All-Terrain Vehicle Market by Type (Utility ATV and Sport ATV); Drive Type (2-wheel drive, 4-wheel drive, and All-wheel drive); Engine Capacity (<400 CC, 400 to 800 CC, and > 800 CC); Fuel Type (Gasoline and Electric): Global Market Size Estimates and Forecast (2022-2030)

Code: BMIRE00026575 | Pages: 100 | Industry: Automotive and Transportation | Date: Oct 2022 | Type: Global

The market crossed US$ 4.3 billion mark in 2022 and is expected to hit US$ 5.0 billion by 2030, recording a CAGR of 2.7% during the forecast period.

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Surging demand for recreational activities, agriculture, and military operations to boost the market growth.

The Number of recreational events is constantly growing every year. Sports leaders manage the ATV championships with off-terrain ATVs in challenging national-level conditions. The US holds numerous racing events annually where players compete for titles and rewards. World Off-Road Championship Series (WORCS) is one of the most significant racing events organized in the country. Additionally, John Deere, agricultural and farm equipment manufacturer, recently launched UTV models for farming applications. This growth is owing to the increased need for UTVs by clients working in the agriculture sector for various applications.

The All-Terrain Vehicle Market is experiencing a rise in Two-seat ATVs

Two-seat ATVs are prepared to have both the rider and the passenger. Two-seat ATVs are commonly used for recreational riding, transporting cargo, towing, etc. These ATVs vary from sports ATVs which are smaller, lighter, and designed for fast, extreme riding. The need for two-seater ATVs is counted to grow during the projection years due to a change in consumer patterns and the likeliness for two-seater ATVs and their associated benefits for recreational and occupational purposes.

Positive outlook toward electric ATVs is one of the Major Factors Accelerating All-Terrain Vehicle Market growth.

The adoption of technologies connected to electric ATVs has been growing among ATV manufacturers. Leading needs for electric ATVs such as China, the US, and Germany are financing heavily in R&D infrastructure for off-road vehicles. Due to emission laws being upgraded by different countries, most of the investments are likely to go towards creating electric-powered vehicles, and the same applies to the ATV market..

 

Recent strategic developments in the All-Terrain Vehicle Market

The All-Terrain Vehicle market has undergone several significant developments, and a few of these have been mentioned below:

  • In October 2021, Polaris introduced their first electric drive train lineup powered by 110HP, 140lb-ft torque electric motor. It features three drive modes for the customer to choose from and has an 80-mile drive range on a single full charge. The vehicle also supports fast charging for its battery pack.
  • In July 2021, Polaris acquired a new manufacturing facility at Monticello and now has in-house die casting capabilities making it a vertically integrated facility enabling better quality products and production efficiency.

Several players drive the All-Terrain Vehicle market by implementing strategic activities such as investments, new launches, mergers & acquisitions, and partnerships. Arctic Cat (Textron); Can-AM (BRP); CFMOTO; Honda Motor Co., Ltd.; Jiangsu Linhai Power Machinery Group Corp.; Kawasaki Motors Corp., U.S.A;  Polaris Inc.; Suzuki Motor of America, Inc.; Taiwan Golden Bee Co. (TGB); Yamaha Motor Corporation. are among the prominent players operating in the All-Terrain Vehicle Market.

The target audience for the report:

  • Raw material providers
  • All-Terrain Vehicle Manufacturers
  • All-Terrain Vehicle service providers
  • Lawn Mowe-related associations, organizations, forums, and alliances
  • Government bodies, such as regulating authorities and policymakers
  • Venture capitalists, private equity firms, and start-up companies
  • All-Terrain Vehicle component suppliers
  • All-Terrain Vehicle and components distributors and sales firms
  • End users of Electric Vehicle
  • Research institutes, organizations, and consulting companies

Scope of the report:

In this report, the All-Terrain Vehicle market has been segmented based on:

  • By Type:
  • Utility ATV
  • Sport ATV.
  • By Drive Type :
  • 2-wheel drive
  • 4-wheel drive
  • All-wheel drive.
  • By Engine Capacity :
  • <400 CC
  •  400 to 800 CC
  •  > 800 CC
  • By Fuel Type :
  • Gasoline
  • Electric
  • Region
    • North America
    • Europe
    • Asia Pacific (APAC)
    • Rest of the World
  • Companies profiled
    • Arctic Cat (Textron)
    •  Can-AM (BRP)
    •  CFMOTO
    •  Honda Motor Co., Ltd.
    •  Jiangsu Linhai Power Machinery Group Corp.
    •  Kawasaki Motors Corp., U.S.A.
    •  Polaris Inc.
    •  Suzuki Motor of America, Inc.
    •  Taiwan Golden Bee Co. (TGB)
    •  Yamaha Motor Corporation.

The List of Companies
- Arctic Cat (Textron)
- Can-AM (BRP)
- CFMOTO
- Honda Motor Co., Ltd.
- Jiangsu Linhai Power Machinery Group Corp.
- Kawasaki Motors Corp., U.S.A.
- Polaris Inc.
- Suzuki Motor of America, Inc.
- Taiwan Golden Bee Co. (TGB)
- Yamaha Motor Corporation.

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