Market Overview

Global ATV Coilover Shock Market to Grow at 16% CAGR Through 2017-2021: Technavio

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According to the latest market study released by Technavio,
the global
all-terrain vehicle (ATV) coilover shock market
is expected to
reach 273.70 thousand units during the forecast period, according to
their latest report.

This Smart News Release features multimedia. View the full release here:
http://www.businesswire.com/news/home/20170512005559/en/

Technavio has published a new report on the global ATV coilover shock market from 2017-2021. (Graphi ...

Technavio has published a new report on the global ATV coilover shock market from 2017-2021. (Graphic: Business Wire)

The research study covers the present scenario and growth prospects of
the ‘Global
ATV Coilover Shock Market for 2017-2021
'. The report further
segments the market based on application (ATVs and UTVs), and geography
(the Americas, APAC, and EMEA).

The automotive coilover shock market is expected to grow at a rapid rate
through the forecasted period. There is high demand for ATVs and UTVs in
the military and defense operations, which use off-road vehicles for the
transportation of military equipment in tough terrains. This has
triggered the growth of the ATV coilover shock market. The usage of ATVs
is growing with the increase in demand for off-road vehicles for
transportation, agriculture, and sports activities.

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Technavio automotive
analysts highlight the three key factors that are contributing to
the growth of the global ATV coilover shock market:

  • Rise in the participation of outdoor recreational activities
  • Growing preference for ATVs and UTVs for defense and military
    applications
  • Growing adoption of ATVs for the transport in hostile terrains

Rise in the participation of outdoor recreational activities

The increasing outdoor recreational activities like mountain racing and
dirt racing are increasing in regions like North America and Europe.
This is because of increase in the number of sports enthusiasts.
Associations such as Canadian Council of Snowmobile Organizations are
conducting sports events every year, and this, in turn, is increasing
the sale of ATVs.

According to Siddharth Jaiswal, a lead automotive
components
, " If sports enthusiasts are provided with the
required training and safety accessories, then it will reduce the
safety-related concerns. And this will, in turn, drive the market for
the ATV coilover shock market. Recreational activities increase mainly
during the winter and fall. This shows that the OEMs must focus on
expanding their customer base by providing terrain vehicle sports
packages according to the seasons, which will increase the sales of
ATVs."

Growing preference for ATVs and UTVs for defense and military
applications

Defense and military operations require vehicles which can be used in
rocky terrains, forest areas, and coastal regions. This increases the
demand for ATV market in the military-dominated regions. In countries
like the US, 55% of the total terrain vehicle sales are for defense and
military purposes. The US army started using ATVs for defense purposes
in 2004 by placing an order for 1,200 ATVs, which was a five-year
agreement.

"Technological advancements have made the ATVs to detect land mines
and the ability to monitor routes using real-time data. India has
started using ATVs for defense purposes. Other countries like Iran and
Iraq have also started the use of ATVs during combat,"
adds
Siddharth.

Growing adoption of ATVs for the transport in hostile terrains

ATV vehicles are useful for transportation purpose in rocky areas.
Countries such as Australia, the US, Germany, and India are adopting
ATVs for farming so that manpower can be reduced, which will reduce the
overall cost. In places like Africa, people find it difficult to travel
in the forests. From this perspective, the emerging countries are
potential markets for ATV coilover shock manufacturers.

Top vendors:

  • Bosch Rexroth
  • Ingenia Motion Control
  • Robotics & Drives
  • YASKAWA Electric Corporation

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About Technavio

Technavio
is a leading global technology research and advisory company. The
company develops over 2000 pieces of research every year, covering more
than 500 technologies across 80 countries. Technavio has about 300
analysts globally who specialize in customized consulting and business
research assignments across the latest leading edge technologies.

Technavio analysts employ primary as well as secondary research
techniques to ascertain the size and vendor landscape in a range of
markets. Analysts obtain information using a combination of bottom-up
and top-down approaches, besides using in-house market modeling tools
and proprietary databases. They corroborate this data with the data
obtained from various market participants and stakeholders across the
value chain, including vendors, service providers, distributors,
re-sellers, and end-users.

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