Home > Automotive & Transportation > All-Terrain Vehicle (ATV) Market

All-Terrain Vehicle (ATV) Market Size By Product (Youth, Adult), By Displacement (Below 400cc, 400 - 800cc, Above 800cc), By Application (Utility, Sports, Recreation, Military), COVID-19 Impact Analysis, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2022 – 2030

  • Report ID: GMI765
  • Published Date: Aug 2022
  • Report Format: PDF

ATV Industry Drivers

All-Terrain Vehicle Market size exceeded USD 3 billion in 2021 and is projected to expand at over 6% CAGR from 2022 to 2030. Increasing investments focused on improving vehicle performance, such as higher torque, output, and enhanced maneuverability, and elevating the overall customer experience will propel the industry expansion.
 

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Automobile manufacturers have been leveraging progressive technologies such as electric drive train systems and integrating advanced features, including GPS displays, high-end stereos, and plush seating, to offer superior stability and smoothen ride experience over challenging terrains. For instance, in August 2022, Honda Motor Co., Ltd. introduced the FourTrax range of rec/utility ATVs equipped with an electronic shift program, automatic transmission with hydraulic torque converter, and electric starter with auxiliary recoil. Rising government support to aid the development of adventure trails for off-road vehicles may escalate the market outlook.
 

Emergence of advanced technologies to augment the demand for youth ATVs

The all-terrain vehicle market from youth segment is predicted to observe more than 10% growth rate till 2030. Youth ATVs are loaded with advanced technologies and standard safety equipment, such as variable transmission, anti-braking systems, seat belts, roll cages, windshields, etc., accelerating their adoption over the coming years. In addition, their capability to accommodate numerous passengers will help them gain significant traction.
 

Increasing investments by key players to boost the 400-800cc ATV segment

The 400-800cc ATVs segment is estimated to grow at a CAGR of over 5% through 2030, credited to the rising utilization of ATVs with a 400cc-800cc displacement rate in several utility, rescue, and search operations. Besides, substantial investments and efforts by companies to introduce ATVs loaded with versatile features to meet consumer expectations may positively influence the industry landscape.
 

Availability of products with advanced capabilities for recreational applications

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The recreation application in the all-terrain vehicle market accounted for nearly 40% of the revenue share in 2021, driven by surging requirement for ATVs with higher displacement engines capable of delivering higher input for off-road sports activities. Moreover, the increasing technological advancements focused on developing vehicles with sharp handling and superior performance may push the ATV market share.
 

Increasing utilization in farming activities in the APAC region

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Asia Pacific ATV market size is poised to register more than 7% gains between 2022 and 2030. The optimistic scenario of the regional agricultural sector, coupled with the rising integration of ATVs in several farming practices, may propel regional ATV’s sales. ATVs have emerged as an efficient alternative to manpower for farming purposes. The incorporation of these vehicles significantly minimizes manpower requirements, thus saving a lot of time and expenses and enhancing regional growth trends.
 

Partnerships to define the competitive landscape

Major companies partaking in the all-terrain vehicle market include Polaris, Arctic Cat Inc., Bombardier Recreational Products, Hisun, Honda Motor Co., Ltd, and Yamaha Motor Corporation. The ecosystem also involves various prominent players such as CF Moto, ARGO, KYMCO, and Suzuki Motor Corporation. These leaders are developing strategic associations with prominent OEMs to address the increased demand and deliver improved product offerings based on industry requirements.
 

For instance, in August 2022, Arctic Cat Inc. selected Garmin International, Inc. to supply customized 5.5-inch Tread navigators for its Wildcat XX Black Hills Edition of side-by-side vehicles. The partnership aims to support the company in supplying a progressive product line to the customers. The navigators will feature in Arctic Cat Inc., 2023 Wildcat XX Black Hills Edition.
 

Impact of COVID-19 on the ATV market

The industry suffered a substantial setback due to the COVID-19 virus outbreak. A significant drop in road transport and recreational activities owing to the surging number of infections and the imposition of social distancing norms to mitigate the crisis hampered the market growth. The halted operations across industries dealing in non-essential commodities deeply and stringent trade barriers resulted in the scarcity of raw materials and deeply impacted supply chain management.
 

However, the much-needed boost offered by governments across several economies through investments and policy support helped in industry revival. Furthermore, with the lockdown mandates slowly easing up across numerous countries and the gradual recovery of the travel and tourism sector, the market is set to witness substantial growth.
 

This market research report on all-terrain vehicle includes in-depth coverage of the industry with estimates & forecast in terms of “Units” & “USD” from 2018 to 2030, for the following segments:

Market, By Product:

  • Youth
  • Adult

Market, By Displacement

  • Below 400cc
  • 400cc - 800cc
  • Above 800cc

Market, By Application:

  • Utility
  • Sports
  • Recreation
  • Military

The above information has been provided for the following regions and countries:

  • North America
    • U.S.
    • Canada
  • Europe
    • UK
    • Germany
    • France
    • Spain
    • Russia
  • Asia Pacific
    • China
    • India
    • Japan
    • Thailand
    • Malaysia
    • Indonesia
    • South Korea
  • Latin America
    • Brazil
    • Mexico
    • Argentina
  • MEA
    • UAE
    • Saudi Arabia
    • South Africa

 

Authors: Preeti Wadhwani, Prasenjit Saha

Frequently Asked Questions (FAQ) :

The market size of ATV surpassed USD 3 billion in 2021 and is expected to grow at over 6% CAGR between 2022 and 2030, driven by the increasing investments focused on improving vehicle performance.
The youth ATV segment is expected to record an appreciable target valuation by 2030, depicting over 10% CAGR during the assessment timeframe, owing to the emergence of progressive technologies and the integration of standard safety equipment.
The recreation segment accounted for over 40% of the ATV market share in 2021 and is speculated to depict significant growth trends through 2030due to the increasing product utilization in off-road sports activities.
Major companies participating in the all-terrain vehicle (ATV) market landscape are Polaris, Arctic Cat Inc., Bombardier Recreational Products, Hisun, Honda Motor Co., Ltd, and Yamaha Motor Corporation, among others

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Premium Report Details

  • Base Year: 2021
  • Companies covered: 13
  • Tables & Figures: 389
  • Countries covered: 20
  • Pages: 197
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