All-terrain Vehicle Market

Market Leader - All-terrain Vehicle Market

The all-terrain vehicle market, by value, is projected to grow to USD 4.4 billion by 2025 from USD 3.9 billion in 2020, at a CAGR of 2.4% during the forecast period. The rising popularity of ATVs in recreational activities, mainly worldwide championships, and increasing demand for ATVs in different applications such as agriculture, mining, and military are expected to drive the growth of the all-terrain vehicle market.

New product development is the key strategy adopted by the major players in the all-terrain vehicle market from 2017 to 2020. All-terrain vehicle manufacturers and tier-I suppliers are focusing on the development of technology and different designs of ATVs. The manufacturers increasingly prefer GPS and digital dashboards, aiding operators in monitoring ATV functions and toggle between multiple surfaces. For instance, in August 2020, for 2021, Polaris unveiled the all-new Sportsman 450 H.O. and Sportsman 570, elevating its already industry-leading ATV offering. Polaris started with the iconic Sportsman features that riders know and love and advanced them even further, raising the bar yet again. This new generation Sportsman is the smoothest, strongest, and most versatile value ATV – the perfect choice for riders of all experiences and skill levels.

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The all-terrain vehicle market is dominated by a few global players and comprises several regional players. Polaris Industries, Inc. (US) is expected to be the leading player in the all-terrain vehicle market. The company is a globally renowned supplier of all-terrain vehicles. The company follows the strategy of new product developments to gain a competitive edge in the all-terrain vehicle market. In May 2020, for 2021, Kawasaki is introducing three new models tailored to meet industrial or commercial job site requirements. These models are designed for government or fleet customers that operate any sizes fleets of Side-By-Sides and want features that enhance the capabilities of their fleet vehicles. They include the two-row, six-passenger MULE PRO-DXT EPS FE, the two-row, four-passenger MULE 4010 Trans4x4 FE, and the single-row, two-passenger MULE 4010 4X4 FE.

Yamaha Motor Co., Ltd. (US) is also a leading player in the all-terrain vehicle market. The company invests heavily in R&D activities. It also plans to expand its all-terrain vehicle portfolio to cater to various customers around the world while establishing itself as a strong player in the market. It has adopted the strategy of partnerships/collaborations/joint ventures/agreements/supply contracts to increase its presence in the all-terrain vehicle market. In March 2017, Yamaha Motor Corp, USA acquired Kracor Inc., which makes motorcycles, outboard motors, ATVs, personal watercraft, snowmobiles, and other products. It formed a new subsidiary, Yamaha Marine Systems Co., to acquire the assets of Kracor.

Related Reports:

All-terrain Vehicle Market by Type & Application (Sport, Entertainment, Agriculture, Military & Defense), Drive (2WD, 4WD, AWD), Engine (<400, 400-800, >800cc), Fuel (Gasoline, Electric), Wheel Number, Seating Capacity, and Region - Global Forecast to 2025

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Report Code
AT 7165
RI Published ON
6/18/2021
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