Global ATV Market worth over $5 Bn by 2030

All-Terrain Vehicle Market size is set to surpass USD 5 billion by 2030, according to a new research report by Global Market Insights Inc.
 

The report identifies the significant rise in ATV and off-road sports championships and events as a leading factor spurring the demand for all-terrain vehicles. Racing championships have gained substantial traction over recent years, with a rising percentage of the youth participating in these events. The growing investments by major automotive giants toward organizing sports championships and developing cutting-edge vehicles leveraging progressive technologies will transform the industry dynamics.
 

Increasing R&D investments to aid the growth of ATVs with 400cc displacement

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The ATV market from the below 400cc segment accounted for 27% of revenue share in 2021. ATVs with below 400cc displacement are ideal for kids below 12 years of age to brand new riders and shorter adults due to their light work and easy trailing riding. The emerging R&D activities and investments by key automobile manufacturers towards introducing a new product range with added functionalities will create new growth prospects for this segment.
 

Browse key industry insights spread across 197 pages with 361 market data tables & 28 figures & charts from the report, “All-Terrain Vehicle (ATV) Market Size By Product (Youth, Adult), By Displacement (Below 400cc, 400 - 800cc, Above 800cc), By Application (Utility, Sports, Recreation, Military), COVID-19 Impact Analysis, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2022 – 2030” in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/all-terrain-vehicle-atv-market
 

Positive economic outlook to boost the adoption of adult ATVs

The adult ATV segment held over 70% of the market share in 2021. A rapid upsurge in off-trailing and recreational activities, backed by the consistent improvement in disposable incomes and rising spending capabilities, is expected to accelerate the segmental expansion. In addition, the growing emphasis on enhancing durability by integrating additional accessories in high-end models and the availability of low-cost models with improved functionalities will proliferate the industry demand.
 

Growing expansion of agricultural and forestry sectors

The utility segment is projected to reach USD 1 billion by 2030. The increasing demand for ATVs across a range of utility-based applications across the forestry and agricultural sector may bring lucrative gains to the industry. These vehicles are designed to deliver customization, better performance, and high-power output. An appreciable rise in the development of advanced product portfolios to cater to the rising demand for numerous applications will strengthen the market outlook.
 

Increasing off-road activities across North America

North America ATV market hold over USD 2 billion in 2021. The flourishing outlook of the tourism and travel sector and the subsequent rise in recreational activities such as off-roading and camping are anticipated to foster product adoption across North America. The region is home to various adventurous trails and forests such as Oak Hill Raceway, Rockey Ridge Ranch, River Valley Motocross, and many more vehicle parks, creating prospects for further regional expansion.
 

Product line expansion to come forth as a key growth strategy

Key players operating in the ATV industry are Polaris, Arctic Cat Inc., Bombardier Recreational Products, Hisun, Honda Motor Co., Ltd, and Yamaha Motor Corporation, CF Moto, ARGO, KYMCO, and Suzuki Motor Corporation. The introduction of a new product line has emerged as a major growth tactic among these participants to safeguard their dominance and bolster their existing consumer base.