All-Terrain Vehicle (ATV) and Utility Task Vehicle (UTV) Market

Global All-Terrain Vehicle (ATV) and Utility Task Vehicle (UTV) Market Size & Growth:

All-terrain vehicles and utility task vehicles market is witnessed to have a steady pace over the forecast period and the market generated USD 9.1 billion in 2017 and is anticipated to grow at a CAGR of 7.9 % during the forecast period. 

All-terrain vehicle and utility task vehicles though used for the same purposes, but are completely different in the operational systems.

The global ATV and UTV market is influenced by growing recreational off-road projects such as racing and sports. The increasing consumer disposable income and increasing living models boost the bulk of the market. Advancement of technologically superior vehicles with upgraded production and efficiency raises the demand for these vehicles. The burgeoning search for games and adventure activities encourage the bulk of the market. The request from the security, agriculture, and mining sectors has developed, further boosting the market development. Supportive initiatives from governments and private companies to promote sports activities have stimulated the adoption of these vehicles across the globe.

What are the All-Terrain Vehicles and Utility Task Vehicles?

The All-Terrain Vehicle is an open mobile tricycle or quadricycle bike designed for off-road use. ATV is constructed for recreational and games studies hill climbing and dirt-track. That is practiced in remote mountains and uneven terrains. Both are ideal for engaging in conditions such as riverbanks, snow, mountains, and forests among others. ATVs are commonly employed in forms such as special services in adventure sports, inhabitable land, and research missions. Utility business vehicles (UTV), also recognized as step-to-step, are powered through IC generators or electric motors. People are intelligent in commuting over rugged territories and are supported with the aid of steering. UTVs can combine a couple or more personalities along with distinct loads and are utilized in applications such as mining, farming, and rescue.

The all-terrain vehicles are most widely seen in the sports sector, which provides safety and a comfortable ride. The growing prevalence of sports activities across the world and increasing popularity of the vehicles with safety is majorly propelling the growth of the market. The rise in awareness and growing safety concerns is developing demand from the end-users, which will create growth opportunities in the market.

The growing prevalence of sports activities across the world and increasing popularity of the vehicles with safety is majorly propelling the growth of the market. The stringent rule and regulations by the government are also developing a huge demand for the all-terrain vehicle and utility task vehicle market.

However, the cost of these vehicles is very high and cannot be affordable by common people, which is slightly hindering the growth of the market. The violations in legal rule by the manufacturers, where these vehicles are not getting approvals to run on the on-road basis remained an as challenging factor in the market.

The rise in awareness and growing safety concerns is developing demand from the end-users, which is anticipated to have growth opportunities in the market. As these vehicles can use in chubby terrains also, the demand for these vehicles in agriculture is very beneficial for the farmers to yield better production is also a chance for the market to grow.

Regional Analysis:

North America is expected to lead with the highest revenue shares, owing to the launch of advanced features vehicles and also considering environmental safety measures. The Asia Pacific is also witnessed to hold the dominant shares of the market with increased government policies and also awareness of the advantages of these vehicles in farming.

Few of the leading companies dominating the Market profiled in the report are:

1. Caterpillar Inc.
2. Kubota Corporation
3. Hisun Motors
4. Yamaha Motors
5. Deere & Company
6. Honda Motors Co. Ltd
7. Kawasaki Heavy Industries Motorcycle and Engine Company
8. Bobcat Company
9. Polaris Industries
10. Bombardier Recreational Products

This research report includes the following segmentation for the All-Terrain Vehicle (ATV) and Utility Task Vehicle (UTV) Market size and forecast 2026

All-Terrain Vehicle (ATV) and Utility Task Vehicle (UTV) Market - By Type:

• Sport-All Terrain Vehicle
• Sport Utility Terrain Vehicles
• Utility All-Terrain Vehicles
• Others

All-Terrain Vehicle (ATV) and Utility Task Vehicle (UTV) Market - By Application:

• Sports
• Mining
• Agriculture
• Defense
• Entertainment
• Others

All-Terrain Vehicle (ATV) and Utility Task Vehicle (UTV) Market – By Region

• North America                                                

  • United States                               
  • Canada                                         

• Europe                                                                                  

  • United Kingdom                                           
  • Germany                                      
  • France                                          
  • Italy                               
  • Spain                                             

• Asia-Pacific                                                     

  • China                                            
  • India                                             
  • Japan                                            
  • South Korea                                 

• Latin America                                                                             

  • Brazil                                            
  • Argentina                                     
  • Mexico                                          

• Middle-East & Africa                                                      

  • Middle-East
  • Africa