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The Global All-Terrain Vehicle (ATV) Market size is estimated to grow by USD 1,660.92 million between 2022 and 2027 accelerating at a CAGR of 7.59%.
ATVs are in high demand globally due to their ability to navigate difficult terrain like mountains and forests quickly. Countries like Australia, the US, Germany, and India are using ATVs for farming, reducing labor costs. ATVs are also popular for recreational and adventure activities like off-roading, mountain racing, and dirt racing. The military also uses ATVs for transportation in remote areas. North America and Europe dominate the ATV market due to their popularity for sports and off-road activities, and related associations that promote ATV use. The use of ATVs by defense forces has also increased globally, driving the market's growth.
This all-terrain vehicle (ATV) market research report extensively covers market segmentation by engine capacity (400cc-800cc, below 400cc, and above 800cc), application (recreational, sports, agriculture, and military and defense), and geography (North America, Europe, APAC, Middle East and Africa, and South America). It also includes an in-depth analysis of drivers, trends, and challenges.
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Our researchers analyzed the data with 2022 as the base year and the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
Rising demand for ATVs is driving the ATV market growth. ATVs, or quad bikes/quadricycles, are designed with a low seat and off-highway tires to ride over various terrains inaccessible to other vehicles. With the rise in recreational off-roading activities, ATV production has increased, and they are also used for transportation in large farmlands. While North America and Europe dominate the global ATV market, emerging markets like India and China have seen a surge in demand due to increasing awareness and entrance of new ATV OEMs. The growing popularity of off-road adventure events and activities among enthusiasts in APAC is also contributing to ATV sales. The US, already a market leader in ATV demand, is witnessing increased investments in recreational activities, which will boost the growth of the global ATV market in the forecast period.
Prominent ATV manufacturers are conducting activities and events to promote ATVs and creating dedicated experience zones to increase product demand. They are expanding their dealership networks in North America and Europe and focusing on developing Asian economies. Polaris Inc. is developing Polaris Experience Zones (PEZs) in countries like the US, Germany, and India, which provide riders with a real-life off-roading experience and promote visibility of ATVs among consumers. Land allocation and environmental sanction by governments for the development of experience zones play a major role in the growth of the market. Recreational activities and sporting events in the UAE are expected to increase ATV sales and fuel the growth of the global ATV market.
The demand for off-road vehicles, particularly ATVs, is increasing due to the popularity of recreational activities. However, legal restrictions pose a challenge to their adoption in many cities worldwide. For example, in New York City, the use of ATVs, dirt bikes, and other high-performance off-road vehicles is banned in public spaces. Despite this, the US has permitted the use of ATVs on public roads in some states such as Wisconsin and Ohio. Similarly, in the UK, ATVs can only be driven on the road if they are registered, taxed, and approved by the Ministry of Transport, and the driver has a Category B1 or a full car license and insurance. These regulations may hinder the growth of the global ATV market during the forecast period.
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The market share growth by the 400cc-800cc segment will be significant during the forecast period. There is a wide range of terrain vehicles that comes under the 400cc-800cc segment, which is heavier compared to below 400cc terrain bikes. Such terrain bikes are more powerful and are designed for more rough terrains. All-terrain bikes with engine capacity of 400cc-800cc have been widely used in the army, the marines, and the special operations command. ATVs provide individuals with all-terrain mobility to deploy special operations forces in harsh environments and across a variety of special operations missions.
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The 400cc-800cc segment shows a gradual increase in the market share of USD 1,410.33 million in 2017 and continue to grow by 2021. Sport ATVs are a lot of fun for drivers looking for adrenaline rushes, but ATVs made and utilized for practical purposes have begun to gain popularity. On the other hand, utility ATVs are designed specifically to be simpler to tow and tote. They are often highly practical and built to tackle a variety of terrains. ATVs used by military personnel have more adaptable designs and are constructed in a way that allows them to give users the responsiveness and mobility they require. Thus, ATVs with 400cc-800cc have all these features, which increase their demand from the military and other special operation forces and can also be used in adventure sports. Such factors will boost the growth of the 400cc-800cc segment of the global ATV market during the forecast period.
Recreational activities are essential for stress management and overall wellbeing. ATVs, designed for off-road use, are ideal for leisure activities. Electric quad bikes can be used to relax and feel happy, improving motivation and confidence. Tourist destinations such as Dubai offer quad safaris for adventurous travelers. The COVID-19 pandemic has highlighted the importance of recreational activities, with a 20% increase in outdoor activities in the US in 2021. The growing tourism industry and popularity of quad bikes will drive the growth of the recreational segment in the global ATV market.
North America is estimated to contribute 56% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.
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North American countries such as Canada and the US are the major revenue-generating countries for ATVs. The high popularity of and demand for off-road vehicles such as ATVs in the US and Canada have contributed to regional market share. In addition, the presence of numerous off-road adventure activities in North America has also played an important role in driving the popularity and sales of ATVs. Another factor that supports the growth of the market in these countries is the introduction of ATVs with automatic transmission systems by various vendors.
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This all-terrain vehicle (ATV) market report forecasts the contribution of all the segments to the growth of the market. In addition, we have included the COVID-19 impact and the recovery strategies for each segment in North America. However, the adoption of digital technologies in supply chain operations and the increasing trend of online shopping are further expected to drive the growth of the regional ATV market during the forecast period. Also, the adoption of smart manufacturing, increasing adoption of digital technologies in supply chain operations, and government initiatives to revive the growth of the regional economy will foster the growth of the regional ATV market during the forecast period.
Vendors are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the All-terrain Vehicle Market. One of the major vendor in the market include:
Bombardier Recreational Products Inc.:The company offers all-terrain vehicles such as snowmobiles
The report also includes detailed analyses of the competitive landscape of the market and information about 15 market vendors, including:
Qualitative and quantitative analysis of vendors has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize vendors as pure play, category-focused, industry-focused, and diversified. Furthermore, it is also quantitatively analyzed to categorize vendors as dominant, leading, strong, tentative, and weak.
The all-terrain vehicle (ATV) market research report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
All-terrain Vehicle Market Scope |
|
Report Coverage |
Details |
Page number |
175 |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 7.59% |
Market growth 2023-2027 |
USD 1,660.92 million |
Market structure |
Fragmented |
YoY growth 2022-2023(%) |
7.24 |
Regional analysis |
North America, Europe, APAC, Middle East and Africa, and South America |
Performing market contribution |
North America at 56% |
Key countries |
US, Canada, Australia, Germany, and France |
Competitive landscape |
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
Key companies profiled |
BMS Motorsports Inc., Bombardier Recreational Products Inc., HISUN Motors Corp., Honda Motor Co. Ltd, Kayo USA, Kubota Corp., Massimo Motor Sports LLC, Nebula Automotive Pvt. Ltd., Polaris Inc., SHERP, Suzuki Motor Corp., Taiwan Golden Bee Co. Ltd., Tao Motor Inc., Textron Inc., TOMCAR, Yamaha Motor Co. Ltd., Mahindra and Mahindra Ltd., Kawasaki Heavy Industries Ltd., and ZHEJIANG CFMOTO POWER Co. Ltd. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this report to meet your requirements. Get in touch
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Engine Capacity
7 Market Segmentation by Application
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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