This report describes and explains the all-terrain vehicle (ATV) and utility task vehicle (UTV) market and covers 2017-2022, termed the historic period, and 2022-2027, 2032F termed the forecast period. The report evaluates the market across each region and for the major economies within each region.
The global all-terrain vehicle (ATV) and utility task vehicle (UTV) market reached a value of nearly $8,778.8 million in 2022, having grown at a compound annual growth rate (CAGR) of 5.0% since 2017. The market is expected to grow from $8,778.8 million in 2022 to $13,294.2 million in 2027 at a rate of 8.7%. The market is then expected to grow at a CAGR of 9.2% from 2027 and reach $20,678.9 million in 2032.
Growth in the historic period resulted from the emerging markets growth, the increasing ATV and UTV use in military activities and growth in the global population. Factors that negatively affected growth in the historic period included the lack of skilled labor.
Going forward, government support, the rising urbanization, the increasing number of high-net-worth individuals and the increasing global awareness to reduce greenhouse gas emissions will drive the growth. Factors that could hinder the growth of the all-terrain vehicle (ATV) and utility task vehicle (UTV) market in the future include the stringent regulations.
The all-terrain vehicle (ATV) and utility task vehicle (UTV) market is segmented by type into all-terrain vehicle (ATV) and utility task vehicle (UTV). The utility task vehicle (UTV) market was the largest segment of the all-terrain vehicle (ATV) and utility task vehicle (UTV) market segmented by type, accounting for 60.9% of the total in 2022. Going forward, the utility task vehicle (UTV) segment is expected to be the fastest growing segment in the all-terrain vehicle (ATV) and utility task vehicle (UTV) market segmented by type, at a CAGR of 10.5% during 2022-2027.
The all-terrain vehicle (ATV) and utility task vehicle (UTV) market is segmented by displacement into less than 400cc, 400cc-800cc, more than 800cc and others. The 400cc-800cc market was the largest segment of the all-terrain vehicle (ATV) and utility task vehicle (UTV) market segmented by displacement, accounting for 40.3% of the total in 2022. Going forward, the others segment is expected to be the fastest growing segment in the all-terrain vehicle (ATV) and utility task vehicle (UTV) market segmented by displacement, at a CAGR of 10.9% during 2022-2027.
The all-terrain vehicle (ATV) and utility task vehicle (UTV) market is segmented by fuel types into fossil fuels, electric and solar. The fossil fuels market was the largest segment of the all-terrain vehicle (ATV) and utility task vehicle (UTV) market segmented by fuel types, accounting for 85.7% of the total in 2022. Going forward, the electric segment is expected to be the fastest growing segment in the all-terrain vehicle (ATV) and utility task vehicle (UTV) market segmented by fuel types, at a CAGR of 11.1% during 2022-2027.
The all-terrain vehicle (ATV) and utility task vehicle (UTV) market is segmented by end user into recreational, sports, agriculture and utility, military and defense and other end-users. The recreational market was the largest segment of the all-terrain vehicle (ATV) and utility task vehicle (UTV) market segmented by end user, accounting for 39.6% of the total in 2022. Going forward, the sports segment is expected to be the fastest growing segment in the all-terrain vehicle (ATV) and utility task vehicle (UTV) market segmented by end user, at a CAGR of 9.0% during 2022-2027.
North America was the largest region in the all-terrain vehicle (ATV) and utility task vehicle (UTV) market, accounting for 61.3% of the total in 2022. It was followed by Asia Pacific, Western Europe and then the other regions. Going forward, the fastest-growing regions in the all-terrain vehicle (ATV) and utility task vehicle (UTV) market will be North America and Western Europe where growth will be at CAGRs of 9.8% and 9.6% respectively. These will be followed by Eastern Europe and the Middle East where the markets are expected to grow at CAGRs of 8.0% and 6.8% respectively.
The global all-terrain vehicle (ATV) and utility task vehicle (UTV) market is highly concentrated, with large players in the market. The top ten competitors in the market made up to 88.56% of the total market in 2021. The companies in the market are consistently developing new products, adopted expansion strategies, and undertook collaborations, partnerships, and mergers and acquisitions to gain traction in this high growth ATV and UTV market across different regions. Polaris Inc. was the largest competitor with 55.63% of the market, followed by Yamaha Motor Co., Ltd. with 10.88%, Kawasaki Heavy Industries Ltd. with 4.77%, Bombardier Recreational Products (BRP) Inc. with 3.09%, Zhejiang Chunfeng Power Co., Ltd. (CFMoto) with 2.92%, Suzuki Motor Corporation with 2.92%, Hisun Motors Corporation with 2.70%, Kubota Corporation with 2.15%, Honda Motors Co Ltd with 1.76% and Textron Inc. (Arctic Cat) with 1.74%.
The top opportunities in the all-terrain vehicle (ATV) and utility task vehicle (UTV) market segmented by type will arise in the utility task vehicle (UTV) segment, which will gain $3,470.2 million of global annual sales by 2027. The top opportunities in the all-terrain vehicle (ATV) and utility task vehicle (UTV) market segmented by displacement will arise in the 400cc-800cc segment, which will gain $1,831.8 million of global annual sales by 2027. The top opportunities in the all-terrain vehicle (ATV) and utility task vehicle (UTV) market segmented by fuel types will arise in the fossil fuels segment, which will gain $3,664.4 million of global annual sales by 2027. The top opportunities in the all-terrain vehicle (ATV) and utility task vehicle (UTV) market segmented by end user will arise in the recreational segment, which will gain $1,831.9 million of global annual sales by 2027. The all-terrain vehicle (ATV) and utility task vehicle (UTV) market size will gain the most in the USA at $2,836.4 million.
Market-trend-based strategies for the all-terrain vehicle (ATV) and utility task vehicle (UTV) market include focus on manufacturing electric ATVs and UTVs to reduce the fossil fuel consumption, noise and emissions, focus on manufacturing amphibious terrain vehicles, which can be fitted with flotation screens, or flotation collars which give additional buoyancy in the water allowing these vehicles to wade through deeper waters, focus on collaborations and acquisitions to improve their financial strength, strengthen their product portfolio and expand their geographical presence and focus on product innovations and developing new product solutions to strengthen their position in the market.
Player-adopted strategies in the all-terrain vehicle (ATV) and utility task vehicle (UTV) market include focus on enhancing operational capabilities through the launch of new products and technological development, focus on maintaining a constant focus on improving the rider experience across entire lineup of powersports vehicles and focus on offering innovative solutions through strategic collaborations and partnerships and distribution agreements.
To take advantage of the opportunities, the publisher recommends the all-terrain vehicle (ATV) and utility task vehicle (UTV) companies to focus on electric ATVs and UTVs, focus on amphibious terrain vehicles, focus on innovative product launches, expand in emerging markets, continue to focus on developed markets, focus on collaborations and acquisitions, provide competitively priced offerings, focus on online marketing, sponsor sports activities, continue to use B2B promotions, focus on urban population, continue to target fast-growing end-users, and focus on high-net-worth individuals.
The global all-terrain vehicle (ATV) and utility task vehicle (UTV) market reached a value of nearly $8,778.8 million in 2022, having grown at a compound annual growth rate (CAGR) of 5.0% since 2017. The market is expected to grow from $8,778.8 million in 2022 to $13,294.2 million in 2027 at a rate of 8.7%. The market is then expected to grow at a CAGR of 9.2% from 2027 and reach $20,678.9 million in 2032.
Growth in the historic period resulted from the emerging markets growth, the increasing ATV and UTV use in military activities and growth in the global population. Factors that negatively affected growth in the historic period included the lack of skilled labor.
Going forward, government support, the rising urbanization, the increasing number of high-net-worth individuals and the increasing global awareness to reduce greenhouse gas emissions will drive the growth. Factors that could hinder the growth of the all-terrain vehicle (ATV) and utility task vehicle (UTV) market in the future include the stringent regulations.
The all-terrain vehicle (ATV) and utility task vehicle (UTV) market is segmented by type into all-terrain vehicle (ATV) and utility task vehicle (UTV). The utility task vehicle (UTV) market was the largest segment of the all-terrain vehicle (ATV) and utility task vehicle (UTV) market segmented by type, accounting for 60.9% of the total in 2022. Going forward, the utility task vehicle (UTV) segment is expected to be the fastest growing segment in the all-terrain vehicle (ATV) and utility task vehicle (UTV) market segmented by type, at a CAGR of 10.5% during 2022-2027.
The all-terrain vehicle (ATV) and utility task vehicle (UTV) market is segmented by displacement into less than 400cc, 400cc-800cc, more than 800cc and others. The 400cc-800cc market was the largest segment of the all-terrain vehicle (ATV) and utility task vehicle (UTV) market segmented by displacement, accounting for 40.3% of the total in 2022. Going forward, the others segment is expected to be the fastest growing segment in the all-terrain vehicle (ATV) and utility task vehicle (UTV) market segmented by displacement, at a CAGR of 10.9% during 2022-2027.
The all-terrain vehicle (ATV) and utility task vehicle (UTV) market is segmented by fuel types into fossil fuels, electric and solar. The fossil fuels market was the largest segment of the all-terrain vehicle (ATV) and utility task vehicle (UTV) market segmented by fuel types, accounting for 85.7% of the total in 2022. Going forward, the electric segment is expected to be the fastest growing segment in the all-terrain vehicle (ATV) and utility task vehicle (UTV) market segmented by fuel types, at a CAGR of 11.1% during 2022-2027.
The all-terrain vehicle (ATV) and utility task vehicle (UTV) market is segmented by end user into recreational, sports, agriculture and utility, military and defense and other end-users. The recreational market was the largest segment of the all-terrain vehicle (ATV) and utility task vehicle (UTV) market segmented by end user, accounting for 39.6% of the total in 2022. Going forward, the sports segment is expected to be the fastest growing segment in the all-terrain vehicle (ATV) and utility task vehicle (UTV) market segmented by end user, at a CAGR of 9.0% during 2022-2027.
North America was the largest region in the all-terrain vehicle (ATV) and utility task vehicle (UTV) market, accounting for 61.3% of the total in 2022. It was followed by Asia Pacific, Western Europe and then the other regions. Going forward, the fastest-growing regions in the all-terrain vehicle (ATV) and utility task vehicle (UTV) market will be North America and Western Europe where growth will be at CAGRs of 9.8% and 9.6% respectively. These will be followed by Eastern Europe and the Middle East where the markets are expected to grow at CAGRs of 8.0% and 6.8% respectively.
The global all-terrain vehicle (ATV) and utility task vehicle (UTV) market is highly concentrated, with large players in the market. The top ten competitors in the market made up to 88.56% of the total market in 2021. The companies in the market are consistently developing new products, adopted expansion strategies, and undertook collaborations, partnerships, and mergers and acquisitions to gain traction in this high growth ATV and UTV market across different regions. Polaris Inc. was the largest competitor with 55.63% of the market, followed by Yamaha Motor Co., Ltd. with 10.88%, Kawasaki Heavy Industries Ltd. with 4.77%, Bombardier Recreational Products (BRP) Inc. with 3.09%, Zhejiang Chunfeng Power Co., Ltd. (CFMoto) with 2.92%, Suzuki Motor Corporation with 2.92%, Hisun Motors Corporation with 2.70%, Kubota Corporation with 2.15%, Honda Motors Co Ltd with 1.76% and Textron Inc. (Arctic Cat) with 1.74%.
The top opportunities in the all-terrain vehicle (ATV) and utility task vehicle (UTV) market segmented by type will arise in the utility task vehicle (UTV) segment, which will gain $3,470.2 million of global annual sales by 2027. The top opportunities in the all-terrain vehicle (ATV) and utility task vehicle (UTV) market segmented by displacement will arise in the 400cc-800cc segment, which will gain $1,831.8 million of global annual sales by 2027. The top opportunities in the all-terrain vehicle (ATV) and utility task vehicle (UTV) market segmented by fuel types will arise in the fossil fuels segment, which will gain $3,664.4 million of global annual sales by 2027. The top opportunities in the all-terrain vehicle (ATV) and utility task vehicle (UTV) market segmented by end user will arise in the recreational segment, which will gain $1,831.9 million of global annual sales by 2027. The all-terrain vehicle (ATV) and utility task vehicle (UTV) market size will gain the most in the USA at $2,836.4 million.
Market-trend-based strategies for the all-terrain vehicle (ATV) and utility task vehicle (UTV) market include focus on manufacturing electric ATVs and UTVs to reduce the fossil fuel consumption, noise and emissions, focus on manufacturing amphibious terrain vehicles, which can be fitted with flotation screens, or flotation collars which give additional buoyancy in the water allowing these vehicles to wade through deeper waters, focus on collaborations and acquisitions to improve their financial strength, strengthen their product portfolio and expand their geographical presence and focus on product innovations and developing new product solutions to strengthen their position in the market.
Player-adopted strategies in the all-terrain vehicle (ATV) and utility task vehicle (UTV) market include focus on enhancing operational capabilities through the launch of new products and technological development, focus on maintaining a constant focus on improving the rider experience across entire lineup of powersports vehicles and focus on offering innovative solutions through strategic collaborations and partnerships and distribution agreements.
To take advantage of the opportunities, the publisher recommends the all-terrain vehicle (ATV) and utility task vehicle (UTV) companies to focus on electric ATVs and UTVs, focus on amphibious terrain vehicles, focus on innovative product launches, expand in emerging markets, continue to focus on developed markets, focus on collaborations and acquisitions, provide competitively priced offerings, focus on online marketing, sponsor sports activities, continue to use B2B promotions, focus on urban population, continue to target fast-growing end-users, and focus on high-net-worth individuals.
Table of Contents
1. Executive Summary2. Table Of Contents3. List Of Figures4. List Of Tables5. Report Structure
6. Introduction and Market Characteristics
7. Major Market Trends
8. Global Market Size and Growth
9. Global All-Terrain Vehicle (ATV) And Utility Task Vehicle (UTV) Market Segmentation
10. All-Terrain Vehicle (ATV) And Utility Task Vehicle (UTV) Market, Regional and Country Analysis
11. Asia-Pacific Market
12. Western Europe Market
13. Eastern Europe Market
14. North America Market
15. South America Market
16. Middle East Market
17. Africa Market
18. Competitive Landscape And Company Profiles
19. Key Mergers and Acquisitions
20. Opportunities And Strategies
21. All-Terrain Vehicle (ATV) And Utility Task Vehicle (UTV) Market, Conclusions And Recommendations
22. Appendix
Executive Summary
All-Terrain Vehicle (ATV) and Utility Task Vehicle (UTV) Global Market Opportunities and Strategies To 2032 provides the strategists; marketers and senior management with the critical information they need to assess the global all-terrain vehicle (ATV) and utility task vehicle (UTV) market as it emerges from the COVID-19 shut down.Reasons to Purchase
- Gain a truly global perspective with the most comprehensive report available on this market covering 12 geographies.
- Understand how the market is being affected by the coronavirus and how it is likely to emerge and grow as the impact of the virus abates.
- Create regional and country strategies on the basis of local data and analysis.
- Identify growth segments for investment.
- Outperform competitors using forecast data and the drivers and trends shaping the market.
- Understand customers based on the latest market research findings.
- Benchmark performance against key competitors.
- Utilize the relationships between key data sets for superior strategizing.
- Suitable for supporting your internal and external presentations with reliable high-quality data and analysis
Description:
Where is the largest and fastest-growing market for all-terrain vehicle (ATV) and utility task vehicle (UTV)? How does the market relate to the overall economy; demography and other similar markets? What forces will shape the market going forward? The all-terrain vehicle (ATV) and utility task vehicle (UTV) market global report answers all these questions and many more.The report covers market characteristics; size and growth; segmentation; regional and country breakdowns; competitive landscape; market shares; trends and strategies for this market. It traces the market's history and forecasts market growth by geography. It places the market within the context of the wider all-terrain vehicle (ATV) and utility task vehicle (UTV) market; and compares it with other markets.
The report covers the following chapters
- Introduction and Market Characteristics- Brief introduction to the segmentations covered in the market, definitions and explanations about the all-terrain vehicle (ATV) and utility task vehicle (UTV) market.
- Key Trends - Highlights the major trends shaping the global all-terrain vehicle (ATV) and utility task vehicle (UTV) market. This section also highlights likely future developments in the market.
- Global Market Size and Growth - Global historic (2017-2022) and forecast (2022-2027, 2032F) market values, and drivers and restraints that support and control the growth of the market in the historic and forecast periods.
- Regional Analysis - Historic (2017-2022) and forecast (2022-2027, 2032F) market values and growth and market share comparison by region.
- Market Segmentation - Contains the market values (2017-2022) (2022-2027, 2032F) and analysis for each segment by type, by displacement, by fuel types and by end user in the market.
- Regional Market Size and Growth - Regional market size (2022), historic (2017-2022) and forecast (2022-2027, 2032F) market values, and growth and market share comparison of countries within the region. This report includes information on all the regions Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa and major countries within each region.
- Competitive Landscape - Details on the competitive landscape of the market, estimated market shares and company profiles of the leading players.
- Key Mergers and Acquisitions - Information on recent mergers and acquisitions in the market covered in the report. This section gives key financial details of mergers and acquisitions, which have shaped the market in recent years.
- Market Opportunities and Strategies - Describes market opportunities and strategies based on findings of the research, with information on growth opportunities across countries, segments and strategies to be followed in those markets.
- Conclusions and Recommendations - Includes recommendations for all-terrain vehicle (ATV) and utility task vehicle (UTV) providers in terms of product/service offerings, geographic expansion, marketing strategies and target groups.
- Appendix - This section includes details on the NAICS codes covered, abbreviations and currencies codes used in this report.
Scope
Markets Covered:
1) By Type: All-Terrain Vehicle (ATV); Utility Task Vehicle (UTV)2) By Displacement: Less Than 400cc; 400cc-800cc; More Than 800cc; Others
3) By Fuel Types: Fossil Fuels; Electric; Solar
4) By End User: Recreational; Sports; Agriculture and Utility; Military and Defense; Other End-Users
Companies Mentioned: Polaris Inc; Yamaha Motor Co., Ltd; Kawasaki Heavy Industries Ltd; Bombardier Recreational Products (BRP) Inc; Zhejiang Chunfeng Power Co., Ltd. (CFMoto)
Countries: China; Australia; India; Indonesia; Japan; South Korea; USA; Brazil; France; Germany; UK; Russia
Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Time-series: Five years historic and ten years forecast.
Data: Ratios of market size and growth to related markets; GDP proportions; expenditure per capita; all-terrain vehicle (ATV) and utility task vehicle (UTV) indicators comparison.
Data segmentations: country and regional historic and forecast data; market share of competitors; market segments.
Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
Companies Mentioned
- Polaris Inc
- Yamaha Motor Co., Ltd
- Kawasaki Heavy Industries Ltd
- Bombardier Recreational Products (BRP) Inc
- Zhejiang Chunfeng Power Co., Ltd. (CFMoto)
Methodology
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 336 |
| Published | August 2023 |
| Forecast Period | 2021 - 2031 |
| Estimated Market Value ( USD | $ 8778.8 Million |
| Forecasted Market Value ( USD | $ 20678.9 Million |
| Compound Annual Growth Rate | 8.9% |
| Regions Covered | Global |
| No. of Companies Mentioned | 5 |
