The report estimates that the global ATV and UTV market is expected to display a growth rate of 6.65% during the estimated phase 2022-2028.
Factors such as the rising prominence of adventure sports, supportive governmental rules, and growing use of ATVs and UTVs for military activities augment the market's progress. The demand for these quad bikes in the military sector is growing due to their superior mobility for tactical operations. Moreover, the high flexibility and navigational capabilities offer proper directions to operators.
Conversely, driving bans in wildlife locations and high maintenance costs negatively impact the ATV and UTV market's robust growth.
The global ATV and UTV market comprise North America, Asia-Pacific, Europe, Latin America, and the Middle East and Africa regions.
North America dominates the market for ATV and UTV globally and is expected to continue its stronghold till 2028. Numerous prominent companies are introducing new utility vehicles across Canada, influencing the adoption of ATVs and UTVs. For example, Mahindra launched Roxer side-by-side UTV in Canada. Furthermore, there is a great demand for UTVs in the defense industry due to their efficient patrol in combat tactics. Moreover, these quad bikes have gained traction among farmers in the United States. All these factors are augmenting the ATV and UTV market's growth within the North American nations.
The major companies in the ATV and UTV market include Yamaha Motor Co Ltd, Honda Motor Company, Deere and Company, Polaris Industries Inc, Suzuki Motors Corporation, and BRP Inc, Kawasaki Heavy Industries, Kubota Corporation, Textron Inc, Kwang Yang Motor Co Ltd, Hisun, and CFmoto.
Key Topics Covered
1. Global ATV and UTV Market - Summary
2. Industry Outlook
2.1. Key Insights
2.1.1. Growing Use of ATVs on Uneven Roads
2.1.2. Increase in ATV Experience Zones
2.1.3. Growing Penetration of CVTs in ATVs
2.2. Impact of COVID-19 on ATV and UTV Market
2.3. Porter's Five Forces Analysis
2.3.1. Threat of New Entrants
2.3.2. Threat of Substitutes
2.3.3. Bargaining Power of Suppliers
2.3.4. Bargaining Power of Buyers
2.3.5. Threat of Competitive Rivalry
2.4. Key Buying Impact Analysis
2.4.1. Government Regulations
2.5. Market Attractiveness Matrix
2.6. Vendor Scorecard
2.7. Key Market Strategies
2.7.1. Contracts & Partnerships
2.7.2. Business Expansions & Divestitures
2.7.3. New Product Launches
2.8. Market Drivers
2.8.1. Growing Popularity of Adventure Sports
2.8.2. Increasing ATV and UTV Use in Military
2.8.3. Government Rules Supporting ATVs and UTVs
2.9. Market Challenges
2.9.1. Driving Ban in Wildlife Areas
2.9.2. High Maintenance Cost
2.10. Market Opportunities
2.10.1. Production of Safer ATVs and UTVs
3. Global ATV and UTV Market - by Vehicle Type
4. Global ATV and UTV Market - by Displacement
4.1. < 400 (cc)
4.2. 400-800 (cc)
4.3. > 800 (cc)
5. Global ATV and UTV Market - by Fuel Type
6. Global ATV and UTV Market - by End-user
6.3. Agriculture & Utility
6.4. Military & Defense
6.5. Other End-users
7. Global ATV and UTV Market - Regional Outlook
7.1. North America
7.4. Latin America
7.5. Middle East and Africa
8. Competitive Landscape
8.1. BRP Inc.
8.3. Deere and Company
8.5. Honda Motor Company
8.6. Kawasaki Heavy Industries
8.7. Kubota Corporation
8.8. Kwang Yang Motor Co. Ltd.
8.9. Polaris Industries Inc.
8.10. Suzuki Motors Corporation
8.11. Textron Inc.
8.12. Yamaha Motor Co. Ltd.
9. Methodology & Scope
9.1. Research Scope & Deliverables
9.2. Sources of Data
9.3. Research Methodology
For more information about this report visit https://www.researchandmarkets.com/r/plq8ud
View source version on businesswire.com: https://www.businesswire.com/news/home/20220121005410/en/
Laura Wood, Senior Press Manager
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