Global All-Terrain Vehicle (ATV) And Utility Task Vehicle (UTV) Market - Market Size, Drivers, Trends, And Competitors By 2032

As per The Business Research Company's All-Terrain Vehicle (ATV) And Utility Task Vehicle (UTV) Opportunities And Strategies Market Report 2023, The global all-terrain vehicle (ATV) and utility task vehicle (UTV) market reached a value of nearly $8,778.8 million in 2022, having grown at a compound annual growth rate (CAGR) of 5.0% since 2017. The market is expected to grow from $8,778.8 million in 2022 to $13,294.2 million in 2027 at a rate of 8.7%. The market is then expected to grow at a CAGR of 9.2% from 2027 and reach $20,678.9 million in 2032.

Government support is expected to drive the ATV and UTV market going forward. The governments of various countries are supporting the automotive sector to produce new solutions to better serve the industry. For example, in July 2022, the US Department of Energy (DOE) announced a $96 million funding opportunity to support decarbonizing the domestic transportation sector. The funding will focus on expanding electric vehicle (EV) charging accessibility, create cleaner non-road vehicles through electrification and the use of alternative fuels and develop electric drive components and materials to maximize EV efficiency and affordability. Also, in April 2022, Nagaland (India) government to promote the state as a destination for off-road travel started an initiative for the same, partnering with the extreme terrain travel pioneers Wander Beyond Boundaries (WBB).

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Companies in the ATV and UTV market are focusing on manufacturing electric ATVs and UTVs to reduce the fossil fuel consumption, noise and emissions. For example, in October 2022, CFMoto, a Chinese manufacturer of engines, motorcycles, all-terrain vehicles, quadricycles, quads and yachts, launched its new CForce EV110 electric ATV for kids. The CFMoto CForce EV110 features a 1,500W electric motor. Similar to other EVs, this ATV boasts linear acceleration and instantaneous torque, along with zero noise operation. Further, in February 2022, Barrus, a UK-based custom-engine builder, introduced the all-new HiSun lithium-ion powered electric UTV range into the UK, comprising four innovative models. The four power options are the HiSun 5 kW, 7.5 kW, 15 kW and a 4-seater 15 kW.

The top opportunities in the all-terrain vehicle (ATV) and utility task vehicle (UTV) market segmented by type will arise in the utility task vehicle (UTV) segment, which will gain $3,470.2 million of global annual sales by 2027. The top opportunities in the all-terrain vehicle (ATV) and utility task vehicle (UTV) market segmented by displacement will arise in the 400cc-800cc segment, which will gain $1,831.8 million of global annual sales by 2027. The top opportunities in the all-terrain vehicle (ATV) and utility task vehicle (UTV) market segmented by fuel types will arise in the fossil fuels segment, which will gain $3,664.4 million of global annual sales by 2027. The top opportunities in the all-terrain vehicle (ATV) and utility task vehicle (UTV) market segmented by end user will arise in the recreational segment, which will gain $1,831.9 million of global annual sales by 2027. The all-terrain vehicle (ATV) and utility task vehicle (UTV) market size will gain the most in the USA at $2,836.4 million.

All-Terrain Vehicle (ATV) And Utility Task Vehicle (UTV) Market Segmentation:
The all-terrain vehicle (ATV) and utility task vehicle (UTV) market is segmented by type, by displacement, by fuel types and by end user.
By Type -
a) All-Terrain Vehicle (ATV)
b) Utility Task Vehicle (UTV)

By Displacement-
a) Less Than 400cc
b) 400cc-800cc
c) More Than 800cc
d) Others

By Fuel Types-
a) Fossil Fuels
b) Electric
c) Solar

By End User-
a) Recreational
b) Sports
c) Agriculture And Utility
d) Military And Defense
e) Other End-Users

By Geography -
North America was the largest region in the all-terrain vehicle (ATV) and utility task vehicle (UTV) market

Major players in the All-Terrain Vehicle (ATV) And Utility Task Vehicle (UTV) market include Polaris Inc., Yamaha Motor Co., Ltd., Kawasaki Heavy Industries Ltd., Bombardier Recreational Products (BRP) Inc., Zhejiang Chunfeng Power Co., Ltd. (CFMoto).

The regions covered in the global All-Terrain Vehicle (ATV) And Utility Task Vehicle (UTV) market are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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The latest report from The Business Research Company, 'Global All-Terrain Vehicle (ATV) And Utility Task Vehicle (UTV) Opportunities And Strategies Market Report - Forecast To 2032,' provides a comprehensive global perspective with data and statistics from 60+ geographies, analyzing 7000+ market segments. The regional and country breakdowns section offers insights into each geography's market analysis, size, historic and forecast growth, and key strategies for industry competitiveness.

All-Terrain Vehicle (ATV) And Utility Task Vehicle (UTV) Market Report Table Of Content
1. Executive Summary
2. Table Of Contents
3. List Of Figures
4. List Of Tables
5. Report Structure
6. Introduction and Market Characteristics
…………………………………
18. Competitive Landscape And Company Profiles
19. Key Mergers and Acquisitions
20. Opportunities And Strategies
21. All-Terrain Vehicle (ATV) And Utility Task Vehicle (UTV) Market, Conclusions And Recommendations
22. Appendix

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