ATV, Golf Cart & Snowmobile Manufacturing in the US - Market Size, Industry Analysis, Trends and Forecasts (2024-2029)

Low on fuel: Time spent on leisure and sports will drop, hindering industry revenue

ATV, golf cart and snowmobile manufacturers produce a multitude of on-ground and water-based vehicles. In addition to the physical vehicle production, they also produce parts and pieces required to fix the vehicles. Most products available are considered discretionary, so they are typically purchased during good economic times. During the period, COVID-19 caused a massive decline in demand for ATVs, golf carts and snowmobiles. Part of this decline in demand is due to a faltering global trade scene, which dampened activity even further. During COVID, demand was partially supported by an uptick in time spent on leisure, which did boost demand for ATVs, golf carts and snowmobiles, this was not enough to offset the declines from falling exports. In 2022, the Federal Reserve announced they would move forward with contractionary monetary policy to fight the rapidly increasing inflation rates. Interest rates rose as a result, proving to be troublesome on many fronts for manufacturers. The primary problem is falling demand for ATVs, golf carts and snowmobiles. Because of the price point of ATVs and snowmobiles, financing is a popular method for acquiring one, meaning as interest rates increased it became more costly for consumers to finance them, dropping demand in return. Overall, revenue for ATV, golf cart and snowmobile manufacturers fell at a CAGR of 2.3% to $9.2 billion through 2023, with a 3.5% decrease in 2023 alone.

This industry consists of businesses that manufacture all-terrain vehicles (ATVs), snowmobiles, golf carts, personal watercraft or other transport equipment. It also includes businesses that manufacture equipment and parts for the aforementioned transport equipment.

This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.