All-Terrain Vehicle Market Dynamics, SWOT Analysis and Competitive Insights till 2030

Posted on 2023-03-05 by researchinsights in Automotive // 0 Comments

San Francisco, California , USA, Mar 06, 2023 — /EPR Network/ —

All-Terrain Vehicle Industry Overview

The global All-terrain vehicle market size was valued at USD 1.25 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 5.2% from 2022 to 2030. The rising popularity of outdoor sports activities, including off-road events, the increasing number of adventure and trails parks, and the rising demand for ATVs for agricultural and military applications are the major factors propelling the growth of the market. Furthermore, the growing disposable income and purchasing capacity of individuals in developed and developing economies are anticipated to drive the demand for all-terrain vehicles over the forecast period.

The market for all-terrain vehicles witnessed negative growth during the first half of 2020 owing to the spread of the COVID-19 virus. The global lockdown and restrictions led to the temporary closure of various assembly and manufacturing units. Lower automotive sales are expected to further hamper the ATV market in the coming quarters, thereby hampering the market growth. However, the increasing demand for recreational activities across the globe is likely to contribute to market growth.

Gather more insights about the market drivers, restraints and growth of the Global All-Terrain Vehicle Market

An all-terrain vehicle is also known as a light utility vehicle. It is a motorized off-road vehicle designed to travel on four wheels with low-pressure or non-pneumatic tires and a handlebar for steering control. ATVs are divided into two categories: type I and type II. The type I category is intended for use by a single rider with no passengers and the type II category is intended for use by a rider and a passenger. Type II ATVs are equipped with a designated seating position behind the rider.

ATVs are best known for their maneuverability in off-road and rough terrain capabilities. The design of the vehicle ensures better protection from harsh operating environments compared to conventional vehicles. They have wide applications in forestry, sports, military, agriculture, and defense. Over the past few years, ATVs have gained popularity owing to their ease of use in remote areas and ability to offer a convenient way to carry supplies and equipment. These vehicles are often used in off-road surroundings, although in recent years, several regions have allowed them to be driven on public roads as well.

The demand for ATVs has witnessed a rise in the agricultural sector for various farm-related activities, such as weed control, fence mending, field plowing, general transportation, and animal handling. They are also used in applications such as manufacturing, construction, utilities, mining, and search and rescue. Several key companies are organizing adventure sports and off-road racing events and offering sponsorships to acquire new customers and increase product visibility.

The demand for gasoline ATVs has increased significantly owing to their wide uses in sports and military applications. Heavy-duty ATVs are primarily equipped with diesel engines for material handling and powerful towing applications. Electric ATVs are gaining popularity in Europe and North America as an alternative for ATVs operating on diesel and gasoline. Fluctuating prices and environmental concerns of gasoline and diesel are some factors that are projected to drive the demand for electric vehicles across the globe. The introduction of powerful electric motors enables electric all-terrain vehicles to offer a performance advantage over the diesel and gasoline variants.

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All-Terrain Vehicle Market Segmentation

Grand View Research has segmented the global all-terrain vehicle market report based on engine type, application, and region:

All-terrain Vehicle Engine Type Outlook (Volume, Units; Revenue, Million, 2018 – 2030)

Below 400cc
400cc-800cc
Above 800cc

All-terrain Vehicle Application Outlook (Volume, Units; Revenue, Million, 2018 – 2030)

Agriculture
Sports
Recreational
Military and Defense

All-Terrain Vehicle Regional Outlook (Volume, Units; Revenue, Million, 2018 – 2030)

North America
Europe
Asia Pacific
Latin America
MEA

Key Companies profiled:

Some prominent players in the global All-Terrain Vehicle market include

Polaris Inc.
American Honda Motor Co., Inc.
Bombardier Recreational Products (BRP)
Yamaha Motor Corporation
Arctic Cat Inc.

Order a free sample PDF of the All-Terrain Vehicle Market Intelligence Study, published by Grand View Research.

About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

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