New York, Dec. 09, 2021 (GLOBE NEWSWIRE) -- Amphibious ATV Market Overview: According to a comprehensive research report by Market Research Future (MRFR), “Amphibious ATV Market Research Report: Information by Type (6x6 and 8x8), Application (Personal and Commercial), and Region - Forecast to 2030”
Eminent industry players profiled in the global amphibious ATV market report include
Mudd-Ox Inc. (Indiana)
Terra Jet (US)
Gibbs Technologies Limited (UK)
are the key players operating in the global market.
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The global amphibious ATV market is both fragmented and also competitive due to the presence of several international as well as domestic industry players. These players have utilized innumerable innovative strategies for staying at the vanguard and also sufficing to the surging need of the customers including contracts, partnerships, collaborations, contracts, new product launches, joint ventures, geographic expansions, and more. Further, they are also investing in numerous research and development activities.
Market Research Future’s Review on Amphibious ATV Market
The global amphibious ATV market will grow at a 10.18% CAGR by 2030, states the latest Market Research Future report.
The COVID-19 outbreak has compelled governments in focusing their investments on healthcare and protecting the economy that may possibly result in shifting the priorities away from defense expenditure. Few countries have already announced cuts in their defense budget for 2020. Thailand and India are amongst the first countries that have announced a cut in defense expenditures during the crisis. With the rise in COVID cases for instance in Latin America and Europe, operations of several defense firms like Indra and Navantia in Spain may be impacted by complete or partial shutdowns or regulated functioning, hence the direct and immediate effect of the outbreak has been on defense budgets worldwide, that is likely to impact the market growth.
Browse In-depth Market Research Report (188 pages) on Amphibious ATV Industry
Growing Need from Militaries to Boost Market Growth
The growing need for amphibious ATVs from militaries will boost market growth over the forecast period. This is owing to growing conflicts, rising commercial applications, the assault amphibious vehicle upgradation program of the US Army, and accessibility in rough terrain.
Extensive Use for Dredging Purposes to offer Robust Opportunities
The extensive use of amphibious ATV for dredging purposes like waterway construction, mud removal, excavation, land reclamation, environmental clean-ups, and maintaining reservoirs, ponds, swamps, and riverbeds will offer robust opportunities for the market over the forecast period. Besides, the growing tourism sector will also add market growth.
Declining Defense Budgets to act as Market Restraint
The declining defense budgets of advanced economies may act as a market restraint over the forecast period.
Need for Seasonal Serviceability to act as Market Challenge
The need for seasonal serviceability may act as a market challenge over the forecast period. The improved technology integrated in amphibious vehicles need maintenance from time to time that incurs high cost. For this the commercial sectors are limiting the procurement of amphibious cars that in turn may inhibit market growth in the future. Besides, the high cost may also impede market growth.
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The global amphibious ATV market is bifurcated based on type and application.
By type, the 6x6 segment will lead the market over the forecast period as these are popular for their agility as well as have ideal maneuvering capabilities. They are designed for remote access travel for 2-4 people.
By application, the commercial application will dominate the market over the forecast period. Amphibious ATVs are highly effective in commercial applications like excavation, sports, water transportation, and surveillance & rescue.
North America to Spearhead Amphibious ATV Market
North America will spearhead the amphibious ATV market over the forecast period. Increasing sales of all-terrain vehicles, growing US market, authorities in the region encouraging the adoption of eco-friendly products, manufacturers offering all-terrain vehicles with improved fuel efficiency & improved designs, booming tourism, and rising disposable income among the middle-class population are adding to the global amphibious ATV market growth in the region. Government policies supporting market growth, investments in the development of improved and new versions of all-terrain vehicles, the integration of production operations, the US making heavy investments on modernizing its marine fleets, the presence of key manufacturers like Electro Impact Inc. and Kawasaki Robotics, the government authorities focusing on investing in advanced technology propulsion systems, extensive R&D development, & huge procurement in military and commercial sectors are adding to the global amphibious ATV market growth in the region.
APAC to Have Favorable Growth in Amphibious ATV Market
The APAC region will have favorable growth in the amphibious ATV market over the forecast period. The significant increase in the need for advanced ACVs from India, Japan, and China, the increasing investments in the development of defense capabilities, growing automotive sector in Japan, India, and China, and the steep technological advances are adding to the global amphibious ATV market growth in the region.
Planet Resource Recovery, Inc. is pleased to announce that they have acquired MAX Amphibious All-Terrain Vehicle’s product line, tooling, assets, and intellectual property from Agile Vehicle Technologies Limited.
Segmentation of Market covered in the research:
Amphibious ATV Market Research Report: Information by Type (6x6 and 8x8), Application (Personal and Commercial), and Region - Forecast to 2030
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