Global ATV and UTV Market Forecast : $18.6 Billion by 2031 with a CAGR of 7.3% | AMR

Allied Market Research published a report, titled, "ATV and UTV Market Size, Share, Competitive Landscape and Trend Analysis Report, by Vehicle Type, by Displacement, by Power Output, by Fuel Type, by End Use : Global Opportunity Analysis and Industry Forecast, 2022-2031."

The global ATV and UTV market size was valued at $9.4 billion in 2021, and is projected to reach $18.6 billion by 2031, growing at a CAGR of 7.3% from 2022 to 2031.

𝐆𝐞𝐭 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐑𝐞𝐩𝐨𝐫𝐭 𝐒𝐚𝐦𝐩𝐥𝐞 𝐏𝐚𝐠𝐞𝐬 : https://www.alliedmarketresearch.com/request-sample/5154

𝐓𝐡𝐞 𝐦𝐨𝐫𝐞 𝐭𝐡𝐚𝐧 𝟖𝟎𝟎 𝐂𝐂 𝐬𝐞𝐠𝐦𝐞𝐧𝐭 𝐭𝐨 𝐦𝐚𝐢𝐧𝐭𝐚𝐢𝐧 𝐢𝐭𝐬 𝐥𝐞𝐚𝐝𝐞𝐫𝐬𝐡𝐢𝐩 𝐬𝐭𝐚𝐭𝐮𝐬 𝐭𝐡𝐫𝐨𝐮𝐠𝐡𝐨𝐮𝐭 𝐭𝐡𝐞 𝐟𝐨𝐫𝐞𝐜𝐚𝐬𝐭 𝐩𝐞𝐫𝐢𝐨𝐝

Based on displacement, the more than 800 CC segment held the highest market share in 2021, accounting for more than two-fifths of the global ATV and UTV market revenue, owing to the fact that utility-focused UTVs with larger engine sizes above 800cc are becoming increasingly popular for commercial and industrial applications, such as farming, construction, and transportation. These vehicles are designed to handle heavy loads, rough terrains, and tough working conditions. However, the less than 400 CC segment is expected to portray the fastest CAGR of 8.7% during the forecast period.

𝐓𝐡𝐞 𝐔𝐓𝐕 𝐬𝐞𝐠𝐦𝐞𝐧𝐭 𝐠𝐚𝐫𝐧𝐞𝐫𝐞𝐝 𝐭𝐡𝐞 𝐦𝐚𝐣𝐨𝐫 𝐬𝐡𝐚𝐫𝐞 𝐢𝐧 𝟐𝟎𝟐𝟏

Based on vehicle type, the UTV segment held the highest market share in 2021, accounting for more than half of the global ATV and UTV market revenue. Meanwhile, ATV is estimated to maintain its leadership status throughout the forecast period and would cite the fastest CAGR of 8.8% from 2022 to 2031, due to the growing popularity of outdoor recreational activities such as off-roading, hunting, and racing is driving the demand for ATVs. Also, the development of new and advanced technologies, such as electric ATVs and all-terrain tires, is expected to boost the demand for ATVs. These technologies enhance the performance, efficiency, and safety of ATVs, making them more appealing to consumers.

𝐓𝐡𝐞 𝟓𝟎𝐤𝐖 𝐓𝐨 𝟏𝟎𝟎 𝐤𝐖 𝐬𝐞𝐠𝐦𝐞𝐧𝐭 𝐭𝐨 𝐦𝐚𝐢𝐧𝐭𝐚𝐢𝐧 𝐢𝐭𝐬 𝐥𝐞𝐚𝐝 𝐩𝐨𝐬𝐢𝐭𝐢𝐨𝐧 𝐝𝐮𝐫𝐢𝐧𝐠 𝐭𝐡𝐞 𝐟𝐨𝐫𝐞𝐜𝐚𝐬𝐭 𝐩𝐞𝐫𝐢𝐨𝐝

Based on power output, the 50kW To 100 kW segment accounted for the largest share in 2021, contributing to nearly two-fifths of the global ATV and UTV market revenue, as vin this power output range are popular among enthusiasts and consumers who require high-performance vehicles for off-road activities such as racing and extreme terrain riding. Manufacturers are investing in advanced technology and features to improve the performance and durability of these vehicles, such as high-performance suspension systems, advanced powertrains, and reinforced chassis. However, the above 100kW segment would display the fastest CAGR of 9.0% during the forecast timeframe.

𝐏𝐫𝐨𝐜𝐮𝐫𝐞 𝐂𝐨𝐦𝐩𝐥𝐞𝐭𝐞 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐑𝐞𝐩𝐨𝐫𝐭 𝐍𝐨𝐰 : https://www.alliedmarketresearch.com/atv-and-utv-market/purchase-options

𝐍𝐨𝐫𝐭𝐡 𝐀𝐦𝐞𝐫𝐢𝐜𝐚 𝐭𝐨 𝐦𝐚𝐢𝐧𝐭𝐚𝐢𝐧 𝐢𝐭𝐬 𝐝𝐨𝐦𝐢𝐧𝐚𝐧𝐜𝐞 𝐛𝐲 𝟐𝟎𝟑𝟏

Based on region, North America held the highest market share in terms of revenue in 2021, accounting for nearly half of the global ATV and UTV market revenue, owing to increase in demand for more advanced & efficient off road vehicles to be present across the region. However, the Europe region is expected to witness the fastest CAGR of 8.6% from 2022 to 2031, and is likely to dominate the market during the forecast period, owing to increased presence of numerous ORV manufacturing companies across the Europe.

𝐂𝐨𝐯𝐢𝐝-𝟏𝟗 𝐒𝐜𝐞𝐧𝐚𝐫𝐢𝐨 :

The COVID-19 pandemic had a significant impact on the global automotive industry, including the market for steer-by-wire systems.

The rapid spread of the virus had a major impact on the global automotive industry, and as demand for vehicles declines, it also impacts ATV and UTV industry.

The impact of current global economic conditions and market sentiment had a direct impact on the businesses of key players.

As 2021 progressed, it remained unclear whether the present high demand for ATVs and UTVs will continue.

The ability of manufacturers to address these challenges and opportunities effectively proved important during 2021.

𝐈𝐧𝐪𝐮𝐢𝐫𝐞 𝐁𝐞𝐟𝐨𝐫𝐞 𝐁𝐮𝐲𝐢𝐧𝐠 : https://www.alliedmarketresearch.com/purchase-enquiry/5154

𝐋𝐞𝐚𝐝𝐢𝐧𝐠 𝐌𝐚𝐫𝐤𝐞𝐭 𝐏𝐥𝐚𝐲𝐞𝐫𝐬 :

BRP
CFMOTO
DEERE AND COMPANY
HISUN
HONDA MOTOR CO., LTD.
KAWASAKI HEAVY INDUSTRIES
KUBOTA CORPORATION.
KWANG YANG MOTOR CO., LTD.
POLARIS INDUSTRIES, INC.
SUZUKI MOTOR CORPORATION
TEXTRON INC.
YAMAHA MOTOR CO LTD

The report provides a detailed analysis of these key players of the global ATV and UTV market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.

𝐑𝐞𝐚𝐝 𝐌𝐨𝐫𝐞 𝐑𝐞𝐩𝐨𝐫𝐭𝐬 :

Automotive Seat Climate Systems Market
https://www.alliedmarketresearch.com/automotive-seat-climate-systems-market

Truck Suspension System Market
https://www.alliedmarketresearch.com/truck-suspension-system-market-A12735

Automotive Carbon Fiber Market
https://www.alliedmarketresearch.com/automotive-carbon-fiber-market-A12796

Electric Cargo Bike Market
https://www.alliedmarketresearch.com/electric-cargo-bike-market-A08498

Truck Refrigeration Unit Market
https://www.alliedmarketresearch.com/truck-refrigeration-unit-market

𝐂𝐨𝐧𝐭𝐚𝐜𝐭 :

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