All-terrain Vehicle Market by Type and Geography - Forecast and Analysis 2021-2025
- Published: Sep 2021
- Pages: 120
- SKU: IRTNTR71075
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The all-terrain vehicle (ATV) market share is expected to increase by 998.95 thousand units from 2020 to 2025, and the market’s growth momentum will accelerate at a CAGR of 16.83%.
This all-terrain vehicle market research report extensively covers all-terrain vehicle market segmentation by type (sports ATV, utility ATV, and snowmobiles) and geography (North America, Europe, APAC, MEA, and South America). The all-terrain vehicle market report also offers information on several market vendors, including Bombardier Recreational Products Inc., HISUN Motors Corp., Honda Motor Co. Ltd., Kawasaki Heavy Industries Ltd., Nebula Automotive Pvt. Ltd., Polaris Inc., Suzuki Motor Corp., Taiwan Golden Bee Co. Ltd., Textron Inc., and Yamaha Motor Co. Ltd. among others.
What will the All-terrain Vehicle Market Size be During the Forecast Period?
Download the Free Report Sample to Unlock the All-terrain Vehicle Market Size for the Forecast Period and Other Important Statistics
All-terrain Vehicle Market: Key Drivers, Trends, and Challenges
The growing use of ATVs in recreational, sports, and military applications is notably driving the ATV market growth, although factors such as environmental concerns due to the use of ATVs may impede market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the all-terrain vehicle industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Key All-terrain Vehicle Market Driver
The growing use of ATVs in recreational, sports, and military applications will fuel the growth of the all-terrain vehicle market size. The global all-terrain vehicles market is experiencing increased demand because of the ability of ATVs to move quickly in mountainous and rocky terrain. The preference for recreational activities and adventure among consumers globally, especially among tourists, is growing each passing year. These activities include off-roading, mountain racing, and dirt racing, where ATVs have wide applications. The use of ATVs for military purposes has increased, where these vehicles are used extensively for transportation purposes to remote areas. Currently, countries in North America and Europe dominate the global ATV market as sports and off-road activities are highly popular in these regions.
Key All-terrain Vehicle Market Trend
To increase the awareness and popularity of ATVs among consumers, several prominent ATV manufacturers have been conducting activities and events to promote ATVs. Toward this goal, manufacturers are coming up with dedicated experience zones, which can create higher product demand. Prominent ATV manufacturers are promoting the popularity of ATVs among consumers through awareness activities. Land allocation by governments for the development of experience zones and sanction from environmental bodies also play a major role. In the US, various states have sanctioned land to develop ATV riding circuits while considering the impact of the activities on the environment and the disturbance of civilians in the allocated areas. These factors are expected to support the growth of the market in focus over the forecast period. Hence, the increase in specially dedicated ATV experience zones acts as an indirect driver for the market in focus.
Key All-terrain Vehicle Market Challenge
ATVs are designed to aid in easy transportation on rough terrain and uneven off-road surfaces. However, their off-roading capabilities have adverse effects on the environment, which is challenging the growth of the market. According to biologists, the use of ATVs and other off-highway vehicles can damage the characteristics of the soil on which they are driven. This is because riding ATVs can lead to soil erosion and increase the bulk density, strength, and permeability of the soil. Such detrimental effects of off-highway vehicles, including ATVs, have been proven by environmentalists. Moreover, behavioral changes and physiological responses in wild animals due to off-road activities are impacting the entire wildlife population. Scientists further claim that growth in off-road activities increases wildlife mortality rates. Therefore, such environmental factors pose a challenge to the growth of the market.
This all-terrain vehicle market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2021-2025.
Parent Market Analysis
The growth of the global leisure products market will be driven by factors such as growing memberships in health and fitness clubs, an increase in awareness about the benefits of a healthy lifestyle, and a rising number of dual-income households. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the all-terrain vehicle market during the forecast period.
Who are the Major All-terrain Vehicle Market Vendors?
The report analyzes the market’s competitive landscape and offers information on several market vendors, including:
- Bombardier Recreational Products Inc.
- HISUN Motors Corp.
- Honda Motor Co. Ltd.
- Kawasaki Heavy Industries Ltd.
- Nebula Automotive Pvt. Ltd.
- Polaris Inc.
- Suzuki Motor Corp.
- Taiwan Golden Bee Co. Ltd.
- Textron Inc.
- Yamaha Motor Co. Ltd.
This statistical study of the all-terrain vehicle market encompasses successful business strategies deployed by the key vendors. The ATV market is concentrated and the vendors are distinguishing their products and service offerings either through product differentiation or through cost differentiation to compete in the market.
Product Insights and News
- Honda Motor Co. Ltd. - The company offers ATVs that have a semi-dry sump design which creates an engine that is shorter from top to bottom that enhances handling by lowering the engine's center of gravity and allowing for greater ground clearance, under the brand name of Honda.
To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The all-terrain vehicle market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
All-terrain Vehicle Market Value Chain Analysis
Our report provides extensive information on the value chain analysis for the all-terrain vehicle market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chains is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.
Which are the Key Regions for All-terrain Vehicle Market?
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81% of the market’s growth will originate from North America during the forecast period. The US and Canada are the key markets for all-terrain vehicles in North America. Market growth in North America will be faster than the growth of the market in other regions.
The high popularity of and demand for off-road vehicles such as ATVs in the US and Canada will facilitate the all-terrain vehicle market growth in North America over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.
COVID Impact and Recovery Analysis
The outbreak of the novel coronavirus disease (COVID-19) in 2020 has had a drastic impact on the economy of the US. It has led to the shutdown of many companies and industries as the disease also spread through community transmission and led to several thousands of deaths in 2020. There has been an increase in demand for ATVs, which remained unmet due to company shutdowns. The pandemic also had a negative impact on motorsports events, as they had to be canceled or postponed and led to a decline in the demand for ATVs in 2020. However, most motorsports events resumed in 2021, which will boost the demand for ATVs. Thus, the ATV market is expected to grow in the region during the forecast period.
What are the Revenue-generating Type Segments in the All-terrain Vehicle Market?
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The all-terrain vehicle market share growth by the sports ATV segment will be significant during the forecast period. The increase in off-road recreational activities is driving the ATV market for sports. The increase in the number of sports enthusiasts driving ATVs and the development of ATV experience zones will have a positive impact on this market segment. Polaris is developing experience zones globally in countries like the US, Canada, and India. Polaris is also considering the online sales of ATVs. Polaris has approached companies like Snapdeal and other prominent e-commerce companies in this regard. The company is spending on the digital marketing of its ATVs to acquire more customers.
This report provides an accurate prediction of the contribution of all the segments to the growth of the ATV market size and actionable market insights on post COVID-19 impact on each segment.
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All-terrain Vehicle Market Scope |
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Report Coverage |
Details |
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Page number |
120 |
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Base year |
2020 |
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Forecast period |
2021-2025 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 16.83% |
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Market growth 2021-2025 |
998.95 thousand units |
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Market structure |
Concentrated |
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YoY growth (%) |
14.54 |
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Regional analysis |
North America, Europe, APAC, MEA, and South America |
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Performing market contribution |
North America at 81% |
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Key consumer countries |
US, Germany, Australia, France, and Canada |
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Competitive landscape |
Leading companies, Competitive strategies, Consumer engagement scope |
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Key companies profiled |
BMS Motorsports Inc. , Bombardier Recreational Products Inc., CECTEK, HISUN Motors Corp., Honda Motor Co. Ltd., Kawasaki Heavy Industries Ltd., Kayo USA, Kubota Corp., KWANG YANG MOTOR Co. Ltd., Massimo Motor Sports LLC, Nebula Automotive Pvt. Ltd., Polaris Inc., SHERP, Suzuki Motor Corp., Taiwan Golden Bee Co. Ltd., Textron Inc., TOMCAR, Yamaha Motor Co. Ltd., and ZHEJIANG CFMOTO POWER Co. Ltd. |
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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 the forecast period |
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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. |
What are the Key Data Covered in this All-terrain Vehicle Market Report?
- CAGR of the market during the forecast period 2021-2025
- Detailed information on factors that will drive all-terrain vehicle market growth during the next five years
- Precise estimation of the all-terrain vehicle market size and its contribution to the parent market
- Accurate predictions on upcoming trends and changes in consumer behavior
- The growth of the ATV industry across North America, Europe, APAC, MEA, and South America
- A thorough analysis of the market’s competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of ATV market vendors
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1. Executive Summary
2. Market Landscape
2.1 Market ecosystem
Exhibit 01: Parent market
Exhibit 02: Market Characteristics
2.2 Value chain analysis
Exhibit 03: Value chain analysis: Leisure products
2.2.1 Inputs
2.2.2 Inbound logistics
2.2.3 Operations
2.2.4 Outbound logistics
2.2.5 Marketing and sales
2.2.6 Service
3. Market Sizing
3.1 Market definition
Exhibit 04: Offerings of vendors included in the market definition
3.2 Market segment analysis
Exhibit 05: Market segments
3.3 Market size 2020
3.4 Market outlook: Forecast for 2020 - 2025
3.4.1 Estimating growth rates for emerging and high-growth markets
3.4.2 Estimating growth rates for mature markets
Exhibit 06: Global - Market size and forecast 2020 - 2025 (thousand units)
Exhibit 07: Global market: Year-over-year growth 2020 - 2025 (%)
4. Five Forces Analysis
4.1 Five Forces Summary
Exhibit 08: Five forces analysis 2020 & 2025
4.2 Bargaining power of buyers
Exhibit 09: Bargaining power of buyers
4.3 Bargaining power of suppliers
Exhibit 10: Bargaining power of suppliers
4.4 Threat of new entrants
Exhibit 11: Threat of new entrants
4.5 Threat of substitutes
Exhibit 12: Threat of substitutes
4.6 Threat of rivalry
Exhibit 13: Threat of rivalry
4.7 Market condition
Exhibit 14: Market condition - Five forces 2020
5. Market Segmentation by Type
5.1 Market segments
The segments covered in this chapter are:
- Sports ATV
- Utility ATV
- Snowmobiles
Exhibit 15: Type - Market share 2020-2025 (%)
5.2 Comparison by Type
Exhibit 16: Comparison by Type
5.3 Sports ATV - Market size and forecast 2020-2025
Exhibit 17: Sports ATV - Market size and forecast 2020-2025 (thousand units)
Exhibit 18: Sports ATV - Year-over-year growth 2020-2025 (%)
5.4 Utility ATV - Market size and forecast 2020-2025
Exhibit 19: Utility ATV - Market size and forecast 2020-2025 (thousand units)
Exhibit 20: Utility ATV - Year-over-year growth 2020-2025 (%)
5.5 Snowmobiles - Market size and forecast 2020-2025
Exhibit 21: Snowmobiles - Market size and forecast 2020-2025 (thousand units)
Exhibit 22: Snowmobiles - Year-over-year growth 2020-2025 (%)
5.6 Market opportunity by Type
Exhibit 23: Market opportunity by Type
6. Customer landscape
6.1 Overview
Exhibit 24: Customer landscape
7. Geographic Landscape
7.1 Geographic segmentation
The regions covered in the report are:
- North America
- Europe
- APAC
- MEA
- South America
Exhibit 25: Market share by geography 2020-2025 (%)
7.2 Geographic comparison
Exhibit 26: Geographic comparison
7.3 North America - Market size and forecast 2020-2025
Exhibit 27: North America - Market size and forecast 2020-2025 (thousand units)
Exhibit 28: North America - Year-over-year growth 2020-2025 (%)
7.4 Europe - Market size and forecast 2020-2025
Exhibit 29: Europe - Market size and forecast 2020-2025 (thousand units)
Exhibit 30: Europe - Year-over-year growth 2020-2025 (%)
7.5 APAC - Market size and forecast 2020-2025
Exhibit 31: APAC - Market size and forecast 2020-2025 (thousand units)
Exhibit 32: APAC - Year-over-year growth 2020-2025 (%)
7.6 MEA - Market size and forecast 2020-2025
Exhibit 33: MEA - Market size and forecast 2020-2025 (thousand units)
Exhibit 34: MEA - Year-over-year growth 2020-2025 (%)
7.7 South America - Market size and forecast 2020-2025
Exhibit 35: South America - Market size and forecast 2020-2025 (thousand units)
Exhibit 36: South America - Year-over-year growth 2020-2025 (%)
7.8 Key leading countries
Exhibit 37: Key leading countries
7.9 Market opportunity by geography
Exhibit 38: Market opportunity by geography (thousand units)
8. Drivers, Challenges, and Trends
8.1 Market drivers
8.1.1 Growing use of ATVs in recreational, sports, and military applications
8.1.2 Increasing demand for ATVs for recreational and adventurous sports activities
8.1.3 Rising demand for ATVs
8.2 Market challenges
8.2.1 Environmental concerns due to the use of ATVs
8.2.2 Legal limitations associated with the use of off-road vehicles
8.2.3 Lack of global acceptance as a street-legal vehicle
Exhibit 39: Impact of drivers and challenges
8.3 Market trends
8.3.1 Increasing number of ATV experience zones
8.3.2 Growing penetration of CVT systems in ATVs
8.3.3 Advances in autonomous ATVs
9. Vendor Landscape
9.1 Overview
Exhibit 40: Vendor landscape
9.2 Landscape disruption
Exhibit 41: Landscape disruption
Exhibit 42: Industry risks
10. Vendor Analysis
10.1 Vendors covered
Exhibit 43: Vendors covered
10.2 Market positioning of vendors
Exhibit 44: Market positioning of vendors
10.3 Bombardier Recreational Products Inc.
Exhibit 45: Bombardier Recreational Products Inc. - Overview
Exhibit 46: Bombardier Recreational Products Inc. - Business segments
Exhibit 47: Bombardier Recreational Products Inc. - Key news
Exhibit 48: Bombardier Recreational Products Inc. - Key offerings
Exhibit 49: Bombardier Recreational Products Inc. - Segment focus
10.4 HISUN Motors Corp.
Exhibit 50: HISUN Motors Corp. - Overview
Exhibit 51: HISUN Motors Corp. - Product and service
Exhibit 52: HISUN Motors Corp. - Key offerings
10.5 Honda Motor Co. Ltd.
Exhibit 53: Honda Motor Co. Ltd. - Overview
Exhibit 54: Honda Motor Co. Ltd. - Business segments
Exhibit55: Honda Motor Co. Ltd. - Key news
Exhibit 56: Honda Motor Co. Ltd. - Key offerings
Exhibit 57: Honda Motor Co. Ltd. - Segment focus
10.6 Kawasaki Heavy Industries Ltd.
Exhibit 58: Kawasaki Heavy Industries Ltd. - Overview
Exhibit 59: Kawasaki Heavy Industries Ltd. - Business segments
Exhibit 60: Kawasaki Heavy Industries Ltd. - Key news
Exhibit 61: Kawasaki Heavy Industries Ltd. - Key offerings
Exhibit 62: Kawasaki Heavy Industries Ltd. - Segment focus
10.7 Nebula Automotive Pvt. Ltd.
Exhibit 63: Nebula Automotive Pvt. Ltd. - Overview
Exhibit 64: Nebula Automotive Pvt. Ltd. - Product and service
Exhibit 65: Nebula Automotive Pvt. Ltd. - Key offerings
10.8 Polaris Inc.
Exhibit 66: Polaris Inc. - Overview
Exhibit 67: Polaris Inc. - Business segments
Exhibit 68: Polaris Inc. - Key news
Exhibit 69: Polaris Inc. - Key offerings
Exhibit 70: Polaris Inc. - Segment focus
10.9 Suzuki Motor Corp.
Exhibit 71: Suzuki Motor Corp. - Overview
Exhibit 72: Suzuki Motor Corp. - Business segments
Exhibit 73: Suzuki Motor Corp. - Key news
Exhibit 74: Suzuki Motor Corp. - Key offerings
Exhibit 75: Suzuki Motor Corp. - Segment focus
10.10 Taiwan Golden Bee Co. Ltd.
Exhibit 76: Taiwan Golden Bee Co. Ltd. - Overview
Exhibit 77: Taiwan Golden Bee Co. Ltd. - Product and service
Exhibit 78: Taiwan Golden Bee Co. Ltd. - Key offerings
10.11 Textron Inc.
Exhibit 79: Textron Inc. - Overview
Exhibit 80: Textron Inc. - Business segments
Exhibit 81: Textron Inc. - Key news
Exhibit 82: Textron Inc. - Key offerings
Exhibit 83: Textron Inc. - Segment focus
10.12 Yamaha Motor Co. Ltd.
Exhibit 84: Yamaha Motor Co. Ltd. - Overview
Exhibit 85: Yamaha Motor Co. Ltd. - Business segments
Exhibit 86: Yamaha Motor Co. Ltd. - Key news
Exhibit 87: Yamaha Motor Co. Ltd. - Key offerings
Exhibit 88: Yamaha Motor Co. Ltd. - Segment focus
11. Appendix
11.1 Scope of the report
11.1.1 ????Market definition
11.1.2 Objective
11.1.3 Notes and caveats
11.2 Currency conversion rates for US$
Exhibit 89: Currency conversion rates for US$
11.3 Research Methodology
Exhibit 90: Research Methodology
Exhibit 91: Validation techniques employed for market sizing
Exhibit 92: Information sources
11.4 List of abbreviations
Exhibit 93: List of abbreviations
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
- Manufacturers and suppliers
- Channel partners
- Industry experts
- Strategic decision makers
Secondary sources
- Industry journals and periodicals
- Government data
- Financial reports of key industry players
- Historical data
- Press releases
DATA ANALYSIS
Data Synthesis
- Collation of data
- Estimation of key figures
- Analysis of derived insights
Data Validation
- Triangulation with data models
- Reference against proprietary databases
- Corroboration with industry experts
REPORT WRITING
Qualitative
- Market drivers
- Market challenges
- Market trends
- Five forces analysis
Quantitative
- Market size and forecast
- Market segmentation
- Geographical insights
- Competitive landscape
Frequently Asked Questions?
- US
- Germany
- Australia
- France
- Canada
- Growing use of ATVs in recreational, sports, and military applications
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