NEW YORK , Jan. 12, 2023 /PRNewswire/ -- According to Technavio, the global ATV and UTV market size is estimated to grow by USD 4,262.38 million from 2022 to 2027. The market is estimated to grow at a CAGR of 6.97% during the forecast period. North America will account for 59% of the market's growth during the forecast period.
For more Insights on market size Request a sample report Non Slip Yoga Mat
Global ATV and UTV market- Five forces The global ATV and UTV market is fragmented, and the five forces analysis covers–
The threat of New Entrants
Interpretation of porter's five models helps to strategize the business, for entire details – buy the report!
Global ATV And UTV Market – Customer landscape
The report includes the market's adoption lifecycle, from the innovator's stage to the laggard's stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global ATV And UTV market - Segmentation assessment
Segment overview Technavio has segmented the market based on type (gasoline-powered, diesel-powered, electric-powered, and solar-powered), application (sports, utility, and others), and geography (North America , Europe , APAC, Middle East and Africa , and South America ).
The market share growth of the gasoline powdered segment will be higher than the other segments during the forecast period. Since gasoline engines are lightweight, produce fewer vibrations and noises, and emit fewer emissions, they are frequently seen in passenger cars. Engine downsizing, which reduces the size of a gasoline engine relative to a diesel engine, is another significant element driving demand for gasoline engines.
Geography Overview By geography, the global ATV and UTV market is segmented into North America , Europe , APAC, Middle East and Africa , and South America . The report provides actionable insights and estimates the contribution of all regions to the growth of the global ATV and UTV market.
North America will account for 59% of the market's growth during the forecast period. Off-road vehicles like ATVs and UTVs are very popular and in high demand in the US and Canada , which has helped to increase regional market share. The popularity and sales of ATVs and UTVs have also been greatly influenced by the abundance of off-road adventure activities in North America . This has directly contributed to revenue generation in the ATV and UTVs market in North America .
Global ATV and UTV market – Market dynamics
A key factor driving market growth
The increasing trend toward adventurous sporting is notably driving the market Therefore, such factors are expected to boost the growth of the global ATV and UTV market during the forecast period. The demand for off-road vehicles is rising due to the popularity of adventure and leisure sports in numerous regions, including North America , Europe , and APAC, which is anticipated to support the expansion of the global ATV and UTV market. Mountain and dirt racing are becoming increasingly popular, especially in North America and Europe .
ATV and UTV sales are also growing due to the rising interest in leisure activities and off-road adventure competitions among enthusiasts in APAC's emerging countries.
Leading trends influencing the market
Growing automation in ATVs and UTVs is a major trend in the market.
The global ATV and UTV markets represent the automotive industry's move from non-autonomous to autonomous and connected vehicle technology.
Furthermore, Increasing product launches and Increasing marketing initiatives is expected to boost market growth during the forecast period.
Major challenges hindering the market growth
The environmental concerns due to the use of ATVs and UTVs are major challenges impeding the market.
ATVs and UTVs are made to make traveling over difficult and uneven terrain easier. Their landscape characteristics, meanwhile, have a negative impact on the environment, which makes market expansion difficult.
Biologists claim that the characteristics of the soil can be harmed by the use of UTVs, ATVs, and other off-road vehicles. This is because ATVs and UTVs can cause soil erosion and increase soil bulk density, strength, and permeability.
The entire wildlife population is impacted by the behavioral changes and physiological responses of wildlife brought on by activities in the environment. Therefore, such environmental factors will hinder the growth of the market during the forecast period.
Driver, Trend & Challenges are the factor of market dynamics that states about consequences & sustainability of the businesses, find some insights from a sample report!
What are the key data covered in this ATV and UTV market report?
CAGR of the market during the forecast period
Detailed information on factors that will drive the growth of the ATV and UTV market between 2023 and 2027
Precise estimation of the size of the ATV and UTV market and its contribution to the parent market
Accurate predictions about upcoming trends and changes in consumer behavior
Growth of the ATV and UTV market across North America , Europe , APAC, Middle East and Africa , and South America
A thorough analysis of the market's competitive landscape and detailed information about vendors
Comprehensive analysis of factors that will challenge the growth of ATV and UTV market vendors
Gain instant access to 17,000+ market research reports.
Mild Hybrid Vehicles Market by Type, Capacity, and Geography - Forecast and Analysis 2023-2027: The mild hybrid vehicles market is estimated to grow at a CAGR of 31.04% between 2022 and 2027. The size of the market is forecast to increase by 5,196.97 thousand units. The stringent emission control regulations are notably driving the market growth, although factors such as rising demand for BEVs and FCEVs may impede the market growth.
Electric Car Market by Type, Vehicle Type, and Geography - Forecast and Analysis 2023-2027: The electric car market is estimated to grow at a CAGR of 28.69% between 2022 and 2027. The size of the market is forecast to increase by 22,644.59 thousand units. Reducing prices of lithium-ion batteries is notably driving the market growth, although factors such as the lack of BEV charging infrastructure in developing automotive markets may impede the market growth.
ATV And UTV Market Scope
Accelerate at a CAGR of 6.97%
North America, Europe, APAC, Middle East and Africa, and South America
US, Canada, Germany, France, and UK
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks
BMS Motorsports Inc., Bombardier Recreational Products Inc., Deere and Co., HISUN Motors Corp., Honda Motor Co. Ltd, Kawasaki Heavy Industries Ltd., Kayo USA, Kubota Corp., KWANG YANG MOTOR Co. Ltd., Mahindra and Mahindra Ltd., Massimo Motor Sports LLC, Nebula Automotive Pvt. Ltd., Polaris Inc., Suzuki Motor Corp., Tao Motor Inc., Textron Inc., TOMCAR, Yamaha Motor Co. Ltd., Zhejiang CfMoto Power Co. Ltd., and Taiwan Golden Bee Co. Ltd.
Parent Market Analysis; Market growth inducers and obstacles; Fast-growing and slow-growing segment analysis for the forecast period
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.
Browse for Technavio "Consumer Discretionary" Research Reports
3.4 Market outlook: Forecast for 2022-2027
4.1 Global atv and utv market 2017 - 2021
4.2 Fuel type Segment Analysis 2017 - 2021
6 Market Segmentation by Fuel Type
6.3 Gasoline powered - Market size and forecast 2022-2027
6.4 Diesel powered - Market size and forecast 2022-2027
6.5 Electric powered - Market size and forecast 2022-2027
6.6 Solar powered - Market size and forecast 2022-2027
6.7 Market opportunity by Fuel Type
7.3 Sports - Market size and forecast 2022-2027
7.4 Utility - Market size and forecast 2022-2027
7.5 Others - Market size and forecast 2022-2027
9.3 North America - Market size and forecast 2022-2027
9.4 Europe - Market size and forecast 2022-2027
9.5 APAC - Market size and forecast 2022-2027
9.6 Middle East and Africa - Market size and forecast 2022-2027
9.7 South America - Market size and forecast 2022-2027
9.8 US - Market size and forecast 2022-2027
9.9 Canada - Market size and forecast 2022-2027
9.10 Germany - Market size and forecast 2022-2027
9.11 France - Market size and forecast 2022-2027
9.12 UK - Market size and forecast 2022-2027
10.3 Impact of drivers and challenges
12.9 KWANG YANG MOTOR Co.Ltd.
12.13 Taiwan Golden Bee Co. Ltd.
12.17 Zhejiang CfMoto Power Co. Ltd.
13.3 Currency conversion rates for US$
About Us Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
Contact Technavio Research Jesse Maida Media & Marketing Executive US: +1 844 364 1100 UK: +44 203 893 3200 Email: media@technavio.com Website: www.technavio.com/
Snow Slider View original content to download multimedia:https://www.prnewswire.com/news-releases/atv-and-utv-market-2023-2027-a-descriptive-analysis-of-five-forces-model-market-dynamics-and-segmentation--technavio-301717699.html