According to a new report, published by KBV research, The Global ATV and UTV Market size is expected to reach $17.6 billion by 2030, rising at a market growth of 7.6% CAGR during the forecast period.
The ATV segment is showcasing a CAGR of 8.3% during (2023 - 2030). All-Terrain Vehicle generally refers to vehicles with specialized treads or wheels that enable them to commute off-road terrain. ATVs are made especially for navigating rocky, snow, and various rugged terrain. They typically have steering handlebars, low-pressure tires, and a seat for one or more people.
The More Than 800 CC segment is leading the Global ATV and UTV Market by Displacement in 2022, achieving a market value of $8.8 billion by 2030. As off-trailing sports and events gain popularity, demand for ATVs with engines larger than 800cc is anticipated to increase. Off-roading activities and sports necessitate vehicles with larger engine displacement capacities to provide torque competitive advantage. Better ATVs would enable competitions off-road and desert racing competitions, boosting market revenue with a capacity of more than 800cc.
The Electric Powered segment has shown the Growth rate of 8.6% during (2023 - 2030). Electric ATVs and UTVs are gaining popularity for use in agriculture, especially in hilly terrain. Due to their full electrical power, these cars are quieter and emit nearly no tailpipe emissions than their non-electric counterparts. They assist farmers with field surveys, animal and crop inspections, field crew supervision, field plow work, and transportation of supplies, equipment, and produce.
The Mountaineering segment is generating the highest revenue share in the Global ATV and UTV Market by End Use in 2022, achieving a market value of $7.4 billion by 2030. The term "mountaineering" refers to a variety of physical activities that involve sloping terrain. This covers many activities, including ATV rock climbing and ATV hill climbing. The key driver of the mountaineering segment's market growth is the rise of mountain adventure sports like ATV hill climbing, ATV rock climbing, and rock racing, brought on by an increase in thrill-seekers.
The Less Than 50kW segment is anticipated to grow at a CAGR of 7.8% during (2023 - 2030). ATVs with lower power output typically consume less fuel compared to higher-powered models. This can result in cost savings over time, especially for individuals who use their ATVs frequently or for extended periods. Less powerful ATVs are often simpler in design and easier to handle, making them suitable for beginners or riders who prefer a more straightforward riding experience.
The North America market dominated the Global ATV and UTV Market by Region in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $6.2 billion by 2030. The Europe market is experiencing a CAGR of 7.2% during (2023 - 2030). Additionally, The Asia Pacific market would witness a CAGR of 8.3% during (2023 - 2030).
Full Report: https://www.kbvresearch.com/atv-and-utv-market/
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of Bombardier Recreational Products, Inc., Zhejiang CFMoto Power Co., Ltd., Deere & Company, Honda Motor Co. Ltd., Kawasaki Heavy Industries, Ltd., KUBOTA Corporation, Kwang Yang Motor Company Ltd., Suzuki Motor Corporation, Textron, Inc., and Yamaha Motor Co., Ltd.
By Vehicle Type
By Fuel Type
By End User
By Displacement
By Power Output
By Geography
Companies Profiled
Unique Offerings 
