Global All-Terrain Vehicle Market, By Engine Type (Below 400cc, 400cc-800cc, Above 800cc), By Application Type (Agriculture, Sports, Recreation, Military & Defence), By Region (North America, Europe, Asia Pacific, Middle East & Africa, and South America) – Market Size & Forecasting To 2030Industry: Automotive & Transportation
The Global All-Terrain Market size was valued at $1.25 billion in 2021 and is expected to reach at a CAGR of 5.2% from 2022 to 2030. The main drivers of market expansion are the expanding interest in outdoor sporting activities, such as off-road competitions, the expansion of adventure and trails parks, and the rising demand for ATVs for military and agricultural use.
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Over the projection period, it is also projected that rising disposable income and spending power of people in developed and developing nations will fuel the demand for all-terrain vehicles.
The market for All-Terrain Vehicles has been expanding due to a number of causes. First off, the nation's expanding economy is causing people and society to have more money to spend on these leisure and adventure vehicles. Second, all-terrain vehicle competitions in industrialised countries boost tourism, which further fuels this sector. Thirdly, all-terrain vehicles make it simpler for those with physical limitations or disabilities to explore the area than it would have been without them.
Global All-Terrain Vehicle Market Report Coverage
|Market Size in 2021:||USD 1.26 Billion|
|Forecast Period 2022-2030 CAGR:||5.2%|
|2030 Value Projection:||USD 7.2 Billion|
|Historical Data for:||2019-2020|
|No. of Pages:||195|
|Tables, Charts & Figures:||110|
|Segments covered:||The global all-terrain vehiclemarket is segmented into Engine Type, Application, End User, and Region.|
|Companies Covered:||Polaris Inc., American Honda Motor Co., Inc., Bombardier Recreational Products (BRP), Yamaha Motor Corporation, Arctic Cat Inc.|
|Growth Drivers:||The main drivers of market expansion are the expanding interest in outdoor sporting activities, such as off-road competitions, the expansion of adventure and trails parks, and the rising demand for ATVs for military and agricultural use.|
|Pitfalls & Challenges:||The growth of the all-terrain vehicle market may be constrained by an increase in off-road accidents and fatalities.|
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The best thing about ATVs is their ability to manoeuvre in off-road and challenging terrain. Compared to traditional cars, the vehicle's design guarantees superior protection from challenging operating circumstances. Numerous industries, including forestry, sports, the military, agriculture, and defence, use them. Due to their simplicity of usage in outlying locations and capacity to provide a practical means of transporting supplies and equipment, ATVs have grown in popularity over the past several years. Although they are frequently utilised in off-road environments, certain regions have recently permitted their use on public highways as well.
The market for all-terrain vehicles is rising as a result of the rise in popularity of outdoor activities, sports, and recreation. The market is also growing as a result of people having more discretionary income. The need for ATVs in the military, defence, and agricultural industries is also pushing up market growth. However, it is anticipated that safety concerns brought on by increased accident rates will restrain market growth. The tremendous power and torque of all-terrain vehicles is driving the market demand. As there are more desert events, ATV championships, adventure trails, and parks, the ATV industry will expand.
When conditions are difficult and immediate adhesive friction is required to safely merge into a merging terrain, AWDs come to the fore. To safely negotiate the path or terrain, all four wheels must engage and give the necessary traction. A increasing emphasis on safety features and increased ATV production will soon boost the market for AWD ATVs. The growth of the all-terrain vehicle market may be constrained by an increase in off-road accidents and fatalities. Numerous things, including as breaking norms and regulations, failing to take safety steps like wearing protective gear while riding, and underage driving, can result in accidents.
COVID 19 Impact
Due to the emergence of the COVID-19 virus, the market for all-terrain vehicles had negative growth during the first half of 2020. Numerous assembly and manufacturing facilities had to temporarily close as a result of the global shutdown and limitations. In the upcoming quarters, it is anticipated that lower auto sales will further impede the ATV industry and the market's expansion. However, the growing demand for leisure activities around the world is probably going to help the market expand.
The global all-terrain vehiclemarket is segmented into Engine Type, Application, End User, and Region.
Global All-Terrain Vehicle Market, By Engine Type
The ATV market has been divided into three categories based on engine size: under 400 cc, between 400 cc and 800 cc, and over 800 cc. With a revenue share of more than 48.2%, the 400cc-800cc engine category commanded the majority of the market in 2021. The popularity of these cars for utility purposes is a factor in the increase. For instance, ATVs have a lot of storage space and are frequently used to transport supplies and equipment. These vehicles are being used by government entities for monitoring wild and forest regions and search and rescue missions.To serve a wider spectrum of users and find new application areas, leading industry companies are releasing 400cc-800cc ATVs. For instance, Suzuki Motor of America, Inc. introduced the Quad 750 XP and 500 XP in the 400-800cc category with greater towing capacity to satisfy customer demand.
Global All-Terrain Vehicle Market, By Application
The ATV market has been divided into sports, agriculture, military and defence, and recreational uses based on application. With a share of more than 65.5%, the recreational segment dominated the market in 2021. The popularity of hiking and camping excursions can be blamed for the rising demand for ATVs for recreational use. Government programmes to promote ATVs, such as providing incentives to those who participate in off-road and rough terrain sports, are also anticipated to fuel market expansion during the forecast period.For instance, the Oregon Parks & Recreation Department launched an ATV grant programme in 2017 that aids in funding property acquisition, operation and maintenance, law enforcement, and emergency medical services.
Global All-Terrain Vehicle Market, By Region
With a revenue share of more than 56.3%, North America dominated the market in 2021. Due to a number of variables, including citizens' better disposable money, a developed economy, regulatory restrictions on ATVs, and planned electric vehicle initiatives, the adoption of ATVs has significantly increased in the U.S. and Canada. Numerous off-road terrain trails and parks can be found in the area, including River Valley Motocross, Rocky Ridge Ranch, and Northwest Off-Highway Vehicle Park. These parks and trails draw a lot of tourists, which stimulates the market.
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Recent Developments in Global All-TerrainVehicle Market
- August 2022: To provide customised 5.5-inch Tread navigators for its Wildcat XX Black Hills Edition side-by-side vehicles, Arctic Cat Inc. chose Garmin International, Inc. The alliance intends to assist the business in offering customers a cutting-edge product line. Arctic Cat Inc.'s 2023 Wildcat XX Black Hills Edition will include the navigators.
List of Key Market Players
- Polaris Inc.
- American Honda Motor Co., Inc.
- Bombardier Recreational Products (BRP)
- Yamaha Motor Corporation
- Arctic Cat Inc.
Polaris Inc., American Honda Motor Co., Inc., Bombardier Recreational Products (BRP), Yamaha Motor Corporation, Arctic Cat Inc.
By Engine Type
- Below 400cc
- Above 800cc
- Military and Defense
- North America, by Country
- North America, by Engine Type
- North America, by Application
- Europe, by Country
- The Netherlands
- Rest of Europe
- Europe, by Engine Type
- Europe, by Application
- Asia Pacific, by Country
- South Korea
- Rest of Asia Pacific
- Asia Pacific, by Engine Type
- Asia Pacific, by Application
Middle East & Africa
- Middle East & Africa, by Country
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
- Middle East & Africa, by Engine Type
- Middle East & Africa, by Application
- South America, by Country
- Rest of South America
- South America, by Engine Type
- South America, by Application
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