All-Terrain Vehicle Market

Global All-Terrain Vehicle Market Size (2024 to 2029)

The global all-terrain vehicle market is expected to reach USD 4.53 billion in 2024 and reach USD 5.17 billion by 2029, growing at a CAGR of 2.70% from 2024 to 2029.

All-terrain vehicles (ATVs) are three or more than three-wheeled motorized vehicles with large tires that are generally used for off-street activities. All-terrain vehicles are often employed in vineyards, ranches, farms, and other places. They include maximum quad bikes, smaller side-via aspects, and amphibious motors. In the early 1980s, all-terrain vehicles were first launched in the US for several agricultural uses. Over a decade, all-terrain automobiles have grown increasingly famous for leisure use. The latest trend in the all-terrain motors marketplace is that manufacturing corporations are forming institutions to expand the marketplace by organizing sports events. Over the years, all-terrain motors have turned out to be speedy and heavy for higher stability. According to an estimate, the majority of the all-terrain vehicles utilized in Canada and the Central US are for leisure activities. While in New Zealand and Australia, the majority of them are used for agricultural activities.

Global All-Terrain Vehicle Market Drivers:

An increase in recreational activities is expected to immediately translate to an upward push inside the demand for all-terrain motors because of their functionality in rough terrains. Moreover, the growing use of these vehicles inside the agricultural quarter helps lessen manpower and overall operation costs. This key element is projected to power call for the all-terrain automobiles market. Moreover, technical enhancements in all-terrain vehicles and their improved consumer friendliness also are supporting the demand for this market.

Global All-Terrain Vehicle Market Restraints:

Also, a growth in the accident price associated with these cars and legal guidelines prohibiting their use in public places are hampering the demand for them.

REPORT COVERAGE:

This research report on the global all-terrain vehicle market is segmented and sub-segmented into the following categories.

Global All-Terrain Vehicle Market - By Application:

• Sports
• Entertainment
• Agriculture
• Military & Defense
• Others (Hunting & Forestry)

Recreation holds a sizable share in the all-terrain car marketplace, with an inclination toward hiking and camping. Government companies are organizing multiple applications and providing grants to people concerned with off-toll rad activities. For instance, in 2017, the Oregon Parks & Recreation Department delivered an ATV Program to supply facts associated with off-road car use opportunities. This application also offers investment in emergency medical services and safety education, promoting the segment's growth.
The military will witness a good-sized boom within the marketplace owing to superior mobility furnished for tactical missions. High maneuverability and versatility alongside advanced navigational aids to offer instant instructions for car operators will influence the segment increase. Military organizations are collaborating with OEMs for improving their navy fleet.

Global All-Terrain Vehicle Market - By Type:

• Utility ATV
• Sport ATV

Global All-Terrain Vehicle Market - By Drive Type:

• 2WD
• 4WD
• AWD

AWD is projected to be the fastest-developing section of the all-terrain car market. In AWD ATVs, the engine’s strength is split among all of the wheels of an ATV. AWD ATVs are designed for the active protection of riders, offering them two times the grip. In a tricky situation where the path is slippery and instant adhesive friction is required to move appropriately into a merging terrain, AWDs come to the fore. All the wheels get engaged and supply the required degree of traction to negotiate the course or terrain properly. Increasing ATV production and the rising recognition of safety functions will pressure the marketplace for AWD ATVs in the near future.

Global All-Terrain Vehicle Market - By Seating Capacity:

• One seat
• Two seats

Global All-Terrain Vehicle Market - By Number of Wheels:

• Four wheel
• > Four-wheel

Global All-Terrain Vehicle Market - By Fuel Type:

• Gasoline
• Electric ATV

Global All-Terrain Vehicle Market - By Engine Type:

• <400 CC
• 400 to 800 CC
• >800 CC

Global All-Terrain Vehicle Market – By Region:

• North America 
• Europe
• Asia Pacific 
• Latin America 
• Middle East and Africa 

North America is determined to account for the most substantial share of the overall industry during the outlook period. Factors, for example, appeal for ATVs, forthcoming electric vehicle ventures, high disposable income of individuals, the scope for new and trend-setting technologies, created economy, and government guidelines with respect to ATV designs, have set off the interest for all-terrain vehicles in the area. As per industry insights, the US represents a significant portion of the market, which is inferred from its popularity in applications such as military, agriculture, sports, entertainment, hunting, forestry, mining, and construction exercises. As the interest in ATVs keeps on expanding, the US is relied upon to remain the biggest market in the region. Europe will witness steady growth thanks to increasing OHV calls from the navy segment. Market contributors are developing cars for defense forces to enhance soldier mobility and payload-wearing capacity. For example, in 2013, Oshkosh Defense implemented ATVs with high mobility and benefits. The Asia Pacific will foresee strong growth inside the all-terrain vehicle (ATV) marketplace share because of proliferating tourism enterprises and rising calls for utility programs such as agriculture and farm animal management.

KEY MARKET PLAYERS:

Yamaha Corporation, Arctic Cat Inc., Honda Motor Co. Ltd., Kawasaki Heavy Industries Ltd., Suzuki Motor Corporation, CFMOTO, Inc. HISUN, Deere & Company, KYMCO, Inc., Polaris Industries Inc., some of the market players dominating the global all-terrain vehicle market.

RECENT DEVELOPMENTS IN THE MARKET:

• In Bengaluru, students have recently developed a gearless all-terrain vehicle that constantly collects statistics from one-of-a-kind sensors in its parts because it maneuvers pits, rocky roads, and even forests. The information enables college students to improve their vehicle with every ride.
• An array of contemporary Unmanned Aerial Vehicles (UAVs), fast-assault craft, and all-terrain vehicles (ATVs) will soon bolster the dominion power of the BSF deployed to protect the marshy and arid Rann of Kutch area in India along the Indo-Pak border. The country's 'first line of defense' is also planning to station a few all-climate floating vessels close to the disputed waters in the location along with around Sir Creek and Harami Naala areas, a pinnacle BSF commander said.
• With its two new all-terrain vehicles, Suzuki Motorcycles Asian nation intends to form a powerful foothold in this growing market and pave the approach for future launches in India. At the event, Suzuki Bike Asian nation administrator Masayoshi Ito stated, "With the goal of increasing our line of products in an Asian nation, we've determined to launch 2 of our in-style ATV models within the market, thus showcasing our experience across numerous classes."