Global All-terrain Vehicle Market by Application Type (Sports, Military & Defense, Agriculture, Recreation), by Engine Type (400 - 800cc, Below 400cc) and Region (North America, Latin America, Europe, Asia Pacific and Middle East & Africa), Forecast To 2028

Summary of the Report

Global all-terrain vehicle sales were valued at USD 3.9 billion in 2018. They are expected to increase at a compound annual rate (CAGR of 3.1%) between 2019 and 2025. Market growth is driven by the growing popularity of outdoor entertainment such as off-road activities, increased number of trails, adventure parks, and high demand all-terrain vehicle for military and agricultural purposes. Over the forecast period, all-terrain vehicle demand will rise due to rising purchasing power and disposable income in both developed and emerging economies.

An all-terrain car (ATV), is a motorized offroad vehicle designed to be used for daily commutes on four wheels. It has non-pneumatic tires or low pressure tires and a handlebar for steering control. The type I category is for single riders only. Type II ATVs can be used by two passengers. Type II ATVs have a designated seat position behind the rider.

All-terrain vehicles are well-known for their ability to maneuver in difficult terrain and off-road. The robust vehicle design provides greater protection against harsh operating environments than conventional vehicles. ATVs can be used in sports, forestry and surveying as well as agriculture and military and defense. These vehicles are easy to transport equipment and supplies and can be used in remote and rugged terrains. ATVs have been popular over the years. Although all-terrain vehicles are mostly used off-road, many regions allow them to be used on public roads.

For various farm-related purposes, such as weed control and field plowing, fence maintenance, animal handling, and general transport, the demand for all-terrain cars has increased. The versatility of all-terrain vehicles makes them useful in many other applications, such as construction, manufacturing and utilities, search and rescue, mining, and construction. To increase product visibility and gain new customers, prominent companies sponsor off-road racing events.

Due to increased demand for ATVs that run on gasoline, the market is growing. Diesel engines are the most common choice for heavy-duty all-terrain vehicle because they can be used for towing and material handling. As an alternative to ATVs that run on gasoline or diesel, electric all-terrain cars are becoming more popular in North America and Europe. The factors driving global demand for HTML3_ electric vehicles HTML3_ HTML3_ are environmental concerns and fluctuating gasoline prices. Electric ATVs can compete with diesel and gasoline versions by having more powerful electric motors. They are suitable for activities like hunting and wildlife rescue because they have quiet engines.

Information about Engine Types

The ATV market can be divided by engine type into engines below 400cc, 400-800cc and 800cc. With a market share exceeding 48.0%, the 400-800cc segment dominated 2018's ATV market. The increased demand for all-terrain vehicle with a 400-800cc engine can be attributed to the utility purpose. All-terrain vehicles have a lot of storage and can be used to transport equipment and supplies. These vehicles are also being used by government agencies for rescue and search operations, as well as monitoring wild and forest areas. ATV manufacturers are expanding their product range to include models in the 400-800cc class. This will allow them to reach a wider audience and expand their application options. Suzuki Motor of America, Inc. has announced the launch of the new Quad 750XP and 500XP ATVs in the 400-800cc range with increased towing capacities to meet consumer demand.

With a CAGR at 5.0%, ATVs above 800cc are expected to see significant growth in all-terrain vehicle sales. The demand for ATVs with engines above 800cc is expected to increase due to increased off-trailing activities. To be able to provide torque and other capabilities, off-trailing events and activities require larger engine displacement capacities. This would give participants a competitive advantage. ATVs with 800cc or more capacity will be in demand as they are expected to enable competitors in desert races and rough terrain. Polaris, for instance, announced in October 2018 the launch of its Sportsman 850 SP ATV and Sportsman XP 1000. These all-terrain vehicles offer greater ground clearance and more suspension travel.

Application Type Insights

The market can be divided into four types based on its application: agriculture, sports and recreational, military and defense, and military and defence. With a share exceeding 66.0%, the recreational segment dominated 2018's market. Due to the increasing popularity of hiking and camping, there has been a growing demand for all-terrain vehicle for recreational use. The government's efforts to encourage ATVs by providing grants to individuals who are involved in off-road or rough terrain activities, and encouraging safety measures will help to drive market growth. The Oregon Parks & Recreation Department launched an ATV grant program in 2017 that paid for law enforcement, emergency medical care, land acquisition, operation, and maintenance.

Over the forecast period, the market for defense and military applications is expected to experience a significant growth rate. ATVs offer greater mobility and maneuverability for tactical missions. Original equipment manufacturers (OEMs), who are involved in strategic contracts for military organizations, offer ATVs for military purposes that can be used off-road, as well as utility, transport, and electric. Polaris, for example, offers ATV models like Mrzr D4, DAGOR A1, Sportsman MV850 and Sportsman MV850 that can be used in military applications.

Regional Insights

North America is the largest market with a market share of over 58.0% in 2018. The United States and Canada are the top countries where ATV adoption has increased significantly. This is due to factors like a developed economy, higher disposable income, future electric vehicle projects and government regulations. There are many off-road trails and parks in the region, including Rocky Ridge Ranch and River Valley Motocross. These off-road terrain parks have been turned into tourist attractions which has positively impacted local economies.

From 2019 to 2025, the Europe market will experience a 3.9% CAGR. A growing demand for ATVs in the region is expected over the forecast period. This is due to increased use of off-road vehicles for agricultural, military, and defense purposes. Market demand will be boosted by the development of standard safety requirements and testing methods, as well as revised regulations regarding emissions from non-roadmobile machinery. All-terrain vehicle manufacturers in Asia Pacific have sustainable growth prospects due to the large market address, rising military spending, and low-cost manufacturing.

Market Share Insights & Key Companies

The market is competitive and highly concentrated. In 2018, the largest five companies accounted for the highest share of global revenue. The market is dominated by Polaris Inc., American Honda Motor Co., Inc., Bombardier Recreational Products, Yamaha Motor Corporation, and Arctic Cat Inc. (acquired from Textron Inc.). To maintain market share, key players have adopted new product development, product line improvements, mergers and acquisitions. Textron Inc. announced in March 2017 that it had acquired Arctic Cat Inc. in a short-form deal. Textron Inc. has Arctic Cat Inc. as an indirect, wholly-owned subsidiary. Polaris Inc. opened the first multi-brand distribution centre in Fernley, Nevada in August 2019. The distribution center covers 475,000 square feet and will be used to support the company’s aftermarket, parts and accessories businesses. The following are some of the most prominent players in all-terrain vehicle markets:

• Polaris Inc.

• American Honda Motor Co., Inc.

• Bombardier Recreational Products

• Yamaha Motor Corporation

• Arctic Cat Inc.

Up Market Research published a new report titled “All-terrain Vehicle Market research report which is segmented by Application Type (Sports, Military & Defense, Agriculture, Recreation), by Engine Type (400 - 800cc, Below 400cc), By Players/Companies American Honda Motor Co Inc, Polaris Inc, Yamaha Motor Corporation, Arctic Cat Inc?, Bombardier Recreational Products (BRP)”. As per the study the market is expected to grow at a CAGR of XX% in the forecast period.

Report Scope

The report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can change the market dynamics of the industry. It provides an in-depth analysis of the market segments which include products, applications, and competitor analysis.

Global All-terrain Vehicle Market Report Segments:

The market is segmented by Application Type (Sports, Military & Defense, Agriculture, Recreation), by Engine Type (400 - 800cc, Below 400cc).

All-terrain Vehicle Market research report delivers a close watch on leading competitors with strategic analysis, micro and macro market trend and scenarios, pricing analysis and a holistic overview of the market situations in the forecast period. It is a professional and a detailed report focusing on primary and secondary drivers, market share, leading segments and geographical analysis. Further, key players, major collaborations, merger & acquisitions along with trending innovation and business policies are reviewed in the report.

Key Benefits for Industry Participants & Stakeholders:

• Industry drivers, restraints, and opportunities covered in the study
• Neutral perspective on the market performance
• Recent industry trends and developments
• Competitive landscape & strategies of key players
• Potential & niche segments and regions exhibiting promising growth covered
• Historical, current, and projected market size, in terms of value
• In-depth analysis of the All-terrain Vehicle Market

Overview of the regional outlook of the All-terrain Vehicle Market:

Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa (MEA). North America region is further bifurcated into countries such as U.S., and Canada. The Europe region is further categorized into U.K., France, Germany, Italy, Spain, Russia, and Rest of Europe. Asia Pacific is further segmented into China, Japan, South Korea, India, Australia, South East Asia, and Rest of Asia Pacific. Latin America region is further segmented into Brazil, Mexico, and Rest of Latin America, and the MEA region is further divided into GCC, Turkey, South Africa, and Rest of MEA.

Highlights of The All-terrain Vehicle Market Report:

1. The market structure and projections for the coming years.
2. Drivers, restraints, opportunities, and current trends of All-terrain Vehicle Market.
3. Historical data and forecast.
4. Estimations for the forecast period 2028.
5. Developments and trends in the market.

                1. Sports

                2. Military & Defense

                3. Agriculture

                4. Recreation

                1. 400 - 800cc

                2. Below 400cc

8. Market scenario by region, sub-region, and country.
9. Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
10. Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
11. Government Policies, Macro & Micro economic factors are also included in the report.

We have studied the All-terrain Vehicle Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2028.

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• Correctly Positioning New Products
• Market Entry Strategies
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Reasons to Purchase the All-terrain Vehicle Market Report:

• The report includes a plethora of information such as market dynamics scenario and opportunities during the forecast period
• Segments and sub-segments include quantitative, qualitative, value (USD Million,) and volume (Units Million) data.
• Regional, sub-regional, and country level data includes the demand and supply forces along with their influence on the market.
• The competitive landscape comprises share of key players, new developments, and strategies in the last three years.
• Comprehensive companies offering products, relevant financial information, recent developments, SWOT analysis, and strategies by these players.