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市場調查報告書
商品編碼
1647391
2018年至2032年印度全地形車市場評估:依驅動類型、應用、座位數、引擎容量、燃料、地區、機會和預測India All-terrain Vehicle Market Assessment, By Drive Type, By Application, By Seating Capacity, By Engine Capacity, By Fuel, By Region, Opportunities and Forecast, FY2018-FY2032F |
印度全地形車市場預計將從2024年度的4.9461億美元成長到2032年度的7.6227億美元,預測期內(2025年度 -2032年度)的年複合成長率為 5.56%。推動該成長的關鍵因素有幾個,包括車輛的多功能性、年輕人日益參與娛樂活動、人們的可支配收入不斷增加以及車輛的技術進步。
全地形車(ATV)如今已成為提供獨特休閒體驗的重要組成部分,使用戶可以探索傳統車輛難以到達的具有挑戰性的地形。全地形車是探險旅遊的重要組成部分,尤其受到想要探索該國所有地形和風景名勝的外國人的歡迎。除了休閒用途外,全地形車在農業和軍事/國防領域也有廣泛的用途。軍隊用它們進行監視,砲兵團用它們運送物資。例如,2024年 8月,印度陸軍根據 "印度製造" 計畫從 JSW Gecko Motors(Gecko Motors Private Limited)接收了 96 輛特種機動車 N1200 ATOR ATV。這些車輛具有獨特的設計能力,可以穿越各種地形,包括雪地、泥地和岩石。此外,全地形車在農業領域也有廣泛應用,有助於作物監測、灌溉和運輸。這種多功能性使它們不僅成為休閒的寶貴資產,也適用於各種行業的實際應用。
此外,印度 ATV 市場經歷持續的進步,例如使用電動系統和先進的安全功能。消費者可支配收入的增加加上生活方式的改變預計將推動未來對 ATV 的需求。開發人員不斷開發和提供複雜的功能以滿足不斷變化的客戶需求。隨著不斷的創新和技術突破,印度 ATV 市場有望進一步成長,為製造商、經銷商和消費者提供巨大的潛力。該公司推出專為體育、軍事和農業等某些專業應用而設計的全地形車,進一步增加其市場佔有率並推動印度全地形車市場的成長。
上述公司並未根據市場佔有率排序,並且可能會根據研究工作期間可用的資訊而變更。
India all-terrain vehicle market is projected to witness a CAGR of 5.56% during the forecast period FY2025-FY2032, growing from USD 494.61 million in FY2024 to USD 762.27 million in FY2032. Several key factors are driving growth such as the versatility of the vehicle, increasing youth participation in recreational activities, rising disposable income of people, and technological advancements in vehicles.
All-terrain vehicles (ATVs) have now become a big part of providing unique recreational experiences, allowing users to explore tough terrain that is hard for normal vehicles to reach. They are essential for adventure tourism, especially among foreigners who want to explore every terrain of the country and every scenic location of the country. Beyond recreational use, ATVs have versatile applications in agriculture and the military and defense sector. They are used in the military for surveillance and in the artillery regiment for the transport of goods. For instance, in August 2024, the Indian army received 96 specialty mobility vehicles N1200 ATOR ATV under the Make in India initiative from JSW Gecko Motors (Gecko Motors Private Limited). These vehicles were designed with unique capabilities that enable them to traverse a wide range of terrains including snow, mud, and rocky mountains. Moreover, ATVs are widely used in the agricultural sector, where they help in crop monitoring, irrigation, and transportation. This versatility makes them valuable assets not only for leisure but also for practical applications in various industries.
Additionally, India ATV market is experiencing continuous advancements such as the use of electric powertrains and advanced safety features. Consumers' increased disposable income, combined with their evolving lifestyle, is projected to drive ATV demand in the future years. Manufacturers are continually developing and providing sophisticated features to fulfill the changing needs of their customers. With continual innovation and technical breakthroughs, India's ATV market is primed for further growth, providing significant potential for manufacturers, dealers, and consumers. Companies are introducing ATVs specially designed for specific professional applications including sports, military, and agriculture, among others, further expanding their market share and driving growth in the India all-terrain vehicle market.
Rising Adventure Tourism to Drive Market Growth
The growing trend of adventure tourism drives the all-terrain vehicle market in India. India offers a vast geographical landscape ranging from the Himalayas to the coastal region providing ample opportunities for ATV excursion. Additionally, the growing trend among tourists to seek outdoor experiences as an experiential ride makes ATVs a preferred choice for them. The economic benefits of adventure tourism also result in job creation and support to local businesses, including ATV rentals and guided tours, which fosters market growth. ATVs are becoming increasingly appealing to consumers due to safety features and technology advancements, as well as the introduction of new electric variants that represent the growing trend toward sustainability while also providing consumer options.
For instance, in November 2022, Rohnel Motors, introduced a lineup of electric ATVs in India, including Raven 1200W, Beast 1200W, Zeus 3000W, Ranger 4000W, and Patriot 5000W. These vehicles have low operating noise, are eco-friendly, and can be charged at any home electric point.
Youth and Millennials to Boost India All-Terrain Vehicle Market Growth
ATVs are gaining popularity among youth and millennials and increasing adoption by them for adventure sports and outdoor recreational activities are driving market growth. ATVs have become a symbol of excitement and adventure among younger generations for memorable experiences. Moreover, the increasing disposable income of consumers is fostering more growth as more families and friends are looking for thrilling adventures. The rise of social media is also playing an important role in attracting youth. Additionally, companies are collaborating with multiple influencers, sharing their adventurous experiences online, which fuels more interest among youth and ultimately increases sales for the company. Moreover, multiple parks and tour operators have capitalized on this trend by offering ATV and off-road experiences, creating an ecosystem that supports the growth of the ATV market. Companies are also introducing multiple ATVs to enhance the experience of youth and millennials.
For instance, in August 2022, Polaris Inc. launched its Polaris RZR Pro Sport in India. The vehicle is mainly made for off-road purposes, equipped with a 2.0-litre, 4-cylinder engine, and comes with an automatic transmission that generates 222 BHP power.
For instance, in March 2024, Powerland Agro Tractor Vehicles Pvt. Ltd., launched the Powerland Tachyon 4x4, an electric all-terrain vehicle in the Indian market. It is driven by an 11-kWh battery pack and a PMSM electric motor that produces 800 Nm of torque and 50 horsepower.
Northern India to Dominate All-Terrain Vehicle Market Share
The Northern region of India is expected to dominate the all-terrain vehicle market owing to geographical advantages, rising adventure tourism, and increasing disposable incomes of consumers. It comprises tourist destinations such as Himachal Pradesh and Uttarakhand, which are known for their rugged terrains and outdoor recreational activities. In such regions, adventure sports are highly sought after, and demand for ATVs has significantly increased since these machines are well suited to tackle such tough landscapes and have activities on rough terrain.
The increasing disposable income of the youth and millennials in this region also plays a crucial role. As financial resources increase, this demographic is willing to invest in recreational vehicles such as ATVs to seek unique experiences that fit their adventurous lifestyles. Moreover, the region is also seeking more demand due to the high deployment of the army in the region, which uses these vehicles for their operations
For instance, in November 2024, the Indian government began procuring all-terrain vehicles for the Indian army's deployment along the northern border. These vehicles would serve as observation vehicles, mobile platforms for weaponry use, and logistical resupply platforms during operations.
Future Market Scenario (FY2025 - FY2032F)
Increasing collaboration and technological advancements are expected to influence the demand for all-terrain vehicles in the Indian market.
Demand for all-terrain vehicles in the military is expected to elevate due to the increasing budget of the Indian army and the heavy use of all-terrain vehicles in border areas.
Rising adventure tourism is driving demand for ATVs, as more consumers seek thrilling outdoor experiences and recreational activities.
Increasing purchasing power and increasing exposure to off-road travel among youth and millennials is expected to influence the demand for ATVs.
Key Players Landscape and Outlook
Key companies in the Indian all-terrain market are diversifying their product lines and providing more robust and technologically advanced vehicles. Additionally, many companies are collaborating with technically advanced institutions and investing heavily in research and development to enhance the features and performance of their vehicles.
For instance, in September 2024, A-Thon AllTerrain Private Limited, in collaboration with the AI and Robotics Technology Park (Artpark) showcased India's first home-grown All-Terrain Vehicle (ATV) Ashva 4x4 at International Autoshow 2024, held at Palace Grounds. This vehicle is designed for diverse agricultural applications. Moreover, companies are highly leveraging electric powertrains, advanced safety systems, and connection features to attract more people and increase market share.
Furthermore, the competitive domain is evolving as both international brands and local players are striking to capture market share. This dynamic competition embraces innovation and drives down prices, making ATVs more accessible to a wider audience.
Companies mentioned above DO NOT hold any order as per market share and can be changed as per information available during research work.