Impact Analysis of Covid-19

The complete version of the Report will include the impact of the COVID-19, and anticipated change on the future outlook of the industry, by taking into the account the political, economic, social, and technological parameters.

All-terrain vehicles are also known as quad bikes. There are two variants of quad bikes: three wheeler and four wheeler. All-terrain vehicles are capable of reaching remote areas in dessert, mountains, and snow lands. The lighting systems of ATV can be categorized into: front lighting and rear lighting. Due to recent developments in LED technology, the demand for ATV lighting systems have increased in the recent years. For instance, companies such as Piaa Corporation have specially designed LED and halogen lights for all-terrain vehicles. Moreover, companies are also launching electric all-terrain vehicles. For instance, Ecocharger Company launched electric ATV vehicle in December 2018. 

The global all-terrain vehicle (ATV) lighting systems market is expected to witness significant growth during the forecast period (2020–2027). The market growth is majorly attributed to increasing number of ATV racing events across the globe. For instance, MX sports have scheduled 10 ATV events for the year 2020. Such racing events are increasing the popularity of ATV bikes and are expected to drive the market growth during the forecast period.

The major restraining factor for global all-terrain vehicle (ATV) lighting systems market is the high initial cost of the vehicle. The average price of ATV vehicle is around US$ 10,000.

COVID-19 pandemic has also affected the economies of various countries across the globe. For instance, according to World Trade Organization, the export volume of the U.S. in the first two weeks of March 2020 dropped down by 50% when compared to the previous year. The International Monetary Fund also reduced the projected growth rate of India for FY 2021 in March 2020 from 5.8% to 1.8%. In the economic slowdown, the GDP per capita also reduced due to which the consumers are spending money only for necessities such as food and shelter. Therefore, COVID-19 is acting as a challenge for the market growth during the forecast period.

Increasing number of all-terrain vehicle (ATV) championship and events in North America is expected to drive the market growth during the forecast period

Statistics:

North America held dominant position in the global all-terrain vehicle lighting systems market in 2019, accounting for 37.5% share in terms of value, followed by Europe and Asia Pacific, respectively.

Figure 1: Global All-Terrain Vehicle Lighting Systems Market Share (%)in Terms of Value, By Region, 2019

All-Terrain Vehicle (ATV) Lighting Systems  | Coherent Market Insights

North America held dominant position in the global all-terrain vehicle (ATV) lighting systems market in 2019 and is projected to retain its dominance throughout the forecast period. This is owing to increasing number of ATV events in the recent years. For instance, according to CMI analysis, in Ontario, Canada, around 60 ATV events were held in the year 2019. Ontario is a province in Canada, which is popularly known for ATV events. CGHSF Foundation organized an ATV event to raise fund for the new MRI machine in Owen Hospital in Ontario in September 2018. Due to such events, popularity of ATV sports is increasing and lighting systems are an important part of  ATV vehicles. ATVs are off-road vehicles and mostly driven on remote dessert or mountain areas. Therefore, visibility at the time of night or bad weather is very much important to avoid the risk of accidents.

Asia Pacific region is expected to show highest growth during the forecast period. In countries such as India, ATV sports is becoming popular. In March 2019, Auto Sports India organized ATV championship in three categories: Drag race, Solo Dirt Race, and Endurance Race in Goa. The popularity of ATV sports is expected to increase in the near future. Owing to these reasons, the all-terrain vehicle lighting systems market is expected to show a significant growth during the forecast period in Asia Pacific region.

Major players operating in the global all-terrain vehicle (ATV) lighting systems market include Baja Designs, Lazer Star Lights, Nextech Industries, Oracle Lighting, Piaa Corporation, Plasmaglow, Polaris Industries, Vision X USA, Warn Industries, and Xprite.

Surge in demand for OEM ATV lighting parts across the globe is expected to drive growth of the market during the forecast period

Among suppliers, OEM sub-segment is expected to hold dominant position in the global all-terrain vehicle lighting systems market during the forecast period. This is owing to the easily availability of ATV OEM parts and first year warranty given by the ATV companies. Most ATV companies such as American Honda Motor Co., Inc are now offering 1 year warranty on new vehicles. If any parts gets damaged within 1 year, then company replaces it free of cost. Also, American Honda Motor Co., Inc offers extended warranty of 5 years under the Honda Care Protection Plan. Moreover, OEM parts are more reliable and can be easily replaced with the damaged parts. Owing to these reasons, the market is expected to show a significant growth during the forecast period.

Figure 2: Global All-Terrain Vehicle Lighting Systems Market Value (US$ Mn), 2016 - 2027

All-Terrain Vehicle (ATV) Lighting Systems  | Coherent Market Insights

The global all-terrain vehicle lighting systems market was valued at US$ 107.7 Mn in 2019 and is expected to reach a value of US$ 138.6 Mn by 2027 at a CAGR of 3.2% between 2020 and 2027.

All-terrain vehicles are off-road vehicles, which are also known as quad bikes. Due to technological advancements, companies such as Rissala Electric Motor Pvt Ltd started to manufacture electric ATV bikes. Lighting systems are important parts of ATV vehicles. ATVs are off-road vehicles and mostly driven in remote dessert or mountain areas. Therefore, visibility at the time of night or bad weather is very much important to avoid the risk of accidents. Moreover, due to recent developments in LED technology, the demand for ATV lighting systems have increased in the recent years. For instance, companies such as Piaa Corporation have specially designed LED and halogen lights for all-terrain vehicles.

Market Dynamics

The global all-terrain vehicle (ATV) lighting systems market is expected to exhibit significant growth during the forecast period, owing to recent innovations that made ATV racing more secure. For instance, Yamaha Motor Pvt. Ltd. and French helmet maker, Shark Helmets launched a specially designed ATV racing helmet Shark-16 in April 2017.The Shark-16 is light in weight and made up of composite fiber, which delivers maximum protection. The probability of rider falling from ATV vehicle is high, as ATVs are off-road vehicles. Point to vest company designed special jackets for the ATV riders. This jacket is connected with the ATV so that if rider falls from the ATV, the jacket instantaneously gets filled with three liters of carbon dioxide. Owing to the above mentioned reasons, ATV racing has become more secure. The above mentioned factors are expected to aid in positive growth of the market.

Key features of the study:

  • This report provides in-depth analysis of global all-terrain vehicle (ATV) lighting systems market size (US$ Million), and compound annual growth rate (CAGR %) for the forecast period (2020– 2027), considering 2019 as the base year
  • It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market
  • This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, regional outlook, and competitive strategies adopted by the leading  market players
  • It profiles leading players in the global all-terrain vehicle (ATV) lighting systems market based on the following parameters – company overview, financial performance, product portfolio, geographical presence, market capital, key developments, strategies, and future plans
  • Companies covered as part of this study include Baja Designs, Lazer Star Lights, Nextech Industries, Oracle Lighting, Piaa Corporation, Plasmaglow, Polaris Industries, Vision X USA, Warn Industries, and Xprite
  • Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, product upgrades, market expansion, and marketing tactics
  • The global all-terrain vehicle (ATV) lighting systems market report caters to various stakeholders in this industry including investors, suppliers, managed service providers, third-party service providers, distributors, new entrants, and value-added resellers.
  • Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global all-terrain vehicle (ATV) lighting systems market

Detailed Segmentation

  • Global All-Terrain Vehicle (ATV) Lighting Systems Market, By Type:
    • Rear Lightning
    • Front lightning
    • Others
  • Global All-Terrain Vehicle (ATV) Lighting Systems Market, By Supplier:
    • Aftermarkets
    • OEM
  • Global All-Terrain Vehicle (ATV) Lighting Systems Market, By Region:
    • North America
      • By Type :
        • Rear Lightning
        • Front Lighting
        • Others
      • By Supplier:
        • Aftermarkets
        • OEM
      • By Country:
        • U.S.
        • Canada
    • Europe
      • By Type :
        • Rear Lightning
        • Front Lighting
        • Others
      • By Supplier:
        • Aftermarkets
        • OEM
      • By Country:
        • Germany
        • U.K.
        • France
        • Italy
        • Spain
        • Russia
        • Rest of Europe
    • Asia Pacific
      • By Type :
        • Rear Lightning
        • Front Lighting
        • Others
      • By Supplier:
        • Aftermarkets
        • OEM
      • By Country:
        • China
        • India
        • Japan
        • Australia
        • South Korea
        • ASEAN
        • Rest of Asia Pacific
    • Latin America
      • By Type :
        • Rear Lightning
        • Front Lighting
        • Others
      • By Supplier:
        • Aftermarkets
        • OEM
      • By Country:
        • Brazil
        • Mexico
        • Rest of Latin America
    • Middle East and Africa
      • By Type :
        • Rear Lightning
        • Front Lighting
        • Others
      • By Supplier:
        • Aftermarkets
        • OEM
      • By Country:
        • GCC Countries
        • South Africa
        • Rest of Middle East and Africa
  • Company Profiles
    • Baja Designs
      • Company Overview
      • Product Portfolio
      • Financial Performance
      • Key Strategies
      • Recent Developments/ Updates
    • Lazer Star Lights 
    • Nextech Industries
    • Oracle Lighting
    • Piaa Corporation
    • Plasmaglow
    • Polaris Industries
    • Vision X USA
    • Warn Industries
    • Xprite

 “*” marked represents similar segmentation in other categories in the respective section.

Table of Contents

  1. Research Objectives and Assumptions
    • Research Objectives
    • Assumptions
    • Abbreviations
  2. Market Purview
    • Report Description
      • Market Definition and Scope
    • Executive Summary
      • Market Snippet, By Type
      • Market Snippet, By Supplier
      • Market Snippet, By Region
    • Coherent Opportunity Map (COM)
  3. Market Dynamics, Regulations, and Trends Analysis
    • Market Dynamics
      • Drivers
      • Restraints
      • Market Opportunities
      • Regulatory Scenario
      • Industry Trend
      • Merger and Acquisitions
      • New Systems Launch/Approvals
      • Value Chain Analysis
      • Porter’s Analysis
      • PEST Analysis
  4. Global All-Terrain Vehicle Lighting Systems Market, By Type, 2017-2027  (US$ Million)
    • Introduction
      • Market Share Analysis, 2017 and 2027 (%)
      • Segment Trends
    • Rear Lighting
      • Introduction
      • Market Size and Forecast, 2019–2027, (US$ Million)
    • Front Lighting
      • Introduction
      • Market Size and Forecast, 2019–2027, (US$ Million)
    • Others
      • Introduction
      • Market Size and Forecast, 2019–2027, (US$ Million)
  5. Global All-Terrain Vehicle Lighting Systems Market, By Supplier, 2017-2027  (US$ Million)
    • Introduction
      • Market Share Analysis, 2017 and 2027 (%)
      • Segment Trends
    • Aftermarkets
      • Introduction
      • Market Size and Forecast, 2019–2027, (US$ Million)
    • OEM
      • Introduction
  6. Global All-Terrain Vehicle Lighting Systems Market, By Region, 2017-2027  (US$ Million)
    • Introduction
      • Market Share Analysis, By Region, 2017 and 2027 (%)
    • North America
      • Regional Trends
      • Market Size and Forecast, By Type, 2019–2027 (US$ Million)
      • Market Size and Forecast, By Supplier, 2019–2027 (US$ Million)
      • Market Share Analysis, By Country, 2019 and 2027 (%)
        • U.S.
        • Canada
    • Europe
      • Regional Trends
      • Market Size and Forecast, By Type, 2019–2027 (US$ Million)
      • Market Size and Forecast, By Supplier, 2019–2027 (US$ Million)
      • Market Share Analysis, By Country, 2019 and 2027 (%)
        • U.K.
        • Germany
        • Italy
        • France
        • Russia
        • Rest of Europe
    • Asia Pacific
      • Regional Trends
      • Market Size and Forecast, By Type, 2019–2027 (US$ Million)
      • Market Size and Forecast, By Supplier, 2019–2027 (US$ Million)
      • Market Share Analysis, By Country, 2019 and 2027 (%)
        • China
        • India
        • Japan
        • ASEAN
        • Australia
        • South Korea
        • Rest of Asia Pacific
    • Latin America
      • Regional Trends
      • Market Size and Forecast, By Type, 2019–2027 (US$ Million)
      • Market Size and Forecast, By Supplier, 2019–2027 (US$ Million)
      • Market Share Analysis, By Country, 2019 and 2027 (%)
        • Brazil
        • Argentina
        • Mexico
        • Rest of Latin America
    • Middle East and Africa
      • Regional Trends
      • Market Size and Forecast, By Type, 2019–2027 (US$ Million)
      • Market Size and Forecast, By Supplier, 2019–2027 (US$ Million)
      • Market Share Analysis, By Country, 2019 and 2027 (%)
        • South Africa
        • GCC Countries
        • Rest of the Middle East
  7. Competitive Landscape
    • Company Profiles
      • Baja Designs
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Lazer Star Lights
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Nextech Industries
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Oracle Lighting
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Piaa Corporation
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Plasmaglow
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Polaris Industries
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Vision X USA.
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Warn Industries
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Xprite
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
    • Analyst Views
  8. Section
    • References
    • Research Methodology
    • About us and Sales Contact

*Browse 60 market data tables and 40 figures on "All-Terrain Vehicle Lighting Systems Market - Global forecast to 2027”.

Frequently Asked Questions

The global market for all-terrain vehicle (ATV) lighting systems is expected to reach US$$ 118.4 Million by 2022.
Increasing popularity of ATV events is expected to drive growth of the global all-terrain vehicle (ATV) lighting systems market during the forecast period.
OEM segment held the largest market share, contributing 64.7% market share in terms of value in 2019.
North America region held the largest share in the global all-terrain vehicle (ATV) lighting systems market in 2019, accounting for 37.5% share in terms of value.
Key players operating in the global all-terrain vehicle (ATV) lighting systems market include Baja Designs, Lazer Star Lights, Nextech Industries, Oracle Lighting, Piaa Corporation, Plasmaglow, Polaris Industries, Vision X USA, Warn Industries, and Xprite.
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