All-Terrain Vehicle (ATV) Market Size - By Product, By Displacement, By Application, By Propulsion, Regional Outlook & Forecast, 2024

Description

All-Terrain Vehicle (ATV) Market size is poised to expand at over 6.5% CAGR between 2024 and 2032 driven by the rising demand for utility vehicles worldwide.

Utility ATVs, equipped with features for hauling, towing, and work applications, are essential in industries, such as agriculture, construction, forestry, and landscaping. With these sectors inclining towards efficient and versatile off-road solutions, the demand for utility ATVs is surging. Additionally, the growing popularity of outdoor recreational activities like off-roading, trail riding, and adventure sports is boosting the need for ATVs among enthusiasts. Several industry players are responding by increasing production capacity, introducing new models with enhanced capabilities, and expanding their distribution networks, further accelerating the industry expansion. For instance, in July 2023, Honda North Carolina Manufacturing invested over $380 million to produce ATVs with increased efficiency and output.

The ATV industry is segmented into product, displacement, application, propulsion, and region.

Based on product, the market size from the youth segment is anticipated to record substantial growth by the end of 2032. Youth ATVs are designed for younger riders and offer a safe and thrilling off-road experience, appealing to families and recreational users. To that end, manufacturers are introducing youth-friendly models with appropriate engine sizes, speed controls, and safety features. These ATVs also provide an entry point for young enthusiasts into outdoor adventures, fostering a love for off-roading from an early age. As parents prioritize outdoor activities and active lifestyles for their children, the demand for youth ATVs is expected to grow.

In terms of application, the all-terrain vehicle market from the utility segment generated considerable revenue in 2023 and is estimated to witness high demand through 2032.ATVs have emerged as an indispensable tool for a wide range of industries and applications, including agriculture, forestry, construction, and landscaping. Their versatility, maneuverability, and rugged designs make them ideal for hauling, towing, and navigating rough terrain in work environments. Several utility ATV models are equipped with features like cargo racks, towing capacities, and enhanced suspension systems to handle demanding tasks. The rising need for efficient and cost-effective solutions for industrial operations will boost the product demand.

Regionally, the Asia Pacific ATV industry is set to exhibit robust growth from 2024-to 2032. The expanding agricultural sector, particularly in China, India, and Indonesia is fueling the demand for utility ATVs for farming and land management tasks.

Additionally, the rising popularity of recreational and adventure sports, especially in Australia and Southeast Asia is boosting the demand for sport and youth ATVs, providing expansion opportunities to major industry participants. For instance, in May 2023, Polaris India launched the 2023 RZR Pro R 4 Ultimate and inaugurated its newest Dealership in Chennai, Tamil Nadu for strengthening its presence in the nation. Moreover, several government initiatives for promoting tourism and outdoor activities will augment the regional industry outlook.

Product Code: 765

Chapter 1 Methodology & Scope

1.1 Market scope & definition
1.2 Base estimates & calculations
1.3 Forecast calculation
1.4 Data sources
- 1.4.1 Primary
- 1.4.2 Secondary
  - 1.4.2.1 Paid sources
  - 1.4.2.2 Public sources

Chapter 2 Executive Summary

2.1 Industry 360 degree synopsis, 2018 - 2032

Chapter 3 Industry Insights

3.1 Industry ecosystem analysis
3.2 Supplier landscape
- 3.2.1 Raw material supplier
- 3.2.2 Component supplier
- 3.2.3 Manufacturers
- 3.2.4 Distributors and dealerships
- 3.2.5 End-user
3.3 Profit margin analysis
3.4 Technology & innovation landscape
3.5 Patent analysis
3.6 Key news & initiatives
3.7 Regulatory landscape
3.8 Impact forces
- 3.8.1 Growth drivers
  - 3.8.1.1 Growing number of ATV sports events and championships
  - 3.8.1.2 Increasing focus on enhancing product functionality in North America
  - 3.8.1.3 Development of electric ATVs in Europe
  - 3.8.1.4 Increasing participation in adventurous activities in Asia Pacific
- 3.8.2 Industry pitfalls & challenges
  - 3.8.2.1 Increasing fatalities and safety concerns related to ATVs
  - 3.8.2.2 Environmental impact of ATV riding
3.9 Growth potential analysis
3.10 Porter's analysis
- 3.10.1 Supplier power
- 3.10.2 Buyer power
- 3.10.3 Threat of new entrants
- 3.10.4 Threat of substitutes
- 3.10.5 Industry rivalry
3.11 PESTEL analysis

Chapter 4 Competitive Landscape, 2023

4.1 Introduction
4.2 Company market share analysis
4.3 Competitive positioning matrix
4.4 Strategic outlook matrix

Chapter 5 Market Estimates & Forecast, By Product, 2018-2032 ($Mn, Units)

5.1 Key trends
5.2 Youth
5.3 Adult

Chapter 6 Market Estimates & Forecast, By Displacement, 2018-2032 ($Mn, Units)

6.1 Key trends
6.2 Below 400cc
6.3 400cc-800cc
6.4 Above 800cc

Chapter 7 Market Estimates & Forecast, By Application, 2018-2032 ($Bn, Units)

7.1 Key trends
7.2 Utility
- 7.2.1 Gasoline
- 7.2.2 Diesel
- 7.2.3 Electric
7.3 Sports
- 7.3.1 Gasoline
- 7.3.2 Diesel
- 7.3.3 Electric
7.4 Recreation
- 7.4.1 Gasoline
- 7.4.2 Diesel
- 7.4.3 Electric
7.5 Military
- 7.5.1 Gasoline
- 7.5.2 Diesel
- 7.5.3 Electric

Chapter 8 Market Estimates & Forecast, By Propulsion, 2018-2032 ($Mn, Units)

8.1 Key trends
8.2 Gasoline
8.3 Diesel
8.4 Electric

Chapter 9 Market Estimates & Forecast, By Region, 2018-2032 ($Mn, Units)

9.1 Key trends
9.2 North America
- 9.2.1 U.S.
- 9.2.2 Canada
9.3 Europe
- 9.3.1 UK
- 9.3.2 Germany
- 9.3.3 France
- 9.3.4 Italy
- 9.3.5 Russia
- 9.3.6 Spain
- 9.3.7 Nordics
- 9.3.8 Rest of Europe
9.4 Asia Pacific
- 9.4.1 China
- 9.4.2 India
- 9.4.3 Japan
- 9.4.4 South Korea
- 9.4.5 Australia
- 9.4.6 Southeast Asia
- 9.4.7 Rest of Asia Pacific
9.5 Latin America
- 9.5.1 Brazil
- 9.5.2 Mexico
- 9.5.3 Argentina
- 9.5.4 Rest of Latin America
9.6 MEA
- 9.6.1 UAE
- 9.6.2 South Africa
- 9.6.3 Saudi Arabia
- 9.6.4 Rest of MEA

Chapter 10 Company Profiles

10.1 Arctic Cat, Inc.
10.2 ARGO
10.3 Bombardier Recreational Products (BRP)
10.4 CF Moto
10.5 Hisun
10.6 Honda Motor Co., Ltd.
10.7 Kawasaki Motors Corporation
10.8 KYMCO
10.9 Linhai
10.10 Polaris Inc.
10.11 Powerland
10.12 Suzuki Motor Corporation
10.13 Taiwan Golden Bee (TGB)
10.14 Tesla
10.15 Theron
10.16 Yamaha Motor Co., Ltd.

All-Terrain Vehicle (ATV) Market Size - By Product, By Displacement, By Application, By Propulsion, Regional Outlook & Forecast, 2024 - 2032