An ATV (all-terrain vehicle) is also known as “quad” or “four wheeler” and is meant for single-riders. A UTV (utility task vehicle) tends to be bigger and allows for “side-by-side” riding, which is why some simply call it a “side by side” or “SXS” for short.
Recently, tourists are hugely attracted to the trails of ATV and UTV along with related activities for recreational purposes. Many tourism councils are introducing ATV and UTV related activities by building tracks for these vehicles to attract and retain visitors. Additionally, several countries are organizing yearly championships, which are gaining popularity at an amazing rate as anyone capable of driving ATV can participate in the race. Therefore, the growing trend of such adventure sports attracts tourists, and this crucial factor enhancing the growth of the ATV and UTV market at a large scale. Furthermore, government rules to support driving ATVs and UTVs on road are expected to boost the growth of the ATV and UTV market in the coming years.
On the downside, factors such as a ban on ATV and UTV driving in wildlife areas due to terrain damage and high maintenance cost of ATVs and UTVs are projected to hamper the growth of the market in the forecast period. Besides this, the production of safer ATVs and UTVs creates a new growth opportunity for the global ATV and UTV market.
Covid-19 Impact on ATV and UTV Market
The outbreak of the covid-19 has a severe and swift impact on the automobile and transportation industry. This is majorly due to the shutdown of assembly plants in the US, interruptions across Europe in large-scale manufacturing, and disruption in the export of Chinese parts. In addition to this, the industry is dealing with reduced demand across the globe due to changes in customer behavior and shifts in a supply-demand chain. A recent study shows a 39% decline in sales of automotive all over the world. Moreover, the nationwide lockdowns have substantially affected the transportation sector. Restrictions on transportation accounted for a 45 to 55% decline in public as well as private transport sectors.
ATV and UTV Market Segment Overview
According to End-User, the Military segment is the largest segment in the ATV and UTV market owing to superior mobility provided for tactical missions. There is an increase in demand for ATV and UTV for military activities such as transportation of troops, driving on difficult terrain, and others. Furthermore, factors, such as high maneuverability, flexibility, and superior navigational help to provide instant directions for vehicle operators, further boost the market growth. For instance, in May 2020, the U.S. Special Operations Command (USSOCOM) awarded a $109 million seven-year contract to Polaris Government and Defense for the Polaris MRZR Alpha, a new Lightweight Tactical All-Terrain Vehicle (LTATV). Hence, increasing demand for ATVs and UTVs from military troops propels the growth of the ATV and UTV market steadily.
ATV and UTV Market, By Vehicle Type
· ATV
· UTV
ATV and UTV Market, By Displacement
· Less than 400 (CC)
· 400 - 800 (CC)
· More than 800 (CC)
ATV and UTV Market, By Fuel Type
· Gasoline Powered
· Diesel powered
· Electric Powered
· Solar Powered
ATV and UTV Market, By Application
· Utility
· Sports
· Others
ATV and UTV Market, By End-User
· Agriculture
· Military
· Mountaineering
· Others
ATV and UTV Regional Overview
In terms of geography, North America holds the largest share of the ATV and UTV market. In the region, there is a high demand for UTVs in the defense sector owing to their ability to patrol in combat operations quickly. In addition, these vehicles have also gained a population among farmers and hunters within the US. Similarly, Asia Pacific is projected to emerge as a significant region in the overall ATV and UTV market. ATV and UTV are being adopted to promote off-road vehicles due to the growing trend of adventure sports across the region. Also, several companies initiate the manufacturing of ATVs and UTVs in this region. Hence, such initiatives are estimated to offer lucrative opportunities to the ATV and UTV markets in this region.
ATV and UTV Market, By Geography
· North America (US & Canada)
· Europe (UK, Germany, France, Italy, Spain, Russia & Rest of Europe)
· Asia-Pacific (Japan, China, India, Australia, & South Korea, & Rest of Asia-Pacific)
· LAMEA (Brazil, Saudi Arabia, UAE & Rest of LAMEA)
ATV and UTV Market, Key Players
· BRP Inc
· CFmoto
· Deere Company
· Hisun Motors Corporation
· Honda Motor Company, Ltd.
· Kawasaki Heavy Industries Ltd
· Kwang Yang Motor Co., Ltd.
· Kubota Corporation
· Polaris Industries, Inc.
· Suzuki Motor Corporation
· Textron Inc
· Yamaha Motor Co., Ltd.
1. Introduction
- 1.1. Research Scope
- 1.2. Market Segmentation
- 1.3. Research Methodology
- 1.4. Definitions and Assumptions
2. Executive Summary
3. Market Dynamics
- 3.1. Market Drivers
- 3.2. Market Restraints
- 3.3. Market Opportunities
4. Key Insights
- 4.1. Key Emerging Trends – For Major Countries
- 4.2. Latest Technological Advancement
- 4.3. Regulatory Landscape
- 4.4. Industry SWOT Analysis
- 4.5. Porters Five Forces Analysis
5. Global ATV and UTV Market Analysis (USD Billion), Insights and Forecast, 2020-2027
- 5.1. Key Findings / Summary
- 5.2. Market Analysis, Insights and Forecast – By Vehicle Type
- 5.2.1. ATV
- 5.2.2. UTV
- 5.3. Market Analysis, Insights and Forecast – By Displacement
- 5.3.1. Less than 400 (CC)
- 5.3.2. 400 - 800 (CC)
- 5.3.3. More than 800 (CC)
- 5.4. Market Analysis, Insights and Forecast – By Fuel Type
- 5.4.1. Gasoline Powered
- 5.4.2. Diesel powered
- 5.4.3. Electric Powered
- 5.4.4. Solar Powered
- 5.5. Market Analysis, Insights and Forecast – By Application
- 5.5.1. Utility
- 5.5.2. Sports
- 5.5.3. Others
- 5.6. Market Analysis, Insights and Forecast – By End-User
- 5.6.1. Agriculture
- 5.6.2. Military
- 5.6.3. Mountaineering
- 5.6.4. Others
- 5.7. Market Analysis, Insights and Forecast – By Region
- 5.7.1. North America
- 5.7.2. Europe
- 5.7.3. Asia Pacific
- 5.7.4. Latin America, Middle East and Africa
6. North America ATV and UTV Market Analysis (USD Billion), Insights and Forecast, 2020-2027
- 6.1. Key Findings / Summary
- 6.2. Market Analysis, Insights and Forecast – By Vehicle Type
- 6.2.1. ATV
- 6.2.2. UTV
- 6.3. Market Analysis, Insights and Forecast – By Displacement
- 6.3.1. Less than 400 (CC)
- 6.3.2. 400 - 800 (CC)
- 6.3.3. More than 800 (CC)
- 6.4. Market Analysis, Insights and Forecast – By Fuel Type
- 6.4.1. Gasoline Powered
- 6.4.2. Diesel powered
- 6.4.3. Electric Powered
- 6.4.4. Solar Powered
- 6.5. Market Analysis, Insights and Forecast – By Application
- 6.5.1. Utility
- 6.5.2. Sports
- 6.5.3. Others
- 6.6. Market Analysis, Insights and Forecast – By End-User
- 6.6.1. Agriculture
- 6.6.2. Military
- 6.6.3. Mountaineering
- 6.6.4. Others
- 6.7. Market Analysis, Insights and Forecast – By Country
- 6.7.1. U.S.
- 6.7.2. Canada
7. Europe ATV and UTV Market Analysis (USD Billion), Insights and Forecast, 2020-2027
- 7.1. Key Findings / Summary
- 7.2. Market Analysis, Insights and Forecast – By Vehicle Type
- 7.2.1. ATV
- 7.2.2. UTV
- 7.3. Market Analysis, Insights and Forecast – By Displacement
- 7.3.1. Less than 400 (CC)
- 7.3.2. 400 - 800 (CC)
- 7.3.3. More than 800 (CC)
- 7.4. Market Analysis, Insights and Forecast – By Fuel Type
- 7.4.1. Gasoline Powered
- 7.4.2. Diesel powered
- 7.4.3. Electric Powered
- 7.4.4. Solar Powered
- 7.5. Market Analysis, Insights and Forecast – By Application
- 7.5.1. Utility
- 7.5.2. Sports
- 7.5.3. Others
- 7.6. Market Analysis, Insights and Forecast – By End-User
- 7.6.1. Agriculture
- 7.6.2. Military
- 7.6.3. Mountaineering
- 7.6.4. Others
- 7.7. Market Analysis, Insights and Forecast – By Country
- 7.7.1. UK
- 7.7.2. Germany
- 7.7.3. France
- 7.7.4. Italy
- 7.7.5. Spain
- 7.7.6. Russia
- 7.7.7. Rest of Europe
8. Asia Pacific ATV and UTV Market Analysis (USD Billion), Insights and Forecast, 2020-2027
- 8.1. Key Findings / Summary
- 8.2. Market Analysis, Insights and Forecast – By Vehicle Type
- 8.2.1. ATV
- 8.2.2. UTV
- 8.3. Market Analysis, Insights and Forecast – By Displacement
- 8.3.1. Less than 400 (CC)
- 8.3.2. 400 - 800 (CC)
- 8.3.3. More than 800 (CC)
- 8.4. Market Analysis, Insights and Forecast – By Fuel Type
- 8.4.1. Gasoline Powered
- 8.4.2. Diesel powered
- 8.4.3. Electric Powered
- 8.4.4. Solar Powered
- 8.5. Market Analysis, Insights and Forecast – By Application
- 8.5.1. Utility
- 8.5.2. Sports
- 8.5.3. Others
- 8.6. Market Analysis, Insights and Forecast – By End-User
- 8.6.1. Agriculture
- 8.6.2. Military
- 8.6.3. Mountaineering
- 8.6.4. Others
- 8.7. Market Analysis, Insights and Forecast – By Country
- 8.7.1. China
- 8.7.2. India
- 8.7.3. Japan
- 8.7.4. Australia
- 8.7.5. South East Asia
- 8.7.6. Rest of Asia Pacific
9. Latin America, Middle East and Africa ATV and UTV Market Analysis (USD Billion), Insights and Forecast, 2020-2027
- 9.1. Key Findings / Summary
- 9.2. Market Analysis, Insights and Forecast – By Vehicle Type
- 9.2.1. ATV
- 9.2.2. UTV
- 9.3. Market Analysis, Insights and Forecast – By Displacement
- 9.3.1. Less than 400 (CC)
- 9.3.2. 400 - 800 (CC)
- 9.3.3. More than 800 (CC)
- 9.4. Market Analysis, Insights and Forecast – By Fuel Type
- 9.4.1. Gasoline Powered
- 9.4.2. Diesel powered
- 9.4.3. Electric Powered
- 9.4.4. Solar Powered
- 9.5. Market Analysis, Insights and Forecast – By Application
- 9.5.1. Utility
- 9.5.2. Sports
- 9.5.3. Others
- 9.6. Market Analysis, Insights and Forecast – By End-User
- 9.6.1. Agriculture
- 9.6.2. Military
- 9.6.3. Mountaineering
- 9.6.4. Others
- 9.7. Market Analysis, Insights and Forecast – By Country
- 9.7.1. Brazil
- 9.7.2. Saudi Arabia
- 9.7.3. UAE
- 9.7.4. Rest of LAMEA
10. Competitive Analysis
- 10.1. Company Market Share Analysis, 2018
- 10.2. Key Industry Developments
- 10.3. Company Profile
- 10.4. BRP Inc
- 10.4.1. Business Overview
- 10.4.2. Segment 1 & Service Offering
- 10.4.3. Overall Revenue
- 10.4.4. Geographic Presence
- 10.4.5. Recent Development
- 10.5. CFmoto
- 10.6. Deere Company
- 10.7. Hisun Motors Corporation
- 10.8. Honda Motor Company, Ltd.
- 10.9. Kawasaki Heavy Industries Ltd
- 10.10. Kwang Yang Motor Co., Ltd.
- 10.11. Kubota Corporation
- 10.12. Polaris Industries, Inc.
- 10.13. Suzuki Motor Corporation
- 10.14. Textron Inc
Data Library Research are conducted by industry experts who offer insight on industry structure, market segmentations technology assessment and competitive landscape (CL), and penetration, as well as on emerging trends. Their analysis is based on primary interviews (~ 80%) and secondary research (~ 20%) as well as years of professional expertise in their respective industries. Adding to this, by analysing historical trends and current market positions, our analysts predict where the market will be headed for the next five years. Furthermore, the varying trends of segment & categories geographically presented are also studied and the estimated based on the primary & secondary research.
In this particular report from the supply side Data Library Research has conducted primary surveys (interviews) with the key level executives (VP, CEO’s, Marketing Director, Business Development Manager and SOFT) of the companies that active & prominent as well as the midsized organization
FIGURE 1: DLR RESEARH PROCESS
Extensive primary research was conducted to gain a deeper insight of the market and industry performance. The analysis is based on both primary and secondary research as well as years of professional expertise in the respective industries.
In addition to analysing current and historical trends, our analysts predict where the market is headed over the next five years.
It varies by segment for these categories geographically presented in the list of market tables. Speaking about this particular report we have conducted primary surveys (interviews) with the key level executives (VP, CEO’s, Marketing Director, Business Development Manager and many more) of the major players active in the market.
Secondary ResearchSecondary research was mainly used to collect and identify information useful for the extensive, technical, market-oriented, and Friend’s study of the Global Extra Neutral Alcohol. It was also used to obtain key information about major players, market classification and segmentation according to the industry trends, geographical markets, and developments related to the market and technology perspectives. For this study, analysts have gathered information from various credible sources, such as annual reports, sec filings, journals, white papers, SOFT presentations, and company web sites.
Market Size EstimationBoth, top-down and bottom-up approaches were used to estimate and validate the size of the Global market and to estimate the size of various other dependent submarkets in the overall Extra Neutral Alcohol. The key players in the market were identified through secondary research and their market contributions in the respective geographies were determined through primary and secondary research.
Forecast Model
