ATV and UTV Market Trending Technologies, SWOT Analysis, Size and Forecast By 2031
By vehicle type, the ATV segment is projected to dominate the global market in terms of growth rate.
WILMINGTON, NEW CASTLE, DELAWARE, UNITED STATES, March 22, 2024 /EINPresswire.com/ -- The global ๐๐๐ ๐๐ง๐ ๐๐๐ ๐๐๐ซ๐ค๐๐ญ are experiencing growth due to the factors such as an 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. The global ATV and UTV market size was valued at $9.4 billion in 2021, and is projected to reach $18.6 billion by 2031, growing at a CAGR of 7.3% from 2022 to 2031.
๐๐๐ช๐ฎ๐๐ฌ๐ญ ๐๐๐ฆ๐ฉ๐ฅ๐ ๐๐๐ ๐๐ฌ ๐๐จ๐ฐ: 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.
๐๐จ๐ฉ ๐๐๐ฒ ๐๐ฅ๐๐ฒ๐๐ซ๐ฌ:
๐๐๐๐๐๐๐ ๐๐๐๐๐๐๐๐๐๐, ๐๐๐., ๐๐๐๐๐ ๐๐๐๐ ๐๐๐๐๐ ๐๐., ๐๐๐., ๐๐๐๐๐๐ ๐๐๐๐๐ ๐๐๐๐๐๐๐๐๐๐๐, ๐๐๐, ๐๐จ๐ง๐๐ ๐๐จ๐ญ๐จ๐ซ ๐๐จ., ๐๐ญ๐., ๐๐๐๐ซ๐ & ๐๐จ๐ฆ๐ฉ๐๐ง๐ฒ, ๐๐๐ฑ๐ญ๐ซ๐จ๐ง ๐๐ง๐., ๐๐๐ฐ๐๐ฌ๐๐ค๐ข ๐๐๐๐ฏ๐ฒ ๐๐ง๐๐ฎ๐ฌ๐ญ๐ซ๐ข๐๐ฌ, ๐๐๐๐๐๐ ๐๐จ๐ซ๐ฉ๐จ๐ซ๐๐ญ๐ข๐จ๐ง., ๐๐๐๐๐, ๐๐ ๐๐๐๐, ๐๐๐ฆ๐๐ก๐ ๐๐จ๐ญ๐จ๐ซ ๐๐จ ๐๐ญ๐
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.
๐๐ซ๐จ๐๐ฎ๐ซ๐ ๐๐จ๐ฆ๐ฉ๐ฅ๐๐ญ๐ ๐๐๐ฌ๐๐๐ซ๐๐ก ๐๐๐ฉ๐จ๐ซ๐ญ ๐๐จ๐ฐ: https://www.alliedmarketresearch.com/atv-and-utv-market/purchase-options
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.
Based on vehicle type, the UTV segment held the highest market share in 2021, accounting for more than half of the global ATV and UTV market revenue. Meanwhile, ATV is estimated to maintain its leadership status throughout the forecast period and would cite the fastest CAGR of 8.8% from 2022 to 2031, due to the growing popularity of outdoor recreational activities such as off-roading, hunting, and racing is driving the demand for ATVs. Also, the development of new and advanced technologies, such as electric ATVs and all-terrain tires, is expected to boost the demand for ATVs. These technologies enhance the performance, efficiency, and safety of ATVs, making them more appealing to consumers.
Based on power output, the 50kW To 100 kW segment accounted for the largest share in 2021, contributing to nearly two-fifths of the global ATV and UTV market revenue, as vin this power output range are popular among enthusiasts and consumers who require high-performance vehicles for off-road activities such as racing and extreme terrain riding. Manufacturers are investing in advanced technology and features to improve the performance and durability of these vehicles, such as high-performance suspension systems, advanced powertrains, and reinforced chassis. However, the above 100kW segment would display the fastest CAGR of 9.0% during the forecast timeframe.
๐๐ง๐ญ๐๐ซ๐๐ฌ๐ญ๐๐ ๐ญ๐จ ๐๐ซ๐จ๐๐ฎ๐ซ๐ ๐ญ๐ก๐ ๐๐๐ฌ๐๐๐ซ๐๐ก ๐๐๐ฉ๐จ๐ซ๐ญ? ๐๐ง๐ช๐ฎ๐ข๐ซ๐ ๐๐๐๐จ๐ซ๐ ๐๐ฎ๐ฒ๐ข๐ง๐ : https://www.alliedmarketresearch.com/purchase-enquiry/5154
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.
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-> 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.
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David Correa
Allied Market Research
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