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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
North America ATV and UTV Market Outlook
The North America ATV and UTV market size reached nearly USD 9.34 billion in 2023. The market is projected to grow at a CAGR of 6.7% between 2024 and 2032, reaching almost USD 16.91 billion by 2032.
Key Takeaways:
- ATVs are expected to constitute a major portion of the North America ATV and UTV market share.
- Electric-powered vehicles are expected to dominate the market over the forecast period.
- An increase in the number of off-road family trips is expected to leverage the market growth.
Safety and comfort have become the topmost consumer priorities in the North America ATV and UTV market. This is prompting manufacturers to integrate smart technologies (such as augmented reality) and autonomous safety features (such as collision detection) into ATVs and UTVs. Moreover, the development of lightweight chassis designs is improving vehicle manoeuvrability and advanced adaptive suspension systems are enabling real-time adjustment of shock absorbers (depending on the type of terrain) to cater to consumer comfort and enhance the riding experience. Advanced technological features enable consumers to connect with their counterparts in remote trailing sites, enhancing user safety and experience. This is expected to drive the North America ATV and UTV market expansion over the forecast period.
An increasing number of North America ATV and UTV market players are focusing on appealing to youth riders by upgrading existing vehicle designs and features. With an increase in the number of off-road trips taken by American families, the demand for electric ATVs is soaring rapidly. This is because they are environmentally friendly and have a significantly lower carbon footprint. This is prompting companies to invest in developing advanced battery systems for electric ATVs/UTVs that provide a long mileage on a single charge and can accommodate small emergency provisions.
Market Segmentation
North America ATV and UTV Market Report and Forecast 2024-2032 offers a detailed analysis of the market based on the following segments:
Market Breakup by Vehicle
- ATV
- UTV
Market Breakup by Displacement
- Less Than 400 CC
- 400 CC to 800 CC
- More Than 800 CC
Market Breakup by Power Output
- Less Than 50 KW
- 50 KW to 100 KW
- Above 100 KW
Market Breakup by Fuel Type
- Gasoline Powered
- Diesel Powered
- Electric Powered
Market Breakup by End Use
- Agriculture
- Sports
- Others
Market Breakup by Country
- United States of America
- Canada
The key North America ATV and UTV market players market players are Yamaha Motor Co., Ltd., Honda Motor Co., Ltd., Kawasaki Heavy Industries Ltd., Suzuki Motor Corporation, Arctic Cat, Inc., Polaris Inc., Deere & Company, Bombardier Recreational Products Inc., Kubota Corporation, and Hisun Motors Corp., among others.
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Vehicle |
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| Breakup by Displacement |
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| Breakup by Power Output |
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| Breakup by Fuel Type |
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| Breakup by End Use |
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| Breakup by Region |
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| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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*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
The market was valued at nearly USD 9.34 billion in 2023.
The market is projected to grow at a CAGR of 6.7% between 2024 and 2032.
The market is assessed to witness a healthy growth in the forecast period to reach around USD 16.91 billion in 2032.
The different vehicles in the market include ATV and UTV.
The different fuel types used in ATV and UTV include gasoline powered, diesel powered, and electric powered.
The different segments considered in the market report are less than 50 KW, 50 KW to 100 KW, and above 100 KW.
The major countries in the market include the United States of America and Canada.
The key market players are Yamaha Motor Co., Ltd., Honda Motor Co., Ltd., Kawasaki Heavy Industries Ltd., Suzuki Motor Corporation, Arctic Cat, Inc., Polaris Inc., Deere & Company, Bombardier Recreational Products Inc., Kubota Corporation, and Hisun Motors Corp., among others.
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