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The global all-terrain vehicle (ATV) lighting systems market was valued at US$ 107.7 million in 2019 and is expected to surpass US$ 138.6 million by 2027, registering a CAGR of 3.2% over the forecast period (2020-2027, according to Global All-Terrain Vehicle (ATV) Lighting Systems Market Report, by Type (Rear Lighting, Front Lighting, and Others), by Supplier (OEM and Aftermarkets), and by Region (North America, Europe, Asia Pacific, Latin America, Middle East, and Africa), published by Coherent Market Insights.

Rising technological developments in ATV bikes with upgraded performance and increase in demand for off-road vehicles are expected to significantly drive growth of the market. Many companies across the globe are trying to increase the performance of ATV bikes by technical innovations and up gradations. For instance, Can-Am motorcycles Corporation have upgraded the Outlander ATV every year since 2016 due to the increasing demand for higher performance ATV vehicles. Moreover, the SC Group launched electric ATV Dominator in Tasmania, Australia in May 2018. The demand for electric vehicles have also increased in the recent years. Lighting systems are important parts of ATV vehicle. 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. Owing to these reasons, the sales of ATV along with all-terrain vehicle lighting systems market are expected to exhibit significant growth over the forecast period.

Furthermore, the advancements in LED technology is expected to drive the market growth over the forecast period. LED lights have advantages such as instantaneous illumination, long life, and high brightness. Companies such as Nextech Industry have specially designed LED lights for ATV vehicles. Owing to these reasons, the all-terrain vehicle lighting systems  market is expected to exhibit significant growth during the forecast period.

To know the latest trends and insights prevalent in this market, click the link below:

Browse 150 market data tables* and 90 figures* on “Global All-Terrain Vehicle (ATV) Lighting Systems Market” - Global forecast to 2027

https://www.coherentmarketinsights.com/market-insight/all-terrain-vehicle-lighting-system-market-3812

Key Trends and Analysis of the Global All-Terrain Vehicle (ATV) Lighting Systems Market:

  • North America held dominant position in the global all-terrain vehicle (ATV) lighting systems market in 2019 and is expected to retain its dominance throughout the forecast period. This is owing to increase in the number of ATV events. For instance the, in Ontario, Canada, around 60 ATV events were held in the year 2019.
  • Asia Pacific is expected to show significant growth throughout the forecast period, owing to increasing popularity of ATV racing events. For instance, in March 2019, Auto Sports India organized ATV championship in three categories: Drag race, Solo Dirt Race, and Endurance Race in Goa.
  • Europe, Middle East and Africa are also expected to show significant growth during the forecast period, owing to increasing demand for automobile racing sports
  • Among supplier, the OEM segment held dominant position in the market in 2019 and is expected to retain its dominance during the forecast period. This is owing to the one year warranty provided by the ATV manufacturers. For instance, American Honda Motor Co., Inc is offering 1 year warranty on new vehicles. If any part of the vehicle 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.
  • 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
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