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Polaris Inc. and Daymak Inc. hold a significant market share of over 10% in the electric all-terrain vehicle (ATV) industry. These players dominate the market by leveraging their technological expertise, manufacturing capabilities, and presence to gain a competitive edge. These companies are driving advancements in electric ATV technology such as battery performance, motor efficiency, and vehicle design. They are also expanding their product offerings to cater to diverse customer needs, from recreational riders to commercial users.
By investing in research & development, strategic partnerships, and marketing initiatives, these companies aim to solidify their positions as market leaders and capture a larger share of the growing market, shaping the industry's trajectory and defining its competitive landscape.
Major companies operating in the electric all-terrain vehicle (ATV) industry are:
Artic Cat Inc., BRP, Daymak Inc., DRR USA, Eco Charger, Eco Rider, Polaris Inc., Powerland, Tesla, Inc., and Theron are some of the major electric all-terrain vehicle companies worldwide.
North America was over 65% of the market share in 2023, attributed to the rising demand for environmentally sustainable transportation solutions in the region.
The 5-15 kW segment held around 30% of the market share in 2023, due to their versatility and suitability for a wide range of applications.
The market size of electric all-terrain vehicle (ATV) reached USD 27.9 million in 2023 and is set to witness 17% CAGR from 2024 to 2032, owing to the advancements in battery technology, such as higher energy density and faster charging capabilities worldwide.