The global all-terrain vehicle market size is expected to reach USD 6.01 billion by 2030, registering a CAGR of 3.8% from 2023 to 2030, as per a new report by Grand View Research, Inc. The development of off-road terrains, trails, and recreational parks is projected to boost the demand for All-terrain Vehicles (ATVs) by 2030. Moreover, governments’ initiatives to enhance tourism and recreational activities have supported the sales of ATVs. For instance, the Travel Management & Off-Highway Vehicle (OHV) Program announced by the U.S. Forest Service aims to increase the awareness and popularity of trails in North America.

Factors such as the growing popularity of off-road racing events and increased advertising have fueled the demand for ATVs across the globe. For instance, in January 2019, the Desert Series Pro ATV tournament involved ATV enthusiasts and many off-road vehicles which contributed to the adoption of ATVs. Additionally, growth in investments from sponsors is anticipated to boost the growth of the market by 2030.

Over the past few years, economic growth in developing economies, such as India and China, has resulted in higher disposable incomes and purchasing power of individuals, creating more spending capacity. This, in turn, supports the travel and tourism industry. As per the data published by the World Travel and Tourism Council (WTTC), the global tourism sector grew by 3.9% in 2018. The development of the tourism sector has led to a significant increase in recreational activities, thereby driving the demand for ATVs.

Gather more insights about the market drivers, restrains and growth of the All-Terrain Vehicle Market

Detailed Segmentation:

Application Insights

The recreational segment held the largest revenue share of 65.0% in 2022. The high demand for ATVs for recreational purposes can be attributed to the increasing number of hiking and camping activities. Furthermore, government initiatives to promote ATVs, such as making grants available to individuals engaged in rough terrain and off-road activities, are expected to propel the growth of the market over the forecast period.

Regional Insights

North America dominated the market and accounted for the largest revenue share of 48.5% in 2022. The adoption of ATVs witnessed a considerable increase in the U.S. and Canada owing to various factors, such as the higher disposable income of residents, the developed economy, government regulations regarding ATVs, and upcoming electric vehicle projects. The region has numerous off-road terrain trails and parks such as Northwest Off-Highway Vehicle Park, Rocky Ridge Ranch, and River Valley Motocross as these off-road terrain trails and parks attract many tourists, thereby driving the growth of the market.

Engine Type Insights

The 400 - 800cc segment accounted for the largest revenue share of 48.2% in 2022. The growth can be attributed to the growing popularity of these vehicles for utility activities. For instance, ATVs are built with a considerable amount of storage space and are often used for hauling supplies and equipment. Government organizations are adopting these vehicles for search and rescue operations and monitoring wild and forest areas. Prominent players in the market are launching 400cc-800cc ATVs to cater to a broader range of users and discover new application areas.

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Key Companies & Market Share Insights

The market is highly competitive, and the players are undertaking strategies such as product launches, acquisitions, and collaborations to increase their global reach. For instance, in May 2023, Polaris Inc. unveiled the 2024 XPEDITION XP and ADV models, marking the introduction of a pioneering category referred to as ‘Adventure side-by-sides’. These cutting-edge vehicles combine the off-road capabilities of conventional side-by-sides with the convenience and ample storage capacity commonly found in premium overlanding experiences. With the 2024 XPEDITION XP and ADV models, Polaris Inc. aimed to redefine the adventure vehicle market by offering a unique blend of rugged performance and enhanced comfort for off-road enthusiasts.

Key All-terrain Vehicle Companies:

• Polaris Inc.

• American Honda Motor Co., Inc.

• BRP

• Yamaha Motor Corporation, USA.

• ArcticInsider.com

• CFMOTO

• Kawasaki Motors Corp., U.S.A.

• KYMCO

• LINHAI POWERSPORTS USA CORPORATION

• Suzuki Motor of America, Inc.

All-terrain Vehicle Market Segmentation

Grand View Research has segmented the global all-terrain vehicle market report based on engine type, application, and region

All-terrain Vehicle (ATV) Engine Type Outlook (Revenue, USD Million, 2018 - 2030)

• Below 400cc

• 400 - 800cc

• Above 800cc

All-terrain Vehicle (ATV) Application Outlook (Revenue, USD Million, 2018 - 2030)

• Agriculture

• Sports

• Recreational

• Military and Defense

All-terrain Vehicle (ATV) Regional Outlook (Revenue, USD Million, 2018 - 2030)

• North America

o U.S.

o Canada

• Europe

o UK

o Germany

o France

• Asia Pacific

o China

o Japan

o India

o Australia

o South Korea

• Latin America

o Brazil

o Mexico

• Middle East and Africa

o Saudi Arabia

o South Africa

o UAE

Order a free sample PDF of the All-Terrain Vehicle Market Intelligence Study, published by Grand View Research.

Recent Developments

• In March 2023, Polaris Inc. unveiled the RZR Pro R Factory, a specialized UT (Utility Terrain) vehicle specifically designed for competitive racing. This purpose-built vehicle has undergone meticulous engineering to deliver exceptional performance in demanding conditions encountered in open desert racing. With the introduction of the RZR Pro R Factory, Polaris Inc. aimed to provide racers with a high-performance vehicle that is optimized for the challenges and rigors of intense off-road racing competitions.

• In January 2022, John Deere introduced two additions to their utility vehicle lineup: the XUV835R Gator Utility Vehicle and the XUV865R Gator Utility Vehicle. With these new models, John Deere aimed to provide customers an enhanced capabilities and a premium experience, ensuring that their utility vehicle needs are met with the utmost satisfaction.

• In September 2021, Yamaha introduced the Grizzly 90, a specially designed sports model intended for young individuals aged ten and above. This youth-focused vehicle boasts a low-maintenance 90cc engine that incorporates air-cooling and wet-sump lubrication for optimal performance.

• In June 2021, Kawasaki unveiled the BRUTE FORCE 750 4x4i, an off-road vehicle designed for thrilling outdoor adventures. Powered by a fuel-injected 749cc V-twin engine, this vehicle delivers outstanding performance on challenging terrains. It comes equipped with various features such as a front differential lock, selectable drive modes, and continuous variable transmission (CT), all contributing to improved traction and overall performance.