US All-Terrain Vehicle Market: Current Analysis and Forecast (2021-2027)

All-terrain vehicle (ATV) is defined as a vehicle with a straddle seating position, handlebar steering, and the ability to maneuver through a variety of terrain conditions. While there are a variety of ATV customizations and modifications available, at their base all ATVs share those three features. Factors that are driving the market size of all-terrain vehicle in United states are rising number of desert competitions, ATV championships, adventure trails, and parks will propel the ATV market size. In addition, increasing government support for developing adventure trails for off-road vehicles is likely to augment the market growth. For instance, the U.S. Forest Service established Travel Management and Off-Highway Vehicle program to raise awareness regarding the availability of trails. Moreover, increasing private sector participation in the construction of dedicated infrastructure for recreational and amusement purposes will add to the market growth.

Based on application, the market is classified into sports, entertainment, agriculture, military and defense and hunting & forestry. The sports segment generated revenue of USD XX billion in 2020. The segment is expected to grow at a CAGR of XX% during the forecast period to reach a market valuation of USD XX billion by 2027 due to the new budgetary allocations by government to build new off-road trails that may be helpful for recreational enthusiasts and boost adventure sports activities in the region.

Based on type, the market is classified into utility ATV and sport ATV. The utility ATV segment grabbed XX% market share of the United States all-terrain vehicle market and gathered revenue of USD XX billion in 2020. The segment is expected to grow at a CAGR of XX% during the forecast period to reach a market valuation of USD XX billion by 2027 owing to the growing adoption of UTVs for a variety of applications including farming, forestry, and movement of goods on construction sites is driving the industry demand.

Based on drive type, the market is classified into 2WD, 4WD and AWD. The XX segment captures considerable share and expected to have considerable market share in the forecasted period as well.

Based on Seating capacity, the market is bifurcated into one seat and two seat. Currently, two seats segment dominated the all-terrain vehicle market and accounted for XX% market share. This segment will witness a considerable CAGR of XX% during the forecast period (2021-2027F) owing to its surging demand for two-seat ATVs in the tourism industry, military and agriculture sectors.

Based on fuel type, the market is segmented into gasoline and electric vehicle. The gasoline segment generated revenue of USD XX billion in 2020. The segment is expected to grow at a CAGR of XX% during the forecast period to reach a market valuation of USD XX billion by 2027. It is mainly owing to increased demand for gasoline ATVs in applications such as sports and military.

Based on engine type, the market is segmented into <400 CC, 400 to 800 CC, and >800 CC . The 400 to 800 CC segment generated revenue of USD XX billion in 2020. The segment is expected to grow at a CAGR of XX% during the forecast period to reach a market valuation of USD XX billion by 2027. It is mainly owing to surging off-road desert championships in the U.S.

For a better understanding of the market adoption of all-terrain vehicle, the market is analyzed based on United States presence. such North America constitutes the largest market for the industry and generated revenue of USD XX billion in 2020 predominantly because of USA which has the most usage of off-road desert championship and recreational activities.

Some of the major players operating in the market include Polaris Inc., American Honda Motor Co., Inc, Bombardier Recreational Products (BRP), Yamaha Motor Corporation, Arctic Cat Inc., Delair, BMW, CFMOTO Powersports, Textron, Deere & Company etc. Several M&A's along with partnerships have been undertaken by these players to boost their presence in different regions.