Market Research Insight 2023
The market for all-terrain vehicles market is anticipated to grow at a 3% CAGR during the projected period. In contrast to other cars, which are often not allowed to be driven on public streets and therefore need specific authorization to do so, this vehicle is built to handle a wide range of terrains. All-terrain vehicles are typically made to be driven by a single operator, however, some manufacturers make them so the driver and a passenger may ride a pillion.
The vehicle is driven somewhat similarly to a motorbike, but the four wheels offer it better stability and control as well as the ability to navigate more readily in challenging and unexpected terrain.
Market Growth Driving Factors
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Regional analysis
The market is divided into four categories based on geography: North America, Asia Pacific, Europe, and the Rest of the World. Sales and manufacture of all sorts of ATVs are dominated by the North American area worldwide. The landscapes of nations like the United States and Canada are large and diverse, with everything from mountain ranges to immense forests. As a result, ATV manufacturers create various vehicles that may be utilized in a variety of settings and environments. The annual ATV motorsport competition including many forms, including snow racing, mountain terrain, rocky terrain, and plain surface terrain, is the main draw for ATVs in the United States. As a result, ATV competition significantly increases tourism, which boosts the economy and eventually fuels the expansion of this business.
Industry Scope:
Segments Covered |
Vehicle Type, Displacement and Application |
Geographies Covered |
North America, Europe, Asia-Pacific, and Rest of the World (RoW) |
Key Vendors |
Honda Motor Company, Ltd. (Japan), Polaris Industries Inc. (U.S.), Yamaha Motor Company Limited (Japan), Bombardier Recreational Products (Canada) and Arctic Cat (U.S.). Kawasaki Heavy Industries Ltd. (Japan), Suzuki Motor Corporation (Japan), CFMOTO Powersports Inc. (U.S.), KTM AG (Austria), BMW (Germany) |
Market Size |
2027: USD 5 Billion Value 2030: Significant value |
CAGR |
3% CAGR (2022 to 2030) |
Base Year |
2021 |
Forecast Period |
2022 to 2030 |
Historical Data |
2019 & 2020 |
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Market segmentation
The sports utility category is the most extensively available and well-liked by consumers among all vehicle types. The sports utility ATVs are often utilized just for competitive racing. Since they are lighter, smaller, and quicker than regular ATVs, these vehicles tend to be. These cars are simple to control, making it simpler to do quick, unexpected movements like accelerating and turning when driving them.
These are mostly rear-wheel-drive cars, yet in a few rare instances, a four-wheel-drive conversion may be produced on demand. They have a powerful and durable suspension system built to lessen the jerks when they accelerate or land on the race circuit. Both two-wheel drive and four-wheel drive are options for utility ATVs.
They are frequently equipped with hooks, fenders, and other equipment to aid in the transportation of freight because they are typically employed for pulling big, heavy cargo. The same uses apply to touring ATVs as they do to cruiser motorcycles. They are mostly employed for long-distance traveling. They can be controlled in a variety of conditions, including flat ground, rocky terrain, uneven and muddy terrain, and woodland paths. As a result, these cars can go farther thanks to their bigger engines and respectable fuel economy.
Sample TOC
4 Market Dynamics
4.1 Introduction
4.2 Market Drivers
4.3 Market Restraints
4.4 Market Opportunities
4.5 Market Trends
5 Global All-Terrain Vehicle Market, By Displacement
5.1 Introduction
5.2 Low CC
5.2.1 Market Estimates & Forecast, 2020-2027
5.2.2 Market Estimates & Forecast By Region, 2020-2027
5.3 Mid CC
5.3.1 Market Estimates & Forecast, 2020-2027
5.3.2 Market Estimates & Forecast By Region, 2020-2027
5.4 High CC
5.4.1 Market Estimates & Forecast, 2020-2027
5.4.2 Market Estimates & Forecast By Region, 2020-2027
6 Global All-Terrain Vehicle Market, By Application
6.1 Introduction
6.2 Sports
6.2.1 Market Estimates & Forecast, 2020-2027
6.2.2 Market Estimates & Forecast By Region, 2020-2027
6.3 Entertainment
6.3.1 Market Estimates & Forecast, 2020-2027
6.3.2 Market Estimates & Forecast By Region, 2020-2027
6.4 Agriculture
6.4.1 Market Estimates & Forecast, 2020-2027
6.4.2 Market Estimates & Forecast By Region, 2020-2027
…Continued.
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