Global All-Terrain Vehicle Market To Be Driven By The Rising Demand For ATVs In Various Applications In The Forecast Period Of 2023-2028

All-Terrain Vehicle Market

The new report by Expert Market Research titled, ‘Global All-Terrain Vehicle Market Outlook, Size, Share, Price, Report and Forecast 2023-2028’, gives an in-depth analysis of the global all-terrain vehicle market, assessing the market based on its segments like drive type, fuel type, application, engine capacity, seating capacity, type, number of wheels, and major regions.

The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analyzing the market based on the SWOT and Porter’s Five Forces models.

The key highlights of the report include:

Market Overview (2018-2028)

  • Forecast CAGR (2023-2028): 2.67%
  • Forecast Market Size (2026): USD 4.7 Billion

The all-terrain vehicle market is witnessing substantial growth owing to the increasing demand in sports, agricultural, and military applications. Reasons like government regulations pertaining to designs, economical growth, emergence of new technologies, growing disposable income, and new projects related to electric vehicles have triggered the demand for all-terrain vehicles.

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Moreover, because of the large demand in applications like construction, mining, forestry, hunting, and entertainment, the market is likely to witness considerable growth over the forecast period.

All-Terrain Vehicle Industry Definition and Major Segments

An all-terrain vehicle (ATV), also called a quad bike or light utility vehicle (LUV), is a vehicle that traverses on tires with low-pressure and has a seat that is straddled by the rider, while also having handlebars for steering the vehicle.

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The industry can be broken down based on drive type into:

  • 2WD
  • 4WD
  • AWD

Based on fuel type, the market is bifurcated into:

  • Electric ATV
  • Gasoline ATV

The market can be categorized by application into:

  • Sports
  • Entertainment
  • Agriculture
  • Military and Defense
  • Hunting and Forestry

Based on engine capacity, the industry is classified into:

  • <400 CC
  • 400 to 800 CC
  • >800 CC

By seating capacity, the market can be divided into:

  • One-Seat ATV
  • Two-Seat ATV

The industry is segmented based on type into:

  • Utility ATV
  • Sport ATV

The market can be bifurcated by number of wheels into:

  • Four-Wheel
  • >Four-Wheel

Regionally, the industry is segmented into:

  • North America
  • Europe
  • Asia Pacific
  • Middle East and Africa
  • Latin America

All-Terrain Vehicle Market Trends

Recently, some key industrial developments have showcased the potential to drive the growth of the market over the forecast period. For example, Polaris announced the launching of the new Sportsman 570 and Sportsman 450 H.O. in August 2020, thus strengthening its already industry-leading ATV product line for 2021. Polaris improved on the popular sportsman characteristics that riders fancy, thus further raising the standards set by the firm in the ATV market.

Key Market Players

The major players in the market are Polaris Inc., Textron Inc., Honda Motor Co. Ltd., Kawasaki Motors Corp., Suzuki Motor Corporation, and Others.

The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.

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Over 3000 EMR consultants and more than 100 analysts work very hard to ensure that clients get only the most updated, relevant, accurate and actionable industry intelligence so that they may formulate informed, effective and intelligent business strategies and ensure their leadership in the market.

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