All-terrain Vehicle Market Size Reach USD 2 Billion By 2030 | CAGR : 5.2%

The global all-terrain vehicle market size is expected to reach USD 1.92 billion by 2030, registering a CAGR of 5.2% during the forecast period, as per a new report by Grand View Research, Inc. The development of off-road terrains, trails, and recreational parks is projected to boost the demand for All-terrain Vehicles (ATVs) by 2030.

All-terrain Vehicle Market Report Highlights

  • The market for all-terrain vehicles is anticipated to witness growth owing to the increasing number of adventure and trails parks and the rising popularity of off-road sports activities
  • The 400cc-800cc engine type segment accounted for a significant revenue share of over 23.0% in 2021. The increase in demand for 400-800cc engine ATVs is accredited to the demand for search & rescue operations and utility purposes
  • The ATV market in Europe is expected to witness a high CAGR over the forecast period owing to the increased demand for off-road vehicles in diverse sectors, such as defense, military, and agriculture
  • Key players operating in the market include American Honda Motor Co., Inc.; Polaris Inc.; Bombardier Recreational Products (BRP); Arctic Cat Inc. (acquired by Textron Inc.); and Yamaha Motor Corporation

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All-Terrain Vehicle Market Report

An ATV or all-terrain vehicle is a motorized off-road vehicle designed to travel on four low-pressure or non-pneumatic tires, offer a quick means of transportation over rough ground. It has integrated GPS, traction control, better customization features, high torque & power capability, driver’s safety features and electric fuel type. They are mainly used for sports, entertainment, military, agriculture, hunting, and others. Due to COVID-19 pandemic, demand for ATVs has declined, owing to lockdowns enforced in most countries. Moreover, governments’ initiatives to enhance tourism and recreational activities have supported the sales of ATVs. For instance, the Travel Management & Off-Highway Vehicle (OHV) Program announced by the U.S. Forest Service aims to increase the awareness and popularity of trails in North America.

U.S. All-terrain Vehicle Market size, by engine type
US All-terrain Vehicle Market Size By Engine Type

Factors such as the growing popularity of off-road racing events and increased advertising have fueled the demand for ATVs across the globe. For instance, in January 2019, the Desert Series Pro ATV tournament involved ATV enthusiasts and many off-road vehicles which contributed to the adoption of ATVs. Additionally, growth in investments from sponsors is anticipated to boost the growth of the market by 2030.

Over the past few years, economic growth in developing economies, such as India and China, has resulted in higher disposable incomes and purchasing power of individuals, creating more spending capacity. This, in turn, supports the travel and tourism industry. As per the data published by the World Travel and Tourism Council (WTTC), the global tourism sector grew by 3.9% in 2018. The development of the tourism sector has led to a significant increase in recreational activities, thereby driving the demand for ATVs.

North America dominated the ATV market in 2021. This can be attributed to the presence of vast and diverse landscapes in North America, including mountain ranges and dense forests. ATV manufacturers focus on developing innovative and safer equipment that can meet the diverse needs of end users who want to explore tough terrains. Additionally, the increasing production and sales of ATVs in North America are expected to contribute to the growth of the market. The presence of various market players, including Polaris Inc., Textron Inc., and BRP, among others, is likely to further contribute to the growth.

All-terrain Vehicle Market Insights By Geographical Regions:

North America was the most prominent market in 2021, accounting for a revenue share of over 56.3%. The adoption of ATVs witnessed a considerable increase in the U.S. and Canada owing to various factors, such as the higher disposable income of residents, developed economy, government regulations regarding ATVs, and upcoming electric vehicle projects. The MEA market is expected to register a CAGR of 10.0% from 2022 to 2030. The market growth can be attributed to the growing demand for off-road vehicles in the military & defense and agricultural sectors. The market in the Asia Pacific region provides significant growth opportunities for ATV manufacturers owing to the low manufacturing cost, increasing military expenditure, and large addressable market.

Industry Share Analysis By Major Manufacturers:

Key players focus on new product launches, geographic expansions, strategic partnerships, and mergers & acquisitions to improve their product offerings, enhance their market presence, and gain a competitive edge. Some of the prominent players operating in the global all-terrain vehicle market are:

  • Polaris Inc.
  • American Honda Motor Co., Inc.
  • Bombardier Recreational Products (BRP)
  • Yamaha Motor Corporation
  • Arctic Cat Inc.

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All-terrain Vehicle Market Segmentation

Grand View Research has segmented the global all-terrain vehicle market report based on engine type, application, and region:

Engine Type Outlook

  • Below 400cc
  • 400cc-800cc
  • Above 800cc

Application Outlook

  • Agriculture
  • Sports
  • Recreational
  • Military and Defense

Regional Outlook

  • North America
    • U.S.; Canada
  • Europe
    • U.K.; Germany
  • Asia Pacific
    • China; India; Japan
  • Latin America
    • Brazil; Mexico
  • Middle East & Africa

Research Methodology

We employ a comprehensive and iterative research methodology focused on minimizing deviance in order to provide the most accurate estimates and forecasts possible. We utilize a combination of bottom-up and top-down approaches for segmenting and estimating quantitative aspects of the market. Data is continuously filtered to ensure that only validated and authenticated sources are considered. In addition, data is also mined from a host of reports in our repository, as well as a number of reputed paid databases. Our market estimates and forecasts are derived through simulation models. A unique model is created and customized for each study. Gathered information for market dynamics, technology landscape, application development, and pricing trends are fed into the model and analyzed simultaneously.

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About Grand View Research

Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S. based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.



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