GLOBAL ATV AND UTV MARKET FORECAST 2019-2027

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GLOBAL ATV AND UTV MARKET FORECAST 2019-2027

Global ATV and UTV market deals with off-road vehicles fitted with four low-pressure tires, handlebars, which are also known as Quad Bikes. The ATVs and UTVs are used for many applications and by many end-users for different purposes. These vehicles are mostly used for farming, material handling, hunting, mountaineering, and others. Inkwood Research estimates that the global ATV and UTV market amounted at $7679 million in 2018, and is predicted to reach $14560 million in revenue terms by 2027, recording a CAGR of 7.15% between 2019 and 2027. The base year that was taken into account for the purpose of the market study is 2018, and the forecasted period is from 2019 to 2027.

GLOBAL ATV AND UTV MARKET FORECAST 2019-2027

Global Atv and Utv Market by Vehicle Type (Atv, Utv) by Displacement (≤ 400 (Cc), 400-800 (Cc), ≥ 800 (Cc)) by Fuel Type (Gasoline-powered, Diesel Powered, Electric Powered, Solar Powered) by Application (by Utility, by Sports, by Others) by End-user (Agriculture, Military, Mountaineering, Others) by Geography.

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Global ATV and UTV market deals with off-road vehicles fitted with four low-pressure tires, handlebars, which are also known as Quad Bikes. The ATVs and UTVs are used for many applications and by many end-users for different purposes. These vehicles are mostly used for farming, material handling, hunting, mountaineering, and others. Inkwood Research estimates that the global ATV and UTV market amounted at $7679 million in 2018, and is predicted to reach $14560 million in revenue terms by 2027, recording a CAGR of 7.15% between 2019 and 2027. The base year that was taken into account for the purpose of the market study is 2018, and the forecasted period is from 2019 to 2027.

The global ATV and UTV market is driven by factors as follows:

  • The increasing trend of adventure sports and other activities
  • The high demand for ATV and UTV in military
  • Government rules for riding ATV and UTV on roads

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Nowadays, tourists are highly attracted to the trails of ATV and UTV along with the related activities for recreational purposes in countries they visit. Tourism councils have started introducing activities related to ATV and UTV by building tracks in order to draw and retain tourists for a longer time in their country. Several countries are organizing yearly championships, and this is gaining popularity remarkably, as anyone capable of driving UTV can participate in the race. Therefore, an increase in adventure sports trends entices tourists and aids in the expansion of the ATV and UTV market. The other growth factor of the ATV and UTV market is the use of these vehicles in the military. For instance, the United States Army has demanded ATVs with features such as fast troop transportation ability, the capability of carrying nine soldiers who are fully armed, agility, and a minimum of 55 mph of speed, which in turn drives the ATV and UTV market growth on a global scale. Additionally, two ATVs and UTVs- Sportsman Big Boss along with MRZR- were provided from the company called Polaris Government & Defence to Latvia. It is envisaged that these additional Polaris vehicles will be supplied in 2020 for the purpose of defense, which forms the part of the U.S. government program.

Mountaineering has the largest market share in the end-user segment, and it had a market share of 58.24% in terms of revenue in 2018. The segment is expected to maintain its lead throughout the forecast period. The manufacturers are producing the ATV and UTV vehicles for mountaineering as it is considered as recreational activities. Several countries are allowing riding of ATV and UTV vehicles in the rocky regions and have considered it as a part of growing tourism in the country. ATVs and UTVs are mainly used for mountaineering, as there are rocky and muddy paths, and these vehicles move easily along the way.

On the other hand, the military segment is expected to witness growth in the market as for tactical missions superior mobility is provided. The high movability and moldability with high-end navigations provide instant directions to the vehicle operators. Military organizations are getting involved in strategic contracts with OEMs for advancing their military fleet. ATV and UTV manufacturers are manufacturing giants that are building these vehicles ideal for military use with added features to destroy the enemy’s surveillance tools.

The global ATV and UTV market growth is restricted as driving ATVs and UTVs in wildlife areas are banned as the terrains get damaged, and to protect wildlife habitat. The shutdown aims to support the wildfire management strategies and to decrease the damage caused by off-road vehicles as the camping pressures are sensitive to the ecosystem. Driving ATV and UTV in these areas have negatively affected the terrain such as erosion, soil compaction, and pollution. The sound of the ATV may drive away from the animals, and thus, ATVs and UTVs are banned in the wildlife area.
The biggest challenge for ATV and UTV manufacturers is to provide safety for riders. There has been an increase in the number of deaths and injury cases which is restricting the market. Less expertise or no experience in ATV riding and difficult terrain conditions are the main reasons for such accident cases. Death is mainly caused due to head injuries as they were not wearing helmets. The younger generation is mostly the ones registering themselves in one or the other terrain vehicle associations. Older generation people don’t have much inclination toward sports vehicles, but they are active in off-road recreational activities. They have more interest in new sports adventures.

Report scope of the global ATV and UTV market covers segmentation analysis of vehicle type, fuel type, displacement, application, end user, and region.

Market by Vehicle:

  • ATV
  • UTV

Market by Displacement:

  • 400-800 (CC)
  • ≤ 400 (CC)
  • ≥ 800 (CC)

Market by Fuel Type:

  • Solar-powered
  • Gasoline-powered
  • Electric powered
  • Diesel-powered

Market by Application:

  • Sports
  • Utility
  • Others

Market by End User:

  • Agriculture
  • Mountaineering
  • Military
  • Others

On the basis of geography, the global ATV and UTV market has been segmented into four major regions, which includes:

  • North America: the United States and Canada
  • Europe: Germany, UK, France, Italy, Spain, Russia, and Rest of Europe
  • Asia Pacific: India, China, Japan, South Korea, Australia, and Rest of Asia Pacific
  • Rest of the World: Middle East & Africa, Latin America

Geographically, North America is the largest market with a market share of 50.25% in terms of revenue in 2018. The dominance of North America is attributed to the government encouraging off-road recreational activities by allowing lands for sports events such as dirt racing, desert racing, and mountain racing, etc. ATVs and UTVs vehicles fall under the miscellaneous category vehicles in the US recreational transportation sector and are driven by exports. Overseas export is one of the drivers for the ATV and UTV market in the US as different countries too are encouraging ATVs and UTVs. On the other hand, the Asia Pacific is anticipated to be the fastest-growing region with a CAGR of 8.35% during the forecast period. The growth is attributed to increasing off-road racing events.

Globally, the ATV and UTV market includes segments based on displacement, vehicle type, end-user, application, fuel type, and region. On the basis of vehicle type, the global market is segregated into ATV and UTV. The market on the basis of the fuel type is further sub-classified into electric powered, gasoline-powered, solar-powered, and diesel-powered. Displacement of the vehicle is classified into 400-800 (CC), ≤ 400 (CC), and ≥ 800 (CC). The applications segment of the market is classified into sports, utility, and others. Based on geography, the market is analyzed across Europe, North America, Asia Pacific, and the Rest of the World. The end-user vertical includes agriculture, mountaineering, military, and others.

The market has a number of players, and some of the major players involved in the global ATV and UTV market are:

  • BRP Inc.
  • Kawasaki Heavy Industries Ltd.
  • Honda Motor Company Ltd.
  • Yamaha Motor Co. Ltd.
  • Polaris Industries Inc.
  • Others

Company Profiles covers the analysis of important players. These companies are using different strategies for growth. For instance, BRP has produced the world’s first Rotax MAX Dome; the concept behind it is innovative and exciting as the arena is for indoor e-kart racing. It is combined with augmented reality technology, virtual entertainment, and gamification. Honda secured 15% shares of Ubitricity, a start-up company based in Berlin, in its recent round of funding. The purchase of a significant amount of shares in the start-up signals that Honda may incorporate the start-up’s technology into its vehicles in the near future.

Key findings of the global ATV and UTV market are:

  • Rise in adventure sports in different countries drives ATV and UTV market growth
  • Gasoline-powered engine segment to be dominant among the fuel type segment
  • In the end-user segment, mountaineering will lead in terms of revenue as many countries are supporting mountaineering
  1. RESEARCH SCOPE
    • STUDY GOALS
    • SCOPE OF THE MARKET STUDY
    • WHO WILL FIND THIS REPORT USEFUL?
    • STUDY AND FORECASTING YEARS
  2. RESEARCH METHODOLOGY
    • SOURCES OF DATA
      • SECONDARY DATA
      • PRIMARY DATA
    • TOP-DOWN APPROACH
    • BOTTOM-UP APPROACH
    • DATA TRIANGULATION
  3. EXECUTIVE SUMMARY
    • MARKET SUMMARY
    • KEY FINDINGS
      • RISE IN ADVENTURE SPORTS DRIVES ATV AND UTV MARKET
      • GASOLINE-POWERED ENGINE SEGMENT TO BE DOMINANT
      • IN THE END-USER SEGMENT MOUNTAINEERING WILL LEAD IN TERMS OF REVENUE
  1. MARKET DYNAMICS
    • MARKET SCOPE & DEFINITION
    • MARKET DRIVERS
      • INCREASING TREND OF ADVENTURE SPORTS AND OTHER ACTIVITIES
      • HIGH DEMAND OF ATV AND UTV IN MILITARY
      • GOVERNMENT RULES FOR RIDING ATV AND UTV ON ROADS
    • MARKET RESTRAINTS
      • BAN OF ATV AND UTV RIDING IN WILDLIFE
      • HIGH MAINTENANCE COST OF UTV AND ATV
    • MARKET OPPORTUNITIES
      • MANUFACTURING SAFER ATV AND UTV
    • MARKET CHALLENGES
      • SAFETY RULES RELATED TO ATV RIDING
      • LACK OF GLOBAL ACCEPTANCE AS LEGAL VEHICLE
      • ENVIRONMENTAL REGULATION ON ATV EMISSION
  1. MARKET BY VEHICLE TYPE
    • ATV
    • UTV
  2. MARKET BY DISPLACEMENT
    • ≤ 400 (CC)
    • 400-800 (CC)
    • ≥ 800 (CC)
  3. MARKET BY FUEL TYPE
    • GASOLINE POWERED
    • DIESEL POWERED
    • ELECTRIC POWERED
    • SOLAR POWERED
  4. MARKET BY APPLICATION
    • BY UTILITY
    • BY SPORTS
    • BY OTHERS
  5. MARKET BY END-USER
    • AGRICULTURE
    • MILITARY
    • MOUNTAINEERING
    • OTHERS
  6. KEY ANALYTICS
    • PORTER’S FIVE FORCE MODEL
      • THREAT OF NEW ENTRANTS
      • THREAT OF SUBSTITUTE
      • BARGAINING POWER OF SUPPLIERS
      • BARGAINING POWER OF BUYERS
      • THREAT OF COMPETITIVE RIVALRY
    • KEY BUYING CRITERIA
      • GOVERNMENT REGULATIONS
      • PRICE
      • APPLICATION
    • OPPORTUNITY MATRIX
    • VENDOR LANDSCAPE
  7. GEOGRAPHICAL ANALYSIS
    • NORTH AMERICA
      • UNITED STATES
      • CANADA
    • EUROPE
      • GERMANY
      • UNITED KINGDOM
      • FRANCE
      • ITALY
      • SPAIN
      • RUSSIA
      • REST OF EUROPE
    • ASIA PACIFIC
      • CHINA
      • JAPAN
      • INDIA
      • AUSTRALIA
      • SOUTH KOREA
      • REST OF ASIA PACIFIC
    • REST OF WORLD
      • LATIN AMERICA
      • MIDDLE EAST & AFRICA
  1. COMPANY PROFILES
    • BRP INC.
    • DEERE & COMPANY
    • HISUN MOTORS CORPORATION
    • HONDA MOTOR COMPANY LTD.
    • KAWASAKI HEAVY INDUSTRIES LTD.
    • KWANG YANG MOTOR CO. LTD.
    • POLARIS INDUSTRIES INC.
    • SUZUKI MOTORS CORPORATION
    • TEXTRON INC. (ARCTIC CAT)
    • YAMAHA MOTOR CO. LTD.

LIST OF TABLES

TABLE 1: GLOBAL ATV AND UTV MARKET, BY GEOGRAPHY, 2019-2027 (IN $ MILLION)

TABLE 2: GLOBAL ATV AND UTV MARKET, BY VEHICLE TYPE, 2019-2027, (IN $ MILLION)

TABLE 3: GLOBAL ATV MARKET, BY REGION, 2019-2027 (IN $ MILLION)

TABLE 4: GLOBAL UTV MARKET, BY REGION, 2019-2027 (IN $ MILLION)

TABLE 5: GLOBAL ATV AND UTV MARKET, BY DISPLACEMENT, 2019-2027, (IN $ MILLION)

TABLE 6: GLOBAL ≤ 400 (CC) MARKET, BY REGION, 2019-2027 (IN $ MILLION)

TABLE 7: GLOBAL 400-800(CC) MARKET, BY REGION, 2019-2027 (IN $ MILLION)

TABLE 8: GLOBAL ≤ 800 (CC) MARKET, BY REGION, 2019-2027 (IN $ MILLION)

TABLE 9: GLOBAL ATV AND UTV MARKET, BY FUEL TYPE, 2019-2027, (IN $ MILLION)

TABLE 10: GLOBAL GASOLINE POWERED MARKET, BY REGION, 2019-2027 (IN $ MILLION)

TABLE 11: GLOBAL DIESEL POWERED MARKET, BY REGION, 2019-2027 (IN $ MILLION)

TABLE 12: GLOBAL ELECTRIC POWERED MARKET, BY REGION, 2019-2027 (IN $ MILLION)

TABLE 13: GLOBAL SOLAR POWERED MARKET, BY REGION, 2019-2027 (IN $ MILLION)

TABLE 14: GLOBAL ATV AND UTV MARKET, BY APPLICATION, 2019-2027, (IN $ MILLION)

TABLE 15: GLOBAL UTILITY MARKET, BY REGION, 2019-2027 (IN $ MILLION)

TABLE 16: GLOBAL SPORTS MARKET, BY REGION, 2019-2027 (IN $ MILLION)

TABLE 17: GLOBAL OTHER MARKET, BY REGION, 2019-2027 (IN $ MILLION)

TABLE 18: GLOBAL ATV AND UTV MARKET, BY END-USER 2019-2027, (IN $ MILLION)

TABLE 19: GLOBAL AGRICULTURE MARKET, BY REGION, 2019-2027 (IN $ MILLION)

TABLE 20: GLOBAL MILITARY MARKET, BY REGION, 2019-2027 (IN $ MILLION)

TABLE 21: GLOBAL MOUNTAINEERING MARKET, BY REGION, 2019-2027 (IN $ MILLION)

TABLE 22: GLOBAL OTHER MARKET, BY REGION, 2019-2027 (IN $ MILLION)

TABLE 23: OPPORTUNITY MATRIX

TABLE 24: VENDOR LANDSCAPE

TABLE 25: GLOBAL ATV AND UTV, BY GEOGRAPHY, 2019-2027, (IN $ MILLION)

TABLE 26: NORTH AMERICA ATV AND UTV MARKET, BY COUNTRY, 2019-2027 (IN $ MILLION)

TABLE 27: EUROPE ATV AND UTV MARKET, BY COUNTRY, 2019-2027 (IN $ MILLION)

TABLE 28: ASIA PACIFIC ATV AND UTV MARKET, BY COUNTRY, 2019-2027 (IN $ MILLION)

TABLE 29: REST OF WORLD ATV AND UTV MARKET, BY REGION, 2019-2027 (IN $ MILLION)

LIST OF FIGURES

FIGURE 1: GLOBAL ATV AND UTV MARKET, BY END-USER, 2018 & 2027 (IN %)

FIGURE 2: GLOBAL ATV AND UTV MARKET, BY SPORTS, 2019 & 2027 (IN $ MILLION)

FIGURE 3: GLOBAL ATV AND UTV MARKET, GASOLINE POWERED, 2019 & 2027 (IN $ MILLION)

FIGURE 4: GLOBAL ATV AND UTV MARKET, BY MOUNTAINEERING, 2019 & 2027 (IN $ MILLION)

FIGURE 5: GLOBAL ATV AND UTV MARKET, BY ATV, 2019-2027 (IN $ MILLION)

FIGURE 6: GLOBAL ATV AND UTV MARKET, BY UTV, 2019-2027 (IN $ MILLION)

FIGURE 7: GLOBAL ATV AND UTV MARKET, BY ≤ 400 (CC), 2019-2027 (IN $ MILLION)

FIGURE 8: GLOBAL ATV AND UTV MARKET, BY 400-800(CC) , 2019-2027 (IN $ MILLION)

FIGURE 9: GLOBAL ATV AND UTV MARKET, BY ≥ 800 (CC), 2019-2027 (IN $ MILLION)

FIGURE 10: GLOBAL ATV AND UTV, BY GASOLINE POWERED, 2019-2027 (IN $ MILLION)

FIGURE 11: GLOBAL ATV AND UTV MARKET, BY DIESEL POWERED, 2019-2027 (IN $ MILLION)

FIGURE 12: GLOBAL ATV AND UTV MARKET, BY ELECTRIC PWERED, 2019-2027 (IN $ MILLION)

FIGURE 13: GLOBAL ATV AND UTV MARKET, BY SOLAR POWERED, 2019-2027 (IN $ MILLION)

FIGURE 14: GLOBAL ATV AND UTV MARKET, BY UTILITY, 2019-2027 (IN $ MILLION)

FIGURE 15: GLOBAL ATV AND UTV MARKET, BY SPORTS, 2019-2027 (IN $ MILLION)

FIGURE 16: GLOBAL ATV AND UTV MARKET, BY OTHERS, 2019-2027 (IN $ MILLION)

FIGURE 17: GLOBAL ATV AND UTV MARKET, BY AGRICULTURE, 2019-2027 (IN $ MILLION)

FIGURE 18: GLOBAL ATV AND UTV MARKET, BY MILITARY, 2019-2027 (IN $ MILLION)

FIGURE 19: GLOBAL ATV AND UTV MARKET, BY MOUNTAINEERING, 2019-2027 (IN $ MILLION)

FIGURE 20: GLOBAL ATV AND UTV MARKET, BY OTHERS, 2019-2027 (IN $ MILLION)

FIGURE 21: PORTER’S FIVE FORCE ANALYSIS

FIGURE 22: KEY BUYING IMPACT ANALYSIS

FIGURE 23: GLOBAL ATV AND UTV MARKET, REGIONAL OUTLOOK, 2018 & 2027 (IN %)

FIGURE 24: UNITED STATES ATV AND UTV MARKET, 2019-2027 (IN $ MILLION)

FIGURE 25: CANADA ATV AND UTV MARKET, 2019-2027 (IN $ MILLION)

FIGURE 26: GERMANY ATV AND UTV MARKET, 2019-2027 (IN $ MILLION)

FIGURE 27: UNITED KINGDOM ATV AND UTV MARKET, 2019-2027 (IN $ MILLION)

FIGURE 28: FRANCE ATV AND UTV MARKET, 2019-2027 (IN $ MILLION)

FIGURE 29: ITALY ATV AND UTV MARKET, 2019-2027 (IN $ MILLION)

FIGURE 30: SPAIN ATV AND UTV MARKET, 2019-2027 (IN $ MILLION)

FIGURE 31: SPAIN ATV AND UTV MARKET, 2019-2027 (IN $ MILLION)

FIGURE 32: REST OF EUROPE ATV AND UTV MARKET, 2019-2027 (IN $ MILLION)

FIGURE 33: CHINA ATV AND UTV MARKET, 2019-2027 (IN $ MILLION)

FIGURE 34: JAPAN ATV AND UTV MARKET, 2019-2027 (IN $ MILLION)

FIGURE 35: INDIA ATV AND UTV MARKET, 2019-2027 (IN $ MILLION)

FIGURE 36: AUSTRALIA ATV AND UTV MARKET, 2019-2027 (IN $ MILLION)

FIGURE 37: SOUTH KOREA ATV AND UTV MARKET, 2019-2027 (IN $ MILLION)

FIGURE 38: REST OF ASIA PACIFIC ATV AND UTV MARKET, 2019-2027 (IN $ MILLION)

FIGURE 39: LATIN AMERICA ATV AND UTV MARKET, 2019-2027 (IN $ MILLION)

FIGURE 40: MIDDLE EAST & AFRICA ATV AND UTV MARKET, 2019-2027 (IN $ MILLION)

  1. MARKET BY VEHICLE TYPE
    • ATV
    • UTV
  2. MARKET BY DISPLACEMENT
    • ≤ 400 (CC)
    • 400-800 (CC)
    • ≥ 800 (CC)
  3. MARKET BY FUEL TYPE
    • GASOLINE POWERED
    • DIESEL POWERED
    • ELECTRIC POWERED
    • SOLAR POWERED
  4. MARKET BY APPLICATION
    • BY UTILITY
    • BY SPORTS
    • BY OTHERS
  5. MARKET BY END-USER
    • AGRICULTURE
    • MILITARY
    • MOUNTAINEERING
    • OTHERS
  6. GEOGRAPHICAL ANALYSIS
    • NORTH AMERICA
      • UNITED STATES
      • CANADA
    • EUROPE
      • GERMANY
      • UNITED KINGDOM
      • FRANCE
      • ITALY
      • SPAIN
      • RUSSIA
      • REST OF EUROPE
    • ASIA PACIFIC
      • CHINA
      • JAPAN
      • INDIA
      • AUSTRALIA
      • SOUTH KOREA
      • REST OF ASIA PACIFIC
    • REST OF WORLD
      • LATIN AMERICA
      • MIDDLE EAST & AFRICA

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