The North America All-terrain Vehicle Market would witness market growth of 3.6% CAGR during the forecast period (2021-2027).
All-terrain vehicles with two seats are meant to transport both the rider and the passenger. Two-seat all-terrain vehicles are commonly used for leisure riding, freight transport, towing, and transporting, among other things. Sport ATVs, on the other hand, are smaller, lighter, and built for quick, extreme riding. Due to a shift in consumer patterns and preferences for two-seater ATVs and their related benefits for recreational and occupational purposes, the demand for two-seater ATVs is expected to rise in the upcoming period. Companies are rethinking their designs and models at the same time to suit changes in customer buying patterns and to develop ATVs with multiple passenger capacities. For example, Polaris introduced the RANGER SP 570 in September 2021, which comes in two-seat crew variants with a 44 horsepower ProStar 570 engine and a towing capability of 1,500 pounds.
Furthermore, the industry is predicted to rise due to substantial government support for the construction of off-road vehicle adventure routes. For example, the US Forest Service created the Travel Management and Off-Highway Vehicle initiative to raise trail availability knowledge. Increased investments in improving vehicle performance, like output, torque, and maneuverability, will help the industry advance. Due to technological advancements, electric drive trains can now handle a wider range of terrains and provide increased stability. Also, manufacturers are gradually adding new versions with high-end stereos, GPS screens, and plush upholstery to smooth out the ride across rough terrains.
Despite the pandemic, the North American market had a strong sales year in 2020, with all-terrain vehicles seeing a considerable increase as the desire for outdoor and adventurous activities grew among the youth. The ATV market in the region is being driven by rising leisure spending and an increase in the number of off-roading events. Furthermore, the availability of a diverse selection of ATVs at varying pricing is expected to boost growth throughout the forecast period.
The Recreational Off-Highway Vehicle Association (ROHVA), the United States Consumer Product Safety Commission (CPSC), and the United States Environmental Protection Agency (EPA) established numerous regulations regarding ATV usage and occupant safety in order to mitigate the impact of the impediments. Thus, government initiatives and the increased interest of the youth in recreational events are projected to propel the off-road vehicle market in the region to new heights over the forecast period.
The US market dominated the North America All-terrain Vehicle Market by Country in 2020, and would continue to be a dominant market till 2027; thereby, achieving a market value of $1,153.5 Million by 2027. The Canada market is anticipated to grow at a CAGR of 6% during (2021 - 2027). Additionally, The Mexico market would experience a CAGR of 5.1% during (2021 - 2027).
Based on Application, the market is segmented into Recreational, Sports, Military & Defense and Agriculture. Based on Engine Type, the market is segmented into 400cc-800cc, below 400cc, and above 800cc. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
Free Valuable Insights: The Global All-terrain Vehicle Market is Estimated to reach $3.8 Billion by 2027, at a CAGR of 4.2%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Textron, Inc., Bombardier Recreational Products, Inc., Zhejiang CFMoto Power Co., Ltd., Polaris, Inc., Deere & Company, Kwang Yang Motor Company Ltd., Suzuki Motor Corporation, Honda Motor Co. Ltd., Yamaha Motor Co., Ltd., and Kawasaki Heavy Industries, Ltd.
Scope of the Study
Market Segments Covered in the Report:
By Application
- Recreational
- Sports
- Military & Defense
- Agriculture
By Engine Type
- 400cc-800cc
- Below 400cc
- Above 800cc
By Country
- US
- Canada
- Mexico
- Rest of North America
Key Market Players
List of Companies Profiled in the Report:
- Textron, Inc.
- Bombardier Recreational Products, Inc.
- Zhejiang CFMoto Power Co., Ltd.
- Polaris, Inc.
- Deere & Company
- Kwang Yang Motor Company Ltd.
- Suzuki Motor Corporation
- Honda Motor Co. Ltd.
- Yamaha Motor Co., Ltd.
- Kawasaki Heavy Industries, Ltd.
Chapter 1. Market Scope & Methodology
1.1 Market Definition
1.2 Objectives
1.3 Market Scope
1.4 Segmentation
1.4.1 North America All-terrain Vehicle Market, by Application
1.4.2 North America All-terrain Vehicle Market, by Engine Type
1.4.3 North America All-terrain Vehicle Market, by Country
1.5 Methodology for the research
Chapter 2. Market Overview
2.1 Introduction
2.1.1 Overview
2.1.1.1 Market Composition and Scenario
2.2 Key Factors Impacting the Market
2.2.1 Market Drivers
2.2.2 Market Restraints
Chapter 3. Competition Analysis - Global
3.1 KBV Cardinal Matrix
3.2 Recent Industry Wide Strategic Developments
3.2.1 Partnerships, Collaborations and Agreements
3.2.2 Product Launches and Product Expansions
3.2.3 Acquisition and Mergers
3.2.4 Geographical Expansions
3.3 Top Winning Strategies
3.3.1 Key Leading Strategies: Percentage Distribution (2017-2021)
3.3.2 Key Strategic Move: (Product Launches and Product Expansions: 2018, May – 2021, Dec) Leading Players
Chapter 4. North America All-terrain Vehicle Market by Application
4.1 North America Recreational Market by Country
4.2 North America Sports Market by Country
4.3 North America Military & Defense Market by Country
4.4 North America Agriculture Market by Country
Chapter 5. North America All-terrain Vehicle Market by Engine Type
5.1 North America 400cc-800cc Market by Country
5.2 North America Below 400cc Market by Country
5.3 North America Above 800cc Market by Country
Chapter 6. North America All-terrain Vehicle Market by Country
6.1 US All-terrain Vehicle Market
6.1.1 US All-terrain Vehicle Market by Application
6.1.2 US All-terrain Vehicle Market by Engine Type
6.1.3 Canada All-terrain Vehicle Market
6.1.4 Canada All-terrain Vehicle Market by Application
6.1.5 Canada All-terrain Vehicle Market by Engine Type
6.2 Mexico All-terrain Vehicle Market
6.2.1 Mexico All-terrain Vehicle Market by Application
6.2.2 Mexico All-terrain Vehicle Market by Engine Type
6.3 Rest of North America All-terrain Vehicle Market
6.3.1 Rest of North America All-terrain Vehicle Market by Application
6.3.2 Rest of North America All-terrain Vehicle Market by Engine Type
Chapter 7. Company Profiles
7.1 Textron, Inc.
7.1.1 Company Overview
7.1.2 Financial Analysis
7.1.3 Regional & Segmental Analysis
7.1.4 Research & Development Expenses
7.1.5 Recent strategies and developments:
7.1.5.1 Partnerships, Collaborations, and Agreements:
7.1.5.2 Product Launches and Product Expansions:
7.1.5.3 Acquisition and Mergers:
7.2 Bombardier Recreational Products, Inc.
7.2.1 Company Overview
7.2.2 Recent strategies and developments:
7.2.2.1 Geographical Expansions:
7.3 Zhejiang CFMoto Power Co., Ltd.
7.3.1 Company Overview
7.3.2 Recent strategies and developments:
7.3.2.1 Product Launches and Product Expansions:
7.4 Polaris, Inc.
7.4.1 Company Overview
7.4.2 Financial Analysis
7.4.3 Regional & Segmental Analysis
7.4.4 Research & Development Expenses
7.4.5 Recent strategies and developments:
7.4.5.1 Partnerships, Collaborations, and Agreements:
7.4.5.2 Product Launches and Product Expansions:
7.5 Deere & Company
7.5.1 Company Overview
7.5.2 Financial Analysis
7.5.3 Regional & Segmental Analysis
7.5.4 Research & Development Expenses
7.6 Kwang Yang Motor Company Ltd.
7.6.1 Company Overview
7.7 Suzuki Motor Corporation
7.7.1 Company Overview
7.7.2 Financial Analysis
7.7.3 Regional & Segmental Analysis
7.7.4 Research & Development Expenses
7.7.5 Recent strategies and developments:
7.7.5.1 Product Launches and Product Expansions:
7.8 Honda Motor Co. Ltd.
7.8.1 Company Overview
7.8.2 Financial Analysis
7.8.3 Segmental and Regional Analysis
7.8.4 Research & Development Expense
7.8.5 SWOT Analysis
7.9 Yamaha Motor Co., Ltd.
7.9.1 Company Overview
7.9.2 Financial Analysis
7.9.3 Segmental and Regional Analysis
7.9.4 Research & Development Expense
7.10. Kawasaki Heavy Industries, Ltd.
7.10.1 Company Overview
7.10.2 Financial Analysis
7.10.3 Segmental and Regional Analysis
7.10.4 Research & Development Expense
TABLE 1 North America All-terrain Vehicle Market, 2017 - 2020, USD Million
TABLE 2 North America All-terrain Vehicle Market, 2021 - 2027, USD Million
TABLE 3 Partnerships, Collaborations and Agreements – All-terrain Vehicle Market
TABLE 4 Product Launches And Product Expansions – All-terrain Vehicle Market
TABLE 5 Acquisition and Mergers – All-terrain Vehicle Market
TABLE 6 Geographical Expansions – All-terrain Vehicle Market
TABLE 7 North America All-terrain Vehicle Market by Application, 2017 - 2020, USD Million
TABLE 8 North America All-terrain Vehicle Market by Application, 2021 - 2027, USD Million
TABLE 9 North America Recreational Market by Country, 2017 - 2020, USD Million
TABLE 10 North America Recreational Market by Country, 2021 - 2027, USD Million
TABLE 11 North America Sports Market by Country, 2017 - 2020, USD Million
TABLE 12 North America Sports Market by Country, 2021 - 2027, USD Million
TABLE 13 North America Military & Defense Market by Country, 2017 - 2020, USD Million
TABLE 14 North America Military & Defense Market by Country, 2021 - 2027, USD Million
TABLE 15 North America Agriculture Market by Country, 2017 - 2020, USD Million
TABLE 16 North America Agriculture Market by Country, 2021 - 2027, USD Million
TABLE 17 North America All-terrain Vehicle Market by Engine Type, 2017 - 2020, USD Million
TABLE 18 North America All-terrain Vehicle Market by Engine Type, 2021 - 2027, USD Million
TABLE 19 North America 400cc-800cc Market by Country, 2017 - 2020, USD Million
TABLE 20 North America 400cc-800cc Market by Country, 2021 - 2027, USD Million
TABLE 21 North America Below 400cc Market by Country, 2017 - 2020, USD Million
TABLE 22 North America Below 400cc Market by Country, 2021 - 2027, USD Million
TABLE 23 North America Above 800cc Market by Country, 2017 - 2020, USD Million
TABLE 24 North America Above 800cc Market by Country, 2021 - 2027, USD Million
TABLE 25 North America All-terrain Vehicle Market by Country, 2017 - 2020, USD Million
TABLE 26 North America All-terrain Vehicle Market by Country, 2021 - 2027, USD Million
TABLE 27 US All-terrain Vehicle Market, 2017 - 2020, USD Million
TABLE 28 US All-terrain Vehicle Market, 2021 - 2027, USD Million
TABLE 29 US All-terrain Vehicle Market by Application, 2017 - 2020, USD Million
TABLE 30 US All-terrain Vehicle Market by Application, 2021 - 2027, USD Million
TABLE 31 US All-terrain Vehicle Market by Engine Type, 2017 - 2020, USD Million
TABLE 32 US All-terrain Vehicle Market by Engine Type, 2021 - 2027, USD Million
TABLE 33 Canada All-terrain Vehicle Market, 2017 - 2020, USD Million
TABLE 34 Canada All-terrain Vehicle Market, 2021 - 2027, USD Million
TABLE 35 Canada All-terrain Vehicle Market by Application, 2017 - 2020, USD Million
TABLE 36 Canada All-terrain Vehicle Market by Application, 2021 - 2027, USD Million
TABLE 37 Canada All-terrain Vehicle Market by Engine Type, 2017 - 2020, USD Million
TABLE 38 Canada All-terrain Vehicle Market by Engine Type, 2021 - 2027, USD Million
TABLE 39 Mexico All-terrain Vehicle Market, 2017 - 2020, USD Million
TABLE 40 Mexico All-terrain Vehicle Market, 2021 - 2027, USD Million
TABLE 41 Mexico All-terrain Vehicle Market by Application, 2017 - 2020, USD Million
TABLE 42 Mexico All-terrain Vehicle Market by Application, 2021 - 2027, USD Million
TABLE 43 Mexico All-terrain Vehicle Market by Engine Type, 2017 - 2020, USD Million
TABLE 44 Mexico All-terrain Vehicle Market by Engine Type, 2021 - 2027, USD Million
TABLE 45 Rest of North America All-terrain Vehicle Market, 2017 - 2020, USD Million
TABLE 46 Rest of North America All-terrain Vehicle Market, 2021 - 2027, USD Million
TABLE 47 Rest of North America All-terrain Vehicle Market by Application, 2017 - 2020, USD Million
TABLE 48 Rest of North America All-terrain Vehicle Market by Application, 2021 - 2027, USD Million
TABLE 49 Rest of North America All-terrain Vehicle Market by Engine Type, 2017 - 2020, USD Million
TABLE 50 Rest of North America All-terrain Vehicle Market by Engine Type, 2021 - 2027, USD Million
TABLE 51 Key information – Textron, Inc.
TABLE 52 Key information – Bombardier Recreational Products, Inc.
TABLE 53 Key information – Zhejiang CFMoto Power Co., Ltd.
TABLE 54 Key information – Polaris, Inc.
TABLE 55 Key information – Deere & Company
TABLE 56 Key information – Kwang Yang Motor Company Ltd.
TABLE 57 Key information – Suzuki Motor Corporation
TABLE 58 key Information – Honda Motor Co. Ltd.
TABLE 59 Key Information – Yamaha Motor Co., Ltd.
TABLE 60 Key Information – Kawasaki Heavy Industries, Ltd.
List of Figures
FIG 1 Methodology for the research
FIG 2 KBV Cardinal Matrix
FIG 3 Key Leading Strategies: Percentage Distribution (2017-2021)
FIG 4 Key Strategic Move: (Product Launches and Product Expansions: 2018, May – 2021, Dec) Leading Players
FIG 5 Recent strategies and developments: Textron, Inc.
FIG 6 Recent strategies and developments: Polaris, Inc.
FIG 7 SWOT ANALYSIS: HONDA MOTORS CO. LTD.