North America Youth ATV & UTV Market Size

North America Youth ATV & UTV Market Size

North America Youth ATV & UTV Market size was valued at over USD 245 million in 2017 and is estimated to exhibit over 6.5% CAGR from 2018 to 2024.

Growing penetration of sports and recreational activities will drive the North America youth ATV & UTV market over the forecast period. Increasing outdoor parks and recreational facilities such as off-road trails are positively influencing the industry demand. Moreover, advancement in infotainment services in off-road vehicles including GPS tracking and Bluetooth connectivity to enhance consumer experience and safety will boost the industry growth.

Proliferating sports events involving youngsters is playing a significant role in the North America youth ATV & UTV market over the forecast timeframe. International associations promoting multiple off-road racing events for amateur and professional drivers will positively influence industry growth. The competition mandates complete manufacturing and racing of UTVs by students without involvement of any professional engineers and designers providing a platform to promote their technical and driving skills.

Rising overall disposable income is expected to drive the North America youth ATV & UTV market. In 2017, trail sports contributed over 13% of outdoor recreational spending. As per the U.S. Commerce Department, in 2018, the gross domestic product rose at over 4% annualized rate. Strong per capita spending across the countries will lead to increased participation in recreational activities, thereby supporting business penetration.
 

Increasing accidents attributed to rash driving by juveniles coupled with ignorance of proper safety gear while driving may hamper the North America youth ATV & UTV market share over the forecast timeframe. However, government agencies across the region are actively promoting the certified training and safety programs and has laid down stringent regulations regarding the age limit and mandatory safety equipment while driving will positively influence the market share.