The North America ATV and UTV Market should witness market growth of 6.9% CAGR during the forecast period (2023-2030).
Over the past few years, ATVs and UTVs have become popular as practical means to carry equipment and supplies while enabling access to remote areas. ATVs and UTVs are additionally utilized for transportation purposes by eliminating the use of animals. The military, marine, and army ground units also use these vehicles for patrol, security, and reconnaissance purposes. For instance, in November 2020, Polaris Government & Defense developed Sportsman MV850 ATV for military uses, such as training and forward operations' administrative, security, patrol, and reconnaissance purposes.
In addition, continuous government support for using off-road vehicles in various industries, including military & defense, agriculture, and others, creates more opportunities for the market to expand. The use of electric ATVs and UTVs is governed by state-specific legislation and rules. Off-road vehicles, or LSVs, must also be insured and registered in some states. The use of these vehicles may also be governed by local laws in some towns and cities. Most states require that drivers of electric ATVs and UTVs be at least 16 years old.
The North American region is anticipated to have a significant demand for off-road vehicles during the forecasted period. All-terrain vehicles significantly rose as youth’s interest in outdoor and adventurous activities increased. The growth of leisure spending and the quantity of off-roading activities in the area are the two main factors driving the market. The availability of a wide range of ATVs at various price points is also anticipated to promote growth.
The US market dominated the North America ATV and UTV Market by Country in 2022 and would continue to be a dominant market till 2030; thereby, achieving a market value of $4,129.7 million by 2030. The Canada market is showcasing a CAGR of 9.3% during (2023-2030). Additionally, The Mexico market should witness a CAGR of 8.4% during (2023-2030).
Based on Vehicle Type, the market is segmented into UTV, and ATV. Based on Fuel Type, the market is segmented into Gasoline Powered, Diesel Powered, Electric Powered, and Solar Powered. Based on End-use, the market is segmented into Mountaineering, Military, Agriculture, and Others. Based on Displacement, the market is segmented into More Than 800 CC, 400 CC To 800 CC, and Less Than 400 CC. Based on Power Output, the market is segmented into 50kW to 100 kW, Less Than 50kW, and Above 100 kW. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Bombardier Recreational Products, Inc., Zhejiang CFMoto Power Co., Ltd., Deere & Company, Honda Motor Co. Ltd., Kawasaki Heavy Industries, Ltd., KUBOTA Corporation, Kwang Yang Motor Company Ltd., Suzuki Motor Corporation, Textron, Inc., and Yamaha Motor Co., Ltd.
Over the past few years, ATVs and UTVs have become popular as practical means to carry equipment and supplies while enabling access to remote areas. ATVs and UTVs are additionally utilized for transportation purposes by eliminating the use of animals. The military, marine, and army ground units also use these vehicles for patrol, security, and reconnaissance purposes. For instance, in November 2020, Polaris Government & Defense developed Sportsman MV850 ATV for military uses, such as training and forward operations' administrative, security, patrol, and reconnaissance purposes.
In addition, continuous government support for using off-road vehicles in various industries, including military & defense, agriculture, and others, creates more opportunities for the market to expand. The use of electric ATVs and UTVs is governed by state-specific legislation and rules. Off-road vehicles, or LSVs, must also be insured and registered in some states. The use of these vehicles may also be governed by local laws in some towns and cities. Most states require that drivers of electric ATVs and UTVs be at least 16 years old.
The North American region is anticipated to have a significant demand for off-road vehicles during the forecasted period. All-terrain vehicles significantly rose as youth’s interest in outdoor and adventurous activities increased. The growth of leisure spending and the quantity of off-roading activities in the area are the two main factors driving the market. The availability of a wide range of ATVs at various price points is also anticipated to promote growth.
The US market dominated the North America ATV and UTV Market by Country in 2022 and would continue to be a dominant market till 2030; thereby, achieving a market value of $4,129.7 million by 2030. The Canada market is showcasing a CAGR of 9.3% during (2023-2030). Additionally, The Mexico market should witness a CAGR of 8.4% during (2023-2030).
Based on Vehicle Type, the market is segmented into UTV, and ATV. Based on Fuel Type, the market is segmented into Gasoline Powered, Diesel Powered, Electric Powered, and Solar Powered. Based on End-use, the market is segmented into Mountaineering, Military, Agriculture, and Others. Based on Displacement, the market is segmented into More Than 800 CC, 400 CC To 800 CC, and Less Than 400 CC. Based on Power Output, the market is segmented into 50kW to 100 kW, Less Than 50kW, and Above 100 kW. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Bombardier Recreational Products, Inc., Zhejiang CFMoto Power Co., Ltd., Deere & Company, Honda Motor Co. Ltd., Kawasaki Heavy Industries, Ltd., KUBOTA Corporation, Kwang Yang Motor Company Ltd., Suzuki Motor Corporation, Textron, Inc., and Yamaha Motor Co., Ltd.
Scope of the Study
By Vehicle Type
- UTV
- ATV
By Fuel Type
- Gasoline Powered
- Diesel Powered
- Electric Powered
- Solar Powered
By End-user
- Mountaineering
- Military
- Agriculture
- Others
By Displacement
- More Than 800 CC
- 400 CC To 800 CC
- Less Than 400 CC
By Power Output
- 50kW To 100 kW
- Less Than 50kW
- Above 100 kW
By Country
- US
- Canada
- Mexico
- Rest of North America
Key Market Players
List of Companies Profiled in the Report:
- Bombardier Recreational Products, Inc.
- Zhejiang CFMoto Power Co., Ltd.
- Deere & Company
- Honda Motor Co. Ltd.
- Kawasaki Heavy Industries, Ltd.
- KUBOTA Corporation
- Kwang Yang Motor Company Ltd.
- Suzuki Motor Corporation
- Textron, Inc.
- Yamaha Motor Co., Ltd.
Unique Offerings
- Exhaustive coverage
- The highest number of Market tables and figures
- Subscription-based model available
- Guaranteed best price
- Assured post sales research support with 10% customization free
Table of Contents
Chapter 1. Market Scope & Methodology
Chapter 2. Market Overview
Chapter 3. Competition Analysis - Global
Chapter 4. North America ATV and UTV Market by Vehicle Type
Chapter 5. North America ATV and UTV Market by Fuel Type
Chapter 6. North America ATV and UTV Market by End Use
Chapter 7. North America ATV and UTV Market by Displacement
Chapter 8. North America ATV and UTV Market by Power Output
Chapter 9. North America ATV and UTV Market by Country
Chapter 10. Company Profiles
Companies Mentioned
- Bombardier Recreational Products, Inc.
- Zhejiang CFMoto Power Co., Ltd.
- Deere & Company
- Honda Motor Co. Ltd.
- Kawasaki Heavy Industries, Ltd.
- KUBOTA Corporation
- Kwang Yang Motor Company Ltd.
- Suzuki Motor Corporation
- Textron, Inc.
- Yamaha Motor Co., Ltd.
Methodology
LOADING...
