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Global ATV and UTV Market Size, Share, Trends, Forecast: By Type: UTV, ATV; By Displacement: Less than 400 CC, 400-800 CC, More than 800 CC; By Fuel Type: Gasoline Powered, Diesel Powered, Electric Powered, Solar Powered; By End Use: Agriculture, Military, Sports, Others; Regional Analysis; Competitive Landscape; 2024-2032
Global ATV and UTV Market Outlook
The global ATV and UTV market size reached approximately USD 11.79 billion in 2023. The market is assessed to grow at a CAGR of 6.1% between 2024 and 2032 to attain a value of around USD 20.33 billion by 2032.
Key Trends in the Market
An ATV, variously known as an all-terrain vehicle, refers to an off-road vehicle that features handlebar steering and motorcycle-style seating. A UTV, variously known as a utility terrain vehicle, is larger than all-terrain vehicles, and it is typically used to haul heavier loads. UTVs are widely used in commercial uses like landscaping and farming whereas ATVs are utilised in recreation activities.
- The growing demand for environmentally friendly vehicles is one of the major ATV and UTV market trends. This is leading to a shift towards electric UTVs and ATVs that boast zero carbon emissions and are eco-friendly, convenient to charge, easy to maintain and repair, as well as more affordable than conventional off-terrain vehicles. Key players are also capitalising on the increasing trend of sustainability and launching electric ATVs and UTVs with improved battery capacity and increased range.
- Advancements in technologies aimed at improving the safety, navigation capabilities, and comfortability of off-road vehicles are likely to aid the ATV and UTV market growth in the coming years. Moreover, there is a surging preference for UTVs and ATVs equipped with digital displays, rear-view cameras, speakers, Bluetooth connectivity, and GPS systems, among others, that can enhance the comfortability and safety of riders.
- The rising adoption of semi-autonomous and autonomous technologies in the automotive industry is propelling the ATV and UTV market demand. Manufacturers are increasingly attempting to develop autonomous ATVs and UTVs with features like obstacle detection, automatic braking, and adaptive cruise control to improve the safety of riders and support them in autonomously performing tasks.
Market Analysis
Based on type, the market is segmented into UTV and ATV. On the basis of displacement, the ATV and UTV market segmentation includes less than 400 CC, 400-800 CC, and more than 800 CC.
The market, based on fuel type, is classified into gasoline powered, diesel powered, electric powered, and solar powered. By end use, the market is divided into agriculture, military, and sports, among others. The major regional markets for ATV and UTV include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the global ATV and UTV market, covering their competitive landscape and latest developments like mergers, acquisitions, investments and expansion plans.
- Yamaha Motor Co., Ltd.
- Honda Motor Co. Ltd.
- Kawasaki Heavy Industries Ltd.
- Suzuki Motor Corp.
- Arctic Cat Inc.
- Polaris Inc.
- Bombardier Recreational Products Inc.
- Deere & Company
- HISUN Motors Corporation
- Zhejiang Cfmoto Power Co., Ltd.
- Others
Market Share by Type
As per the ATV and UTV market analysis, the demand for UTVs is significantly increasing as they are sturdy and boast a larger capacity than conventional four-wheelers. These vehicles can accommodate up to 6 passengers and can easily tackle challenging terrains like sand, mud, rocks, grovel, and dirt, among others. Due to their wide storage space, UTVs are used for transportation applications in different sectors.
Meanwhile, the increasing launch of ATVs with excellent performance and enhanced safety is also aiding the market.
Market Share by End Use
The agriculture sector represents a significant portion of the ATV and UTV market share. ATVs and UTVs are widely used as an alternative to horses and pick-up trucks in orchards, farms, forests, and ranches. They also find usage in applying chemicals and fertilisers to crops, supervising field crews, inspecting livestock and crops, and transporting different equipment in agricultural settings.
Meanwhile, the military sector uses ATVs and UTVs to carry combat requiring precision, perform search and rescue missions, and perform maintenance duties.
Competitive Landscape
Polaris Inc., established in 1954, is an automobile manufacturer that offers high-quality power sports vehicles. The company is committed to innovation and has played a detrimental role in developing snowmobiles and military vehicles. Headquartered in Minnesota, the United States, it serves customers in nearly 120 countries across the globe.
Deere & Company is a company that provides advanced technologies, services, and products aimed at revolutionising the construction and agricultural industries. Headquartered in Illinois, the United States, the company has established its reputation as a leading manufacturer of construction, agricultural, forestry, marine, and industrial equipment. Since its foundation in 1837, the company has aimed to offer advanced solutions that can support customers to improve their productivity.
HISUN Motors Corporation, headquartered in Texas, the United States, is a prominent manufacturer and provider of all-terrain vehicles. It has emerged as a leader in the powersports sector, offering innovative solutions to customers around the world. Over 300 dealers and numerous retailers in the United States sell the company’s versatile UTVs and ATVs.
Other ATV and UTV market players include Yamaha Motor Co., Ltd., Honda Motor Co. Ltd., Kawasaki Heavy Industries Ltd., Suzuki Motor Corp., Arctic Cat Inc., Bombardier Recreational Products Inc., and Zhejiang Cfmoto Power Co., Ltd., among others.
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Type |
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| Breakup by Displacement |
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| Breakup by Fuel Type |
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| Breakup by End Use |
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| Breakup by Region |
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| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
6.1 Global
6.2 Regional
7 Opportunities and Challenges in the Market
8 Global ATV and UTV Market Analysis
8.1 Key Industry Highlights
8.2 Global ATV and UTV Historical Market (2018-2023)
8.3 Global ATV and UTV Market Forecast (2024-2032)
8.4 Global ATV and UTV Market by Type
8.4.1 UTV
8.4.1.1 Historical Trend (2018-2023)
8.4.1.2 Forecast Trend (2024-2032)
8.4.2 ATV
8.4.2.1 Historical Trend (2018-2023)
8.4.2.2 Forecast Trend (2024-2032)
8.5 Global ATV and UTV Market by Displacement
8.5.1 Less than 400 CC
8.5.1.1 Historical Trend (2018-2023)
8.5.1.2 Forecast Trend (2024-2032)
8.5.2 400-800 CC
8.5.2.1 Historical Trend (2018-2023)
8.5.2.2 Forecast Trend (2024-2032)
8.5.3 More than 800 CC
8.5.3.1 Historical Trend (2018-2023)
8.5.3.2 Forecast Trend (2024-2032)
8.6 Global ATV and UTV Market by Fuel Type
8.6.1 Gasoline Powered
8.6.1.1 Historical Trend (2018-2023)
8.6.1.2 Forecast Trend (2024-2032)
8.6.2 Diesel Powered
8.6.2.1 Historical Trend (2018-2023)
8.6.2.2 Forecast Trend (2024-2032)
8.6.3 Electric Powered
8.6.3.1 Historical Trend (2018-2023)
8.6.3.2 Forecast Trend (2024-2032)
8.6.4 Solar Powered
8.6.4.1 Historical Trend (2018-2023)
8.6.4.2 Forecast Trend (2024-2032)
8.7 Global ATV and UTV Market by End Use
8.7.1 Agriculture
8.7.1.1 Historical Trend (2018-2023)
8.7.1.2 Forecast Trend (2024-2032)
8.7.2 Military
8.7.2.1 Historical Trend (2018-2023)
8.7.2.2 Forecast Trend (2024-2032)
8.7.3 Sports
8.7.3.1 Historical Trend (2018-2023)
8.7.3.2 Forecast Trend (2024-2032)
8.7.4 Others
8.8 Global ATV and UTV Market by Region
8.8.1 North America
8.8.1.1 Historical Trend (2018-2023)
8.8.1.2 Forecast Trend (2024-2032)
8.8.2 Europe
8.8.2.1 Historical Trend (2018-2023)
8.8.2.2 Forecast Trend (2024-2032)
8.8.3 Asia Pacific
8.8.3.1 Historical Trend (2018-2023)
8.8.3.2 Forecast Trend (2024-2032)
8.8.4 Latin America
8.8.4.1 Historical Trend (2018-2023)
8.8.4.2 Forecast Trend (2024-2032)
8.8.5 Middle East and Africa
8.8.5.1 Historical Trend (2018-2023)
8.8.5.2 Forecast Trend (2024-2032)
9 North America ATV and UTV Market Analysis
9.1 United States of America
9.1.1 Historical Trend (2018-2023)
9.1.2 Forecast Trend (2024-2032)
9.2 Canada
9.2.1 Historical Trend (2018-2023)
9.2.2 Forecast Trend (2024-2032)
10 Europe ATV and UTV Market Analysis
10.1 United Kingdom
10.1.1 Historical Trend (2018-2023)
10.1.2 Forecast Trend (2024-2032)
10.2 Germany
10.2.1 Historical Trend (2018-2023)
10.2.2 Forecast Trend (2024-2032)
10.3 France
10.3.1 Historical Trend (2018-2023)
10.3.2 Forecast Trend (2024-2032)
10.4 Italy
10.4.1 Historical Trend (2018-2023)
10.4.2 Forecast Trend (2024-2032)
10.5 Others
11 Asia Pacific ATV and UTV Market Analysis
11.1 China
11.1.1 Historical Trend (2018-2023)
11.1.2 Forecast Trend (2024-2032)
11.2 Japan
11.2.1 Historical Trend (2018-2023)
11.2.2 Forecast Trend (2024-2032)
11.3 India
11.3.1 Historical Trend (2018-2023)
11.3.2 Forecast Trend (2024-2032)
11.4 ASEAN
11.4.1 Historical Trend (2018-2023)
11.4.2 Forecast Trend (2024-2032)
11.5 Australia
11.5.1 Historical Trend (2018-2023)
11.5.2 Forecast Trend (2024-2032)
11.6 Others
12 Latin America ATV and UTV Market Analysis
12.1 Brazil
12.1.1 Historical Trend (2018-2023)
12.1.2 Forecast Trend (2024-2032)
12.2 Argentina
12.2.1 Historical Trend (2018-2023)
12.2.2 Forecast Trend (2024-2032)
12.3 Mexico
12.3.1 Historical Trend (2018-2023)
12.3.2 Forecast Trend (2024-2032)
12.4 Others
13 Middle East and Africa ATV and UTV Market Analysis
13.1 Saudi Arabia
13.1.1 Historical Trend (2018-2023)
13.1.2 Forecast Trend (2024-2032)
13.2 United Arab Emirates
13.2.1 Historical Trend (2018-2023)
13.2.2 Forecast Trend (2024-2032)
13.3 Nigeria
13.3.1 Historical Trend (2018-2023)
13.3.2 Forecast Trend (2024-2032)
13.4 South Africa
13.4.1 Historical Trend (2018-2023)
13.4.2 Forecast Trend (2024-2032)
13.5 Others
14 Market Dynamics
14.1 SWOT Analysis
14.1.1 Strengths
14.1.2 Weaknesses
14.1.3 Opportunities
14.1.4 Threats
14.2 Porter’s Five Forces Analysis
14.2.1 Supplier’s Power
14.2.2 Buyer’s Power
14.2.3 Threat of New Entrants
14.2.4 Degree of Rivalry
14.2.5 Threat of Substitutes
14.3 Key Indicators for Demand
14.4 Key Indicators for Price
15 Competitive Landscape
15.1 Market Structure
15.2 Company Profiles
15.2.1 Yamaha Motor Co., Ltd.
15.2.1.1 Company Overview
15.2.1.2 Product Portfolio
15.2.1.3 Demographic Reach and Achievements
15.2.1.4 Certifications
15.2.2 Honda Motor Co. Ltd.
15.2.2.1 Company Overview
15.2.2.2 Product Portfolio
15.2.2.3 Demographic Reach and Achievements
15.2.2.4 Certifications
15.2.3 Kawasaki Heavy Industries Ltd.
15.2.3.1 Company Overview
15.2.3.2 Product Portfolio
15.2.3.3 Demographic Reach and Achievements
15.2.3.4 Certifications
15.2.4 Suzuki Motor Corp.
15.2.4.1 Company Overview
15.2.4.2 Product Portfolio
15.2.4.3 Demographic Reach and Achievements
15.2.4.4 Certifications
15.2.5 Arctic Cat Inc.
15.2.5.1 Company Overview
15.2.5.2 Product Portfolio
15.2.5.3 Demographic Reach and Achievements
15.2.5.4 Certifications
15.2.6 Polaris Inc.
15.2.6.1 Company Overview
15.2.6.2 Product Portfolio
15.2.6.3 Demographic Reach and Achievements
15.2.6.4 Certifications
15.2.7 Bombardier Recreational Products Inc.
15.2.7.1 Company Overview
15.2.7.2 Product Portfolio
15.2.7.3 Demographic Reach and Achievements
15.2.7.4 Certifications
15.2.8 Deere & Company
15.2.8.1 Company Overview
15.2.8.2 Product Portfolio
15.2.8.3 Demographic Reach and Achievements
15.2.8.4 Certifications
15.2.9 HISUN Motors Corporation
15.2.9.1 Company Overview
15.2.9.2 Product Portfolio
15.2.9.3 Demographic Reach and Achievements
15.2.9.4 Certifications
15.2.10 Zhejiang Cfmoto Power Co., Ltd.
15.2.10.1 Company Overview
15.2.10.2 Product Portfolio
15.2.10.3 Demographic Reach and Achievements
15.2.10.4 Certifications
15.2.11 Others
16 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Global ATV and UTV Market: Key Industry Highlights, 2018 and 2032
2. Global ATV and UTV Historical Market: Breakup by Type (USD Billion), 2018-2023
3. Global ATV and UTV Market Forecast: Breakup by Type (USD Billion), 2024-2032
4. Global ATV and UTV Historical Market: Breakup by Displacement (USD Billion), 2018-2023
5. Global ATV and UTV Market Forecast: Breakup by Displacement (USD Billion), 2024-2032
6. Global ATV and UTV Historical Market: Breakup by Fuel Type (USD Billion), 2018-2023
7. Global ATV and UTV Market Forecast: Breakup by Fuel Type (USD Billion), 2024-2032
8. Global ATV and UTV Historical Market: Breakup by End Use (USD Billion), 2018-2023
9. Global ATV and UTV Market Forecast: Breakup by End Use (USD Billion), 2024-2032
10. Global ATV and UTV Historical Market: Breakup by Region (USD Billion), 2018-2023
11. Global ATV and UTV Market Forecast: Breakup by Region (USD Billion), 2024-2032
12. North America ATV and UTV Historical Market: Breakup by Country (USD Billion), 2018-2023
13. North America ATV and UTV Market Forecast: Breakup by Country (USD Billion), 2024-2032
14. Europe ATV and UTV Historical Market: Breakup by Country (USD Billion), 2018-2023
15. Europe ATV and UTV Market Forecast: Breakup by Country (USD Billion), 2024-2032
16. Asia Pacific ATV and UTV Historical Market: Breakup by Country (USD Billion), 2018-2023
17. Asia Pacific ATV and UTV Market Forecast: Breakup by Country (USD Billion), 2024-2032
18. Latin America ATV and UTV Historical Market: Breakup by Country (USD Billion), 2018-2023
19. Latin America ATV and UTV Market Forecast: Breakup by Country (USD Billion), 2024-2032
20. Middle East and Africa ATV and UTV Historical Market: Breakup by Country (USD Billion), 2018-2023
21. Middle East and Africa ATV and UTV Market Forecast: Breakup by Country (USD Billion), 2024-2032
22. Global ATV and UTV Market Structure
Key Questions Answered in the Report
In 2023, the market attained a value of nearly USD 11.79 billion.
The market is assessed to grow at a CAGR of 6.1% between 2024 and 2032.
The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach about USD 20.33 billion by 2032.
The major market drivers are the growing demand for environmentally friendly vehicles, the surging launches of electric ATVs and UTVs, and technological advancements.
The increasing attempts by key players to develop autonomous ATVs and UTVs and the rising usage of off-road vehicles in agricultural activities are the key trends aiding the market.
The major regions in the market are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.
The significant end uses of the vehicles are agriculture, military, and sports, among others.
The major players in the market are Yamaha Motor Co., Ltd., Honda Motor Co. Ltd., Kawasaki Heavy Industries Ltd., Suzuki Motor Corp., Arctic Cat Inc., Polaris Inc., Bombardier Recreational Products Inc., Deere & Company, HISUN Motors Corporation, and Zhejiang Cfmoto Power Co., Ltd., among others.
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