ATV and UTV Market Size, Share and Industry Forecast 2025 with Key Players Polaris Industries, Inc., Deere & Company., Kawasaki Motors Corp., U.S.A., Yamaha Motor Co., Ltd., ARCTIC CAT INC., Honda Motor Company and More.
At present, North America dominates the market, followed by Asia-Pacific, Europe, and LAMEA. U.S. dominated the global ATV & UTV market in 2017, whereas Middle East is expected to grow at a significant growth rate in LAMEA during the forecast period.
Factors such as increase in trend of adventure sports and recreational activities and adoption of ATV and UTV in military activities fuel the growth of the ATV and UTV market. In addition, government rules to support driving ATVs and UTVs on road boosts the market growth. However, ban on ATV and UTV driving in wildlife area due to terrain damage and high maintenance cost of ATVs and UTVs hinder the market growth. Moreover, production of safer ATVs and UTVs is anticipated to provide remunerative opportunities for the expansion of the market.
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In 2017, by vehicle type, the ATV dominated the global ATV & UTV market, in terms of revenue. In addition, based on displacement, the 400‐“800 (CC) segment generated the highest revenue. By fuel type, the gasoline segment is expected to maintain the lead throughout the forecast period. Based on application, the sports segment has the highest contribution in ATV whereas the utility segment has highest contribution in the revenue for UTV. By end-user vertical, the mountaineering segment has the highest revenue globally. At present, North America is the highest revenue contributor and is expected to garner the highest revenue in the global market during the forecast period, followed by Asia-Pacific, Europe, and LAMEA.
The key players analyzed in this report are Polaris Industries, Inc., Deere & Company., Kawasaki Motors Corp., U.S.A., Yamaha Motor Co., Ltd., ARCTIC CAT INC., Honda Motor Company, BRP, HISUN, KYMCO, and Suzuki.
Increase in trend of adventure sports and recreational activities
In recent days, tourists are majorly attracted toward the ATV and UTV trails and the related recreational activities. Many tourism councils introduce ATV and UTV related activities by building tracks for these vehicles to attract and retain visitors. For instance, UTV takeover in Coos Bay is an upcoming popular event that takes place on Box Car Hill Campground just outside Coos Bay. This increase in trend for adventure sports attracts the tourists and propels the growth of the ATV and UTV market.
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Rise in demand of ATV and UTV in military activities
There is an increase in the demand for ATV and UTV for military activities such as transportation of troops, driving on difficult terrain, and others. For instance, there is a rise in demand for new ATW in the U.S. Army as the ATV is capable of transporting troops on battlefield, is able to carry nine fully-armed soldiers, is able to work after being pushed out of an airplane, and features speed of 55 mph. This requirement of ATV and UTV from military organizations drives the growth of the market. In addition, LATVia received Sportsman Big Boss and MRZR, 2 ATVs and UTVs from U.S. based company Polaris Government & Defense and it is expected that these Polaris vehicles are to be delivered in year 2020 for defense purpose as part of US government program. Thus, rise in demand for ATVs and UTVs from military troops drives the growth of the ATV and UTV market.
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