All-terrain Vehicle Market Size, Share, Growth Analysis, By Engine Size (400 cc-800 cc, Above 800cc), By Application (Sports, Military & Defense), By Drive Type (2WD, 4WD), By Region -Industry Forecast 2025-2032
Report ID:
SQMIG25A2344 |
Region:
Global |
Published Date: December, 2024
Pages:
173
|Tables:
0
|Figures:
0
All-terrain Vehicle Market Insights
Global All-terrain Vehicle Market size was valued at USD 4.54 Billion in 2022 and is poised to grow from USD 4.71 Billion in 2023 to USD 6.35 Billion by 2031, growing at a CAGR of 3.8% in the forecast period (2024-2031).
The rising popularity of outdoor sports activities, including off-road events, the increasing number of adventure and trail parks, and the rising demand for all-terrain vehicle (ATVs) for agricultural and military applications are the major factors propelling the growth of the market. Furthermore, the growing disposable income and purchasing capacity of individuals in developed and developing economies are anticipated to drive the demand for all-terrain vehicles over the forecast period.
The demand for gasoline ATVs has increased significantly owing to their wide uses in sports and military applications. Heavy-duty ATVs are primarily equipped with diesel engines for material handling and powerful applications. Electric ATVs are gaining popularity in Europe and North America as an alternative to ATVs operating on diesel and gasoline. Fluctuating prices and environmental concerns about gasoline and diesel are some factors that are projected to drive the demand for electric vehicles across the globe. The introduction of powerful electric motors enables electric all-terrain vehicles to offer a performance advantage over the diesel and gasoline variants.
Market snapshot - 2024-2031
Global Market Size
Largest Segment
Fastest Growth
Growth Rate
CAGR
To get more reports on the above market click here to Buy The Report
All-terrain Vehicle Market Segmental Analysis
Global all-terrain vehicle market is segmented by engine type, drive type, application, region. Based on engine type, the market is segmented into, below 400cc, 400cc-800cc, Above 800cc. Based on application, the market is segmented into agriculture, sports, recreational, military and defense. Based on drive type, the market is segmented into 2WD, 4WD, and AWD. Based on the region, the market is segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa.
Analysis by Engine Size
As per the all-terrain vehicle market analysis, the 400 cc-800 cc segment holds the largest share. The 400 cc-800 cc segment accounted for 46.8% in 2023. Vehicles with engine capacity 400-800 CC are designed with a large storage capacity and are frequently used to transport equipment and supplies. Furthermore, government entities utilize these vehicles for search and rescue missions and forest and wildland monitoring. To appeal to a broader audience and explore new application areas, leading market companies are developing ATVs in the 400-800cc segment. Prominent players in the market are launching 400cc-800cc ATVs to cater to a broader range of users and discover new application areas.
The above 800cc segment is expected to expand at the fastest CAGR of 5.7% during the forecast period. An increase in off-trailing events and activities is projected to drive the demand for ATVs with above 800cc engine capacity. Off-trailing events and activities require vehicles with advanced engine movement capacities to deliver improved torque performance which enables the participants to gain a competitive advantage. The introduction of improved ATVs would enable competitive desert race events and rough terrain, thereby proliferating the demand for ATVs with engine capacity of 800cc and above. The introduction of better ATVs would allow for competitive rough terrain and desert race events, driving the market revenue with a capacity of 800cc and higher.
Analysis by Application
As per the all-terrain vehicle market outlook, the sports segment dominates with a revenue share of more than 47.2% in 2023. The sports segment holds the largest market share due to the rising number of sports events in developed and emerging economies. Governments across the region have raised budget allocations to construct new off-road vehicles, benefiting recreational enthusiasts and boosting adventure sports activities in the area. The high demand for ATVs for recreational purposes can be attributed to the increasing number of hiking and camping activities. Furthermore, government initiatives to promote ATVs, such as making grants available to individuals engaged in rough terrain and off-road activities, are expected to propel the growth of the market during the forecast period.
The military & defense segment is expected to emerge as the fastest-growing market segment during the forecast period. It is due to an increasing preference for UTV and ATV by military forces worldwide. The increased demand for these vehicles in the military segment is primarily due to the better mobility for tactical operations. Furthermore, the remarkable adaptability and navigational functions give vehicle operators precise directions. Original Equipment Manufacturers (OEMs) involved in tactical contracts with military organizations provide off-road transport, utility, electric ATVs, and combat for military applications. For instance, Polaris offers various ATV models, such as Sportsman MV850, DAGOR A1, and Mrzr D4, for military applications.
To get detailed analysis on other segments, Request For Free Sample Report
All-terrain Vehicle Market Regional Insights
North America accounted for USD 2.69 billion in 2023 and is projected to reach USD 3.80 billion by 2032, at a CAGR of around 4.1% over the forecast period. North America led the market with a revenue share of over 46.7% in 2023. Some of the leading manufacturers of all-terrain vehicles, such as Polaris, Textron, BRP, and American Honda Motors, among others present in the U.S. and Canada are crucial supporting the development of the market in this region. The adoption of ATVs witnessed a considerable increase in the U.S. and Canada owing to various factors, such as the higher disposable income of residents, the developed economy, government regulations regarding ATVs, and upcoming electric vehicle projects.
Asia-Pacific is anticipated to see a considerable increase in demand for ATV over the forecast period. It is due to the increased military spending, and low-cost manufacturing. Major suppliers, such as Suzuki, Honda, Kawasaki, and Yamaha Motor Corporation in the Japan are crucial elements supporting the market growth in this region. Asia Pacific is expected to expand at the fastest CAGR of 5.3% during the forecast period owing to factors such as increasing disposable income, the popularity of adventure tourism and outdoor activities. These factors have collectively contributed to the expansion of the all-terrain vehicle market in the Asia Pacific region, providing individuals with exciting outdoor recreational options and driving the demand for ATVs. The rest of the world contributes 6.8% due to fewer automotive OEMs, low technology adoption, and less presence of all typed vehicles.
- Largest
- Fastest
To know more about the market opportunities by region and country, click here to
Buy The Complete Report
All-terrain Vehicle Market Dynamics
Drivers
Rising Demand for ATVs in Agriculture and Military & Defense
- The demand for ATVs from military organizations is propelling the market. In December 2023, Ukrainian forces were supplied with 20 ATV battle buggies crafted by volunteers. The Operational Command "South" of the Ukrainian Armed Forces received the delivery of 20 light tactical vehicles, known as "battle buggies," entirely fabricated through the efforts of a volunteer movement backed by significant industrial enterprises. The demand for ATVs has increased for various farm-related activities such as weed removal, animal handling, and general transportation in the agriculture sector.
Rising Popularity of Outdoor Recreational Activities
- One of the major drivers of the market is the increasing popularity of outdoor recreational activities. As consumers seek new ways to engage in outdoor adventures, activities such as off-roading, hunting, farming, and trail riding have surged in demand, and ATVs are the perfect vehicle for these pursuits. All-terrain vehicles provide a unique combination of ruggedness and versatility, enabling enthusiasts to navigate diverse landscapes, from forests and mountains to deserts and muddy trails.
Restraints
Growing ATVs Related Accident Hamper the Growth of the Market
- Despite the growing market across several regions, the initial cost required to purchase a vehicle is high. This high price of these vehicles may hinder market growth. Furthermore, the growing number of all-terrain vehicle-related accidents is a crucial issue limiting demand for off-road vehicles. Developing countries have mandated/issued norm related to ATV. However, violations of laws & regulations have caused driving injuries and fatalities due to lack of awareness.
High Initial Cost
- While the all-terrain vehicle market is experiencing growth, a huge restraint is the excessive preliminary value of ATVs, especially for excessive-overall performance and electric powered fashions. For many purchasers, the upfront price of buying an ATV may be a deterrent, especially while compared to the exceptionally lower fees of conventional leisure automobiles or dust motorcycles. Even though electric powered ATVs provide long-time financial savings in renovation and fuel fees, the preliminary investment remains a substantial barrier.
Request Free Customization of this report to help us to meet your business objectives.
All-terrain Vehicle Market Competitive Landscape
The market is highly competitive, and the players are undertaking strategies such as product launches, acquisitions, and collaborations to increase their global reach. For instance, in May 2023, Polaris Inc. unveiled the 2024 XPEDITION XP and ADV models, marking the introduction of a pioneering category referred to as ‘Adventure side-by-sides’. These cutting-edge vehicles combine the off-road capabilities of conventional side-by-sides with the convenience and ample storage capacity commonly found in premium overlanding experiences.
Top Player’s Company Profiles
- AKEBONO BRAKE INDUSTRY CO., LTD.
- ZF Friedrichshafen AG
- ADVICS CO., LTD.
- Hitachi Astemo, Ltd.
- Brembo S.p.A
- Robert Bosch GmbH
- AISIN CORPORATION
- Haldex
- The Web Co
- NISSIN KOGYO Co., Ltd
Recent Developments
- In March 2023, Polaris Inc. unveiled the RZR Pro R Factory, a specialized UT (Utility Terrain) vehicle specifically designed for competitive racing. This purpose-built vehicle has undergone meticulous engineering to deliver exceptional performance in demanding conditions encountered in open desert racing.
- In July 2023, Yamaha unveiled its 2024 Recreational and Utility ATV lineup, crafted to excel across various applications, spanning heavy-duty farm and ranch tasks to thrilling off-road escapades.
- In February 2024, CFMOTO has introduced two motorcycle models making their debut in the U.S., along with two ATV models. Among the newcomers is the CFORCE 800 Touring ATV, offering an affordable two-passenger trailblazing experience.
All-terrain Vehicle Key Market Trends
- Increasing Use of Advanced Technology Tool in Industry: One of the primary aspects driving the all-terrain vehicle market growth is a rising customer inclination for off-road recreational activities and adventure sports. Suppliers are now supplying ATVs with GPS tracking and Bluetooth communication technologies, improving the driving experience. Additionally, various technical improvements, such as creating electric quad bikes and installing enhanced steering systems, joystick controls, and graphic displays in ATVs, are also helping drive the industry forward. A significant expansion in the tourist industry, growing urbanization, and rising consumer expenditure capacity are some variables that have a beneficial influence on the market.
- Increasing Adoption of Electric All-Terrain Vehicles: One notable trend in the all-terrain vehicle market is the increasing adoption of electric motors. With increased environmental awareness and the need for more sustainable modes of travel, electric ATVs are becoming a staple in the market. These vehicles offer more advantages than conventional gas-powered ATVs, such as lower emissions, less noise pollution and lower maintenance, make it a more environmentally friendly alternative encounter.
All-terrain Vehicle Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
According to SkyQuest analysis, the increasing popularity of outdoor entertainment activities such as off-road sports, and the rising demand for all-terrain vehicles for military and agricultural applications are key factors driving the market growth. The demand for ATVs has witnessed a rise in the agricultural sector for various farm-related activities, such as weed control, general transportation, and animal handling. They are also used in applications such as manufacturing, construction, utilities, mining, and search & rescue. Several key companies are organizing adventure sports & off-road racing events and offering sponsorships to acquire new customers and increase product visibility. Asia Pacific is anticipated to see a considerable increase in demand for ATV over the forecast period.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 4.54 Billion |
| Market size value in 2031 | USD 6.35 Billion |
| Growth Rate | 3.8% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
To get a free trial access to our platform which is a one stop solution for all your data requirements for quicker decision making. This platform allows you to compare markets, competitors who are prominent in the market, and mega trends that are influencing the dynamics in the market. Also, get access to detailed SkyQuest exclusive matrix.
Buy The Complete Report to read the analyzed strategies adopted by the top vendors either to retain or gain market share
Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on All-terrain Vehicle Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on All-terrain Vehicle Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the All-terrain Vehicle Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the All-terrain Vehicle Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the All-terrain Vehicle Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the All-terrain Vehicle Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
USA (+1) 351-333-4748
