All-Terrain Vehicle (ATV) Market Size & Share, by Application (Mountaineering, Military, Agriculture); Engine (<400, 400-800, >800 CC); Fuel Type (Electric, Solar, Gasoline, Diesel Powered) - Global Supply & Demand Analysis, Growth Forecasts, Statistics Report 2023-2035

  • Report ID: 5006
  • Published Date: Jun 06, 2023
  • Report Format: PDF, PPT

Global Market Size, Forecast, and Trend Highlights Over 2023 - 2035

All-Terrain Vehicle Market size is poised to cross USD 10.46 Billion by the end of 2035, growing at a CAGR of 5.7% during the forecast period, i.e., 2023 – 2035. In the year 2022, the industry size of all-terrain vehicle was USD 5.38 Billion. The industry growth can be attributed to the surging popularity for outdoor entertainment activities such as off-roading. Furthermore, these vehicles are opted by the people for use on unusual road that might contain slippery road condition.

An all-terrain vehicle (ATV) refers to a motorized off-highway vehicle with four low-pressure or non-pneumatic tyres, a seat meant to be straddled by the operator, and handlebars for steering control. ATVs are classified into two types based on the manufacturer. The manufacturer intends for Type I ATVs to be used by a single operator with no passengers. The manufacturer designed Type II ATVs for usage by an operator and a passenger, with a specific seating place behind the operator. Likewise, motorcyclists must consider the varied ATV sizes.


All-Terrain Vehicle Market
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All-Terrain Vehicle Sector: Growth Drivers and Challenges

Growth Drivers

  • Increasing Number of People Participating in Professional Sports – The number of people participating in sports is increasing, which is rising the scope for ATVs sport events. The people participated in different sport events according to their choices, thus increasing the demand for ATVs off roading sports. Therefore, this is anticipated to surge the all-terrain vehicle market growth. As per the survey, the total attendance of professional sporting events in the year 2022, reached more than 75 Million in the United Kingdom.
  • Growing Agriculture Sector –The agriculture sector is growing, and there are large number of people that are depended on them for their living. Moreover, there are different terrain where agriculture is done for various crops, and that rises the demand for ATVs. Hence, this factor is expected to surge the market’s growth over the forecast period.  More than 50 percent of the workforce is employed in agriculture and allied sector activities in India, as per the estimates.
  • Surging Use in Military Applications –The All-terrain vehicle have the mobility to deploy the army in special locations. They are meant for different weather, and terrain conditions, thus increasing the demand among the army people. Hence, it is predicted to drive the growth of the All-terrain vehicle market by the end of the year 2035. The Ministry of Defense of India has recently requested a proposal for the procurement of 250 units of ATVs under emergency procurement in the year 2022.
  • Growing Tourism Industry- The ATVs are able to run on rough surfaces, such as deserts. Thus, the surging number of international visitors in the desert areas is increasing the demand for these vehicles. Hence, it is expected to boost the growth of the market in the upcoming years. According to the recent reports, the average international visitors in Dubai accounted to more than 15 Million, where the country is popular for desert trips.
  • Growing Government Rules to Drive ATVs on the Road – According to the reports, the New Off-road Vehicles Act and Regulations came into effect on May 19, 2022 that also state the training requirements for the safety of the passengers. Therefore, the government’s support through their rules is further anticipated to surge the growth of the market in the upcoming years.  
  • Rising Investment and Collaborations by Manufacturers in All-Terrain Vehicle– There has been increasing collaboration and investment by the manufacturers in the research and development of off-roading vehicles. Polaris Inc., announced the partnership of 10 years with Zero Motorcycles, for the off-road vehicles, and snowmobiles in the year 2020. The partnership between the companies in order to launch new off-road vehicles including motorcycle with an electric option, is surging the awareness among the people related to the options available.

Challenges

  • Increasing Threat to Public Safety- The increasing concern related to the safety of the passengers is one of the major factors that is expected to restrain the growth of the market over the forecast period. The rising speed during off-roading is leading to an increase in the number of accidents. Moreover, these vehicles are not designed to carry a passenger, as it may pose a risk to the life of the person.
  • High Initial and Maintenance Costs of All-Terrain Vehicles
  • Trade Barriers for the Raw Material

All-Terrain Vehicle Market: Key Insights

Base Year

2022

Forecast Year

2023-2035

CAGR

~5.70%

Base Year Market Size (2022)

~ USD 5.38 Billion

Forecast Year Market Size (2035)

~ USD 10.46 Billion

Regional Scope

  • North America (U.S., and Canada)
  • Latin America (Mexico, Argentina, Rest of Latin America)
  • Asia-Pacific (Japan, China, India, Indonesia, Malaysia, Australia, Rest of Asia-Pacific)
  • Europe (U.K., Germany, France, Italy, Spain, Russia, NORDIC, Rest of Europe)
  • Middle East and Africa (Israel, GCC North Africa, South Africa, Rest of the Middle East and Africa)
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All-Terrain Vehicle Segmentation

Application (Mountaineering, Military, Agriculture)

The agriculture segment is estimated to hold 38% share of the all-terrain vehicle market by 2035. The growth of the segment can be attributed to the increasing use of all-terrain vehicles for agricultural purposes. The light footprints of these vehicles that don’t harm the agriculture areas, along with their speed, are the features that make them appropriate for agriculture activities. The ATVs are used in the agriculture sector for various activities such as animal handling, weed control, field plowing, and others. Moreover, ATVs provide easy to perform agricultural activities in desert areas. As a result, all these factors are expected to drive the growth of the agriculture segment in the market. As per the estimates in 2021, more than 35 percent of the total world’s food that includes half its livestock, are produced in dry areas.

Engine (<400, 400-800, >800 CC)

The all-terrain vehicle market from 400-800 CC segment is expected to garner a significant share of around 41% in the year 2035. This growth is attributed to the presence of large storage capacity of the engines, that are used for transporting supplies. Moreover, the manufacturers are focusing on 400-800 CC engines in order to cater the demands of various end users. Similarly, the >800 CC engine segment is also predicted to have a significant growth over the forecast period. These engines are generally adopted for the sports, and events that requires a large engine providing a competitive advantage to the participants. In addition, they are high opted for desert by the tourists for the sight viewing, or desert race events. Therefore, all these factors are anticipated to provide opportunities for the growth of the segment in the market.

Our in-depth analysis of the global market includes the following segments:

     By Application

  • Mountaineering
  • Military
  • Agriculture
  • Others

     By Engine

  • <400
  • 400-800
  • 800 CC

     By Fuel Type

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

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ATV Industry - Regional Synopsis

North American Market Statistics

The North America all-terrain vehicle market is projected to be the largest with a share of about 34% by the end of 2035. This growth is attributed majorly to the presence of key manufacturers of all-terrain vehicles in the region. Furthermore, there has been an increasing adoption of all-terrain vehicles in the region owing to various factors, such as the upcoming electric vehicle projects, research and development on new and sophisticated technologies. In addition, the surging disposable income of the people is increasing their investment in the entertainment sectors, such as off-roading, and events. The North American region also has various parks that uses all-terrain vehicles in order to attract tourists. Therefore, these factors are anticipated to expand the growth of the market in the region. According to the data, more than 1 million people in the United States are ATVs owners in 2020.

APAC ATV Market Analysis

The Asian Pacific all-terrain vehicle market is estimated to be the second largest, registering a share of about 24% by the end of 2035. The growth of the market can be attributed majorly to the of the largest seller of ATVs in the countries such as China, and Australia. Furthermore, the utility ATVs are used for various applications in the region such as agriculture, sports, and other activities, that is increasing their demand. Furthermore, the low manufacturing cost of the all-terrain vehicle in the region, is also surging their demand in the Asia Pacific region. Thus, all these reasons are expected to drive the market’s growth in the region. 

Research Nester
All-Terrain Vehicle Market Size
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Top Featured Companies Dominating the All-Terrain Vehicle (ATV) Landscape

top-features-companies
    • Suzuki Motor Corporation
      • Company Overview
      • Business Strategy
      • Key Product Offerings
      • Financial Performance
      • Key Performance Indicators
      • Risk Analysis
      • Recent Development
      • Regional Presence
      • SWOT Analysis
    • Yamaha Motor Co., Ltd.
    • BRP
    • Kawasaki Heavy Industries. Ltd.
    • KWANG YANG MOTOR CO., LTD.
    • HISUN
    • KUBOTA Corporation
    • ZHEJIANG CFMOTO POWER CO., LTD
    • Polaris Inc.
    • Textron Inc.

In-the-news

In The News

  • Kawasaki Heavy Industries. Ltd., announced that the advanced rider assistance systems developed by Bosch Corporation to be included in part of Kawasaki motorcycle lineup starting in 2021.
  • Yamaha Motor Co., Ltd. announced a newly developed prototype of the EPS steering support system for motorcycles contributing to improved motorcycle stability and agility as a new rider aid.

Author Credits:  Harshita Srivastava, Saima Khursheed


  • Report ID: 5006
  • Published Date: Jun 06, 2023
  • Report Format: PDF, PPT

Frequently Asked Questions (FAQ)

Growing government rules to drive ATVs on road, and increasing number of people participating in professional sports are the major factors driving the market growth.

The market size of all-terrain vehicle market is anticipated to attain a CAGR of ~5.70% over the forecast period, i.e., 2023 – 2035.

The major players in the market are Yamaha Motor Co., Ltd., BRP, Kawasaki Heavy Industries. Ltd., KWANG YANG MOTOR CO., LTD., HISUN, KUBOTA Corporation, ZHEJIANG CFMOTO POWER CO., LTD, Polaris Inc., Textron Inc., and others.

The company profiles are selected based on the revenues generated from the product segment, the geographical presence of the company which determines the revenue generating capacity as well as the new products being launched into the market by the company.

The market is segmented by application, engine, fuel type, and by region.

The agriculture segment is anticipated to garner the largest market size by the end of 2035 and display significant growth opportunities.

High initial and maintenance cost of all-terrain vehicle, and trade barriers for the raw material are estimated to be the growth hindering factors for the market expansion.

The market in the North American region is projected to hold the largest market share by the end of 2035 and provide more business opportunities in the future.
All-Terrain Vehicle Market Report Scope
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