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    All Terrain Vehicles Market Report

    All Terrain Vehicles Market Report
    Report code - SRCG104 Published On : Dec,2021 No. of Pages: 125
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    All-Terrain Vehicles Market Size, Share, Trend, Forecast, Competitive Analysis, and Growth See more...

    Market Insights

    ATVs were introduced to the North American market in 1971 by Honda Motors. Other Japanese major motorcycle manufacturers (Yamaha, Kawasaki, and Suzuki) entered the North American ATV market in the late 1970s and early 1980s. The growth in the ATV market attracted North American companies like Polaris Industries, Arctic Cat, and BRP Inc., which entered the ATV market in 1985, 1995, and 1998 respectively. In addition to major global players, there are a number of other Chinese and Taiwanese manufacturers who produce low combustion chamber engine-based ATVs for the local market. ATVs are well-known for their mobility and off-road capabilities. They're used in several applications such as agriculture, surveying and patrolling, law enforcement, sports, forestry, among others. These vehicles are typically used off-road; however, a few regions allow them to be driven on public routes.

    Side by Side is another off-road vehicle type and offers many advantages over ATVs, such as a better riding experience, rollover protection bars, and ease of mobility. Over the last ten years, the Off-road industry has noticed a continuous shift from ATVs to Side-by-Side vehicles.

    Unlike other vehicles, such as cars and commercial vehicles that recorded a tremendous decline amid the pandemic, ATVs emerged as a rising star and recorded magnetic growth amid the pandemic, mainly driven by an extraordinary boost in the North American market. Overall, the ATV market registered over 20% growth in the year 2020 in terms of the number of vehicles sold.

    Based on the primary interview results conducted across the value chain, it is estimated that the market may maintain its dazzling growth momentum in the near future. Also, the long-term growth would be healthy keeping the transition from ATVs to SSVs in mind. Overall, the ATV market is likely to grow at a healthy CAGR of 4.8% over the next five years to reach a value of US$ 6.0 billion in 2027.

    Segments' Analysis

    All-Terrain Vehicles Market by Vehicle Type

    Based on the vehicle type, the market is classified as utility, recreational, sports, and youth. Utility is estimated to remain the most preferred vehicle type in the market over the next five years. All of the major players have a large product offering targeting the utility segment. The sports vehicle type is expected to witness the highest growth throughout the forecast period. This is majorly due to the increased applications of ATVs in sports and recreational activities.

    All-Terrain Vehicles Market by Application Type

    Based on the application type, the market is segmented as sports, entertainment, agriculture, military, hunting, and others. More than 50% of the ATV sales come from sports and entertainment applications. These applications are expected to remain the largest types in the next five years as well, owing to an increase in the demand for ATVs for sports applications such as racing in hilly, desert, and ice regions. In addition, the increasing number of adventure enthusiasts around the world also influences the growth of this segment.

    Regional Analysis

    In terms of regions, North America is expected to remain the largest market for all-terrain vehicles during the forecast period, owing to the high demand for powersport vehicles including ATVs in the military, agricultural, sports, entertainment, hunting, forestry, mining, and construction activities. The Year 2020 proved to be invigorating for the ATV manufacturers, particularly for North America. The demand for ATVs soared extremely high, reaching new heights. Asia-Pacific is a relatively small market but is likely to exhibit excellent growth opportunities in the years to come. Markets, such as Australia, China, and India, generate a sizeable demand for ATVs as well as other powersport vehicles.

    Key Players

    The supply chain of this market comprises raw material suppliers, component manufacturers, ATV manufacturers, and distributors. The global ATV market is a consolidated market with the presence of global as well as regional players.

    The key ATV manufacturers are-

    • Arctic Cat Inc.
    • BRP Inc.
    • Polaris Inc.
    • Yamaha Motor Co., Ltd.
    • Honda Motor Co., Ltd.
    • Kawasaki Motors Co., Ltd.
    • Suzuki Motor Corporation

    Research Methodology

    This strategic assessment report, from Stratview Research, provides a comprehensive analysis that reflects today’s all-terrain vehicles market realities and future market possibilities for the forecast period of 2022 to 2027. The report segments and analyzes the market in the most detailed manner in order to provide a panoramic view of the market. The vital data/information provided in the report can play a crucial role for the market participants as well as investors in the identification of the low-hanging fruits available in the market as well as to formulate the growth strategies to expedite their growth process.

    This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools. More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles, have been leveraged to gather the data. We conducted more than 15 detailed primary interviews with the market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.

    Report Features

    This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision making for the existing market players as well as those willing to enter the market. The following are the key features of the report:

    • Market structure: Overview, industry life cycle analysis, supply chain analysis.
    • Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis.
    • Market trend and forecast analysis.
    • Market segment trend and forecast.
    • Competitive landscape and dynamics: Market share, Product portfolio, New Product Launches, etc.
    • Attractive market segments and associated growth opportunities.
    • Emerging trends.
    • Strategic growth opportunities for the existing and new players.
    • Key success factors.

    The all-terrain vehicle's market is segmented into the following categories:

    All-Terrain Vehicles Market Size, Share & Forecast, by Vehicle Type

    • Utility (Trend and Forecast)
    • Recreational Use (Trend and Forecast)
    • Sports (Trend and Forecast)
    • Youth  (Trend and Forecast)

    All-Terrain Vehicles Market Size, Share & Forecast, by Displacement Type

    • Low CC (Trend and Forecast)
    • Mid CC (Trend and Forecast)
    • High CC (Trend and Forecast)

    All-Terrain Vehicles Market Size, Share & Forecast, by Application

    • Sports (Trend and Forecast)
    • Entertainment (Trend and Forecast)
    • Military (Trend and Forecast)
    • Agriculture (Trend and Forecast)
    • Hunting (Trend and Forecast)
    • Others (Trend and Forecast)

    All-Terrain Vehicles Market Size, Share & Forecast, by Region

    • North America (Trend and Forecast)
    • Europe (Trend and Forecast)
    • Asia-Pacific (Trend and Forecast)
    • Rest of the World (Trend and Forecast)

    Report Customization Options

    With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

    Company Profiling

    • Detailed profiling of additional market players (up to three players)
    • SWOT analysis of key players (up to three players)

    Competitive Benchmarking

    • Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances

    Custom Research: Stratview research offers custom research services across the sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry to sales@stratviewresearch.com

    Frequently Asked Questions (FAQs)

    The all-terrain vehicles market is estimated to grow at a CAGR of 4.8% in the coming five years.

    Arctic Cat Inc., BRP Inc., Polaris Inc., Yamaha Motor Co., Ltd., Honda Motor Co., Ltd., Kawasaki Motors Co., Ltd., and Suzuki Motor Corporation are some of the key players in the market.

    North America is estimated to remain dominant region in the all-terrain vehicles market in the coming years.

    sports and entertainment applications are expected to be the largest segments in the all-terrain vehicle market in the coming years.

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