All-terrain Vehicle Market

All-terrain Vehicle Market by Type & Application (Sport, Entertainment, Agri, Military & Defense), Drive (2WD, 4WD, AWD), Engine (<400, 400-800, >800cc), Fuel, Wheel Number, Seating Capacity, Side-By-Side Vehicle and Region - Global Forecast to 2027

Report Code: AT 7165 Feb, 2022, by marketsandmarkets.com

[231 Pages Report] The all-terrain vehicle market, by value, is projected to grow to USD 5.0 billion by 2027 from USD 4.3 billion in 2022, at a CAGR of 2.7% during the forecast period. The increasing demand for all-terrain vehicles in military, agriculture, and sports applications is the major factor driving the market.

All-terrain Vehicle Market

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Market Dynamics

All-terrain Vehicle Market Driver: Increased demand for recreational activities, agriculture and military operations.

The number of recreational events is constantly increasing every year. The all-terrain vehicle championships with off-terrain all-terrain vehicles in challenging conditions are organized by sports authorities at national levels. The US holds multiple racing events across the year where participants compete for title and rewards. World Off-Road Championship Series (WORCS) is one of the biggest racing events organized  in the country. Along with this, John Deere, a large agricultural and farm equipment manufacturer recently launched UTV models for farming applications. This due to high demand for such vehicles by customers working in the agriculture sector for various applications. For instance, in September 2020, John Deere updated its legendary line of Gator™ Utility Vehicles (UVs). Similarly, owing to the increase in military budgets around the world and successful applications of all-terrain vehicles in military operations due to their modularity and functionality it is expected that demand for such military special all-terrain vehicles will rise in the future.

All-terrain Vehicle Market Restrains: High accident rates and subsequent regulations may hamper the all-terrain vehicle demand.

The safety of passengers and vehicles is the prime concern for buyers and OEMs. Regulatory authorities around the world are aiming to improve vehicle safety. Often, drivers must keep an eye on the speed, navigation, and other data related to an all-terrain vehicle. Any distraction or ignorance from the operator may lead to major mishaps. The most common of these is caused when the all-terrain vehicle flips or rolls over. When this happens, the all-terrain vehicle driver and passenger can get ousted from the vehicle or even pinned down by it. In general, all-terrain vehicles are not designed to carry passengers at the back, but there is a common misconception surrounding the same. Doing so can put both passengers and the vehicle operator at high risk of an accident. Due to these reasons, strict safety provisions are led down by the governements which will have an impact on the overall demand of all-terrain vehicles, across different regions.

All-terrain Vehicle Market Opportunities: Positive outlook towards electric all-terrain vehicles will create new opportunities.

The adoption of technologies related to electric all-terrain vehicles has been increasing among all-terrain vehicle manufacturers. Leading markets for electric all-terrain vehicles such as China, US, and Germany are investing heavily in R&D infrastructure for off-road vehicles. Since there is a lot of pressure on OEMs, mainly due to new regulations implemented by the countries worldwide, to reduce their greenhouse gas emissions, most of this investment is likely to go towards the development of electric powered vehicles and same applies to all-terrain vehicle  market as well. In 2021, Polaris launched its EV all-terrain vehicle, Ranger XP Kinetic, model that it developed in collaboration with Zero motorcycles company. It has a 14.9kWH battery and can travel 45 miles on a single full charge. Polaris also partnered with a company Qmerit which is a provider of residential EV charging infrastructure. Similarly, in UK, the company Ecocharger is an all-electric all-terrain vehicle manufacturer. Their models are primarily driven by either lead acid or lithium-ion batteries. They have a strong presence in the European continent and have plans to expand dealerships across southern and central Europe. This indicates customers are demanding more electric all-terrain vehicles either from a climate conscious mind or to comply with the country regulations. Nonetheless electric all-terrain vehicles are set to have a growing market share in the future.

All-terrain Vehicle Market Challenges: Trade barriers across different regions & high cost of all-terrain vehicles.

The US and China trade barriers have also resulted in a slowdown of the two biggest economies in the world. China continues to deploy a combination of export restraints, including export quotas, export licensing, minimum export prices, export duties, and other restrictions, on the US, on several raw material inputs where it holds the leverage of being among the world’s leading producers. As the US, China and EU are the biggest market for exporting all-terrain vehicles globally, costs of the vehicles get affected because of high tariffs and difference in currency exchange rates between these regions. Along with this, recent developments in the EV all-terrain vehicle market have pressed OEMs to invest more money in the development of such products which is likely to drive the cost of EV vehicles upwards as they would want to recuperate their investments. all-terrain vehicle model prices vary depending on feature requirements. Higher the number of features would further add up the cost to the manufacturer resulting in higher selling price to the customers, which in end affects the buying behaviour of the consumers.

4WD all-terrain vehicles is estimated to be the largest market during the forecast period

The 4WD all-terrain vehicle is characterized by the engine’s power being equally/differentially divided among the wheels on the front and rear axles. Because of its better control capability and performance in the field, the 4WD all-terrain vehicles are mainly preferred for utility activities such as farming which require efficient pulling power like inspecting crops and livestock, applying fertilizers and chemicals, marking timber, moving dirt, and transporting materials etc. 4WD are also generally used in recreational activities and offer multiple technical advantages over 2WD. For instance, 4WD offers better holdback when driving downhill, less likely to flip while uphill, better traction inn slippery riding conditions etc. Thus, considering the advantages offered by the 4WD, it leads the all-terrain vehicle market and is expected to remain the dominant market in the forecast period.

Two-seat all-terrain vehicles is estimated to register the highest CAGR

Two-seat all-terrain vehicles are designed to carry both the rider and passenger. Two-seat all-terrain vehicles are generally used for recreational riding, transporting cargo, towing, transporting etc.  These all-terrain vehicles differ from sport all-terrain vehicles which are smaller, lighter, and designed for fast, extreme riding. The all-terrain vehicle market for two-seater all-terrain vehicle is estimated to grow during the forecast period due to shift in consumer pattern and likeliness for two-seater all-terrain vehicles and its associated benefits for recreational and occupational purposes. The companies are simultaneously strategizing their designs and models to accommodate the changes in buying pattern of the consumers and coming up with multiple seater capacity for all-terrain vehicles. In September 2021, Polaris launched RANGER SP 570, available in two-seat crew configurations with a 44 hp ProStar 570 engine and 1,500 pounds of towing capacity.

All-terrain Vehicle Market by Region

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Asia Pacific all-terrain vehicle market expected to register highest CAGR during the forecast period

The Asia Pacific market is expected to witness the highest CAGR during the forecast period, especially in India and China. In terms of volume, the major all-terrain vehicle countries in Asia Oceania are China and Australia out of which later is the largest seller of all-terrain vehicles in the region. Utility all-terrain vehicles are estimated to hold the largest share of the all-terrain vehicle market, by type, in the region. Utility all-terrain vehicles are multipurpose and can be used in different applications ranging from military, agriculture, construction to forestry, etc. In addition, the increasing demand for recreational and sports activities in countries such as India and Australia would further drive the all-terrain vehicle market. The region, thus, offers lucrative opportunities and tremendous potential for all-terrain vehicle manufacturers.

All-terrain Vehicle Market Ecosystem

All-terrain Vehicle Market Ecosystem

Key Market Players

The all-terrain vehicle market is primarily dominated by globally established players such Polaris (USA), Honda (Japan), Can-Am (Canada), Yamaha (Japan), and Textron (USA). These companies are consistently developing new products, adopted expansion strategies, and undertook collaborations, partnerships, and mergers & acquisitions to gain traction in this high growth market across different regions.

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Scope of the Report

Report Metric

Details

Market size available for years

2018–2027

Base year considered

2021

Forecast period

2022–2027

Forecast units

Volume (Units) & Value (USD Million)

Segments covered

By Type, Engine Capacity, Application, Number of Wheels, Seating Capacity, Drive Type, Fuel Type, Region, Side-by-Side

Geographies covered

North America, Asia Pacific, Europe, and Rest of the World

Companies Covered

The key players in the all-terrain vehicle market are Polaris (US), Textron (US), Honda (Japan), Kawasaki (Japan), Suzuki (Japan), and BRP (Canada).
Additionally, the report covers 20 major players.

This research report categorizes the all-terrain vehicle market based on type, application, seating capacity, number of wheels, drive type, engine type, application, and region.

All-terrain Vehicle Market, By Application

  • Sports
  • Entertainment
  • Agriculture
  • Military & Defense
  • Hunting & Forestry

All-terrain Vehicle Market, By Type

  • Utility all-terrain vehicle
  • Sport all-terrain vehicle

All-terrain Vehicle Market, By Drive Type

  • 2WD
  • 4WD
  • AWD

All-terrain Vehicle Market, By Seating capacity

  • One seat
  • Two seats

All-terrain Vehicle Market, By Number of wheels

  • Four wheel
  • > Four wheel

All-terrain Vehicle Market, By Fuel Type

  • Gasoline
  • Electric all-terrain vehicle

All-terrain Vehicle Market, By Engine Type

  • <400 CC
  • 400 to 800 CC
  • >800 CC

All-terrain Vehicle Market, By Region

  • Asia Oceania
  • Europe
  • North America
  • RoW

Side-by-side Market, By Region

  • Asia Oceania
  • Europe
  • North America

Recent Developments

  • In July 2021, Polaris introduced their first electric drive train line up powered by 110HP, 140lb-ft torque electric motor. It features 3 drive modes for the customer to choose from and has an 80-mile drive range on a single full charge. The vehicle also supports fast charging for its battery pack.
  • In October 2021, Polaris acquired new manufacturing facility at Monticello and now has in-house die casting capabilities making it a vertically integrated facility enabling better quality products and production efficiency.
  • In March 2021, Honda has introduced Overhead valve (OHV) air-cooled 229cc engine, which is longitudinally mounted, for more efficient power transfer. It also features Honda SportClutch™ that enables the rider to experience manual clutch actuation and no stalling when coming to a stop. Independent double-wishbone front suspension.
  • In August 2021, Textron introduced a new model named Alterra EPS 600 with new chassis design and electronic power steering (EPS). The dashboard features a Garmin GPS screen to track location, music and other members of the group without any hassle. Newly introduced design aides in keeping engine heat away from the rider.
  • In June 2021, Kawasaki launched BRUTE FORCEฎ 750 4x4i powered by a fuel-injected 749cc V-twin engine offers high-level performance for outdoor adventures. Traction and performance are improved by with variable control front differential lock, selectable drive modes and Continuously Variable Transmission (CVT). The vehicle comes with 1,250-lb towing capacity and independent suspension.. Double-cradle steel-tube frame provides straight-line tracking and responsive handling.
  • In September 2021, Yamaha designed Grizzly 90 for young all-terrain vehicle riders ages 10 and above. It is a sports model with low-maintenance 90cc engine that utilizes wet-sump lubrication and is air-cooled. The vehicle incorporates CVT for better transmission.

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TABLE OF CONTENTS

1 INTRODUCTION (Page No. - 23)
    1.1 OBJECTIVES
    1.2 ALL-TERRAIN VEHICLE MARKET DEFINITION
           1.2.1 INCLUSIONS & EXCLUSIONS
                    TABLE 1 SEGMENT-WISE INCLUSIONS & EXCLUSIONS
    1.3 MARKET SCOPE
          FIGURE 1 MARKET SEGMENTATION: ALL-TERRAIN VEHICLE MARKET
          FIGURE 2 MARKET: BY REGION
    1.4 SUMMARY OF CHANGES

2 RESEARCH METHODOLOGY (Page No. - 27)
    2.1 RESEARCH DATA
          FIGURE 3 ALL-TERRAIN VEHICLE MARKET: RESEARCH DESIGN
          FIGURE 4 RESEARCH METHODOLOGY MODEL
           2.1.1 SECONDARY DATA
                    2.1.1.1 List of key secondary sources to estimate base numbers
                    2.1.1.2 List of key secondary all-terrain vehicle sources
                    2.1.1.3 Key data from secondary sources
           2.1.2 PRIMARY DATA
                    FIGURE 5 BREAKDOWN OF PRIMARY INTERVIEWS
                    2.1.2.1 Sampling techniques & data collection methods
    2.2 MARKET SIZE ESTIMATION
          FIGURE 6 RESEARCH METHODOLOGY: HYPOTHESIS BUILDING
           2.2.1 BOTTOM-UP APPROACH: ALL-TERRAIN VEHICLE MARKET, BY TYPE
                    FIGURE 7 BOTTOM-UP APPROACH: MARKET
           2.2.2 TOP-DOWN APPROACH: MARKET
                    FIGURE 8 TOP-DOWN APPROACH: MARKET, BY ENGINE CAPACITY
                    FIGURE 9 MARKET: RESEARCH DESIGN & METHODOLOGY
           2.2.3 FACTOR ANALYSIS FOR ALL-TERRAIN VEHICLE MARKET SIZING: DEMAND AND SUPPLY SIDES
    2.3 FACTOR ANALYSIS
    2.4 MARKET BREAKDOWN AND DATA TRIANGULATION
          FIGURE 10 DATA TRIANGULATION
           2.4.1 GLOBAL ASSUMPTIONS
    2.5 ASSUMPTIONS
    2.6 RESEARCH LIMITATIONS

3 EXECUTIVE SUMMARY (Page No. - 41)
    3.1 PRE- VS POST-COVID-19 SCENARIO
          FIGURE 11 PRE- VS POST-COVID-19 SCENARIO: ALL-TERRAIN VEHICLE MARKET, 2018–2027 (USD MILLION)
          TABLE 2 MARKET: PRE- VS. POST-COVID-19 SCENARIO, 2018–2027 (USD MILLION)
    3.2 REPORT SUMMARY
          FIGURE 12 MARKET: MARKET OUTLOOK
          FIGURE 13 MARKET, BY REGION, 2022 VS. 2027 (USD MILLION)

4 PREMIUM INSIGHTS (Page No. - 46)
    4.1 ATTRACTIVE OPPORTUNITIES IN ALL-TERRAIN VEHICLE MARKET
          FIGURE 14 INCREASING PENETRATION OF UTILITY ATVS IN AGRICULTURE AND MILITARY & DEFENSE AND GROWING POPULARITY OF SPORTS AND RECREATIONAL ACTIVITIES/CHAMPIONSHIPS TO DRIVE MARKET
    4.2 MARKET, BY REGION
          FIGURE 15 ASIA OCEANIA ESTIMATED TO BE FASTEST-GROWING MARKET DURING FORECAST PERIOD
    4.3 MARKET, BY TYPE
          FIGURE 16 UTILITY ATV SEGMENT EXPECTED TO HOLD LARGER MARKET SHARE DURING FORECAST PERIOD
    4.4 MARKET, BY APPLICATION
          FIGURE 17 SPORT APPLICATION SEGMENT ESTIMATED TO LEAD MARKET DURING FORECAST PERIOD
    4.5 ALL-TERRAIN VEHICLE MARKET, BY DRIVE TYPE
          FIGURE 18 AWD SEGMENT TO WITNESS HIGHEST CAGR DURING FORECAST PERIOD
    4.6 MARKET, BY FUEL TYPE
          FIGURE 19 ELECTRIC SEGMENT PROJECTED TO REGISTER HIGHER CAGR THAN GASOLINE SEGMENT DURING FORECAST PERIOD
    4.7 MARKET, BY ENGINE CAPACITY
          FIGURE 20 400 TO 800CC SEGMENT ESTIMATED TO LEAD MARKET DURING FORECAST PERIOD
    4.8 MARKET, BY NUMBER OF WHEELS
          FIGURE 21 FOUR WHEELS ATVS SEGMENT ESTIMATED TO LEAD MARKET DURING FORECAST PERIOD
    4.9 MARKET, BY SEATING CAPACITY
          FIGURE 22 ONE-SEATER SEGMENT PROJECTED TO HOLD LARGER MARKET SHARE DURING FORECAST PERIOD
    4.10 SIDE-BY-SIDE MARKET, BY REGION
           FIGURE 23 ASIA OCEANIA PROJECTED TO WITNESS FASTEST GROWTH DURING FORECAST PERIOD

5 ALL-TERRAIN VEHICLE MARKET OVERVIEW (Page No. - 52)
    5.1 INTRODUCTION
    5.2 MARKET DYNAMICS
          FIGURE 24 MARKET: MARKET DYNAMICS
           5.2.1 DRIVERS
                    5.2.1.1 Increasing off-road recreational activities would drive demand for ATVs
                    5.2.1.2 Increasing demand for ATVs in agriculture and military & defense
                    5.2.1.3 Increasing purchasing power and spending capacity of individuals
           5.2.2 RESTRAINTS
                    5.2.2.1 High accident rates may hamper ATV sales
                                TABLE 3 REPORTED FATAL INCIDENTS ASSOCIATED WITH OFF-HIGHWAY VEHICLES IN US (2020)
                    5.2.2.2 Restriction on ATV usage in wildlife zones may hamper ATV demand
           5.2.3 OPPORTUNITIES
                    5.2.3.1 Increased use of technology in ATVs to drive demand
                    5.2.3.2 Positive outlook toward electric ATVs
           5.2.4 CHALLENGES
                    5.2.4.1 Trade barriers between different regions
                    5.2.4.2 High cost of ATVs
    5.3 COVID-19 IMPACT ON ATV INDUSTRY
    5.4 TRENDS/DISRUPTIONS IMPACTING CUSTOMER’S BUSINESS
          FIGURE 25 REVENUE SHIFT FOR ALL-TERRAIN VEHICLE MARKET
    5.5 MARKET SCENARIO
          FIGURE 26 MARKET SCENARIO, 2018–2027 (USD MILLION)
           5.5.1 MOST LIKELY/REALISTIC SCENARIO
                    TABLE 4 MARKET (REALISTIC SCENARIO), BY REGION, 2018–2027 (USD MILLION)
           5.5.2 HIGH COVID-19 IMPACT SCENARIO
                    TABLE 5 MARKET (HIGH COVID-19 IMPACT SCENARIO), BY REGION, 2018–2027 (USD MILLION)
           5.5.3 LOW COVID-19 IMPACT SCENARIO
                    TABLE 6 ALL-TERRAIN VEHICLE MARKET (LOW COVID-19 IMPACT SCENARIO), BY REGION, 2018–2027 (USD MILLION)
    5.6 PRICING ANALYSIS
          TABLE 7 AVERAGE PRICES OF ALL-TERRAIN VEHICLE TYPES, 2020-2022 (USD)
    5.7 PATENT ANALYSIS
          TABLE 8 PATENT REGISTRATIONS, 2017-2021
    5.8 VALUE CHAIN ANALYSIS
          FIGURE 27 VALUE CHAIN ANALYSIS: MARKET
    5.9 CASE STUDY ANALYSIS
    5.10 AVERAGE SELLING PRICE ANALYSIS
           5.10.1 TECHNOLOGY ANALYSIS
                    5.10.1.1 Honda Tests Prototype Autonomous Work Vehicle at Solar Construction Site with Black & Veatch
    5.11 MARKET ECOSYSTEM
           TABLE 9 ALL TERRAIN VEHICLE MARKET: ECOSYSTEM
    5.12 PORTER’S FIVE FORCES ANALYSIS
           TABLE 10 PORTER’S 5 FORCES IMPACT ON ALL-TERRAIN VEHICLE MARKET
           FIGURE 28 PORTER’S FIVE FORCES ANALYSIS
           5.12.1 THREAT OF NEW ENTRANTS
           5.12.2 THREAT OF SUBSTITUTES
           5.12.3 BARGAINING POWER OF SUPPLIERS
           5.12.4 BARGAINING POWER OF BUYERS
           5.12.5 INTENSITY OF COMPETITIVE RIVALRY
    5.13 TRADE ANALYSIS: SPECIALLY DESIGNED FOR TRAVELLING ON SNOW, GOLF CARS, AND SIMILAR VEHICLES
    5.14 REGULATORY LANDSCAPE
           TABLE 11 US: ALL-TERRAIN VEHICLE REGULATIONS
           TABLE 12 CANADA: ALL-TERRAIN VEHICLE REGULATIONS
           TABLE 13 AUSTRALIA: ALL-TERRAIN VEHICLE REGULATIONS

6 ALL-TERRAIN VEHICLE MARKET, BY DRIVE TYPE (Page No. - 77)
    6.1 INTRODUCTION
           6.1.1 RESEARCH METHODOLOGY
           6.1.2 INDUSTRY INSIGHTS
           6.1.3 ASSUMPTIONS
                    FIGURE 29 MARKET, BY DRIVE TYPE, 2022 VS. 2027 (USD MILLION)
                    TABLE 14 MARKET, BY DRIVE TYPE, 2018–2021 (UNITS)
                    TABLE 15 MARKET, BY DRIVE TYPE, 2022–2027 (UNITS)
                    TABLE 16 MARKET, BY DRIVE TYPE, 2018–2021 (USD MILLION)
                    TABLE 17 MARKET, BY DRIVE TYPE, 2022–2027 (USD MILLION)
    6.2 2WD
           6.2.1 TECHNICAL CHALLENGES AND GROWING POPULARITY OF 4WD EXPECTED TO IMPACT 2WD MARKET
                    TABLE 18 2WD: ALL-TERRAIN VEHICLE MARKET, BY REGION, 2018–2021 (UNITS)
                    TABLE 19 2WD: MARKET, BY REGION, 2022–2027 (UNITS)
                    TABLE 20 2WD: MARKET, BY REGION, 2018–2021 (USD MILLION)
                    TABLE 21 2WD: MARKET, BY REGION, 2022–2027 (USD MILLION)
    6.3 4WD
           6.3.1 TECHNICAL ADVANTAGES SUCH AS BETTER TRACTION AND ABILITY TO SWITCH TO 2WD EXPECTED TO DRIVE 4WD MARKET
                    TABLE 22 4WD: ALL-TERRAIN VEHICLE MARKET, BY REGION, 2018–2021 (UNITS)
                    TABLE 23 4WD: MARKET, BY REGION, 2022–2027 (UNITS)
                    TABLE 24 4WD: MARKET, BY REGION, 2018–2021 (USD MILLION)
                    TABLE 25 4WD: MARKET, BY REGION, 2022–2027 (USD MILLION)
    6.4 AWD
           6.4.1 GROWING TREND OF ELECTRIFICATION IN ATVS EXPECTED TO DRIVE AWD MARKET
                    TABLE 26 AWD: ALL-TERRAIN VEHICLE MARKET, BY REGION, 2018–2021 (UNITS)
                    TABLE 27 AWD: MARKET, BY REGION, 2022–2027 (UNITS)
                    TABLE 28 AWD: MARKET, BY REGION, 2018–2021 (USD MILLION)
                    TABLE 29 AWD: MARKET, BY REGION, 2022–2027 (USD MILLION)

7 ALL-TERRAIN VEHICLE MARKET, BY FUEL TYPE (Page No. - 86)
    7.1 INTRODUCTION
           7.1.1 RESEARCH METHODOLOGY
           7.1.2 ASSUMPTIONS
           7.1.3 INDUSTRY INSIGHTS: BY FUEL TYPE & REGION
                    FIGURE 30 MARKET, BY FUEL TYPE, 2022 VS. 2027 (USD MILLION)
                    TABLE 30 MARKET, BY FUEL TYPE, 2018–2021 (UNITS)
                    TABLE 31 MARKET, BY FUEL TYPE, 2022–2027 (UNITS)
                    TABLE 32 MARKET, BY FUEL TYPE, 2018–2021 (USD MILLION)
                    TABLE 33 MARKET, BY FUEL TYPE, 2022–2027 (USD MILLION)
    7.2 ELECTRIC ATV
           7.2.1 DEVELOPMENTS IN BATTERIES AND LAUNCHES OF VARIOUS ELECTRIC MODELS EXPECTED TO DRIVE MARKET
                    TABLE 34 ELECTRIC: ALL-TERRAIN VEHICLE MARKET, BY REGION, 2018–2021 (UNITS)
                    TABLE 35 ELECTRIC: MARKET, BY REGION, 2022–2027 (UNITS)
                    TABLE 36 ELECTRIC: MARKET, BY REGION, 2018–2021 (USD MILLION)
                    TABLE 37 ELECTRIC: MARKET, BY REGION, 2022–2027 (USD MILLION)
    7.3 GASOLINE ATV
           7.3.1 HIGHER EFFICIENCY AND WIDE APPLICATION AREA DRIVE GASOLINE ATV MARKET
                    TABLE 38 GASOLINE: ALL-TERRAIN VEHICLE MARKET, BY REGION, 2018–2021 (UNITS)
                    TABLE 39 GASOLINE: MARKET, BY REGION, 2022–2027 (UNITS)
                    TABLE 40 GASOLINE: MARKET, BY REGION, 2018–2021 (USD MILLION)
                    TABLE 41 GASOLINE: MARKET, BY REGION, 2022–2027 (USD MILLION)

8 ALL-TERRAIN VEHICLE MARKET, BY ENGINE CAPACITY (Page No. - 93)
    8.1 INTRODUCTION
           8.1.1 RESEARCH METHODOLOGY
           8.1.2 INDUSTRY INSIGHTS
           8.1.3 ASSUMPTIONS
                    FIGURE 31 MARKET, BY ENGINE CAPACITY, 2022 VS. 2027 (USD MILLION)
                    TABLE 42 MARKET, BY ENGINE CAPACITY, 2018–2021 (UNITS)
                    TABLE 43 MARKET, BY ENGINE CAPACITY, 2022–2027 (UNITS)
                    TABLE 44 MARKET, BY ENGINE CAPACITY, 2018–2021 (USD MILLION)
                    TABLE 45 MARKET, BY ENGINE CAPACITY, 2022–2027 (USD MILLION)
    8.2 <400CC
           8.2.1 ATVS HAVING <400CC ENGINE CAPACITY ARE USED IN SPORTS AND OFF-ROAD ACTIVITIES
                    TABLE 46 <400CC: ALL-TERRAIN VEHICLE MARKET, BY REGION, 2018–2021 (UNITS)
                    TABLE 47 <400CC: MARKET, BY REGION, 2022–2027 (UNITS)
                    TABLE 48 <400CC: MARKET, BY REGION, 2018–2021 (USD MILLION)
                    TABLE 49 <400CC: MARKET, BY REGION, 2022–2027 (USD MILLION)
    8.3 400--800CC
           8.3.1 HIGH DELIVERING POWER AND BETTER FUEL EFFICIENCY DRIVE THIS SEGMENT
                    TABLE 50 400-800CC: ALL-TERRAIN VEHICLE MARKET, BY REGION, 2018–2021 (UNITS)
                    TABLE 51 400-800CC: MARKET, BY REGION, 2022–2027 (UNITS)
                    TABLE 52 400-800CC: MARKET, BY REGION, 2018–2021 (USD MILLION)
                    TABLE 53 400-800CC: MARKET, BY REGION, 2022–2027 (USD MILLION)
    8.4 > 800CC
           8.4.1 ATVS WITH ENGINE CAPACITY >800CC OFFERS EXTREME POWER AND TORQUE REQUIREMENTS
                    TABLE 54 > 800CC: ALL-TERRAIN VEHICLE MARKET, BY REGION, 2018–2021 (UNITS)
                    TABLE 55 > 800CC: MARKET, BY REGION, 2022–2027 (UNITS)
                    TABLE 56 > 800CC: MARKET, BY REGION, 2018–2021 (USD MILLION)
                    TABLE 57 > 800CC: MARKET, BY REGION, 2022–2027 (USD MILLION)

9 ALL-TERRAIN VEHICLE MARKET, BY APPLICATION (Page No. - 101)
    9.1 INTRODUCTION
           9.1.1 RESEARCH METHODOLOGY
           9.1.2 ASSUMPTIONS
           9.1.3 INDUSTRY INSIGHTS
                    FIGURE 32 MARKET, BY APPLICATION, 2022 VS. 2027 (USD MILLION)
                    TABLE 58 MARKET, BY APPLICATION, 2018–2021 (UNITS)
                    TABLE 59 MARKET, BY APPLICATION, 2022–2027 (UNITS)
                    TABLE 60 MARKET, BY APPLICATION, 2018–2021 (USD MILLION)
                    TABLE 61 MARKET, BY APPLICATION, 2022–2027 (USD MILLION)
    9.2 SPORTS
           9.2.1 POPULARITY OF SPORTS EVENTS AND CHAMPIONSHIPS TO DRIVE DEMAND
                    TABLE 62 SPORTS: ALL-TERRAIN VEHICLE MARKET, BY REGION, 2018–2021 (UNITS)
                    TABLE 63 SPORTS: MARKET, BY REGION, 2022–2027 (UNITS)
                    TABLE 64 SPORTS: MARKET, BY REGION, 2018–2021 (USD MILLION)
                    TABLE 65 SPORTS: MARKET, BY REGION, 2022–2027 (USD MILLION)
    9.3 ENTERTAINMENT
           9.3.1 GROWING NUMBER OF LEISURE ENTHUSIASTS TO DRIVE DEMAND
                    TABLE 66 ENTERTAINMENT: ALL-TERRAIN VEHICLE MARKET, BY REGION, 2018–2021 (UNITS)
                    TABLE 67 ENTERTAINMENT: MARKET, BY REGION, 2022–2027 (UNITS)
                    TABLE 68 ENTERTAINMENT: MARKET, BY REGION, 2018–2021 (USD MILLION)
                    TABLE 69 ENTERTAINMENT: MARKET, BY REGION, 2022–2027 (USD MILLION)
    9.4 AGRICULTURE
           9.4.1 INCREASING FARM MECHANIZATION TO DRIVE DEMAND
                    TABLE 70 AGRICULTURE: ALL-TERRAIN VEHICLE MARKET, BY REGION, 2018–2021 (UNITS)
                    TABLE 71 AGRICULTURE: MARKET, BY REGION, 2022–2027 (UNITS)
                    TABLE 72 AGRICULTURE: MARKET, BY REGION, 2018–2021 (USD MILLION)
                    TABLE 73 AGRICULTURE: MARKET, BY REGION, 2022–2027 (USD MILLION)
    9.5 MILITARY & DEFENSE
           9.5.1 INCREASING RESEARCH AND INVESTMENTS IN DEVELOPMENT OF ATVS FOR EXTREME CONDITIONS TO DRIVE DEMAND
                    TABLE 74 MILITARY & DEFENSE: ALL-TERRAIN VEHICLE MARKET, BY REGION, 2018–2021 (UNITS)
                    TABLE 75 MILITARY & DEFENSE: MARKET, BY REGION, 2022–2027 (UNITS)
                    TABLE 76 MILITARY & DEFENSE: MARKET, BY REGION, 2018–2021 (USD MILLION)
                    TABLE 77 MILITARY & DEFENSE: MARKET, BY REGION, 2022–2027 (USD MILLION)
    9.6 OTHER (HUNTING & FORESTRY)
           9.6.1 INCREASING PENETRATION IN GOVERNMENT FOREST DEPARTMENTS & AVAILABILITY OF SEVERAL MODELS TO DRIVE DEMAND
                    TABLE 78 OTHER (HUNTING & FORESTRY): ALL-TERRAIN VEHICLE MARKET, BY REGION, 2018–2021 (UNITS)
                    TABLE 79 OTHER (HUNTING & FORESTRY): MARKET, BY REGION, 2022–2027 (UNITS)
                    TABLE 80 OTHER (HUNTING & FORESTRY): MARKET, BY REGION, 2018–2021 (USD MILLION)
                    TABLE 81 OTHER (HUNTING & FORESTRY): MARKET, BY REGION, 2022–2027 (USD MILLION)

10 ALL-TERRAIN VEHICLE MARKET, BY SEATING CAPACITY (Page No. - 114)
     10.1 INTRODUCTION
             10.1.1 RESEARCH METHODOLOGY
             10.1.2 BY SEATING CAPACITY, BY REGION: INDUSTRY INSIGHTS
             10.1.3 ASSUMPTIONS
                        FIGURE 33 MARKET, BY SEATING CAPACITY, 2022 VS. 2027 (USD MILLION)
                        TABLE 82 MARKET, BY SEATING CAPACITY, 2018–2021 (UNITS)
                        TABLE 83 MARKET, BY SEATING CAPACITY, 2022–2027 (UNITS)
                        TABLE 84 MARKET, BY SEATING CAPACITY, 2018–2021 (USD MILLION)
                        TABLE 85 MARKET, BY SEATING CAPACITY, 2022–2027 (USD MILLION)
     10.2 ONE-SEATER
             10.2.1 LOWER COST OF ONE-SEAT ATVS DRIVE THIS SEGMENT
                        TABLE 86 ONE-SEATER: ALL-TERRAIN VEHICLE MARKET, BY REGION, 2018–2021 (UNITS)
                        TABLE 87 ONE-SEATER: MARKET, BY REGION, 2022–2027 (UNITS)
                        TABLE 88 ONE-SEATER: MARKET, BY REGION, 2018–2021 (USD MILLION)
                        TABLE 89 ONE-SEATER: MARKET, BY REGION, 2022–2027 (USD MILLION)
     10.3 TWO-SEATER
             10.3.1 INCREASED DEMAND FOR RECREATIONAL RIDING AND TRANSPORTING CARGO DRIVE THIS SEGMENT
                        TABLE 90 TWO-SEATER: ALL-TERRAIN MARKET, BY REGION, 2018–2021 (UNITS)
                        TABLE 91 TWO-SEATER: ALL-TERRAIN MARKET, BY REGION, 2022–2027 (UNITS)
                        TABLE 92 TWO-SEATER: ALL-TERRAIN MARKET, BY REGION, 2018–2021 (USD MILLION)
                        TABLE 93 TWO-SEATER: ALL-TERRAIN MARKET, BY REGION, 2022–2027 (USD MILLION)

11 ALL-TERRAIN VEHICLE MARKET, BY NUMBER OF WHEELS (Page No. - 121)
     11.1 INTRODUCTION
             11.1.1 RESEARCH METHODOLOGY
             11.1.2 ASSUMPTIONS
             11.1.3 INDUSTRY INSIGHTS
                        FIGURE 34 MARKET, BY NUMBER OF WHEELS, 2022 VS. 2027 (USD MILLION)
                        TABLE 94 MARKET, BY NUMBER OF WHEELS, 2018–2021 (UNITS)
                        TABLE 95 MARKET, BY NUMBER OF WHEELS, 2022–2027 (UNITS)
                        TABLE 96 MARKET, BY NUMBER OF WHEELS, 2018–2021 (USD MILLION)
                        TABLE 97 MARKET, BY NUMBER OF WHEELS, 2022–2027 (USD MILLION)
     11.2 FOUR WHEELS
             11.2.1 INCREASED SPORTS AND RECREATIONAL ACTIVITIES EXPECTED TO DRIVE THIS SEGMENT
                        TABLE 98 FOUR WHEELS: ALL-TERRAIN VEHICLE MARKET, BY REGION, 2018–2021 (UNITS)
                        TABLE 99 FOUR WHEELS: MARKET, BY REGION, 2022–2027 (UNITS)
                        TABLE 100 FOUR WHEELS: MARKET, BY REGION, 2018–2021 (USD MILLION)
                        TABLE 101 FOUR WHEELS: MARKET, BY REGION, 2022–2027 (USD MILLION)
     11.3 >FOUR WHEELS
             11.3.1 GROWING DEMAND FOR UTILITY ATV IN AGRICULTURE, CONSTRUCTION, MINING IS EXPECTED TO DRIVE >FOUR-WHEEL ATV MARKET
                        TABLE 102 >FOUR WHEELS: ALL-TERRAIN VEHICLE MARKET, BY REGION, 2018–2021 (UNITS)
                        TABLE 103 >FOUR WHEELS: MARKET, BY REGION, 2022–2027 (UNITS)
                        TABLE 104 >FOUR WHEELS: MARKET, BY REGION, 2018–2021 (USD MILLION)
                        TABLE 105 >FOUR WHEELS: MARKET, BY REGION, 2022–2027 (USD MILLION)

12 ALL-TERRAIN VEHICLE MARKET, BY TYPE (Page No. - 128)

     12.1 INTRODUCTION
             12.1.1 RESEARCH METHODOLOGY
             12.1.2 ASSUMPTIONS
             12.1.3 INDUSTRY INSIGHTS: BY TYPE & REGION
                        FIGURE 35 MARKET, BY TYPE, 2022 VS. 2027 (USD MILLION)
                        TABLE 106 MARKET, BY TYPE, 2018–2021 (UNITS)
                        TABLE 107 MARKET, BY TYPE, 2022–2027 (UNITS)
                        TABLE 108 MARKET, BY TYPE, 2018–2021 (USD MILLION)
                        TABLE 109 MARKET, BY TYPE, 2022–2027 (USD MILLION)
     12.2 UTILITY ATV
             12.2.1 INCREASING APPLICATION OF ATVS IN FARMS AND AGRICULTURAL PRACTICES EXPECTED TO DRIVE THIS SEGMENT
                        TABLE 110 UTILITY: ALL-TERRAIN VEHICLE MARKET, BY REGION, 2018–2021 (UNITS)
                        TABLE 111 UTILITY: MARKET, BY REGION, 2022–2027 (UNITS)
                        TABLE 112 UTILITY: MARKET, BY REGION, 2018–2021 (USD MILLION)
                        TABLE 113 UTILITY: MARKET, BY REGION, 2022–2027 (USD MILLION)
     12.3 SPORTS ATV
             12.3.1 ASIA OCEANIA EXPECTED TO BE FASTEST-GROWING MARKET FOR SPORTS ATVS 133
                        TABLE 114 SPORTS: ALL-TERRAIN VEHICLE MARKET, BY REGION, 2018–2021 (UNITS)
                        TABLE 115 SPORTS: MARKET, BY REGION, 2022–2027 (UNITS)
                        TABLE 116 SPORTS: MARKET, BY REGION, 2018–2021 (USD MILLION)
                        TABLE 117 SPORTS: MARKET, BY REGION, 2022–2027 (USD MILLION)

13 ALL-TERRAIN VEHICLE MARKET, BY REGION (Page No. - 135)
     13.1 INTRODUCTION
             13.1.1 RESEARCH METHODOLOGY
             13.1.2 ASSUMPTIONS/LIMITATIONS
             13.1.3 INDUSTRY INSIGHTS
                        FIGURE 36 MARKET, BY REGION, 2022 VS. 2025 (USD MILLION)
                        TABLE 118 MARKET, BY REGION, 2018–2021 (UNITS)
                        TABLE 119 MARKET, BY REGION, 2022–2027 (UNITS)
                        TABLE 120 MARKET, BY REGION, 2018–2021 (USD MILLION)
                        TABLE 121 MARKET, BY REGION, 2022–2027 (USD MILLION)
     13.2 ASIA OCEANIA
             FIGURE 37 ASIA OCEANIA: ALL-TERRAIN VEHICLE MARKET (BY VALUE) SNAPSHOT
             TABLE 122 ASIA OCEANIA: MARKET, BY COUNTRY, 2018–2021 (UNITS)
             TABLE 123 ASIA OCEANIA: MARKET, BY COUNTRY, 2022–2027 (UNITS)
             TABLE 124 ASIA OCEANIA: MARKET, BY COUNTRY, 2018–2021 (USD MILLION)
             TABLE 125 ASIA OCEANIA: MARKET, BY COUNTRY, 2022–2027 (USD MILLION)
             13.2.1 CHINA
                        13.2.1.1 Domestic manufacturing of ATV is expected to the market
                                     TABLE 126 CHINA: ALL-TERRAIN VEHICLE MARKET, BY TYPE, 2018–2021 (UNITS)
                                     TABLE 127 CHINA: MARKET, BY TYPE, 2022–2027 (UNITS)
                                     TABLE 128 CHINA: MARKET, BY TYPE, 2018–2021 (USD MILLION)
                                     TABLE 129 CHINA: MARKET, BY TYPE, 2022–2027 (USD MILLION)
             13.2.2 AUSTRALIA
                        13.2.2.1 ATV safety regulations to drive Australian market with modest growth
                                     TABLE 130 AUSTRALIA: ALL-TERRAIN VEHICLE MARKET, BY TYPE, 2018–2021 (UNITS)
                                     TABLE 131 AUSTRALIA: MARKET, BY TYPE, 2022–2027 (UNITS)
                                     TABLE 132 AUSTRALIA: MARKET, BY TYPE, 2018–2021 (USD MILLION)
                                     TABLE 133 AUSTRALIA: MARKET, BY TYPE, 2022–2027 (USD MILLION)
             13.2.3 NEW ZEALAND
                        13.2.3.1 Increasing popularity of sports events and championships to drive sport ATV segment in New Zealand
                                     TABLE 134 NEW ZEALAND: MARKET, BY TYPE, 2018–2021 (UNITS)
                                     TABLE 135 NEW ZEALAND: MARKET, BY TYPE, 2022–2027 (UNITS)
                                     TABLE 136 NEW ZEALAND: MARKET, BY TYPE, 2018–2021 (USD MILLION)
                                     TABLE 137 NEW ZEALAND: MARKET, BY TYPE, 2022–2027 (USD MILLION)
             13.2.4 JAPAN
                        13.2.4.1 Popularity of ATVs in sports events is expected to drive ATV market in Japan
                                     TABLE 138 JAPAN: ALL-TERRAIN VEHICLE MARKET, BY TYPE, 2018–2021 (UNITS)
                                     TABLE 139 JAPAN: MARKET, BY TYPE, 2022–2027 (UNITS)
                                     TABLE 140 JAPAN: MARKET, BY TYPE, 2018–2021 (USD MILLION)
                                     TABLE 141 JAPAN: MARKET, BY TYPE, 2022–2027 (USD MILLION)
             13.2.5 INDIA
                        13.2.5.1 Launches of ATV models for agricultural purposes is expected to drive market
                                     TABLE 142 INDIA: MARKET, BY TYPE, 2018–2021 (UNITS)
                                     TABLE 143 INDIA: MARKET, BY TYPE, 2022–2027 (UNITS)
                                     TABLE 144 INDIA: MARKET, BY TYPE, 2018–2021 (USD MILLION)
                                     TABLE 145 INDIA: MARKET, BY TYPE, 2022–2027 (USD MILLION)
     13.3 EUROPE
             FIGURE 38 EUROPE: ALL-TERRAIN VEHICLE MARKET, BY COUNTRY, 2022 VS. 2027 (USD MILLION)
             TABLE 146 EUROPE: MARKET, BY COUNTRY, 2018–2021 (UNITS)
             TABLE 147 EUROPE: MARKET, BY COUNTRY, 2022–2027 (UNITS)
             TABLE 148 EUROPE: MARKET, BY COUNTRY, 2018–2021 (USD MILLION)
             TABLE 149 EUROPE: MARKET, BY COUNTRY, 2022–2027 (USD MILLION)
             13.3.1 GERMANY
                        13.3.1.1 Increasing penetration of ATVs in military and defense is expected to drive market
                                     TABLE 150 GERMANY: ALL-TERRAIN VEHICLE ALL-TERRAIN VEHICLE MARKET, BY TYPE, 2018–2021 (UNITS)
                                     TABLE 151 GERMANY: MARKET, BY TYPE, 2022–2027 (UNITS)
                                     TABLE 152 GERMANY: MARKET, BY TYPE, 2018–2021 (USD MILLION)
                                     TABLE 153 GERMANY: MARKET, BY TYPE, 2022–2027 (USD MILLION)
             13.3.2 FRANCE
                        13.3.2.1 Increasing adoption of ATVs in construction and farming activities to drive market
                                     TABLE 154 FRANCE: MARKET, BY TYPE, 2018–2021 (UNITS)
                                     TABLE 155 FRANCE: MARKET, BY TYPE, 2022–2027 (UNITS)
                                     TABLE 156 FRANCE: MARKET, BY TYPE, 2018–2021 (USD MILLION)
                                     TABLE 157 FRANCE: MARKET, BY TYPE, 2022–2027 (USD MILLION)
             13.3.3 RUSSIA
                        13.3.3.1 Presence of domestic players in Russia to drive market
                                     TABLE 158 RUSSIA: ALL-TERRAIN VEHICLE MARKET, BY TYPE, 2018–2021 (UNITS)
                                     TABLE 159 RUSSIA: MARKET, BY TYPE, 2022–2027 (UNITS)
                                     TABLE 160 RUSSIA: MARKET, BY TYPE, 2018–2021 (USD MILLION)
                                     TABLE 161 RUSSIA: MARKET, BY TYPE, 2022–2027 (USD MILLION)
             13.3.4 UK
                        13.3.4.1 Development of quad bike for military purposes to drive market in the UK
                                     TABLE 162 UK: MARKET, BY TYPE, 2018–2021 (UNITS)
                                     TABLE 163 UK: MARKET, BY TYPE, 2022–2027 (UNITS)
                                     TABLE 164 UK: MARKET, BY TYPE, 2018–2021 (USD MILLION)
                                     TABLE 165 UK: MARKET, BY TYPE, 2022–2027 (USD MILLION)
             13.3.5 SPAIN
                        13.3.5.1 Utility ATV is the largest growing segment in Spain
                                     TABLE 166 SPAIN: ALL-TERRAIN VEHICLE MARKET, BY TYPE, 2018–2021 (UNITS)
                                     TABLE 167 SPAIN: MARKET, BY TYPE, 2022–2027 (UNITS)
                                     TABLE 168 SPAIN: MARKET, BY TYPE, 2018–2021 (USD MILLION)
                                     TABLE 169 SPAIN: MARKET, BY TYPE, 2022–2027 (USD MILLION)
             13.3.6 SWEDEN
                        13.3.6.1 Growing sales of utility ATVs expected to drive market in Sweden
                                     TABLE 170 SWEDEN: MARKET, BY TYPE, 2018–2021 (UNITS)
                                     TABLE 171 SWEDEN: MARKET, BY TYPE, 2022–2027 (UNITS)
                                     TABLE 172 SWEDEN: MARKET, BY TYPE, 2018–2021 (USD MILLION)
                                     TABLE 173 SWEDEN: MARKET, BY TYPE, 2022–2027 (USD MILLION)
             13.3.7 REST OF EUROPE
                        TABLE 174 REST OF EUROPE: ALL-TERRAIN VEHICLE MARKET, BY TYPE, 2018–2021 (UNITS)
                        TABLE 175 REST OF EUROPE: MARKET, BY TYPE, 2022–2027 (UNITS)
                        TABLE 176 REST OF EUROPE: MARKET, BY TYPE, 2018–2021 (USD MILLION)
                        TABLE 177 REST OF EUROPE: MARKET, BY TYPE, 2022–2027 (USD MILLION)
     13.4 NORTH AMERICA
             FIGURE 39 NORTH AMERICA: MARKET, SNAPSHOT
             TABLE 178 NORTH AMERICA: MARKET, BY COUNTRY, 2018–2021 (UNITS)
             TABLE 179 NORTH AMERICA: MARKET, BY COUNTRY, 2022–2027 (UNITS)
             TABLE 180 NORTH AMERICA: MARKET, BY COUNTRY, 2018–2021 (USD MILLION)
             TABLE 181 NORTH AMERICA: MARKET, BY COUNTRY, 2022–2027 (USD MILLION)
             13.4.1 US
                        13.4.1.1 High preference towards recreational activities and growing usage of ATVs in military application drive the US market
                                     TABLE 182 US: ALL-TERRAIN VEHICLE MARKET, BY TYPE, 2018–2021 (UNITS)
                                     TABLE 183 US: MARKET, BY TYPE, 2022–2027 (UNITS)
                                     TABLE 184 US: MARKET, BY TYPE, 2018–2021 (USD MILLION)
                                     TABLE 185 US: MARKET, BY TYPE, 2022–2027 (USD MILLION)
             13.4.2 CANADA
                        13.4.2.1 Growing popularity of off-road racing events and government efforts to legalize ATVs in some provinces drive market growth
                                     TABLE 186 CANADA: MARKET, BY TYPE, 2018–2021 (UNITS)
                                     TABLE 187 CANADA: MARKET, BY TYPE, 2022–2027 (UNITS)
                                     TABLE 188 CANADA: MARKET, BY TYPE, 2018–2021 (USD MILLION)
                                     TABLE 189 CANADA: MARKET, BY TYPE, 2022–2027 (USD MILLION)
             13.4.3 MEXICO
                        13.4.3.1 Several cost-effective methods offered made the country a strategic hub for global off-road vehicle manufacturers
                                     TABLE 190 MEXICO: ALL-TERRAIN VEHICLE MARKET, BY TYPE, 2018–2021 (UNITS)
                                     TABLE 191 MEXICO: MARKET, BY TYPE, 2022–2027 (UNITS)
                                     TABLE 192 MEXICO: MARKET, BY TYPE, 2018–2021 (USD MILLION)
                                     TABLE 193 MEXICO: MARKET, BY TYPE, 2022–2027 (USD MILLION)
     13.5 REST OF THE WORLD (ROW)
             FIGURE 40 ROW: ALL-TERRAIN VEHICLE MARKET, BY COUNTRY, 2022 VS. 2027 (USD MILLION)
             TABLE 194 ROW: MARKET, BY COUNTRY, 2018–2021 (UNITS)
             TABLE 195 ROW: MARKET, BY COUNTRY, 2022–2027 (UNITS)
             TABLE 196 ROW: MARKET, BY COUNTRY, 2018–2021 (USD MILLION)
             TABLE 197 ROW: MARKET, BY COUNTRY, 2022–2027 (USD MILLION)
             13.5.1 BRAZIL
                        13.5.1.1 Increasing penetration of ATVs in government forest departments, availability of several models to drive market
                                     TABLE 198 BRAZIL: MARKET, BY TYPE, 2018–2021 (UNITS)
                                     TABLE 199 BRAZIL: MARKET, BY TYPE, 2022–2027 (UNITS)
                                     TABLE 200 BRAZIL: MARKET, BY TYPE, 2018–2021 (USD MILLION)
                                     TABLE 201 BRAZIL: MARKET, BY TYPE, 2022–2027 (USD MILLION)
             13.5.2 UAE
                        13.5.2.1 Tourism is driving the demand for sports ATVs in the region
                                     TABLE 202 UAE: ALL-TERRAIN VEHICLE MARKET, BY TYPE, 2018–2021 (UNITS)
                                     TABLE 203 UAE: MARKET, BY TYPE, 2022–2027 (UNITS)
                                     TABLE 204 UAE: MARKET, BY TYPE, 2018–2021 (USD MILLION)
                                     TABLE 205 UAE: MARKET, BY TYPE, 2022–2027 (USD MILLION)
             13.5.3 SOUTH AFRICA
                        13.5.3.1 Utility ATV is the largest segment in South Africa driven by access to difficult terrains
                                     TABLE 206 SOUTH AFRICA: MARKET, BY TYPE, 2018–2021 (UNITS)
                                     TABLE 207 SOUTH AFRICA: MARKET, BY TYPE, 2022–2027 (UNITS)
                                     TABLE 208 SOUTH AFRICA: MARKET, BY TYPE, 2018–2021 (USD MILLION)
                                     TABLE 209 SOUTH AFRICA: MARKET, BY TYPE, 2022–2027 (USD MILLION)
             13.5.4 SAUDI ARABIA
                        13.5.4.1 Sports ATV is the largest segment in Saudi Arabia
                                     TABLE 210 SAUDI ARABIA: ALL-TERRAIN VEHICLE MARKET, BY TYPE, 2018–2021 (UNITS)
                                     TABLE 211 SAUDI ARABIA: MARKET, BY TYPE, 2022–2027 (UNITS)
                                     TABLE 212 SAUDI ARABIA: MARKET, BY TYPE, 2018–2021 (USD MILLION)
                                     TABLE 213 SAUDI ARABIA: MARKET, BY TYPE, 2022–2027 (USD MILLION)

14 SIDE-BY-SIDE MARKET, BY REGION (Page No. - 173)
     14.1 INTRODUCTION
             14.1.1 RESEARCH METHODOLOGY
             14.1.2 ASSUMPTIONS
             14.1.3 INDUSTRY INSIGHTS: BY REGION
                        FIGURE 41 SIDE-BY-SIDE MARKET, BY REGION, 2022 VS. 2027 (USD MILLION)
                        TABLE 214 SIDE-BY-SIDE MARKET, BY REGION, 2018–2021 (UNITS)
                        TABLE 215 SIDE-BY-SIDE MARKET, BY REGION, 2022–2027 (UNITS)
                        TABLE 216 SIDE-BY-SIDE MARKET, BY REGION, 2018–2021 (USD MILLION)
                        TABLE 217 SIDE-BY-SIDE MARKET, BY REGION, 2022–2027 (USD MILLION)

15 RECOMMENDATIONS BY MARKETSANDMARKETS (Page No. - 177)
     15.1 ASIA OCEANIA ESTIMATED TO BE ATTRACTIVE MARKET FOR ALL-TERRAIN VEHICLE
     15.2 >800CC ATVS AND SIDE-BY-SIDE ARE EXPECTED TO CREATE NEW REVENUE POCKETS IN FUTURE
     15.3 ELECTRIC ATVS EXPECTED TO OFFER ATTRACTIVE OPPORTUNITIES TO MANUFACTURERS
     15.4 CONCLUSION

16 COMPETITIVE LANDSCAPE (Page No. - 179)
     16.1 OVERVIEW
             TABLE 218 COMPANIES ADOPTED NEW PRODUCT DEVELOPMENT AS KEY GROWTH STRATEGY, 2019–2021
     16.2 ALL-TERRAIN VEHICLE MARKET SHARE ANALYSIS, 2020
             TABLE 219 MARKET: MARKET SHARE ANALYSIS, 2020
             FIGURE 42 MARKET SHARE, 2020
     16.3 REVENUE ANALYSIS OF TOP 5 ALL-TERRAIN VEHICLE PLAYERS
             FIGURE 43 REVENUE ANALYSIS OF TOP ALL-TERRAIN VEHICLE PLAYERS
             TABLE 220 ALL-TERRAIN VEHICLE AND SIDE-BY-SIDE MARKET: COMPANY PRODUCT FOOTPRINT, 2021
             TABLE 221 ALL-TERRAIN VEHICLE AND SIDE-BY-SIDE MARKET: COMPANY APPLICATION FOOTPRINT, 2021
             TABLE 222 ALL TERRAIN VEHICLE MARKET: COMPANY REGION FOOTPRINT, 2020
             FIGURE 44 ALL-TERRAIN VEHICLE MANUFACTURERS: COMPETITIVE EVALUATION MATRIX, 2021
     16.4 COMPETITIVE EVALUATION QUADRANT: ALL-TERRAIN VEHICLE MANUFACTURERS
             16.4.1 STAR
             16.4.2 EMERGING LEADERS
             16.4.3 PERVASIVE
             16.4.4 PARTICIPANTS
     16.5 COMPETITIVE EVALUATION QUADRANT: SIDE BY SIDE MANUFACTURERS
             FIGURE 45 SIDE-BY-SIDE MANUFACTURERS: COMPETITIVE EVALUATION MATRIX, 2021
             16.5.1 STAR
             16.5.2 EMERGING LEADERS
             16.5.3 PERVASIVE
             16.5.4 PARTICIPANTS
     16.6 COMPETITIVE SCENARIO
             16.6.1 NEW PRODUCT LAUNCHES
                        TABLE 223 PRODUCT LAUNCHES, 2021
             16.6.2 DEALS
                        TABLE 224 DEALS, 2021
             16.6.3 EXPANSIONS, 2021
                        TABLE 225 EXPANSIONS, 2021

17 COMPANY PROFILES (Page No. - 191)
(Business overview, Products offered, Recent Developments, MNM view)*
     17.1 KEY PLAYERS
             17.1.1 POLARIS
                        TABLE 226 POLARIS: BUSINESS OVERVIEW
                        FIGURE 46 POLARIS: COMPANY SNAPSHOT
                        TABLE 227 POLARIS: PRODUCTS OFFERED
                        TABLE 228 POLARIS: NEW PRODUCT DEVELOPMENTS
                        TABLE 229 POLARIS: DEALS
                        TABLE 230 POLARIS: OTHER DEVELOPMENTS
             17.1.2 HONDA
                        TABLE 231 HONDA: BUSINESS OVERVIEW
                        FIGURE 47 HONDA: COMPANY SNAPSHOT
                        TABLE 232 HONDA: PRODUCTS OFFERED
                        TABLE 233 HONDA: NEW PRODUCT DEVELOPMENTS
                        TABLE 234 HONDA: DEALS
             17.1.3 TEXTRON
                        TABLE 235 TEXTRON: BUSINESS OVERVIEW
                        FIGURE 48 TEXTRON: COMPANY SNAPSHOT
                        TABLE 236 TEXTRON: PRODUCTS OFFERED
                        TABLE 237 TEXTRON: NEW PRODUCT DEVELOPMENTS
             17.1.4 KAWASAKI
                        TABLE 238 KAWASAKI: BUSINESS OVERVIEW
                        FIGURE 49 KAWASAKI: COMPANY SNAPSHOT
                        TABLE 239 KAWASAKI: PRODUCTS OFFERED
                        TABLE 240 KAWASAKI: NEW PRODUCT DEVELOPMENTS
                        TABLE 241 KAWASAKI: OTHER DEVELOPMENT
             17.1.5 YAMAHA
                        TABLE 242 YAMAHA: BUSINESS OVERVIEW
                        FIGURE 50 YAMAHA: COMPANY SNAPSHOT
                        TABLE 243 YAMAHA: PRODUCTS OFFERED
                        TABLE 244 YAMAHA: NEW PRODUCT DEVELOPMENT
             17.1.6 SUZUKI
                        TABLE 245 SUZUKI: BUSINESS OVERVIEW
                        FIGURE 51 SUZUKI: COMPANY SNAPSHOT
                        TABLE 246 SUZUKI: PRODUCTS OFFERED
                        TABLE 247 SUZUKI: NEW PRODUCT DEVELOPMENT
             17.1.7 JOHN DEERE
                        TABLE 248 JOHN DEERE: BUSINESS OVERVIEW
                        FIGURE 52 JOHN DEERE: COMPANY SNAPSHOT
                        TABLE 249 JOHN DEERE: PRODUCTS OFFERED
                        TABLE 250 JOHN DEERE: NEW PRODUCT DEVELOPMENT
             17.1.8 BRP
                        TABLE 251 BRP: BUSINESS OVERVIEW
                        FIGURE 53 BRP: COMPANY SNAPSHOT
                        TABLE 252 BRP: PRODUCTS OFFERED
                        TABLE 253 BRP: NEW PRODUCT DEVELOPMENTS
     17.2 ALL-TERRAIN VEHICLE MARKET – ADDITIONAL PLAYERS
             17.2.1 HISUN MOTORS
                        TABLE 254 HISUN MOTORS: BUSINESS OVERVIEW
             17.2.2 BENNCHE MOTORS
                        TABLE 255 BENNCHE MOTORS: BUSINESS OVERVIEW
             17.2.3 AMERICAN LANDMASTER
                        TABLE 256 AMERICAN LANDMASTER: BUSINESS OVERVIEW
             17.2.4 VELOMOTORS
                        TABLE 257 VELOMOTORS: BUSINESS OVERVIEW
             17.2.5 ECOCHARGER
                        TABLE 258 ECOCHARGER: BUSINESS OVERVIEW
             17.2.6 BALTMOTORS
                        TABLE 259 BALTMOTORS: BUSINESS OVERVIEW
             17.2.7 CECTEK
                        TABLE 260 CECTEK: BUSINESS OVERVIEW
             17.2.8 NEBULA AUTOMOTIVE
                        TABLE 261 NEBULA AUTOMOTIVE: BUSINESS OVERVIEW
             17.2.9 TAIWAN GOLDEN BEE
                        TABLE 262 TAIWAN GOLDEN BEE: BUSINESS OVERVIEW
             17.2.10 KYMCO
                        TABLE 263 KYMCO: BUSINESS OVERVIEW
             17.2.11 CFMOTO
                        TABLE 264 CFMOTO: BUSINESS OVERVIEW
             17.2.12 LINHAI
                        TABLE 265 LINHAI: BUSINESS OVERVIEW

*Details on Business overview, Products offered, Recent Developments, MNM view might not be captured in case of unlisted companies.

18 APPENDIX (Page No. - 222)
     18.1 CURRENCY & PRICING
             TABLE 266 CURRENCY EXCHANGE RATES (WRT PER USD)
     18.2 INSIGHTS OF INDUSTRY EXPERTS
     18.3 DISCUSSION GUIDE
     18.4 KNOWLEDGE STORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL
     18.5 AVAILABLE CUSTOMIZATIONS
             18.5.1 SIDE-BY-SIDE VEHICLE MARKET, BY APPLICATION
                        18.5.1.1 Sports
                        18.5.1.2 Entertainment
                        18.5.1.3 Agriculture
                        18.5.1.4 Military & defense
                        18.5.1.5 Others (Hunting & forestry)
             18.5.2 SIDE BY SIDE VEHICLE MARKET, BY FUEL TYPE
                        18.5.2.1 Gasoline
                        18.5.2.2 Diesel
                        18.5.2.3 Electric
             18.5.3 SIDE BY SIDE VEHICLE MARKET, BY REGION
                        18.5.3.1 Asia Oceania
                        18.5.3.2 Europe
                        18.5.3.3 North America
                        18.5.3.4 Rest of the World
     18.6 RELATED REPORTS
     18.7 AUTHOR DETAILS

The study involved four major activities in estimating the current size of the all-terrain vehicle market. Exhaustive secondary research was carried out to collect information on the market, the peer market, and the parent market. The next step was to validate these findings, assumptions, and sizing with the industry experts across value chains through primary research. The bottom-up and top-down approaches were employed to estimate the complete market size. Thereafter, market breakdown and data triangulation processes were used to estimate the market size of segments and subsegments.

Secondary Research

The all-terrain vehicle market is directly dependent on vehicle production. all-terrain vehicle sales/registrations volume was derived through secondary sources such as automotive industry organizations; corporate filings (such as annual reports, investor presentations, and financial statements); and trade, paid repository, and automotive associations such as Motorcycle Industry Council, Abraciclo, Agricultural Engineers Association (AEA), Canadian Off-Highway Vehicle Distributors Council, etc. Historical sales/registrations data was collected and analyzed, and the industry trend was considered to arrive at the forecast, which was further validated by primary research.

Primary Research

In the primary research process, various primary sources from both the supply and demand sides were interviewed to obtain qualitative and quantitative information on the market. The primary sources from the supply side included various industry experts, such as CXOs, vice presidents, directors from business development, marketing, and product development/innovation teams, and related key executives from various key companies. Various system integrators, industry associations, independent consultants/industry veterans, and key opinion leaders were also interviewed.

Primary interviews were conducted to gather insights such as all-terrain vehicle sales/registrations and forecast, all-terrain vehicle market forecast, future technology trends, and upcoming technologies in the all-terrain vehicle industry. Data triangulation of all these points was carried out with the information gathered from secondary research as well as model mapping. Stakeholders from the demand as well as supply sides were interviewed to understand their views on the points mentioned above.

Primary interviews were conducted with market experts from both the demand (all-terrain vehicle solution and service providers) and supply sides across four major regions, namely, North America, Europe, Asia Pacific, and Rest of the World. Approximately 90% and 10% of primary interviews were conducted from the supply side and others, respectively. Primary data was collected through questionnaires, emails, and telephonic interviews. In the canvassing of primaries, we have strived to cover various departments within organizations, such as sales and operations, to provide a holistic viewpoint in our report.

After interacting with industry experts, we have also conducted brief sessions with highly experienced independent consultants to reinforce the findings from our primaries. This, along with the in-house subject matter experts’ opinions, has led us to the findings as described in the remainder of this report.

All-terrain Vehicle Market Size, and Share

To know about the assumptions considered for the study, download the pdf brochure

Market Size Estimation

A detailed market estimation approach was followed to estimate and validate the value of the all-terrain vehicle market and other dependent submarkets, as mentioned below:

  • Key players in the all-terrain vehicle market for automotive were identified through secondary research, and their global market shares were determined through primary and secondary research.
  • The research methodology included a study of annual and quarterly financial reports and regulatory filings of major market players (public) as well as interviews with industry experts for detailed market insights.
  • All industry-level penetration rates, percentage shares, splits, and breakdowns for the all-terrain vehicle market for automotive were determined using secondary sources and verified through primary sources.
  • All key macro indicators affecting the revenue growth of the market segments and subsegments were accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the validated and verified quantitative and qualitative data.
  • The gathered market data was consolidated and added with detailed inputs, analyzed, and presented in this report.
  • Qualitative aspects such as market drivers, restraints, opportunities, and challenges were taken into consideration while calculating and forecasting the market size.

Bottom-Up Approach: All-Terrain Vehicle Market, by Type and Region

All-terrain Vehicle Market Size, and Share

To know about the assumptions considered for the study, Request for Free Sample Report

Top-Down Approach: By Seating Capacity, Number of Wheels, Drive Type, Engine Capacity, Application, Fuel Type

All-terrain Vehicle Market Size, and Share

Data Triangulation

  • After arriving at the overall market size—using the market size estimation processes as explained above—the market was split into several segments and subsegments. To complete the overall market engineering process and arrive at the exact statistics of each market segment and subsegment, data triangulation and market breakdown procedures were employed, wherever applicable. The data was triangulated by studying various factors and trends from both the demand and supply sides.

Report Objectives

  • To define, segment, analyze, and forecast (2022–2027) the all-terrain vehicle market size, in terms of volume (units) and value (USD million) based on:
    • Type (utility ATV and sport ATV)
    • Application (sport, entertainment, agriculture, military & defense, and others)
    • Seating Capacity (one seat and two seats)
    • Number of Wheels (four wheel and >four wheels)
    • Drive Type (2WD, 4WD, and AWD)
    • Engine Capacity (<400cc, 400–800cc, and >800cc)
    • Fuel Type (Gasoline and Electric)
    • Region (North America, Europe, Asia Pacific, and the Rest of the World (RoW))
    • Side-by-Side (North America, Europe, Asia Pacific)
  • To analyze the impact of COVID-19 on the all-terrain vehicle market (pre-COVID-19 vs. post-COVID-19)
  • To analyze the most likely, low-impact, and high-impact scenarios of COVID-19 on the market
  • To understand the market dynamics (drivers, restraints, opportunities, and challenges) of the all-terrain vehicle market
  • To study the following with respect to the market
    • Value Chain Analysis
    • Ecosystem
    • Porter’s Five Forces Analysis
    • Technology Analysis
    • Trade Analysis
    • Case Study Analysis
    • Patent Analysis
    • Regulatory Landscape
  • To estimate the following with respect to the market
    • Average Selling Price Analysis
    • Market Share Analysis
    • Ranking Analysis of Top 5 Players
    • COVID-19 Market Scenario Analysis
  • To analyze the market ranking of key players operating in the all-terrain vehicle market
  • To analyze the competitive landscape and prepare a competitive leadership mapping/ranking quadrant for the global players operating in the all-terrain vehicle market
  • To analyze recent developments, alliances, joint ventures, mergers & acquisitions, new product launches, and other activities carried out by key industry participants in the all-terrain vehicle market

Available Customizations

With the given market data, MarketsandMarkets offers customizations in accordance with a company’s specific needs.

Side By Side Vehicle Market, By Application

  • Sports
  • Entertainment
  • Agriculture
  • Military & Defense
  • Others (Hunting & Forestry)

Side By Side Vehicle Market, By Fuel Type

  • Gasoline
  • Diesel
  • Electric

Side By Side Vehicle Market, By Region

  • Asia Pacific
  • Europe
  • North America
  • ROW

Note: The countries would be covered: Asia Pacific (China, Australia, New Zealand, India, and Japan), Europe (Germany, France, UK, Spain, Sweden, Russia, and Rest of Europe), North America (US, Canada, and Mexico), and the Rest of World (South Africa, UAE, Saudi Arabia, and Brazil)

Report Code
AT 7165
Published ON
Feb, 2022
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