ATV & UTV Market to Witness Astonishing Growth by 2029

 

The global ATV & UTV market is anticipated to exhibit significant CAGR of 4.1% during the forecast period (2021-2027). The primary factors that are driving the global ATV and UTV market include the increasing trend of adventure sports and entertainment, the use of ATV and UTV in military operations, and government regulations to promote the development of the ATV and UTV industries. ATV and UTVs are getting popular over the years owing to the rising recreational activities. Tourism councils have started to integrate activities as trekking and hiking focused on ATV and UTV by building tracks to attract and hold tourists for a longer period of time in their countries. Annual championships are organized by plenty of countries, and this is gaining huge success as anyone able to drive ATV can compete in these championships. This rising trend of adventure sports draws visitors, and thus,is anticipated to augment the market growth of ATV and UTV over the forecast period.

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The COVID-19 outbreak has disrupted the supply chain of the global ATV & UTV industry. The travel and  trade restrictions imposed by several governments across the globe has made negative impact on the demand for off-road vehicles. The decline in the demand for off-road vehicles during COVID-19 pandemic has reflected in the sales of ATV & UTV in 2020. However, with the becoming situation, the market is anticipated to grow steadily with the improvement of economic activities across the globe.  

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·         Market Coverage

·         Market number available for – 2023-2029

·         Base year- 2022

·         Forecast period- 2023-2029

·         Segment Covered- By Source, By Product Type, By Applications

·         Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill 

·         Inc., and others

Global ATV & UTV Market Report Segment

By Vehicle Type 

• ATV
• UTV

By Propulsion Type 

• Gasoline Powered
• Diesel Powered
• Electric Powered

By End-User 

• Agriculture
• Construction
• Military
• Recreational
• Mountaineering

By Drivetrain Type 

• Two-Wheel Drive
• Three-Wheel Drive
• All-Wheel Drive

By Engine Size 

• Less than 400 CC
• 400 to 800 CC
• More than 800 CC)

Global ATV & UTV Market by Region

North America

• United States
• Canada

Europe

• UK
• Germany
• Italy
• Spain
• France
• Rest of Europe 

Asia-Pacific

• China
• India
• Japan
• South Korea
• Rest of Asia-Pacific 

Rest of the World

• Latin America 
• Middle East & Africa

The Report Covers    

• Market value data analysis of 2020 and forecast to 2027.
• Annualized market revenues ($ million) for each market segment.
• Country-wise analysis of major geographical regions.
• Key companies operating in the global ATV & UTV market. Based on the availability of data, information related to pipeline products, and relevant news is also available in the report.
• Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
• Analysis of market-entry and market expansion strategies.
• Competitive strategies by identifying ‘who-stands-where’ in the market. 

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