All-Terrain Vehicle Market

SKU: DMAUTR5280 | Last Updated On: Sep 09 2022 | Available Formats

> Global All-Terrain Vehicle Market Expected to reach a high CAGR By 2029: DataM Intelligence.

Global All-Terrain Vehicle Market is Segmented By Drive(Two Wheel Drive, Four Wheel Drive, All Wheel Drive), By Fuel(Gasoline, Electric), By Application(Sports, Tourism, Agriculture, Military & Defense, Hunting & Forestry, Others), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2022-2029

Market Overview

[150 Pages Report] The Global All-Terrain Vehicle Market size is growing at a high CAGR during the forecast period (2022-2029).

All-Terrain Vehicle Market - Strategic Insights

Metrics

Details

Market CAGR

 4.9%

Segments Covered

By Drive, By Fuel, By Application and By Region

Report Insights Covered

Competitive Landscape Analysis, Company Profile Analysis, Market Size, Share, Growth, Demand, Recent Developments, Mergers and acquisitions, New Product Launches, Growth Strategies, Revenue Analysis, and Other key insights.

Fastest Growing Region

Asia Pacific

Largest Market Share 

North America

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The all-terrain vehicle, also known as a light utility vehicle or quad bike, is a four-wheeled vehicle used for traversing all kinds of terrain. All-terrain vehicles are street legal and used for riding over urban roads, dirt roads, hilly terrain, mud and snow. The rider sits on top and operates the all-terrain vehicle like a motorcycle, but the use of extra wheels gives more stability at lower speeds. Most vehicles are equipped with four wheels; three and six-wheel models exist for specialized applications.

Multiple-user analogs with side-by-side seating are called utility terrain vehicles (UTVs) or side-by-sides to distinguish the classes of vehicles. Both classes tend to have similar powertrain parts. Engine sizes of ATVs currently for sale in the major markets range from 49 to 1,000 cc. Electric all-terrain vehicles are also gaining popularity and growing adoption. All-terrain vehicles are used for various purposes such as sports championships, emergency medical services, law enforcement, military patrolling, wildlife control, surveying, forestry management and geographical exploration.

Market Dynamics

The rising demand from end-users applications mainly drives the demand for all-terrain vehicles. It is an important driver for the market. The safety concerns of all-terrain vehicles are a key factor in limiting the growth of this market. 

Rising demand from end-users

The popularity of all-terrain vehicles has exploded in recent years, particularly in sports, entertainment and tourism. Many national and international competitions and championships have opened up for all-terrain vehicles. The ATV National Motocross Championships is an annual sports event held in U.S. since 1985.

The International Federation of Motorcycling (FIM) has organized Quadcross of Nations, an annual European ATV event, since 2009. The world-famous Dakar Rally has included all-terrain vehicles within its vehicle classes since 2019. Middle eastern and gulf countries are using ATV rides to lure adventure tourists. Countries with long stretches of wilderness are using ATVs to promote adventure tourism.

Military and law enforcement have also seen the growing adoption of all-terrain vehicles. Border protection officers use these vehicles to patrol remote border areas. Military patrols also use all-terrain vehicles to traverse long distances in remote terrain, where normal vehicles cannot run. Wildlife control services also use all-terrain vehicles to monitor wildlife in large national parks. The growing demand for all-terrain vehicles from end-users is a key driver for the growth of the market.

Safety concerns about all-terrain vehicles

Growing concerns have been observed about the safety of all-terrain vehicles. The vehicles have powerful engines with relatively lightweight construction, making them far more vulnerable to flipping and crashing. The vehicles also have a high center of gravity, which means turning can overturn the vehicle at high speed. 

High riding speed and unbalanced construction make all-terrain vehicles far more likely to crash than conventional vehicles. The crashes of all-terrain vehicles have led to severe injuries, permanent disabilities and deaths. The all-terrain vehicles also represent a fire hazard since leaking fuel and electrical wiring problems can cause fire after a crash and burn down the vehicle quickly. Many governments have placed severe restrictions on the road and recreational use of all-terrain vehicles due to their safety issues. The safety concerns about all-terrain vehicles have become a key challenge for the growth of the global market.

COVID-19 impact analysis

The global all-terrain vehicle market experienced uneven impacts on value chains in production and sales in 2021 due to the COVID-19 pandemic. Sports and entertainment applications saw steep declines since government-imposed lockdowns and restrictions brought a prolonged halt to recreational activities globally. Many small operators in the tourism and recreational industries were bankrupt due to a collapse in demand.

 Demand from military, wildlife control, agriculture and law enforcement remained steady throughout the pandemic. The COVID-19 pandemic has caused disruptions to supply chains and led to logistical delays. A shortage of components has impacted the production of all-terrain vehicles. Global production is expected to recover by the end of 2021.

The impact of the COVID-19 pandemic has been severe for the all-terrain vehicle market due to depressed sales and production disruptions. The global tourism industry, a key user of all-terrain vehicles, was heavily impacted by the pandemic, but recovery is expected to be rather quick after lifting all pandemic-related restrictions. The demand for all-terrain vehicles remains strong and is expected to grow gradually in the coming years.

Segment Analysis

The global all-terrain vehicle market is segmented into drive, fuel, application and region. The all-terrain vehicle market is further segmented into gasoline and electric based on fuel. Gasoline is leading in this segmentation since it is the most widely used fuel for all-terrain vehicles. Internal combustion engines allow for quick refueling, longer operating range and easy availability of spares, thereby ensuring easy maintenance. All these factors are crucial for working in remote areas. Electric all-terrain vehicles do not offer any of the advantages of gasoline-powered vehicles. Therefore, the adoption of electric all-terrain vehicles is still quite low.

Geographical Analysis

Asia-Pacific has a leading share in the global all-terrain vehicle market. Australia and New Zealand are large remote islands with relatively small populations. People living in rural areas in remote interior parts often use all-terrain vehicles for commuting. Emergency services and law enforcement also use all-terrain vehicles to patrol and mount search and rescue operations. Remote Pacific island nations like Samoa, Fiji, Tonga and Tuvalu also use all-terrain vehicles for transportation since roadways are not well developed outside the capital cities.

China also generates significant demand for all-terrain vehicles. In China, the major use of all-terrain vehicles has been by law enforcement and the military, particularly for patrolling the remote northwestern and northeastern frontiers. However, sports and tourism are also seeing a gradual increase in popularity.

Thailand, Malaysia and Indonesia are some of the largest users of all-terrain vehicles in the Asia-Pacific region in the tourism sector. All these countries receive millions of tourists each year, especially to visit pristine beaches and national parks. All-terrain vehicles are a value-added service that boosts the local tourism industry.

India is also generating significant demand for all-terrain vehicles. However, most of the demand comes from the military and law enforcement and adoption within the sports and tourism sectors is still low. The Asia-Pacific region will continue to retain the largest market share in the global all-terrain vehicle market in the coming years.

Competitive Landscape

The global all-terrain vehicle market is competitive due to the availability of a wide variety of vehicles that cater to different types of end-use applications. Some of the major players contributing to the growth in the segment are Polaris Inc., Textron Inc., Kawasaki Motors Corporation, Yamaha Motor Corporation, Suzuki Motor Corporation, Honda Motor Co., Ltd, Deere & Company, Bennche, LLC, Velomotors, Bombardier Recreational Products Inc. The significant players adopt several growth strategies such as new product launches, joint ventures and collaborations, contributing to global growth in the industry.

Polaris Inc.

Overview: Polaris Inc. is a major manufacturer of motorcycles, snowmobiles, all-terrain vehicles and neighborhood electric vehicles. The company mainly operates production facilities in U.S., Canada, Mexico and Poland. The company’s products are sold in more than 1oo countries globally through a wide distribution network. Polaris Inc. was founded in 1954 and is headquartered in Medina, Minnesota, U.S.

Product Portfolio

  • Huntsman XP1000 is a durable, high-performance all-terrain vehicle designed for rough riding. It is powered by a fuel-injected, liquid-cooled, two-cylinder, 1000cc gasoline engine. The vehicle has integrated front and back rack extenders for luggage hauling.

Key Developments:

  • In January 2022, Polaris Inc.’s subsidiary Polaris Off-Road launched a new range of Polaris all-terrain vehicles. The range is refreshed with new paint schemes, upgraded engines and more accessories on offer.

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FAQ

What is the All-Terrain Vehicle Market growth?

The market is growing at a CAGR of 4.9%

What is All-Terrain Vehicle Market size in 2021?

The All-Terrain Vehicle Market size was valued at USD YY million in 2021

Who are the key players in All-Terrain Vehicle Market?

Polaris Inc., Textron Inc., Kawasaki Motors Corporation, Yamaha Motor Corporation, Suzuki Motor Corporation, Honda Motor Co., Ltd, Deere & Company, Bennche, LLC, Velomotors, Bombardier Recreational Products Inc.

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