chain Analysis

Figure 8 Global Amphibious ATVMarket Share, by Type, 2020 (%)

Figure 9 Global Amphibious ATV Market Share, by Application, 2020 (%)

Figure 10 Global Amphibious ATVMarket, by Type, 2021–2027 (USD Million)

Figure 11 Global Amphibious ATV Market, by Application, 2021–2027 (USD Million)

Figure 12 North America Amphibious ATVMarket Share (%), 2020

Figure 13 North America Amphibious ATVMarket, by Country, 2021–2027 (USD Million)

Figure 14 Europe Amphibious ATVMarket Share (%), 2020

Figure 15 Europe Amphibious ATVMarket, by Country, 2021–2027 (USD Million)

Figure 16 Asia-Pacific Amphibious ATVMarket Share (%), 2020

Figure 17 Asia-Pacific Amphibious ATVMarket, by Country, 2021–2027 (USD Million)

Figure 18 Middle East & Africa Amphibious ATVMarket Share (%), 2020

Figure 19 Middle East & Africa Amphibious ATVMarket, byCountry, 2021–2027 (USD Million)

Figure 20 South AmericaAmphibious ATVMarket Share (%), 2020

Figure 21 South AmericaAmphibious ATVMarket, by Country, 2021–2027 (USD Million)

Amphibious ATV Market

The Global Amphibious ATV Market Size is expected to cross USD 4.99 billion by 2027 at a CAGR of 10.18% during the forecast period ending in 2027

Segmentation

By Type 6x6 8x8
By Application Personal Commercial

Key Players

  • ARGO (Canada)
  • Hydratrek (US)
  • Mudd-Ox Inc. (Indiana)
  • Terra Jet (US)
  • Sherp (Ukraine)
  • Tinger (Russia)
  • Gibbs Technologies Limited (UK)
  • MaxATVs (Australia)

Drivers

  • Rise in Commercial Applications
  • Rise in Investmentsfrom the Defense Sector
  • Growing Tourism Sector
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The Global Amphibious ATV Market Size is expected to cross USD 4.99 billion by 2027 at a CAGR of 10.18% during the forecast period ending in 2027.


Amphibious ATV Market Overview:


Professionals, and people in general, use amphibious all-terrain vehicles when traveling through muddy, swampy, and waterlogged areas. They can even travel underwater with these vehicles. The global defense industry uses these vehicles the most because of their waterproof properties. That said, many private companies use these vehicles. The general population also uses these vehicles when playing water sports or traveling through wet areas.


Global tourism is rebinding now that a vaccine and booster shots for COVID-19 have been developed. Ideally driven consumers followed by their disposable income expansion has prospects in store for the tourism market. The tourist sector is one of the world’s fastest-growing and economically expanding sectors. Modern tourism is very water-intensive. It is especially true in The Asia-Pacific region and the European Union. It’s also true in North America. In these regions, water sports and adventures as a form of tourism have become popular. Hence, the global demand for amphibious all-terrain vehicles has increased rapidly. Many government agencies are encouraging water tourism around the world. The European Travel Commission and the European Tour Operators Association Limited are good examples. They’re also lowering taxes that are associated with water tourism.


Amphibious ATV Market Competitive Landscape:


The growth of the vendors is dependent on market conditions, government support, and industrial development. Thus, the vendors should focus on expanding their presence and improving their services. ARGO(Canada), Hydratrek (US), Mudd-Ox Inc. (Indiana), Terra Jet (US), and Sherp (Ukraine)are some of the key players operating in the global market. These companies compete in terms of availability, quality, price, and technology and consider product development as their key strategy in the global amphibious ATV market. Although the international players dominate the global market, regional and domestic players with small shares also have a significant market presence. The international players may strengthen their presence in the amphibious ATV market by heavily investing in product development during the study period.


Amphibious ATV Market Top Key Players:


ARGO (Canada), Hydratrek (US), Mudd-Ox Inc. (Indiana), Terra Jet (US), Sherp (Ukraine), Tinger (Russia), Gibbs Technologies Limited (UK), and MaxATVs(Australia)are the key players operating in the global market.


Recent Developments



  • The demand for amphibious vehicles is expected to be driven by the increasing demand from militaries owing to rising conflicts, increasing commercial applications, accessibility in rough terrain, and the assault amphibious vehicle upgradation program of the U.S. Army.

  • Sales of new all-terrain vehicles are vital in the North American region. The growth is leading to new technological advances and innovations in these vehicles. Many governments in this region are passing legislation encouraging the manufacture and usage of vehicles that are gentler on the environment. The middle classes are growing wealthier. Water sports are taking off in popularity in the region is fueling growth in the amphibious ATV market.

  • February 2021: The Australian government announced plans to invest USD 620 million to acquire new Australian-built amphibious vehicles and landing craft fleets. These vehicles will be used for transporting land forces with enhanced speed and protection.

  • February 2021: BAE Systems has received a USD 184 million contract option from the US Marine Corps for more Amphibious Combat Vehicles (ACV) under full-rate production.

  • November 2020: ARGO, a leadingmanufacturer of amphibious Extreme Terrain Vehicles (XTVs), announced that it entered into a manufacturing & supply agreement with SHERP to expand its current offering of commercial amphibious XTVs.

  • August 2020: Zeal Motor Inc. developed the Fat Truck Industrial Off-Road Utility Vehicles. These all-terrain, amphibious vehicles can carry up to eight people or a payload of material weighing up to 2,200 lbs. (997.9 kg). They are ISO 3471 ROPS (rollover protection structure) certified to ensure safety on any job site.

  • May 2019: FNSS unveils the ZΔ±rhlΔ± Amfibi Hücum AraçlarΔ± (Armoured Amphibious Offensive Vehicle, ZAHA) marine amphibious vehicle.


Amphibious ATV Market Dynamics:


Drivers:



  • Rise in commercial applications


Commercial amphibious ATV manufacturers have developed technologically superior amphibious vehicles to meet the spike in demand from the commercial sectors as water transportation and water sports have grown in popularity.Furthermore, the increased use of amphibious vehicles in various business activities such as land reclamation, excavation, water mud removal, canal-building, and others is driving up demand for amphibious ATVs. This element has a positive impact on the amphibious ATV market's growth. For example, in December 2018, Chennai Municipal Corporation, India, announced plans to buy new amphibious equipment, a mini-amphibian, and amphibious robotic excavators to clean smaller water bodies under Swachh Bharat Mission (SBM). 



  • Increasing investment from the defense sector


Leading countries in the region such as the US, Russia, China, Saudi Arabia, and India are strengthening the defense sectors by heavily investing in the procurement and development of advanced military systems. In addition, as the concerns about border security and terrorism grow, growing economies around the world are updating their traditional defense equipment and systems to combat the threat.Furthermore, amphibious ATVs comprise robust engines providing high speed and power in allterrains. Additionally, these vehicles are reliable, versatile, can be equipped with guns & ammunition, and offer high performance during battlefield operations. Hence, countries across the globe are looking forward to procuring these vehicles to strengthen their defense systems. This, in turn, fuels the demand for the amphibious ATVs market. For instance, as per Stockholm International Peace Research Institute (SIPRI), military spending by the US grew by 5.3% to a total of USD 732 billion in 2019 and accounted for 38% of global military spending. Additionally, in 2019, China was the second-largest military spender,spending about USD 261 billion, a 5.1% increase compared with 2018.


Restraints:



  • High initial cost


The adoption of advanced technology-based systems & equipment in amphibious vehicles increases the initial cost of the vehicle. The vehicles’design can be customized as per the applications. Thus, the systems used in the ATV must be compatible with both land and water terrains, leading to high expenditure. Additionally, the engine used in these vehicles is different from the engine used in the land-operated vehicles and has to be specially designed to operate on land and water. These factors increase the initial cost of the ATVs, and thus, are expected to restrict the growth of the amphibious ATV market.


Opportunities:



  • Growing tourism sector


According to the World Travel & Tourism Council, the tourism sector has witnessed continuous growth and is one of the fastest-growing economic sectors. Modern tourism is linked to the development of adventure water sports across Europe, Asia-Pacific, and North America. The emergence of adventure tourism has been leading to increasing investments in this sector. Such trends have made tourism one of the key factors fueling the demand for amphibious ATVs.


Various government organizations, such as the European Tour Operators Association Ltd, European Travel Commission, German Tourism Association, and European Travel Agents’ and Tour Operators’ Association, are taking various initiatives to increase the number of tourists and reduce taxes associated with tourism. Such initiatives are focused on encouraging investors in the tourism industry to capitalize on the increased demand for tourism.Thus, the growing demand foramphibious ATVs, especially in the tourism sector, is likely to create a growth opportunity for the players operating in the global amphibious ATV market during the forecast period.


Amphibious ATV Market Segmentation:


The global amphibious ATV market has been segmented based on type and application.


Based on type, the global amphibious ATV market has been segmented into 6x6 and 8x8.The 6×6 Amphibious ATV is known for its agility and has superior maneuvering capabilities. This is suitable for off-road conditions.The 6×6 amphibious vehicle is designed for remote access travel for 2–4 people andis perfect for use as a runabout utility vehicle with room for tools and equipment on the cargo deck. However, the 8x8amphibious ATVhas a rear cargo bed for material and/or persons.This is an all-wheel-drive, and it can operate with or without tracks.


By application, the global amphibious ATV market is segmented into personal and commercial.The Amphibious ATVs are applicable for personal use such as water crossings such as creeks, canals, ditches, ponds, lakes, rivers, or flooded areas from heavy rains. Amphibious ATVs are very useful in commercial applications such as surveillance & rescue, water transportation, sports, and excavation.


Amphibious ATV Market Regional Analysis:


Based on region, the report on the amphibious ATV market has been divided into North America, Europe, Asia-Pacific, and the rest of the world.


North America has witnessed an increase in the sale of all-terrain vehicles. The growing US market is expected to lead to the improvement of the amphibious ATV market. The authorities in North America are encouraging the adoption of eco-friendly products, which leads to the popularity of amphibious ATVs in the region. Manufacturers are offering all-terrain vehicles with improved fuel efficiency and improved designs. Growing tourism and rising disposable income among the middle-class population coupled with government policies will support the market growth in North America. Investments in the development of new and improved versions of all-terrain vehicles and the integration of production operations will boost the region's sharein the amphibious ATV market.


With the growth in the transport sector in Europe, the government agreed to target an emission reduction and set sustainability criteria to control fuel emission. This is expected to impact the all-terrain vehicle specifications offered by OEMs in Europe. Also, manufacturers strategically make investments in the development of all-terrain vehicles to meet the standard specification regarding ATVs. With an increase in per capita expenditure on luxury ATVs are becoming integrated with intelligent technologies due to a rise in automation and computerized controls. Moreover, the presence of key automotive OEMs, stringent government norms regarding emission control, and increased investment in the development of all-terrain vehicles are expected to boost the share of Europe in the global amphibious ATV market during the forecast period.


Asia-Pacific automotive industry is growing due to the presence of countries such as China, Japan, and Australia. The surge in demand for recreational and all-terrain vehicles in the region is propelling the tourism growth in the region. Increased sales of automobiles in the region are attributed to factors such as the growing per capita income, improved infrastructure spending, and initiatives to increase the amount of FDI and economic production cost. Increasing penetration of overseas players and favorable government guidelines are the key driving factors for the growth of the amphibious ATV market in the region.


Amphibious ATV Market Report Overview:


The global amphibious ATV market has been segmented based on type and application.The global amphibious ATV market is driven by factors such as a rise in commercial applications and investmentsfrom the defense sector. However, the high initial costsareexpected to restrain the market growth. On the other hand, the growing tourism sectoris expected to create growth opportunities for the market players.


Amphibious ATV Market COVID-19 Analysis:



  • Economic Impact on Automotive Industry


With the continuous spread of the novel coronavirus across the world, automakers are taking extreme measures in the form of plant closures to halt the spread of COVID-19. The situation remains uncertain as more European companies suspend work, and the US and Asia-Pacificautomakers extend shutdown periods. The automakers' new plans for North American production units are an effort to contain the spread of the COVID-19 virus; however, the region is currently the global epicenter of the outbreak, with the daily number of confirmed cases surpassing the number in any other region. In the US and Canada, the government response has been a combination of state or provincial, federal, and local measures. In other regions, the countries' governments are applying more stringent conditions on social interaction, travel, and workplace attendance than ever before. These regions are experiencing similar situations, which have a marked effect on the economy as well as society and causing massive economic disruption, with the automotive industry at the center of this turmoil.



  • Impact On the Supply Chain


Countries across the globe are trying to strikea fine balance between protecting health, lessening economic and social disruption, and respecting human rights. The rising spread of the virus has createdturmoil in various markets. Restrictions to shipping and industrial production are affecting multiple supply chains. Distribution of components is the key process in manufacturing industries, which is facing challenges such as staffing of warehouses, a need for direct distribution, and more intelligent and responsive allocation across channels due to pandemic which led to pressure on supply chains. The impact on the US and countries acrossEurope from the disruptions will be significant, significantly affecting the world economy and badly disrupting global supply chains.



  • Impact On Raw Materials


Automotive manufacturing possesses complex processes, with subcomponents required to assemble a single product sourced from several countries across the world. Additionally, the raw materials required to manufacture these subcomponents could come from different countries and continents.The finished products will again be transported all over the globe. Rubber is one of the main raw materials used to produceamphibious ATV, so the demand for raw rubber for processing is rapidly increasing. Some rubber processing plants that had previously shutdown are now opened. The import& export of raw material and finished productshave become more complex due to disruptions in the supply chain.



Report Scope:
Report Attribute/Metric Details
  Market Size   2030: Significant Value
  CAGR   10.18% CAGR (2022–2030)
  Base Year   2020
  Forecast Period   20222-2030
  Historical Data   2019Β &Β 2020
  Forecast Units   Value (USD Million)
  Report Coverage   Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
  Segments Covered   Type and Application
  Geographies Covered   North America, Europe, Asia-Pacific, and Rest of the World (RoW)
  Key Vendors   ARGO (Canada), Hydratrek (US), Mudd-Ox Inc. (Indiana), Terra Jet (US), Sherp (Ukraine), Tinger (Russia), Gibbs Technologies Limited (UK), and MaxATVs (Australia)
  Key Market Opportunities   β€’ Growing Tourism Sector
  Key Market Drivers   Rise in Commercial Applications β€’ Rise in Investmentsfrom the Defense Sector


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Frequently Asked Questions (FAQ) :

The global amphibious ATV market is maturing at a whopping 10.18% CAGR over the review period of 2022 to 2030.

A few significant players of the global amphibious ATV market are ARGO (Canada), Hydratrek (US), Mudd-Ox Inc. (Indiana), Terra Jet (US), Sherp (Ukraine), Tinger (Russia), Gibbs Technologies Limited (UK), and MaxATVs (Australia).