ATV and UTV Market Expecting Potential Growth with Emerging Trends and Business Development Strategy Key Players 2021 – 2030

The Global ATV and UTV Market size was valued to USD 8.99 billion in 2019, and is predicted to reach USD 19.31 billion by 2030, with a CAGR of 7.10% from 2020-2030.

ATV (All-Terrain Vehicles) are known for their capabilities in off-road activities and variable terrains. They hold applications in military, survey, forestry, agriculture, sports, and other sectors. The handling of ATVs requires trained drivers as they are mostly used in remote areas. UTV (Utility-Terrain Vehicles) are high-performance vehicles designed to operate in a more efficient manner than a general-purpose vehicle, with a capacity of two to six people.

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Top Companies: Polaris Industries, Inc., Kawasaki Motors Corp., Deere & Company., U.S.A., Yamaha Motor Co., Ltd., Honda Motor Company, ARCTIC CAT INC., Suzuki, BRP, KYMCO and others.

The global ATV and UTV market share analysis is based on vehicle type, displacement, fuel type, application, end user and geography.

Based on the type of vehicle, the market is segmented into ATV and UTV. Based on displacement, the market is fragmented into 400CC, 400-800 CC, and 800 CC. Based on the fuel type, the market is categorized into Gasoline Powered, Diesel Powered, Electric Powered, and Solar Powered. Based on application, the market is divided into Utility, Sports, and Others. Based on end user, the market is fragmented into Agriculture, Military, Mountaineering, and Others. Geographic breakdown and analysis of each of the previously mentioned segments include regions comprising North America, Europe, Asia-Pacific, and RoW.

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North America is expected to hold the major market share in the global ATV and UTV market throughout the forecast period owing to higher trends in adventure sports activities, presence of more adventure destinations, higher service offerings, well-established infrastructures with increased awareness and multipurpose use of the ATVs and UTVs in this region.

Asia Pacific region is expected to show significant growth with constant increase in market share over the forecast period owing to the increase in per-capita disposable income and evolution of the emerging economies. Furthermore, increase in the development of hilly areas, inclination of youth towards adventure sports activities, as well as higher adoption of ATVs and UTVs in defense and military sector, are fostering the growth of ATV and UTV market in this region.

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