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Polaris Inc., established in 1954, is an automobile manufacturer that offers high-quality power sports vehicles. The company is committed to innovation and has played a detrimental role in developing snowmobiles and military vehicles. Headquartered in Minnesota, the United States, it serves customers in nearly 120 countries across the globe.
Deere & Company is a company that provides advanced technologies, services, and products aimed at revolutionising the construction and agricultural industries. Headquartered in Illinois, the United States, the company has established its reputation as a leading manufacturer of construction, agricultural, forestry, marine, and industrial equipment. Since its foundation in 1837, the company has aimed to offer advanced solutions that can support customers to improve their productivity.
HISUN Motors Corporation, headquartered in Texas, the United States, is a prominent manufacturer and provider of all-terrain vehicles. It has emerged as a leader in the powersports sector, offering innovative solutions to customers around the world. Over 300 dealers and numerous retailers in the United States sell the company’s versatile UTVs and ATVs.
Other ATV and UTV market players include Yamaha Motor Co., Ltd., Honda Motor Co. Ltd., Kawasaki Heavy Industries Ltd., Suzuki Motor Corp., Arctic Cat Inc., Bombardier Recreational Products Inc., and Zhejiang Cfmoto Power Co., Ltd., among others.
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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In 2023, the market attained a value of nearly USD 11.79 billion.
The market is assessed to grow at a CAGR of 6.1% between 2024 and 2032.
The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach about USD 20.33 billion by 2032.
The major market drivers are the growing demand for environmentally friendly vehicles, the surging launches of electric ATVs and UTVs, and technological advancements.
The increasing attempts by key players to develop autonomous ATVs and UTVs and the rising usage of off-road vehicles in agricultural activities are the key trends aiding the market.
The major regions in the market are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.
The significant end uses of the vehicles are agriculture, military, and sports, among others.
The major players in the market are Yamaha Motor Co., Ltd., Honda Motor Co. Ltd., Kawasaki Heavy Industries Ltd., Suzuki Motor Corp., Arctic Cat Inc., Polaris Inc., Bombardier Recreational Products Inc., Deere & Company, HISUN Motors Corporation, and Zhejiang Cfmoto Power Co., Ltd., among others.
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