Global All Terrain Vehicle ATV Market Overview 2024, Forecast To 2033
14 Feb, 2024
The all-terrain vehicle (ATV) market has demonstrated robust growth, ascending from $3.56 billion in 2023 to $3.76 billion in 2024, reflecting a compound annual growth rate (CAGR) of 5.7%. This growth is attributed to the popularity of recreational off-roading, applications in agriculture and farming, military and defense usage, and the expansion of outdoor recreation. The market is expected to see strong growth, reaching $4.7 billion in 2028, with a CAGR of 5.7%. Contributing factors include increased urban and suburban recreational use, stringent emission standards, advanced safety features, and growing demand in emerging markets. Key trends encompass electric ATV models, autonomous ATV technologies, lightweight and high-performance materials, connectivity and IoT integration, and customization and personalization options.
Global All Terrain Vehicle ATV Market Key Driver
Government support propels the growth of the all-terrain vehicle (ATV) market. Various governments are backing the automotive sector to innovate and cater to industry needs. For example, the U.S. Department of Energy announced a $96 million funding opportunity in July 2022 to support decarbonizing the transportation sector. Government support is a key factor in the growth of the ATV market.
Get A Free Sample Of The Global All Terrain Vehicle ATV Market ReportGlobal All Terrain Vehicle ATV Market Segments
The all-terrain vehicle (atv) market covered in this report is segmented –
1) By Vehicle Type: Utility ATV, Sports ATV, Recreational, Other Vehicles
2) By Displacement: Low, Mid, High
3) By Application: Sports, Entertainment, Agriculture, Military, Hunting
By Geography: The regions covered in the template market report are Asia-Pacific, Western Europe, Eastern Europe,North America, South America, Middle East, and Africa. Among these regions.
North America was the largest region in the all-terrain vehicle (ATV) market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the all-terrain vehicle (atv) market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Major All Terrain Vehicle ATV Industry Players
Bombardier Recreational Products Inc.; Suzuki Motors Corporation; Kawasaki Motors Corporation; HiSun Motors Corp.; Yamaha Motor Co. Ltd.; AISIN SEIKI Co. Ltd.; Honda Motor Co. Ltd.; Polaris Industries Inc.; TEAM Industries Inc.; Arctic Cat Inc.; Deere & Company; KTM AG; Can-Am Off-Road; Textron Inc.; CFMOTO Powersports Inc.; Kwang Yang Motor Co. Ltd.; Linhai Industrial Share Co. Ltd.; TGB Group; Kandi Technologies Group; Kymco USA Inc.; Massimo Motor Sports; ODES Industries LLC; Suzuki Motorcycle Corporation; Apollo io; BMS Motorsports; Maxtrade LLC; Hammerhead Off-Road Inc.; Chongqing TaoTao Technology Co. Ltd.; Trailmaster Inc.; DRR USA Inc.
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All Terrain Vehicle ATV Market Overview
The all-terrain vehicle (ATV) is a vehicle that travels on low-pressure tires, with a seat which is straddled by the operator, along with handlebars for steering control. It is designed to handle a wider variety of terrain better than other vehicles.
All Terrain Vehicle ATV Global Market Report 2023 provides data on the global all terrain vehicle atv market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The all terrain vehicle atv market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.