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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
ATV and UTV Market Share by Type
As per the ATV and UTV market analysis, the demand for UTVs is significantly increasing as they are sturdy and boast a larger capacity than conventional four-wheelers. These vehicles can accommodate up to 6 passengers and can easily tackle challenging terrains like sand, mud, rocks, grovel, and dirt, among others. Due to their wide storage space, UTVs are used for transportation applications in different sectors.
Meanwhile, the increasing launch of ATVs with excellent performance and enhanced safety is also aiding the market.
ATV and UTV Market Share by End Use
The agriculture sector represents a significant portion of the ATV and UTV market share. ATVs and UTVs are widely used as an alternative to horses and pick-up trucks in orchards, farms, forests, and ranches. They also find usage in applying chemicals and fertilisers to crops, supervising field crews, inspecting livestock and crops, and transporting different equipment in agricultural settings.
Meanwhile, the military sector uses ATVs and UTVs to carry combat requiring precision, perform search and rescue missions, and perform maintenance duties.
ATV and UTV Market Report Snapshots
*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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Key Questions Answered in the Report
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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Australia
63 Fiona Drive, Tamworth, NSW
+61 448 06 17 27
India
C130 Sector 2 Noida, Uttar Pradesh 201301
+91-858-608-1494
Philippines
40th Floor, PBCom Tower, 6795 Ayala Avenue Cor V.A Rufino St. Makati City, 1226.
+63 287899028, +63 967 048 3306
United Kingdom
6 Gardner Place, Becketts Close, Feltham TW14 0BX, Greater London
+44-753-713-2163
Vietnam
193/26/4 St.no.6, Ward Binh Hung Hoa, Binh Tan District, Ho Chi Minh City
+84865399124