ATV and UTV Market

By vehicle type, the ATV segment is projected to dominate the global market in terms of growth rate.

PORTLAND, OR, US, February 27, 2024 /EINPresswire.com/ -- 𝐀𝐓𝐕 𝐀𝐧𝐝 𝐔𝐓𝐕 𝐌𝐚𝐫𝐤𝐞𝐭 by Vehicle Type (ATV, UTV), by Displacement (Less Than 400 CC, 400 CC To 800 CC, More Than 800 CC), by Power Output (Less Than 50kW, 50kW To 100 kW, Above 100 kW), by Fuel Type (Gasoline Powered, Diesel Powered, Electric Powered, Solar Powered), by End Use (Agriculture, Military, Mountaineering, Others): Global Opportunity Analysis and Industry Forecast, 2021-2031”. 𝐀𝐜𝐜𝐨𝐫𝐝𝐢𝐧𝐠 𝐭𝐨 𝐭𝐡𝐞 𝐫𝐞𝐩𝐨𝐫𝐭, 𝐭𝐡𝐞 𝐠𝐥𝐨𝐛𝐚𝐥 𝐀𝐓𝐕 𝐚𝐧𝐝 𝐔𝐓𝐕 𝐦𝐚𝐫𝐤𝐞𝐭 𝐰𝐚𝐬 𝐯𝐚𝐥𝐮𝐞𝐝 𝐚𝐭 $𝟗.𝟒 𝐛𝐢𝐥𝐥𝐢𝐨𝐧 𝐢𝐧 𝟐𝟎𝟐𝟏, 𝐚𝐧𝐝 𝐢𝐬 𝐩𝐫𝐨𝐣𝐞𝐜𝐭𝐞𝐝 𝐭𝐨 𝐫𝐞𝐚𝐜𝐡 $𝟏𝟖.𝟔 𝐛𝐢𝐥𝐥𝐢𝐨𝐧 𝐛𝐲 𝟐𝟎𝟑𝟏, 𝐫𝐞𝐠𝐢𝐬𝐭𝐞𝐫𝐢𝐧𝐠 𝐚 𝐂𝐀𝐆𝐑 𝐨𝐟 𝟕.𝟑% 𝐟𝐫𝐨𝐦 𝟐𝟎𝟐𝟐 𝐭𝐨 𝟐𝟎𝟑𝟏.

𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐒𝐚𝐦𝐩𝐥𝐞 𝐏𝐚𝐠𝐞𝐬 𝐍𝐨𝐰: https://www.alliedmarketresearch.com/request-sample/5154

All terrain vehicle (ATV) and utility terrain vehicle (UTV) are special kind of off-road vehicles which are used to perform numerous activities such as leisure activities, patrolling, agricultural usage & other activities. These vehicles are designed in such a way that they offer superior performance during usage and at the same time, they are cheaper in cost. Moreover, companies operating in the production of advanced ATVs & UTVs have been offering a wider range of superior quality ORVs to its customers across the globe which has proved to be a factor supplementing the growth of the market across the globe.

Prime determinants of growth

Increase in the trend of adventure sports & recreational activities, adoption of ATVs & UTVs in military activities, and government rules to support driving ATVs and UTVs on road, propel the growth of the ATV and UTV market across the globe. However, ban on ATV and UTV driving in wildlife area due to terrain damage and high maintenance cost of ATVs and UTVs hinder the growth of the market. Furthermore, production of safer ATVs & UTVs and development of electric vehicles provide lucrative opportunities for the growth of the global ATV and UTV market across the globe.

𝐓𝐨𝐩 𝐊𝐞𝐲 𝐏𝐥𝐚𝐲𝐞𝐫𝐬:

𝐊𝐖𝐀𝐍𝐆 𝐘𝐀𝐍𝐆 𝐌𝐎𝐓𝐎𝐑 𝐂𝐎., 𝐋𝐓𝐃., 𝐇𝐈𝐒𝐔𝐍, 𝐒𝐔𝐙𝐔𝐊𝐈 𝐌𝐎𝐓𝐎𝐑 𝐂𝐎𝐑𝐏𝐎𝐑𝐀𝐓𝐈𝐎𝐍, 𝐊𝐚𝐰𝐚𝐬𝐚𝐤𝐢 𝐇𝐞𝐚𝐯𝐲 𝐈𝐧𝐝𝐮𝐬𝐭𝐫𝐢𝐞𝐬, 𝐂𝐅𝐌𝐎𝐓𝐎, 𝐏𝐎𝐋𝐀𝐑𝐈𝐒 𝐈𝐍𝐃𝐔𝐒𝐓𝐑𝐈𝐄𝐒, 𝐈𝐍𝐂., 𝐊𝐔𝐁𝐎𝐓𝐀 𝐂𝐨𝐫𝐩𝐨𝐫𝐚𝐭𝐢𝐨𝐧., 𝐓𝐞𝐱𝐭𝐫𝐨𝐧 𝐈𝐧𝐜., 𝐁𝐑𝐏, 𝐘𝐚𝐦𝐚𝐡𝐚 𝐌𝐨𝐭𝐨𝐫 𝐂𝐨 𝐋𝐭𝐝, 𝐃𝐞𝐞𝐫𝐞 & 𝐂𝐨𝐦𝐩𝐚𝐧𝐲, 𝐇𝐨𝐧𝐝𝐚 𝐌𝐨𝐭𝐨𝐫 𝐂𝐨., 𝐋𝐭𝐝.

𝐏𝐫𝐨𝐜𝐮𝐫𝐞 𝐂𝐨𝐦𝐩𝐥𝐞𝐭𝐞 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐑𝐞𝐩𝐨𝐫𝐭 𝐍𝐨𝐰: https://www.alliedmarketresearch.com/atv-and-utv-market/purchase-options

In addition, continuous government support for the usage of ORVs across different industries such as military & defense, agriculture & others creates a wider scope for the growth of the market across the globe. According to the California ATV law, no person can drive an off-highway motor vehicle at a speed greater than is reasonable or prudent and in no event at a speed which endangers the safety of other people or property. Each state has its own laws and regulations governing the use of electric ATVs and UTVs. Some states require riders to wear helmets, while others do not. Some states also require registration and insurance for off-road vehicles or LSVs. Additionally, some cities and towns may have their own regulations governing the use of these vehicles. In most states, operators of electric ATVs and UTVs must be at least 16 years old. Some states have additional requirements, such as completion of a safety course or the presence of a supervising adult.

Based on displacement, the more than 800 CC segment held the highest market share in 2021, accounting for more than two-fifths of the global ATV and UTV market revenue, owing to the fact that utility-focused UTVs with larger engine sizes above 800cc are becoming increasingly popular for commercial and industrial applications, such as farming, construction, and transportation. These vehicles are designed to handle heavy loads, rough terrains, and tough working conditions. However, the less than 400 CC segment is expected to portray the fastest CAGR of 8.7% during the forecast period.

𝐑𝐞𝐠𝐢𝐨𝐧𝐚𝐥 𝐀𝐧𝐚𝐥𝐲𝐬𝐢𝐬:

Based on region, North America held the highest market share in terms of revenue in 2021, accounting for nearly half of the global ATV and UTV market revenue, owing to increase in demand for more advanced & efficient off road vehicles to be present across the region. However, the Europe region is expected to witness the fastest CAGR of 8.6% from 2022 to 2031, and is likely to dominate the market during the forecast period, owing to increased presence of numerous ORV manufacturing companies across the Europe.

𝐈𝐧𝐭𝐞𝐫𝐞𝐬𝐭𝐞𝐝 𝐭𝐨 𝐏𝐫𝐨𝐜𝐮𝐫𝐞 𝐭𝐡𝐞 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐑𝐞𝐩𝐨𝐫𝐭? 𝐈𝐧𝐪𝐮𝐢𝐫𝐞 𝐁𝐞𝐟𝐨𝐫𝐞 𝐁𝐮𝐲𝐢𝐧𝐠: https://www.alliedmarketresearch.com/purchase-enquiry/5154

The ATV and UTV market is segmented on the basis of vehicle type, displacement, power output, fuel type, end use, and region. By vehicle type, the market is bifurcated into ATV and UTV. By displacement, it is categorized into less than 400 cc, 400-800 cc, and more than 800 cc. By power output, it is classified into less than 50KW, 50kW to 100 KW, and above 100 KW. By fuel type, it is divided into gasoline powered, diesel powered, electric powered, and solar powered. By end use, it is segregated into agriculture, military, mountaineering, and others. By region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

𝐊𝐄𝐘 𝐅𝐈𝐍𝐃𝐈𝐍𝐆𝐒 𝐎𝐅 𝐓𝐇𝐄 𝐒𝐓𝐔𝐃𝐘

By vehicle type, the ATV segment is projected to dominate the global market in terms of growth rate.

By displacement, the less than 400 CC segment is projected to dominate the global ATV and UTV market in terms of growth rate.

By power output, the 50kW To 100 kW segment is projected to dominate the global ATV and UTV market in terms of growth rate.

By fuel type, the electric powered segment is projected to dominate the global ATV and UTV market in terms of growth rate.

By end use, the Military segment is projected to dominate the global ATV and UTV market in terms of growth rate.

By region, Europe is projected to dominate the global market in terms of growth rate.

𝐂𝐡𝐞𝐜𝐤 𝐨𝐮𝐭 𝐦𝐨𝐫𝐞 𝐫𝐞𝐥𝐚𝐭𝐞𝐝 𝐬𝐭𝐮𝐝𝐢𝐞𝐬 𝐩𝐮𝐛𝐥𝐢𝐬𝐡𝐞𝐝 𝐛𝐲 𝐀𝐌𝐑 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡:

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Asia-Pacific Bus HVAC Market - https://www.globenewswire.com/news-release/2023/11/14/2779708/0/en/Asia-Pacific-Bus-HVAC-Market-to-Garner-2-3-Billion-by-2031-at-5-7-CAGR-Allied-Market-Research.html

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David Correa
Allied Market Research
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