North America Youth ATV & UTV Market Regional Trends & Revenue To 2024 | Companies - Yamaha Motor Corporation, Suzuki Motor of America, Polaris Industries, Kawasaki Motors Corp., U.S.A., American Honda Motor, BRP

North America Youth ATV & UTV Market size is estimated to surpass USD 383 million by 2024; according to a new research report by Global Market Insights, Inc. Increasing recreational spending along with the rising number of off-roading events are driving the North America youth ATV & UTV market share over the forecast timeframe. Increasing preference of youth to opt for adventure off-roading events including participation in several ATV and UTV races owing to the availability of diversified models at varied price range are supporting the business growth.

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The gasoline segment dominated the North America youth ATV & UTV market size with a revenue share of over 90%. This can be credited to the availability of diversified engine options with varied power, torque, and cubic capacities. Further, the availability of a vast network of fuel stations will positively influence the business growth till 2024.

The youth ATV segment accounted for over 80% volume share in 2017. This dominance can be attributed to the availability of diversified youth ATV & UTV model range at varied price range. The ability to travel through any terrain along with the compact footprint and easier parking & towing facilities will further strengthen the segment dominance over the forecast timeframe.

Company profiled in this report based on Business overview, Financial data, Product landscape, Strategic outlook & SWOT analysis:

1. All Wheels Canada
2. Apex ATV Racing
3. Apollo Motors
4. Arctic Cat
5. Bintelli Offroad
6. BMS Motors
7. Bombardier Recreational Products
8. DRR USA Inc.
9. Hisun Motors
10. Honda Motors
11. Kawasaki Motors Corporation
12. KYMCO
13. Mademoto
14. Massimo Motor Sports
15. Polaris Industries
16. Rosso Motors
17. SSR Motorsports
18. Suzuki Motor Corporation
19. Tomride
20. USA Motortoys
21. Venom Motorsports
22. Yamaha Motor Corporation

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The electric vehicle segment will showcase an 8% CAGR over the study timeframe owing to the benefits offered by these vehicles compared to the gasoline engines including no engine noise, lower carbon emissions, enhanced efficiency, and lower operating and maintenance costs. The significantly high power and torque outputs from such vehicles will further support the business growth till 2024.

The youth UTV segment will grow significantly at 6% CAGR from 2018 to 2024 owing to the availability of standard safety equipment compared to the ATVs including a roll cage, seatbelts, and windshield. Further, the ability to accommodate multiple passengers further propels the North America youth ATV & UTV revenue generation over the projected timeframe.

The U.S. youth ATV & UTV market will account for the maximum volume share of around 90% by 2024. This can be credited to the increasing recreational participation and the presence of multiple off-road trails in the country. The Pennsylvania state will showcase 5% CAGR from 2018 to 2024 owing to the presence of a vast network of trails that are maintained by the Pennsylvania Department of Conservation and Natural Resources.

The Ontario state in Canada accounted for the maximum volume and revenue share in 2017. This dominance is attributed to the presence of multiple clubs promoting the construction of sustainable, safe, and legal trails across the province. The proliferating off-roads events organized by the Ontario Federation of ATV clubs further strengthens the North America youth ATV & UTV market share over the forecast timeframe.

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The prominent players in the North America youth ATV & UTV marketplace include BRP, Arctic Cat, KYMCO, Polaris Industries, Honda Motors, Suzuki Motor Corporation, and Yamaha Motor Corporation. Other notable players include Hisun Motors, Kawasaki Motors Corporation, Apex ATV Racing, DRR USA, Massimo Motorsports, SSR Motorsports, and Venom Motorsports. Industry participants are actively involved in introducing technological features to differentiate their portfolio. For instance, in 2018, Arctic Cat introduced the upgraded DVX 90 model with fully independent front suspension for enhancing comfort while off-roading.

About Global Market Insights:

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

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This release was published on openPR.