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All-terrain Vehicle Market Share, Size, Growth and Forecast 2022-2027

According to the latest report by IMARC Group, titled “All-terrain Vehicle Market Share: Global Industry Trends, Size, Growth, Opportunity and Forecast 2022-2027,” the global all-terrain vehicle market size reached US$ 4.1 Billion in 2021 and it is to reach US$ 5.0 Billion by 2027, exhibiting a CAGR of 3.47% during 2022-2027.

An all-terrain vehicle (ATV) is a motorized vehicle that is intended to be used for off-road or on dirt road travels and activities over muddy, rocky and dune topologies. It comprises a large and powerful engine with three or four non-pneumatic tires. Apart from this, it also consists of a sturdy seat to be used by a single operator and handlebars that are essential for steering control. It is an extremely heavy vehicle with a relatively high center of gravity, short wheelbase and short turning radius. These vehicles are widely used for carrying heavy equipment over long distances and narrow access points across numerous industries, including agriculture, and military and defense.

We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.

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Global All-terrain Vehicle Industry Trends and Drivers: 

The global market is primarily driven by the shifting preference of the masses toward off-roading activities. These vehicles are widely used as a substitute for conventional vehicles as they offer enhanced protection against harsh operating environments and easy maneuverability in difficult and unpredictable terrains. The market is further driven by the growing utilization of these vehicles in the agricultural sector. They are widely used for field plowing, fence mending, weed controlling, animal handling and general transportation purposes. They are also used to minimize the manual labor required in the sector to significantly reduce the operational costs, which is expected to provide a thrust to the market growth.

Technological advancements in the automotive infotainment systems have led to the integration of these vehicles with GPS tracking, Bluetooth connectivity and mobile tracking systems, which, in turn, is acting as a growth-inducing factor. This, along with the rising expenditure capacities of consumers and the development of electric quad bikes with improved steering systems, is providing a thrust to the market growth further. The advent of ATVs with rollover protective structures (ROPS) is expected to create a positive outlook for the market.

Competitive Landscape:

The competitive landscape of the industry has also been examined with some of the key players being Arctic Cat Inc., Bombardier Recreational Products (BRP), CECTEK, CFMOTO US, Deere & Company (John Deere), HiSun Motors, Honda Motor Co. Ltd., Kawasaki Heavy Industries, KYMCO, Linhai, Polaris Industries Inc., Suzuki Motor Corporation, Taiwan Golden Bee, Yamaha Motor Corporation, etc.

Explore full report with table of contents: https://www.imarcgroup.com/all-terrain-vehicle-market

Report Segmentation:

The report has been segmented the market into following categories:

Market Breakup by Type:

Utility ATV
Sport ATV
Recreational ATV
Others

Market Breakup by Application:

Sports
Entertainment
Agriculture
Military & Defence
Others

Market Breakup by Engine Type:

Below 400 cc
400 – 800 cc
Above 800 cc

Market Breakup by No. of Wheels:

Three Wheels
Four Wheels
>Four Wheels

Market Breakup by Drive Type:

2WD
4WD
AWD

Market Breakup by Fuel Type:

Electric ATV
Gasoline ATV

Market Breakup by Seating Capacity:

One Seat
Two or More Seats

Market Breakup by Region:

North America
Asia Pacific
Europe
Latin America
Middle East and Africa

About Us

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

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