All Terrain Vehicle (ATV) Market Size By Application (Sports, Entertainment, Agriculture, Military & Defense, Forestry), By Product (Sport ATV, Sport Utility ATV, Utility ATV, Youth ATV), Industry Analysis Report, Regional Outlook (U.S., Canada, UK, Germany, Russia, France, Australia, India, Japan, China, Mexico, Brazil, UAE, Saudi Arabia), Application Potential, Price Trends, Competitive Market Share & Forecast, 2016 – 2024

Published Date: September 2016 | 125 Pages | Report ID: GMI765 Report Format: PDF

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Summary Table of Contents Industry Coverage Methodology

Industry Trends

All Terrain Vehicle (ATV) Market size was valued at approximately USD 6 billion in 2015 and is anticipated to grow at 5.0% CAGR from 2016 to 2024.

U.S. All Terrain Vehicle (ATV) Market size, by application, 2013-2024 (USD Million)

U.S. All Terrain Vehicle (ATV) Market size, by application, 2013-2024 (USD Million)

Increasing disposable income and rising trend of recreational off-roading activities such as sports and racing will drive the industry over the forecast timeframe. Technological advancements such as infotainment systems makes it more user friendly and provides entertainment while driving. Mobile tracking, GPS tracking and Bluetooth connectivity further enhances the driving experience.

All-Terrain Vehicle Safety Institute (ASI) promotes and regulates the use of ATV approved helmets, seatbelts, or footrests. Regulatory norms regarding the number of passengers approved per vehicle and restrictions on the use of these vehicles for children below 16 years are some of the regulations mandated by government to reduce fatalities and injuries. The business is increasingly becoming popular in various parts of the globe owing to unique riding experience. Various outdoor parks and recreational facilities provide ATV riding as one of their amenities due to increasing consumer demand for off-roading.

Rising industry focus on developing eco-friendly versions owing to excessive sound and environmental pollution caused by traditional vehicles may propel all-terrain vehicle (ATV) market demand. The advent of hybrid models will have a positive impact on account of their highly fuel-efficient engine and minimal emissions. Increasing emphasis of manufacturers in developing lightweight as well as efficient models owing to their implementation across special purpose applications, such as military and defense sectors for moving combat supplies is may also contribute towards ATV market growth.

All Terrain Vehicle (ATV) Market, By Product

Sport utility ATV market share accounted for more than 28% of the overall industry revenue in 2015. Growth in the segment can be attributed to rising consumer preference for vehicles that can be used for both utility and sport applications. Youth ATV market size was valued at over USD 750 million in 2015. Gaining early experience of these vehicles would favor escalating demand of utility and sport models in the coming years.

As product usage poses immense risks, various companies are now focusing on developing safety measures such as airless tires, covered roof for rollover situations, efficient toggling between 2WD and 4WD for high efficiency, independent suspensions for better stability, and sustainability in variable weather conditions. Furthermore, innovation in technology, such as the introduction of puncture free Non-Pneumatic Tires (NPT), further eliminates the accidental risk from tire punctures.

All Terrain Vehicle (ATV) Market, By Application

Military and defense segment accounted for over 9% of the overall all-terrain vehicle market share. Rising adoption in customized applications across inaccessible locations for transportation and supplying armor would favor in increasing revenue over the forecast timeline. Agriculture sector is estimated to grow at 5.3% CAGR 2016 to 2024. Product adoption as a substitute for tractors and other heavy equipment for agriculture purpose will impel all-terrain vehicle market size.

Increasing demand for technically advanced features, such as integrated communication systems and display monitors will result in high product cost, which may pose a challenge over the next eight years.

All Terrain Vehicle (ATV) Market, By Region

U.S. ATV market size was valued at over USD 2.5 billion in 2015 and is likely to grow at 4.5% CAGR from 2016 to 2024. Rising trend regarding their usage in competitions along with introduction of youth ATV for children (age 6 years and above) are responsible for regional revenue generation. Asia Pacific ATV market share accounted for 12% of the overall revenue in 2015. Increasing adoption in agriculture, tourist attractions, search and rescue operations are responsible for revenue growth in the region.

Ensuring higher degree of safety and curbing negative environmental impact will be tantamount to consumption on a global scale. 

Competitive Market share

Key industry players contributing to ATV market share include Polaris, Honda, Yamaha, Arctic Cat, and Can-Am. Other prominent industry participants include Taiwan Golden Bee, Suzuki, Shuopu, Linhai, KYMCO, Kawasaki HiSun, John Deere and Cectek. The major manufacturers focus on mergers and acquisitions in order to gain industry share. For instance, in 2015, Polaris acquired China-based Hammerhead to expand its product line-up. In addition, this initiative is likely to help the company in curbing expenses of exporting completely built units from the U.S. and thus cause price reductions. The company also acquired Kolpin Outdoor in April 2014 to strengthen its foothold in business segments along with power sports.

Major participants spend heavily in R&D for new technology and efficient product development. The drive to enhance product features and performance, such as low maintenance, enables manufacturers to remain competitive in the industry.

All Terrain Vehicle (ATV) Industry Background

California Air Resources Board (CARB) deals with vehicle emission regulations to control air pollution. This law states that all ATVs must be certified to demonstrate that their exhaust and vehicle evaporation emission control systems are in compliance with CARB-stated emission standards. In addition, onboard diagnostic, anti-tampering, crankcase emission, and fuel tank fill pipe & openings must also follow CARB guidelines. These aid in controlling the increasing number of air pollutants and health problems.

The integration of mobile phones, Go-Pro cameras, and audio entertainment in recreational off-road vehicles provides enhanced driving experience. Moreover, integrated Bluetooth headsets’ connectivity acts as a communication channel between riders. The touch screen dashboard integrated monitor tracks and displays vehicle diagnostics, displays navigational tools, and can also be operated with glove-covered fingers.

What Information does this report contain?

What was the historic market data from 2013 to 2015, what is the industry growth forecast from 2016 to 2024?
A detailed analysis of regulatory trends, growth drivers, industry pitfalls, challenges and opportunities for participants
Which are the leading market products, applications & regions and how will they perform by 2024?
What are the technology & innovation trends, how will they evolve by 2024?
Which companies lead the industry, how are they positioned in the market in terms of sustainability, competency, production capacity and strategic outlook?

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