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ATV and UTV Market Analysis By Size, Share Trends, Future Growth, Emerging Trends, Qualitative Outlook – Forecast To 2030

Report Ocean published the latest research report on the ATV and UTV market. In order to comprehend a market holistically, a variety of factors must be evaluated, including demographics, business cycles, and microeconomic requirements that pertain precisely to the market under study. In addition, the ATV and UTV market study demonstrates a detailed examination of the business state, which represents creative ways for company growth, financial factors such as production value, key regions, and growth rate.

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The global ATV and UTV market size was US$ 8,161.1 million in 2021. The global ATV and UTV market is forecast to grow to US$ 13,621.4 million by 2030 by registering a compound annual growth rate (CAGR) of 7.7% during the forecast period from 2022 to 2030.

Factors Influencing the Market

The growing interest in adventure sports & recreational activities is primarily driving the growth of the ATV and UTV market. In addition, increasing deployment of ATVs and UTVs for military activities are expected to benefit the overall market during the study period.

The global ATV and UTV market is also driven by the growing government support to strengthen the military sector. For instance, the U.S. Special Operations Command granted a $109 million contract to Polaris Government and Defense in 2020 for a new Lightweight Tactical All-Terrain Vehicle. Thus, such investments are likely to amplify the growth of the ATV and UTV market.

On the contrary, the high cost of ATV and UTV may limit the market growth during the forecast period.

Growing disposable income and the rising tours and travel industry will also contribute to the growth of the global ATV and UTV market during the forecast period.

COVID-19 Impact Analysis

The wake of the COVID-19 pandemic hampered the campaigning activities. The entire tourism sector witnessed a severe downfall due to the pandemic. As a result, it halted the growth of the global ATV and UTV market. The global ATV and UTV market witnessed a significant drop also due to restrictions on manufacturing activities. The shortage of labor, raw material, and import-export activities limited the growth of the global ATV and UTV market. However, the demand from the military segment remained the same. As a result, it has been beneficial for the global ATV and UTV market.

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Regional Analysis

The Asia-Pacific ATV and UTV market is forecast to emerge as the largest market in terms of revenue. It is majorly due to the rapidly rising tourism sector in the region. Furthermore, growing initiatives to strengthen the military sector will also benefit the ATV and UTV market. The Asia-Pacific ATV and UTV market will also witness various growth opportunities due to the launch of the new range of ATV and UTV models. Furthermore, growing disposable income and rising spending on recreational activities, especially in developing nations like China and India, will further accelerate the growth of the ATV and UTV market during the forecast period.

Competitors in the Market

  • BRP Inc.
  • Hisun Motors Corporation
  • CFmoto
  • Deere Company
  • Honda Motor Company, Ltd.
  • Kubota Corporation
  • Kawasaki Heavy Industries Ltd
  • Kwang Yang Motor Co., Ltd.
  • Polaris Industries, Inc.
  • Suzuki Motor Corporation
  • Yamaha Motor Co., Ltd.
  • Textron Inc.
  • Other Prominent Players

Market Segmentation

The global ATV and UTV market segmentation focus on Vehicle, Displacement, Fuel, Application, End-Users, and Region.

By Vehicle Type Outlook

  • ATV
  • UTV

By Displacement Outlook

  • Less than 400 cc
  • 400 – 800 cc
  • More than 800 cc

By Fuel Type Outlook

  • Gasoline Powered
  • Diesel Powered
  • Electric Powered
  • Solar Powered

By Application Outlook

  • Utility
  • Sports
  • Others

By End-Users Outlook

  • Agriculture
  • Military
  • Mountaineering
  • Others

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By Regional Outlook

  • North America
  • The U.S.
  • Canada
  • Mexico
  • Europe
  • Western Europe
  • The UK
  • Germany
  • France
  • Italy
  • Spain
  • Rest of Western Europe
  • Eastern Europe
  • Poland
  • Russia
  • Rest of Eastern Europe
  • Asia Pacific
  • China
  • India
  • Japan
  • Australia & New Zealand
  • ASEAN
  • Rest of Asia Pacific
  • Middle East & Africa (MEA)
  • UAE
  • Saudi Arabia
  • South Africa
  • Rest of MEA
  • South America
  • Brazil
  • Argentina
  • Rest of South America

What factors are taken into consideration when assessing the key market players?

  • The report analyzes companies across the globe in detail.
  • The report provides an overview of major vendors in the market, including key players.
  • Reports include information about each manufacturer, such as profiles, revenue, product pricing, and other pertinent information about the manufactured products.
  • This report includes a comparison of market competitors and a discussion of the standpoints of the major players.
  • Market reports provide information regarding recent developments, mergers, and acquisitions involving key players.

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