PUBLISHER: The Business Research Company | PRODUCT CODE: 1641491
PUBLISHER: The Business Research Company | PRODUCT CODE: 1641491
An All-Terrain Vehicle (ATV) is a motorized vehicle that travels on low-pressure tires, typically featuring a seat straddled by the operator and handlebars for steering control. ATVs are designed to navigate a wide variety of terrains more effectively than other vehicles.
The main types of ATVs include utility ATVs, sports ATVs, recreational ATVs, and others. Utility ATVs are equipped with powerful engines for navigating diverse terrains and are commonly employed for heavy-duty tasks such as hauling cargo, plowing fields, or managing snow. These utility ATVs typically accommodate two passengers comfortably and offer better ground clearance. ATVs come in different displacements-low, mid, and high-and are used for various applications, including sports, entertainment, agriculture, military, and hunting.
The all-terrain vehicle (ATV) market research report is one of a series of new reports from The Business Research Company that provides all-terrain vehicle (ATV) market statistics, including all-terrain vehicle (ATV) industry global market size, regional shares, competitors with a all-terrain vehicle (ATV) market share, detailed all-terrain vehicle (ATV) market segments, market trends and opportunities, and any further data you may need to thrive in the all-terrain vehicle (ATV) industry. This all-terrain vehicle (ATV) market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The all-terrain vehicle (ATV) market size has grown strongly in recent years. It will grow from $3.71 billion in 2024 to $3.9 billion in 2025 at a compound annual growth rate (CAGR) of 5.0%. The growth in the historic period can be attributed to recreational off-roading popularity, agricultural and farming applications, military and defense usage, expansion of outdoor recreation.
The all-terrain vehicle (ATV) market size is expected to see strong growth in the next few years. It will grow to $4.96 billion in 2029 at a compound annual growth rate (CAGR) of 6.2%. The growth in the forecast period can be attributed to increased urban and suburban recreational use, stringent emission standards, advanced safety features, and growing demand in emerging markets. Major trends in the forecast period include electric ATV models, autonomous ATV technologies, lightweight and high-performance materials, connectivity and IoT integration, customization and personalization options.
Government support plays a pivotal role in propelling the growth of the all-terrain vehicle (ATV) market as various governments globally are backing the automotive sector to innovate and provide advanced solutions. This support is anticipated to spur demand within the tourism industry, consequently driving the growth of the ATV market. For instance, in July 2022, the U. S. Department of Energy (DOE) allocated a $96 million funding opportunity aimed at decarbonizing the domestic transportation sector. The focus of this funding is to expand electric vehicle (EV) charging infrastructure, promote cleaner non-road vehicles through electrification and alternative fuels, and develop electric drive components and materials to enhance EV efficiency and affordability. Such governmental initiatives are expected to fuel the growth of the ATV market significantly.
The increasing number of high-net-worth individuals (HNWIs) is anticipated to contribute to the expansion of the ATV market during the forecast period. With HNWIs possessing liquid assets valued at $1 million or more, the automotive industry's market landscape widens, coinciding with the rising wealth levels. The projected surge in UHNWI individuals, particularly in regions like India, where there's an expected 58. 4% increase in individuals with a net worth exceeding $30 million, signifies a potential growth area for the ATV market. Similarly, India's billionaire population is projected to increase, indicating a rise in potential consumers capable of investing in premium products like ATVs. This growth in the HNWI segment is likely to support the ATV market expansion.
New product innovations are emerging as a significant trend in the all-terrain vehicle (ATV) market. Companies are prioritizing product development to satisfy the rapidly growing demand from end customers while expanding their market share and global footprint. For instance, in September 2023, BAE Systems, a UK-based multinational defense, security, and aerospace company, announced a partnership with Larsen & Toubro Limited (L&T), an India-based EPC Projects, Hi-Tech Manufacturing, and Service company, to introduce the BvS10 Articulated All-Terrain Vehicle (AATV) to the Indian defense market. This initiative reflects a broader trend toward regional collaboration. The BvS10 offers exceptional mobility across diverse terrains, including snow, mud, sand, and water, and is designed with modular capabilities that allow for adaptation to various missions, such as personnel transport, command and control, and logistics support. Specifically tailored for the Indian Armed Forces under the "Make in India" program, the BvS10-Sindhu variant is built for extreme conditions, featuring amphibious capabilities and the potential to support mounted lethality systems.
The all-terrain vehicle (ATV) market is witnessing a surge in collaborations and acquisitions among companies aiming to fortify their financial positions, enhance product portfolios, and expand their geographical reach. These strategic moves are geared towards fostering innovation, improving offerings, and catering to evolving consumer needs. For instance, in March 2023, the partnership between L1fe Outdoors, a prominent Canadian ATV dealer, and FINNTRAIL, specializing in manufacturing advanced off-road wading gear, represents a move to introduce cutting-edge ATV/UTV riding gear to Canadian off-road enthusiasts. This partnership emphasizes enhancing the riding experience by prioritizing safety, performance, and comfort for consumers navigating rugged terrains. Similarly, The Toro Company, a reputable US-based enterprise known for manufacturing lawn mowers, snow blowers, and irrigation supplies, acquired Intimidator Group in January 2022. Intimidator Group, a manufacturer of utility vehicles targeting rural markets and large acreage customers, notably includes Spartan Mowers in its portfolio. This acquisition strategically positions The Toro Company to strengthen its presence in the rapidly growing zero-turn mower market, further expanding its offerings to meet diverse consumer demands.
In January 2024, JSW Group, an India-based company active in the steel, energy, infrastructure, and cement sectors, acquired Gecko Motors for an undisclosed amount. This acquisition is aimed at entering the defense and aerospace sector by establishing JSW Defense and Aerospace, capitalizing on Gecko Motors' existing Army contract for the production of Specialist Mobility Vehicles. Gecko Motors specializes in extreme off-road vehicles, including all-terrain vehicles (ATVs).
Major companies operating in the all-terrain vehicle (ATV) market include Bombardier Recreational Products Inc., Suzuki Motors Corporation, Kawasaki Motors Corporation, HiSun Motors Corp., Yamaha Motor Co. Ltd., AISIN SEIKI Co. Ltd., Honda Motor Co. Ltd., Polaris Industries Inc., TEAM Industries Inc., Arctic Cat Inc., Deere & Company, KTM AG, Can-Am Off-Road, Textron Inc., CFMOTO Powersports Inc., Kwang Yang Motor Co. Ltd., Linhai Industrial Share Co. Ltd., TGB Group, Kandi Technologies Group, Kymco USA Inc., Massimo Motor Sports, ODES Industries LLC, Suzuki Motorcycle Corporation, Apollo io, BMS Motorsports, Maxtrade LLC, Hammerhead Off-Road Inc., Chongqing TaoTao Technology Co. Ltd., Trailmaster Inc., DRR USA Inc.
North America was the largest region in the all-terrain vehicle (ATV) market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the all-terrain vehicle (atv) market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
The countries covered in the all-terrain vehicle (atv) market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Canada, Spain.
The all-terrain vehicle (ATV) market consists of sales of sport ATVs, side-by-side ATVs, utility ATVs and youth ATVs. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
All-Terrain Vehicle (ATV) Global Market Report 2025 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on all-terrain vehicle (atv) market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for all-terrain vehicle (atv) ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The all-terrain vehicle (atv) market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The forecasts are made after considering the major factors currently impacting the market. These include the Russia-Ukraine war, rising inflation, higher interest rates, and the legacy of the COVID-19 pandemic.