PUBLISHER: Allied Market Research | PRODUCT CODE: 1344289
PUBLISHER: Allied Market Research | PRODUCT CODE: 1344289
The ATV and UTV market is expected to experience a significant growth rate of 7.3% from 2022 to 2031 owing to increased demand for off-road vehicles across the globe - Allied Market Research
The global ATV and UTV market are growing rapidly due to increasing demand from consumers and industries and is highly competitive with key players investing in research and development to introduce new and innovative products and expanding their market presence through acquisitions and partnerships. For instance, in April 2021, Arctic Cat announced the launch of Alterra 600 EPS four-wheeler available to farmers, which equipped with new drivetrain, chassis, and engine for more power, and was designed to be easier for service.
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 ATV and UTV market has been studied across North America, Europe, Asia-Pacific and LAMEA. Key players operating in the global ATV and UTV market are BRP Inc, CFmoto, Deere Company, Hisun Motors Corporation, Honda Motor Company, Ltd., Kawasaki Heavy Industries Ltd, Kwang Yang Motor Co., Ltd., Kubota Corporation, Polaris Industries, Inc., Suzuki Motor Corporation, Textron Inc, and Yamaha Motor Co., Ltd.