All-Terrain Vehicle Market Analysis By Type(Utility all-terrain vehicle, Sport all-terrain vehicle), By Fuel Type(Gasoline Powered, Diesel Powered, Electric Powered, Solar Powered), By Engine Capacity(Less than 400 CC, Between 400 CC and 800 CC, Greater than 800 CC), By End Use(Agriculture, Sports, Entertainment, Military & Defense) & Forecast 2024-2035
- PUBLISHED ON
- 9/22/2022
- NO OF PAGES
- 242
- CATEGORY
- Automotive & Transportation
Market Overview:
The Global All-Terrain Vehicle (ATV) Market size was valued at around USD 3.3 billion in 2021 and is expected to grow at a CAGR of 6.4% during the projected period. The global all-terrain vehicle (ATV) market is a growing industry, driven by increasing demand for recreational activities and utility applications across various regions. ATVs are off-road vehicles designed for use in rugged terrains, and they are popular among adventure seekers and outdoor enthusiasts.
Covid-19 Impact:
The COVID-19 pandemic had a mixed impact on the all-terrain vehicle (ATV) market. Initially, the market faced a significant decline in demand due to the imposition of lockdowns and travel restrictions, which led to the closure of recreational areas and a decline in outdoor activities. Moreover, the disruption in the supply chain and manufacturing activities due to the closure of factories and transportation restrictions affected the production and distribution of ATVs.
However, as the pandemic continued, there was a shift in consumer preferences towards outdoor recreational activities as people sought ways to escape from the confinement of their homes. This led to a rebound in the demand for ATVs, particularly in regions with a higher number of COVID-19 cases and stricter lockdown measures. The demand was primarily driven by individual consumers, who preferred outdoor recreational activities to maintain social distancing.
Furthermore, the market players adapted to the changing market conditions by focusing on e-commerce and digital marketing to reach consumers, and implementing safety measures in their production and distribution facilities. This helped to maintain the supply chain and meet the demand for ATVs during the pandemic.
In summary, the COVID-19 pandemic initially had a negative impact on the ATV market, but it rebounded due to the shift in consumer preferences towards outdoor recreational activities. The market players also adapted to the changing market conditions, which helped to maintain the supply chain and meet the demand.
Market Dynamics:
Drivers:
Increasing demand for recreational activities: The growing popularity of outdoor recreational activities such as off-roading, camping, and hunting has led to an increase in demand for ATVs.
Versatility and applications in various industries: ATVs have utility applications in various industries such as agriculture, forestry, and construction. They are used for hauling, plowing, and towing equipment, among other applications.
Technological advancements and product innovations: The market players are continuously focusing on product innovation and development to meet the changing consumer preferences and remain competitive in the market.
Growing investments in outdoor recreational infrastructure: Governments and private organizations are investing in the development of outdoor recreational infrastructure, such as parks and trails, which is driving the market growth.
Restraints:
High cost of ownership and maintenance: ATVs can be expensive to purchase, and their maintenance and repair costs can also be high, which may limit their adoption, particularly in price-sensitive markets.
Environmental concerns: The use of ATVs can have a negative impact on the environment, particularly in ecologically sensitive areas. This has raised concerns among environmentalists, and governments may impose restrictions on their use, which could affect the market growth.
Regional Analysis:
North America: North America is the largest market for ATVs, primarily driven by the increasing demand for outdoor recreational activities and the presence of major market players. The US and Canada are the key markets in the region.
Europe: The European ATV market is driven by the growing demand for sports and recreational activities, particularly in countries such as Germany, France, and the UK.
Asia Pacific: The Asia Pacific ATV market is expected to grow at a significant rate due to the increasing disposable income and urbanization in countries such as China, India, and Japan. The market is also driven by the growing demand for agricultural and utility applications.
Rest of the World: The Rest of the World ATV market is driven by the growing demand for recreational activities and increasing investments in outdoor recreational infrastructure in countries such as Brazil and South Africa.
In terms of market share, North America dominates the market, followed by Europe and Asia Pacific. However, the Asia Pacific region is expected to witness the highest growth rate due to the increasing demand for recreational activities and rising investments in infrastructure.
Market segmentation:
The all-terrain vehicle (ATV) market can be segmented based on the following criteria:
Type: The market can be segmented into utility ATVs, sports ATVs, and side-by-side ATVs.
Engine Capacity: The market can be segmented based on engine capacity into below 400cc, 400-800cc, and above 800cc.
Application: The market can be segmented based on application into sports, entertainment, agriculture, forestry, and military & defense.
Fuel Type: The market can be segmented based on fuel type into gasoline and electric ATVs.
Region: The market can be segmented based on region into North America, Europe, Asia Pacific, and Rest of the World.
Competition Landscape:
The all-terrain vehicle (ATV) market is highly competitive, with numerous players competing on the basis of product quality, features, and pricing.
Some of the key players in the market include:
Polaris Inc.
Yamaha Motor Corporation
Honda Motor Co., Ltd.
BRP Inc.
Arctic Cat Inc.
Kawasaki Motors Corp.
Suzuki Motor Corporation
CFMOTO Powersports Inc.
Textron Inc.
KTM AG
Others**
These companies are involved in product innovation, strategic partnerships, and acquisitions to gain a competitive edge in the market. For instance, Polaris Inc. has been focusing on product innovation and has launched several new models, such as the Ranger XP 1000, Sportsman XP 1000, and RZR XP 1000. Yamaha Motor Corporation has been expanding its product portfolio with the launch of new models, such as the Raptor 700R and Kodiak 450.
BRP Inc. has been focusing on strategic partnerships to expand its market reach. It has collaborated with other companies such as Mahindra & Mahindra Ltd. and Fédération Internationale de Motocyclisme (FIM) to strengthen its market position. Kawasaki Motors Corp. has been focusing on product innovation and has launched new models such as the Brute Force 750 4x4i and Teryx4 LE.
The competition in the ATV market is intense, and companies are focusing on product innovation, strategic partnerships, and acquisitions to maintain their market position and gain a competitive edge. The market players are also expanding their presence in emerging markets such as Asia Pacific to capitalize on the growth opportunities in these regions.
Global All-Terrain Vehicle Market: Regional Analysis
All the regional segmentation has been studied based on recent and future trends, and the market is forecasted throughout the prediction period. The countries covered in the regional analysis of the Global All-Terrain Vehicle market report are U.S., Canada, and Mexico in North America, Germany, France, U.K., Russia, Italy, Spain, Turkey, Netherlands, Switzerland, Belgium, and Rest of Europe in Europe, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, China, Japan, India, South Korea, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), and Argentina, Brazil, and Rest of South America as part of South America.
Global All-Terrain Vehicle Market: Market Size Estimation
Both the top-down and bottom-up approaches were used to estimate and validate the size of the market and to estimate the size of various other dependent sub-markets of various marketspaces. The key players in the markets are identified through secondary research, and their market contributions in different applications across regions and globally were determined through primary and secondary research. This entire process included the study of the annual and financial reports of the top market players and extensive interviews for key insights with industry leaders such as CEOs, VPs, directors, and marketing executives. All percentage shares, splits, and breakdowns were determined using secondary sources and verified through primary sources. All the possible parameters that affect the market covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analysed to arrive at the final quantitative and qualitative data. This data has been consolidated, and detailed inputs and analysis from Analytics Market Research added before being presented in this report.
Frequently Asked Questions
• What is the market size and growth projections?
• What is the market size and growth projection for each of the market segments and sub-segments across Countries & Regions?
• What are the top performing segments, and countries / regions of each of the markets?
• What is the market size and growth rate across key countries / regions?
• How big is the global & regional market in terms of revenue and volume?
• How far market will grow in forecast period in terms of revenue and volume?
• What factors will influence demand and supply trends across each markets during the forecast period?
• What are the technology trends shaping various markets?
• Which country / region has more opportunities?
• What is the COVID-19 impact on the market and how long will it take to recover?
• Who are the key competitors of market Players?
• What are the market share (%) of Key Players?
• What are the Merger & Acquisition, New Product Launch, Recent Development within each of the Markets?
• What are PEST analysis, Ecosystem Analysis, Porter's Five Forecast Analysis, Ansoff Matrix, and SWOT Analysis among other analyses for diverse markets?
Historic Year: 2016-2022
Forecast: 2024-2035
1. Global All-terrain Vehicle Market Introduction and Market Overview
1.1. Objectives of the Study
1.2. Global All-terrain Vehicle Market Scope and Market Estimation
1.2.1.Global All-terrain Vehicle Overall Market Size, Revenue & Volume (US$ Mn & Thousand Units), Market CAGR (%), Market forecast (2023 - 2032)
1.2.2.Global All-terrain Vehicle Market Revenue Share (%) and Growth Rate (Y-o-Y) from 2019 - 2032
1.3. Market Segmentation
1.3.1.Type of Global All-terrain Vehicle Market
1.3.2.Fuel Type of Global All-terrain Vehicle Market
1.3.3.Engine Capacity of Global All-terrain Vehicle Market
1.3.4.End Use of Global All-terrain Vehicle Market
1.3.5.Region of Global All-terrain Vehicle Market
2. Executive Summary
3. Market Factor Analysis
3.1. Global All-terrain Vehicle Market Industry Trends under COVID-19 Outbreak
3.1.1.Global COVID-19 Status Overview
3.1.2.Influence of COVID-19 Outbreak on Global All-terrain Vehicle Market Industry Development
3.2. Market Dynamics, By Region
3.2.1.Drivers
3.2.2.Limitations
3.2.3.Opportunities
3.2.4.Impact Analysis of Drivers and Restraints
3.3. Ecosystem / Value Chain Analysis
3.3.1.Raw Materials / Components Suppliers
3.3.2.Manufacturers / Vendors
3.3.3.Distributors
3.3.4.Buyers / End-users
3.3.5.Forward Integration & Backward Integration of Key Stakeholders
3.4. Global All-terrain Vehicle Market - Pricing Trends Analysis & Average Selling Prices (ASPs)
3.5. End-User / Customer Preferences & Consumer Surveys
3.6. Technology Roadmap & Key Innovations /Developments
3.7. Key Mandates & Regulatory Scenario Analysis
3.8. Patents Landscape
3.9. Import & Export, By Countries (USD Million)
3.10. Key Mergers & Acquisitions, Expansions, JVs, Funding / VCs, etc.
3.11. Porter’s Five Forces Analysis
3.11.1. Bargaining Power of Suppliers
3.11.2. Bargaining Power of Buyers
3.11.3. Threat of Substitutes
3.11.4. Threat of New Entrants
3.11.5. Competitive Rivalry
3.12. PEST Analysis
3.12.1. Political Factors
3.12.2. Economic Factors
3.12.3. Social Factors
3.12.4. Technological Factors
3.13. SWOT Analysis
3.14. Russia-Ukraine War Impacts Analysis
3.15. ANSOFF Matrix
3.15.1. Market Penetration Strategy
3.15.2. Product Development Strategy
3.15.3. Market Development Strategy
3.15.4. Diversification Strategy
3.16. Inflation Impacts Analysis
3.16.1. Supply Side Impacts
3.16.2. Demand Side Impacts
3.16.3. Outlook in 2023 & Beyond
3.17. Market Investment Feasibility Analysis
3.18. Opportunity Map Analysis
3.19. Market Investment Opportunity Analysis (Top Investment Pockets), By Segments & By Regions
4. Global All-terrain Vehicle Market Estimates & Historical Trend Analysis (2019 - 2022)
5. Global All-terrain Vehicle Market Estimates & Forecast Trend Analysis, by Type
5.1. Global All-terrain Vehicle Market Revenue & Volume (US$ Mn & Thousand Units) Estimates and Forecasts, by Type, 2019 to 2032
5.1.1.Utility all-terrain vehicle
5.1.2.Sport all-terrain vehicle
5.1.3.Others
6. Global All-terrain Vehicle Market Estimates & Forecast Trend Analysis, by Fuel Type
6.1. Global All-terrain Vehicle Market Revenue & Volume (US$ Mn & Thousand Units) Estimates and Forecasts, by Fuel Type, 2019 to 2032
6.1.1.Gasoline Powered
6.1.2.Diesel Powered
6.1.3.Electric Powered
6.1.4.Solar Powered
7. Global All-terrain Vehicle Market Estimates & Forecast Trend Analysis, by Engine Capacity
7.1. Global All-terrain Vehicle Market Revenue & Volume (US$ Mn & Thousand Units) Estimates and Forecasts, by Engine Capacity, 2019 to 2032
7.1.1.Less than 400 CC
7.1.2.Between 400 CC and 800 CC
7.1.3.Greater than 800 CC
8. Global All-terrain Vehicle Market Estimates & Forecast Trend Analysis, by End Use
8.1. Global All-terrain Vehicle Market Revenue & Volume (US$ Mn & Thousand Units) Estimates and Forecasts, by End Use, 2019 to 2032
8.1.1.Agriculture
8.1.2.Sports
8.1.3.Entertainment
8.1.4.Military & Defense
8.1.5.Others
9. Global All-terrain Vehicle Market Estimates & Forecast Trend Analysis, by Region
9.1. Global All-terrain Vehicle Market Revenue & Volume (US$ Mn & Thousand Units) Estimates and Forecasts, by Region, 2019 to 2032
9.1.1.North America
9.1.2.Europe
9.1.3.Asia Pacific
9.1.4.Middle East & Africa
9.1.5.South America
10. North America All-terrain Vehicle Market: Estimates & Forecast Trend Analysis
10.1. North America All-terrain Vehicle Market Assessments & Key Findings
10.1.1. All-terrain Vehicle Market Introduction
10.1.2. All-terrain Vehicle Market Size & Volume Estimates and Forecast (US$ Million & Thousand Units) (2019 – 2031)
10.1.2.1. By Type
10.1.2.2. By Fuel Type
10.1.2.3. By Engine Capacity
10.1.2.4. By End Use
10.1.2.5. By Country
10.1.2.5.1. The U.S.
10.1.2.5.2. Canada
10.1.2.5.3. Mexico
11. Europe All-terrain Vehicle Market: Estimates & Forecast Trend Analysis
11.1. Europe All-terrain Vehicle Market Assessments & Key Findings
11.1.1. All-terrain Vehicle Market Introduction
11.1.2. All-terrain Vehicle Market Size & Volume Estimates and Forecast (US$ Million & Thousand Units) (2019 – 2031)
11.1.2.1. By Type
11.1.2.2. By Fuel Type
11.1.2.3. By Engine Capacity
11.1.2.4. By End Use
11.1.2.5. By Country
11.1.2.5.1. Germany
11.1.2.5.2. U.K.
11.1.2.5.3. France
11.1.2.5.4. Italy
11.1.2.5.5. Spain
11.1.2.5.6. Russia
11.1.2.5.7. Rest of Europe
12. Asia Pacific All-terrain Vehicle Market: Estimates & Forecast Trend Analysis
12.1. Asia Pacific Market Assessments & Key Findings
12.1.1. All-terrain Vehicle Market Introduction
12.1.2. All-terrain Vehicle Market Size & Volume Estimates and Forecast (US$ Million & Thousand Units) (2019 – 2031)
12.1.2.1. By Type
12.1.2.2. By Fuel Type
12.1.2.3. By Engine Capacity
12.1.2.4. By End Use
12.1.2.5. By Country
12.1.2.5.1. China
12.1.2.5.2. Japan
12.1.2.5.3. India
12.1.2.5.4. Australia
12.1.2.5.5. South Korea
12.1.2.5.6. ASEAN
12.1.2.5.7. Rest of Asia Pacific
13. Middle East & Africa All-terrain Vehicle Market: Estimates & Forecast Trend Analysis
13.1. Middle East & Africa Market Assessments & Key Findings
13.1.1. All-terrain Vehicle Market Introduction
13.1.2. All-terrain Vehicle Market Size & Volume Estimates and Forecast (US$ Million & Thousand Units) (2019 – 2031)
13.1.2.1. By Type
13.1.2.2. By Fuel Type
13.1.2.3. By Engine Capacity
13.1.2.4. By End Use
13.1.2.5. By Country
13.1.2.5.1. U.A.E.
13.1.2.5.2. Saudi Arabia
13.1.2.5.3. Egypt
13.1.2.5.4. South Africa
13.1.2.5.5. Rest of Middle East & Africa
14. South America All-terrain Vehicle Market: Estimates & Forecast Trend Analysis
14.1. South America Market Assessments & Key Findings
14.1.1. All-terrain Vehicle Market Introduction
14.1.2. All-terrain Vehicle Market Size & Volume Estimates and Forecast (US$ Million & Thousand Units) (2019 – 2031)
14.1.2.1. By Type
14.1.2.2. By Fuel Type
14.1.2.3. By Engine Capacity
14.1.2.4. By End Use
14.1.2.5. By Country
14.1.2.5.1. Brazil
14.1.2.5.2. Argentina
14.1.2.5.3. Colombia
14.1.2.5.4. Rest of South America
15. Competition Landscape
15.1. All-terrain Vehicle Market Competition Index, By Leading Players
15.2. All-terrain Vehicle Market Competition Matrix & Benchmarking, by Leading Players / Innovators / Emerging Players / New Entrants
15.3. All-terrain Vehicle Market Competition White Space Analysis, By Applications / End-user
15.4. All-terrain Vehicle Market Competition Heat Map Analysis, By Products / Services / Solutions
15.5. All-terrain Vehicle Market Competition Regional Intensity Map Analysis, By Geographies Served
15.6. All-terrain Vehicle Market Concentration & Company Market Shares (%) Analysis, 2022
16. Company Profiles
16.1. BRP Inc
16.1.1. Company Overview & Key Stats
16.1.2. Financial Performance & KPIs
16.1.3. Product / Service / Solutions Portfolio & Applications / End-uses
16.1.4. Business Strategy & Recent Developments
* Similar details would be provided for all the players mentioned below
16.2. CFMOTO
16.3. Deere & Company
16.4. Hisun Motors Corp
16.5. Honda Motor Co., Ltd
16.6. Kawasaki Heavy Industries Ltd
16.7. KUBOTA Corporation
16.8. Kwang Yang Motor Co., Ltd
16.9. Polaris Industries, Inc
16.10. Suzuki Motor Corporation
16.11. Textron Inc
16.12. Yamaha Motor Co., Ltd
16.13. Others**
17. Research Methodology
17.1. External Sources / Databases
17.2. Internal Proprietary Database
17.3. Primary Research
17.4. Secondary Research
17.5. Assumptions
17.6. Limitations
17.7. Report FAQs
18. Research Findings & Conclusion
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Case Study- Automotive Sector
One of the key manufacturers of automotive had plans to invest in electric utility vehicles. The electric cars and associated markets being a of evolving nature, the automotive client approached Straits Research for a detailed insight on the market forecasts. The client specifically asked for competitive analysis, regulatory framework, regional prospects studied under the influence of drivers, challenges, opportunities, and pricing in terms of revenue and sales (million units).
Solution
The overall study was executed in three stages, intending to help the client meet its objective of precisely understanding the entire market before deciding on an investment. At first, secondary research was conducted considering political, economic, social, and technological parameters to get a gist of the various aspects of the market. This stage of the study concluded with the derivation of drivers, opportunities, and challenges. It also laid substantial emphasis on understanding and collecting data not only on a global scale but also on the regional and country levels. Data Extraction through Primary Research
The second stage involved primary research in which several market players and automotive parts suppliers were contacted to study their viewpoint concerning the development of their market and production capacity, clientele, and product line. This stage concluded in a brief understanding of the competitive ecosystem and also glanced through the strategies and pricing of the companies profiled.
Market Estimates and Forecast
In the final stage of the study, market forecasts for the electric utility were derived using multiple market engineering approaches. This data helped the client to get an overview of the market and accelerate the process of investment.
Case Study- ICT Sector
Business process outsourcing, being one of the lucrative markets from both supply- and demand- side, has appealed to various companies. One of the prominent corporations based out of Japan approached us with their requirements regarding the scope of the procurement outsourcing market for around 50 countries. Additionally, the client also sought key players operating in the market and their revenue breakdown in terms of region and application.
Business Solution
An exhaustive market study was conducted based on primary and secondary research that involved factors such as labor costs in various countries, skilled and technical labors, manufacturing scenario, and their respective contributions in the global GDP. A comparative study of the market was conducted from both supply- and demand side, with the supply-side comprising of notable companies, such as GEP, Accenture, and others, that provide these services. On the other hand, large manufacturing companies from them demand-side were considered that opt for these services.
Conclusion
The report aided the client in understanding the market trends, including country-level business scenarios, consumer behavior, and trends in 50 countries. The report also provided financial insights of crucial players and detailed market estimations and forecasts till 2028.
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