All-Terrain Vehicle Market Growth & Trends Analysis By 2030

 All-Terrain Vehicle Industry Overview

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. 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.

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 Segmentation

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


Based on the Engine Type, the market is segmented into Below 400cc, 400cc-800cc, and Above 800cc.

  • The ATV market has been segmented into below 400 cc, between 400cc-800cc, and above 800cc. The 400cc-800cc engine segment dominated the market in 2021, with a revenue share of over 48.2%. The growth can be attributed to the growing popularity of these vehicles for utility activities. For instance, ATVs are built with a considerable amount of storage space and are often used for hauling supplies and equipment. 
  • The above 800cc segment is anticipated to register a CAGR of 7.4% over the forecast period. An increase in off-trailing events and activities is projected to drive the demand for ATVs with above 800cc engine capacity. Off-trailing events and activities need vehicles with advanced engine movement capacities to deliver improved torque performance which enables the participants to gain a competitive advantage.

 


Based on the Application, the market is segmented into Agriculture, Sports, Recreational, and Military and Defense.

  • government initiatives to promote ATVs, such as making grants available to individuals engaged in rough terrain and off-road activities, are expected to propel the growth of the market over the forecast period. For instance, the Oregon Parks & Recreation Department introduced an ATV grant program in 2017 that helps to pay for emergency medical services, law enforcement, operation and maintenance, and land acquisition.
  • The military and defense segment of the all-terrain market is expected to register a CAGR of 7.9% over the forecast period. ATVs offer maneuvering and mobility for strategic missions. Original Equipment Manufacturers (OEMs) involved in tactical contracts with military organizations provide off-road transport, utility, electric ATVs, and combat for military applications.

 

Key Companies & Market Share Insights

Prominent players that dominated the all-terrain vehicle market in 2021 include Polaris Inc.; Bombardier Recreational Products (BRP); American Honda Motor Co., Inc.; Arctic Cat Inc. (acquired by Textron Inc.), and Yamaha Motor Corporation. These 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. These initiatives also assist in creating awareness regarding driver safety among end-users and assist the companies in expanding their product portfolio and brand value. For instance, In August 2020, Polaris Inc. announced the launch of new ATVs, Sportsman 570 and Sportsman 450 H.O. The launch helped the company to improve its product portfolio and cater to consumer demands. 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.

 

Order a free sample PDF of the All-Terrain Vehicle Market Intelligence Study, published by Grand View Research.

About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

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