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All-Terrain Vehicle (ATV) Market, (By Engine Type -Below 400cc, 400-800cc, Above 800cc. By Application Type - Agriculture, Entertainment, Military, Sports and Others, By Vehicle Type - Sports ATV, Utility ATV, Military or Defense Purpose, Recreational and others. By Product - Three-Wheeler, Four-Wheeler, Six-Wheeler, Eight-Wheeler. By Region - North America, Europe, Asia Pacific, and LAMEA) – Market insights, analysis, trends, and forecast 2022-2032

Published Date : April 2022 | Report Id : AU 121 | Format : PDF,PPT | Slides : 180
Report Type : Syndicate Report

The Global all-terrain vehicle market was valued at $1.2 billion in 2021 and it is expected to reach $17.3 billion at the CAGR of 11.4% during the forecast period between 2022 and 2032. The demand for all-terrain vehicles is growing globally in the present market scenario. New product launches are estimated to give opportunities to the major key players in the market during the upcoming years. An all-terrain vehicle is a light weighted vehicle attached with large and thick tires. This vehicle can be used for purposes such as sports, military activities, farming, and transportation. However, it is not street-legal in most of the territories of America, Australia, and Canada. Manufacturing companies from other regions are increasing their investment in producing innovative ATV products. The global all-terrain vehicle market is segmented into vehicle types, product types, and applications.

North America is expected to hold the highest market share during the forecast period.

All-Terrain Vehicle Market

Source: SAI Research

The COVID-19 has been negatively impacted the all-terrain vehicle market for the last two years, especially in America and some of the Asian region. European countries were also affected by the epidemic situation and several lockdowns happened in those countries, which stopped the activities of sports riding. However, with the reopening of some sports and riding activities in the upcoming months, the global all-terrain market is expected to make a huge growth through the forecast period. A small vehicle attached with three or more thick and large tires mainly used for a raw surface is known as an all-terrain vehicle. It is a light utility vehicle and it can be found on four wheels, three wheels, and two wheels. Apart from sports and military activities, an all-terrain vehicle is also used by farmers. For instance, 4WD ATV can be used for farming and harvesting. It has an extra pulling power utility with a better holdback for the downhill road that can help a farmer to crop in the field. 

The design of the all-terrain vehicle has better protection for the tough and harsh environment rather than any other conventional vehicle. This type of vehicle has a wide range of applications such as in forestry, military, sports, and agriculture. Although, the all-terrain vehicle is used as an off-road vehicle, but in several regions it is also allowed to be driven on normal public roads. The demand for the all-terrain vehicle is rising in the agricultural sector for several activities such as weed control, plowing, normal transportation, and animal or cattle handling. The vehicle also can be used in applications such as construction, utilizing, mining, and search and rescue operations. Several manufacturing companies are producing all-terrain vehicles for agricultural purposes to increase product visibility across the region. The adoption of all-terrain vehicles is witnessing immense growth in European countries as well as in North America. These regions have made off-road terrain trails and parks, especially for all-terrain vehicle enthusiasts. In the Asia-Pacific region, off-road sports activities are also increasing. Riding sports events are happening in some of the territories across the Asian countries. Therefore, these major factors are expected to drive the market over the upcoming years. Some key players operating in the Asia-Pacific all-terrain vehicle market are Honda Motor Co. Ltd., Polaris Industries Inc., Yamaha Motor Co. Ltd., among others. In India, four-wheeler all-terrain vehicles which are known as quads are available in the market. These quads are such as Nebula 125E, Nebula Dingo 250, and Nebula Maritime ATV among others.

The major players of the all-terrain vehicle market such as Honda (Japan), Polaris (US), Yamaha, Textron (US), Suzuki (Japan), Kawasaki (Japan), BRP (Canada), Taiwan Golden Bee, Arctic Cat Inc., and others are dominating the global market. These key players are rapidly producing innovative products, increasing their market strategies, and making collaborations and partnerships with other companies to increase their growth in the market across the globe. Polaris Industries is one of the dominating companies in the US. In 2020, the company launched Sportsman 450 H.O. and Sportsman 570 which are offered in different markets of the region. Honda is another leading player which has been dominating the global all-terrain vehicle market. The company has also tried to make partnerships and collaborations with other companies to develop and increase their business growth to stay ahead in the global all-terrain vehicle market.

Scope of the Report:

Report Coverage

Details

Base Year:

2021

Market Size in 2021:

USD 1.2 Billion

Historical Data for:

2019, 2020 and 2021

Forecast Period:

2022 to 2032

Forecast Period 2022 to 2032 CAGR:

8.7%

2032 Value Projection:

USD 3.1 Billion

Segments covered:

By Engine Type -Below 400cc, 400-800cc, Above 800cc.

By Application Type - Agriculture, Entertainment, Military, Sports and Others.

By Vehicle Type - Sports ATV, Utility ATV, Military or Defense Purpose, Recreational and others.

By Product - Three-Wheeler, Four-Wheeler, Six-Wheeler, Eight-Wheeler

Geographies covered:

North America: U.S., Canada, Mexico

Europe: Germany, U.K., Spain, France, Italy, Russia, Rest of Europe

Asia Pacific: China, India, Japan, Australia, South Korea, ASEAN, and Rest of Asia Pacific

Africa: South Africa, North Africa, and Africa

Middle East: GCC, Israel, and Rest of Middle East

Latin America: Brazil, Argentina, Rest of Latin America

Companies covered:

Honda (Japan), Polaris (US), Yamaha, Textron (US), Suzuki (Japan), Kawasaki (Japan), BRP (Canada), Taiwan Golden Bee, Arctic Cat Inc., and others

Global All-Terrain Vehicle Market Has Been Segmented into:

Global All-Terrain Vehicle Market – By Engine Type

  • Below 400cc
  • 400-800cc
  • Above 800cc

 Global All-Terrain Vehicle Market - By Application Type

  • Agriculture
  • Entertainment
  • Military
  • Sports and Others

 Global All-Terrain Vehicle - By vehicle Type

  • Sports ATV
  • Utility ATV
  • Military or Defense Purpose
  • Recreational and others

Global All-Terrain Vehicle Market – By Product

  • Three-Wheeler
  • Four-Wheeler
  • Six-Wheeler
  • Eight-Wheeler

Global All-Terrain Vehicle Market – By Regional Outlook

  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • U.K.
    • Russia
    • France
    • Italy
    • Germany
    • RoE
  • Asia Pacific
    • South Korea
    • Japan
    • China
    • India
    • Australia
    • RoAPAC
  • Latin America, Middle East and Africa (LAMEA)

 

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