ATV and UTV market 2023-2027: A descriptive analysis of five forces model, market dynamics, and segmentation- Technavio

NEW YORK, Jan. 12, 2023 /PRNewswire/ — According to Technavio, the global ATV and UTV market size is estimated to grow by USD 4,262.38 million from 2022 to 2027. The market is estimated to grow at a CAGR of 6.97% during the forecast period. North America will account for 59% of the market’s growth during the forecast period.

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Global ATV and UTV market- Five forces

The global ATV and UTV market is fragmented, and the five forces analysis covers– 

• Bargaining Power of Buyers 
• The threat of New Entrants
• Threat of Rivalry
• Bargaining Power of Suppliers
• Threat of Substitutes
• Interpretation of porter’s five models helps to strategize the business, for entire details – buy the report!

Global ATV And UTV Market – Customer landscape 

The report includes the market’s adoption lifecycle, from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.

Global ATV And UTV market – Segmentation assessment

Segment overview

Technavio has segmented the market based on type (gasoline-powered, diesel-powered, electric-powered, and solar-powered), application (sports, utility, and others), and geography (North America, Europe, APAC, Middle East and Africa, and South America). 

• The market share growth of the gasoline powdered segment will be higher than the other segments during the forecast period. Since gasoline engines are lightweight, produce fewer vibrations and noises, and emit fewer emissions, they are frequently seen in passenger cars. Engine downsizing, which reduces the size of a gasoline engine relative to a diesel engine, is another significant element driving demand for gasoline engines.

Geography Overview

By geography, the global ATV and UTV market is segmented into North America, Europe, APAC, Middle East and Africa, and South America. The report provides actionable insights and estimates the contribution of all regions to the growth of the global ATV and UTV market.

• North America will account for 59% of the market’s growth during the forecast period. Off-road vehicles like ATVs and UTVs are very popular and in high demand in the US and Canada, which has helped to increase regional market share. The popularity and sales of ATVs and UTVs have also been greatly influenced by the abundance of off-road adventure activities in North America. This has directly contributed to revenue generation in the ATV and UTVs market in North America.

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Global ATV and UTV market – Market dynamics

A key factor driving market growth

• The increasing trend toward adventurous sporting is notably driving the market Therefore, such factors are expected to boost the growth of the global ATV and UTV market during the forecast period. The demand for off-road vehicles is rising due to the popularity of adventure and leisure sports in numerous regions, including North America, Europe, and APAC, which is anticipated to support the expansion of the global ATV and UTV market. Mountain and dirt racing are becoming increasingly popular, especially in North America and Europe.
• ATV and UTV sales are also growing due to the rising interest in leisure activities and off-road adventure competitions among enthusiasts in APAC’s emerging countries.

Leading trends influencing the market 

• Growing automation in ATVs and UTVs is a major trend in the market.
• The global ATV and UTV markets represent the automotive industry’s move from non-autonomous to autonomous and connected vehicle technology.
• Furthermore, Increasing product launches and Increasing marketing initiatives is expected to boost market growth during the forecast period.

Major challenges hindering the market growth

• The environmental concerns due to the use of ATVs and UTVs are major challenges impeding the market.
• ATVs and UTVs are made to make traveling over difficult and uneven terrain easier. Their landscape characteristics, meanwhile, have a negative impact on the environment, which makes market expansion difficult.
• Biologists claim that the characteristics of the soil can be harmed by the use of UTVs, ATVs, and other off-road vehicles. This is because ATVs and UTVs can cause soil erosion and increase soil bulk density, strength, and permeability.
•  The entire wildlife population is impacted by the behavioral changes and physiological responses of wildlife brought on by activities in the environment. Therefore, such environmental factors will hinder the growth of the market during the forecast period. 

Driver, Trend & Challenges are the factor of market dynamics that states about

consequences & sustainability of the businesses, find some insights from a sample

report!

What are the key data covered in this ATV and UTV market report?

• CAGR of the market during the forecast period
• Detailed information on factors that will drive the growth of the ATV and UTV market between 2023 and 2027
• Precise estimation of the size of the ATV and UTV market and its contribution to the parent market
• Accurate predictions about upcoming trends and changes in consumer behavior
• Growth of the ATV and UTV market across North America, Europe, APAC, Middle East and Africa, and South America
• A thorough analysis of the market’s competitive landscape and detailed information about vendors
• Comprehensive analysis of factors that will challenge the growth of ATV and UTV market vendors

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Table of Contents

1 Executive Summary

• 1.1 Market Overview 
• Exhibit 01: Executive Summary – Chart on Market Overview
• Exhibit 02: Executive Summary – Data Table on Market Overview
• Exhibit 03: Executive Summary – Chart on Global Market Characteristics
• Exhibit 04: Executive Summary – Chart on Market by Geography
• Exhibit 05: Executive Summary – Chart on Market Segmentation by Fuel Type
• Exhibit 06: Executive Summary – Chart on Market Segmentation by Application
• Exhibit 07: Executive Summary – Chart on Incremental Growth
• Exhibit 08: Executive Summary – Data Table on Incremental Growth
• Exhibit 09: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

• 2.1 Market ecosystem 
• Exhibit 10: Parent market
• Exhibit 11: Market Characteristics

3 Market Sizing

• 3.1 Market definition 
• Exhibit 12: Offerings of vendors included in the market definition

• 3.2 Market segment analysis 
• Exhibit 13: Market segments

• 3.3 Market size 2022

• 3.4 Market outlook: Forecast for 2022-2027 
• Exhibit 14: Chart on Global – Market size and forecast 2022-2027 ($ million)
• Exhibit 15: Data Table on Global – Market size and forecast 2022-2027 ($ million)
• Exhibit 16: Chart on Global Market: Year-over-year growth 2022-2027 (%)
• Exhibit 17: Data Table on Global Market: Year-over-year growth 2022-2027 (%)

4 Historic Market Size

• 4.1 Global atv and utv market 2017 – 2021 
• Exhibit 18: Historic Market Size – Data Table on Global atv and utv market 2017 – 2021 ($ million)

• 4.2 Fuel type Segment Analysis 2017 – 2021 
• Exhibit 19: Historic Market Size – Fuel type Segment 2017 – 2021 ($ million)

• 4.3 Application Segment Analysis 2017 – 2021
• Exhibit 20: Historic Market Size – Application Segment 2017 – 2021 ($ million)

• 4.4 Geography Segment Analysis 2017 – 2021 
• Exhibit 21: Historic Market Size – Geography Segment 2017 – 2021 ($ million)

• 4.5 Country Segment Analysis 2017 – 2021 
• Exhibit 22: Historic Market Size – Country Segment 2017 – 2021 ($ million)

5 Five Forces Analysis

• 5.1 Five forces summary 
• Exhibit 23: Five forces analysis – Comparison between 2022 and 2027

• 5.2 Bargaining power of buyers 
• Exhibit 24: Chart on Bargaining power of buyers – Impact of key factors 2022 and 2027

• 5.3 Bargaining power of suppliers 
• Exhibit 25: Bargaining power of suppliers – Impact of key factors in 2022 and 2027

• 5.4 Threat of new entrants 
• Exhibit 26: Threat of new entrants – Impact of key factors in 2022 and 2027

• 5.5 Threat of substitutes 
• Exhibit 27: Threat of substitutes – Impact of key factors in 2022 and 2027

• 5.6 Threat of rivalry 
• Exhibit 28: Threat of rivalry – Impact of key factors in 2022 and 2027

• 5.7 Market condition 
• Exhibit 29: Chart on Market condition – Five forces 2022 and 2027

6 Market Segmentation by Fuel Type

• 6.1 Market segments 
• Exhibit 30: Chart on Fuel Type – Market share 2022-2027 (%)
• Exhibit 31: Data Table on Fuel Type – Market share 2022-2027 (%)

• 6.2 Comparison by Fuel Type 
• Exhibit 32: Chart on Comparison by Fuel Type
• Exhibit 33: Data Table on Comparison by Fuel Type

• 6.3 Gasoline powered – Market size and forecast 2022-2027
• Exhibit 34: Chart on Gasoline powered – Market size and forecast 2022-2027 ($ million)
• Exhibit 35: Data Table on Gasoline powered – Market size and forecast 2022-2027 ($ million)
• Exhibit 36: Chart on Gasoline powered – Year-over-year growth 2022-2027 (%)
• Exhibit 37: Data Table on Gasoline powered – Year-over-year growth 2022-2027 (%)

• 6.4 Diesel powered – Market size and forecast 2022-2027
• Exhibit 38: Chart on Diesel powered – Market size and forecast 2022-2027 ($ million)
• Exhibit 39: Data Table on Diesel powered – Market size and forecast 2022-2027 ($ million)
• Exhibit 40: Chart on Diesel powered – Year-over-year growth 2022-2027 (%)
• Exhibit 41: Data Table on Diesel powered – Year-over-year growth 2022-2027 (%)

• 6.5 Electric powered – Market size and forecast 2022-2027
• Exhibit 42: Chart on Electric powered – Market size and forecast 2022-2027 ($ million)
• Exhibit 43: Data Table on Electric powered – Market size and forecast 2022-2027 ($ million)
• Exhibit 44: Chart on Electric powered – Year-over-year growth 2022-2027 (%)
• Exhibit 45: Data Table on Electric powered – Year-over-year growth 2022-2027 (%)

• 6.6 Solar powered – Market size and forecast 2022-2027
• Exhibit 46: Chart on Solar powered – Market size and forecast 2022-2027 ($ million)
• Exhibit 47: Data Table on Solar powered – Market size and forecast 2022-2027 ($ million)
• Exhibit 48: Chart on Solar powered – Year-over-year growth 2022-2027 (%)
• Exhibit 49: Data Table on Solar powered – Year-over-year growth 2022-2027 (%)

• 6.7 Market opportunity by Fuel Type 
• Exhibit 50: Market opportunity by Fuel Type ($ million)

7 Market Segmentation by Application

• 7.1 Market segments 
• Exhibit 51: Chart on Application – Market share 2022-2027 (%)
• Exhibit 52: Data Table on Application – Market share 2022-2027 (%)

• 7.2 Comparison by Application 
• Exhibit 53: Chart on Comparison by Application
• Exhibit 54: Data Table on Comparison by Application

• 7.3 Sports – Market size and forecast 2022-2027 
• Exhibit 55: Chart on Sports – Market size and forecast 2022-2027 ($ million)
• Exhibit 56: Data Table on Sports – Market size and forecast 2022-2027 ($ million)
• Exhibit 57: Chart on Sports – Year-over-year growth 2022-2027 (%)
• Exhibit 58: Data Table on Sports – Year-over-year growth 2022-2027 (%)

• 7.4 Utility – Market size and forecast 2022-2027
• Exhibit 59: Chart on Utility – Market size and forecast 2022-2027 ($ million)
• Exhibit 60: Data Table on Utility – Market size and forecast 2022-2027 ($ million)
• Exhibit 61: Chart on Utility – Year-over-year growth 2022-2027 (%)
• Exhibit 62: Data Table on Utility – Year-over-year growth 2022-2027 (%)

• 7.5 Others – Market size and forecast 2022-2027
• Exhibit 63: Chart on Others – Market size and forecast 2022-2027 ($ million)
• Exhibit 64: Data Table on Others – Market size and forecast 2022-2027 ($ million)
• Exhibit 65: Chart on Others – Year-over-year growth 2022-2027 (%)
• Exhibit 66: Data Table on Others – Year-over-year growth 2022-2027 (%)

• 7.6 Market opportunity by Application 
• Exhibit 67: Market opportunity by Application ($ million)

8 Customer Landscape

• 8.1 Customer landscape overview 
• Exhibit 68: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

9 Geographic Landscape

• 9.1 Geographic segmentation 
• Exhibit 69: Chart on Market share by geography 2022-2027 (%)
• Exhibit 70: Data Table on Market share by geography 2022-2027 (%)

• 9.2 Geographic comparison 
• Exhibit 71: Chart on Geographic comparison
• Exhibit 72: Data Table on Geographic comparison

• 9.3 North America – Market size and forecast 2022-2027
• Exhibit 73: Chart on North America – Market size and forecast 2022-2027 ($ million)
• Exhibit 74: Data Table on North America – Market size and forecast 2022-2027 ($ million)
• Exhibit 75: Chart on North America – Year-over-year growth 2022-2027 (%)
• Exhibit 76: Data Table on North America – Year-over-year growth 2022-2027 (%)

• 9.4 Europe – Market size and forecast 2022-2027 
• Exhibit 77: Chart on Europe – Market size and forecast 2022-2027 ($ million)
• Exhibit 78: Data Table on Europe – Market size and forecast 2022-2027 ($ million)
• Exhibit 79: Chart on Europe – Year-over-year growth 2022-2027 (%)
• Exhibit 80: Data Table on Europe – Year-over-year growth 2022-2027 (%)

• 9.5 APAC – Market size and forecast 2022-2027
• Exhibit 81: Chart on APAC – Market size and forecast 2022-2027 ($ million)
• Exhibit 82: Data Table on APAC – Market size and forecast 2022-2027 ($ million)
• Exhibit 83: Chart on APAC – Year-over-year growth 2022-2027 (%)
• Exhibit 84: Data Table on APAC – Year-over-year growth 2022-2027 (%)

• 9.6 Middle East and Africa – Market size and forecast 2022-2027 
• Exhibit 85: Chart on Middle East and Africa – Market size and forecast 2022-2027 ($ million)
• Exhibit 86: Data Table on Middle East and Africa – Market size and forecast 2022-2027 ($ million)
• Exhibit 87: Chart on Middle East and Africa – Year-over-year growth 2022-2027 (%)
• Exhibit 88: Data Table on Middle East and Africa – Year-over-year growth 2022-2027 (%)

• 9.7 South America – Market size and forecast 2022-2027
• Exhibit 89: Chart on South America – Market size and forecast 2022-2027 ($ million)
• Exhibit 90: Data Table on South America – Market size and forecast 2022-2027 ($ million)
• Exhibit 91: Chart on South America – Year-over-year growth 2022-2027 (%)
• Exhibit 92: Data Table on South America – Year-over-year growth 2022-2027 (%)

• 9.8 US – Market size and forecast 2022-2027
• Exhibit 93: Chart on US – Market size and forecast 2022-2027 ($ million)
• Exhibit 94: Data Table on US – Market size and forecast 2022-2027 ($ million)
• Exhibit 95: Chart on US – Year-over-year growth 2022-2027 (%)
• Exhibit 96: Data Table on US – Year-over-year growth 2022-2027 (%)

• 9.9 Canada – Market size and forecast 2022-2027
• Exhibit 97: Chart on Canada – Market size and forecast 2022-2027 ($ million)
• Exhibit 98: Data Table on Canada – Market size and forecast 2022-2027 ($ million)
• Exhibit 99: Chart on Canada – Year-over-year growth 2022-2027 (%)
• Exhibit 100: Data Table on Canada – Year-over-year growth 2022-2027 (%)

• 9.10 Germany – Market size and forecast 2022-2027
• Exhibit 101: Chart on Germany – Market size and forecast 2022-2027 ($ million)
• Exhibit 102: Data Table on Germany – Market size and forecast 2022-2027 ($ million)
• Exhibit 103: Chart on Germany – Year-over-year growth 2022-2027 (%)
• Exhibit 104: Data Table on Germany – Year-over-year growth 2022-2027 (%)

• 9.11 France – Market size and forecast 2022-2027
• Exhibit 105: Chart on France – Market size and forecast 2022-2027 ($ million)
• Exhibit 106: Data Table on France – Market size and forecast 2022-2027 ($ million)
• Exhibit 107: Chart on France – Year-over-year growth 2022-2027 (%)
• Exhibit 108: Data Table on France – Year-over-year growth 2022-2027 (%)

• 9.12 UK – Market size and forecast 2022-2027
• Exhibit 109: Chart on UK – Market size and forecast 2022-2027 ($ million)
• Exhibit 110: Data Table on UK – Market size and forecast 2022-2027 ($ million)
• Exhibit 111: Chart on UK – Year-over-year growth 2022-2027 (%)
• Exhibit 112: Data Table on UK – Year-over-year growth 2022-2027 (%)

• 9.13 Market opportunity by geography 
• Exhibit 113: Market opportunity by geography ($ million)

10 Drivers, Challenges, and Trends

• 10.1 Market drivers

• 10.2 Market challenges

• 10.3 Impact of drivers and challenges 
• Exhibit 114: Impact of drivers and challenges in 2022 and 2027

• 10.4 Market trends

11 Vendor Landscape

• 11.1 Overview

• 11.2 Vendor landscape 
• Exhibit 115: Overview on Criticality of inputs and Factors of differentiation

• 11.3 Landscape disruption 
• Exhibit 116: Overview on factors of disruption

• 11.4 Industry risks 
• Exhibit 117: Impact of key risks on business

12 Vendor Analysis

• 12.1 Vendors covered 
• Exhibit 118: Vendors covered

• 12.2 Market positioning of vendors 
• Exhibit 119: Matrix on vendor position and classification

• 12.3 Bombardier Recreational Products Inc. 
• Exhibit 120: Bombardier Recreational Products Inc. – Overview
• Exhibit 121: Bombardier Recreational Products Inc. – Business segments
• Exhibit 122: Bombardier Recreational Products Inc. – Key offerings
• Exhibit 123: Bombardier Recreational Products Inc. – Segment focus

• 12.4 Deere and Co. 
• Exhibit 124: Deere and Co. – Overview
• Exhibit 125: Deere and Co. – Business segments
• Exhibit 126: Deere and Co. – Key news
• Exhibit 127: Deere and Co. – Key offerings
• Exhibit 128: Deere and Co. – Segment focus

• 12.5 HISUN Motors Corp. 
• Exhibit 129: HISUN Motors Corp. – Overview
• Exhibit 130: HISUN Motors Corp. – Product / Service
• Exhibit 131: HISUN Motors Corp. – Key offerings

• 12.6 Honda Motor Co. Ltd 
• Exhibit 132: Honda Motor Co. Ltd – Overview
• Exhibit 133: Honda Motor Co. Ltd – Business segments
• Exhibit 134: Honda Motor Co. Ltd – Key news
• Exhibit 135: Honda Motor Co. Ltd – Key offerings
• Exhibit 136: Honda Motor Co. Ltd – Segment focus

• 12.7 Kawasaki Heavy Industries Ltd. 
• Exhibit 137: Kawasaki Heavy Industries Ltd. – Overview
• Exhibit 138: Kawasaki Heavy Industries Ltd. – Business segments
• Exhibit 139: Kawasaki Heavy Industries Ltd. – Key news
• Exhibit 140: Kawasaki Heavy Industries Ltd. – Key offerings
• Exhibit 141: Kawasaki Heavy Industries Ltd. – Segment focus

• 12.8 Kubota Corp. 
• Exhibit 142: Kubota Corp. – Overview
• Exhibit 143: Kubota Corp. – Business segments
• Exhibit 144: Kubota Corp. – Key news
• Exhibit 145: Kubota Corp. – Key offerings
• Exhibit 146: Kubota Corp. – Segment focus

• 12.9 KWANG YANG MOTOR Co. Ltd. 
• Exhibit 147: KWANG YANG MOTOR Co. Ltd. – Overview
• Exhibit 148: KWANG YANG MOTOR Co. Ltd. – Product / Service
• Exhibit 149: KWANG YANG MOTOR Co. Ltd. – Key offerings

• 12.10 Nebula Automotive Pvt. Ltd. 
• Exhibit 150: Nebula Automotive Pvt. Ltd. – Overview
• Exhibit 151: Nebula Automotive Pvt. Ltd. – Product / Service
• Exhibit 152: Nebula Automotive Pvt. Ltd. – Key offerings

• 12.11 Polaris Inc. 
• Exhibit 153: Polaris Inc. – Overview
• Exhibit 154: Polaris Inc. – Business segments
• Exhibit 155: Polaris Inc. – Key offerings
• Exhibit 156: Polaris Inc. – Segment focus

• 12.12 Suzuki Motor Corp. 
• Exhibit 157: Suzuki Motor Corp. – Overview
• Exhibit 158: Suzuki Motor Corp. – Business segments
• Exhibit 159: Suzuki Motor Corp. – Key offerings
• Exhibit 160: Suzuki Motor Corp. – Segment focus

• 12.13 Taiwan Golden Bee Co. Ltd. 
• Exhibit 161: Taiwan Golden Bee Co. Ltd. – Overview
• Exhibit 162: Taiwan Golden Bee Co. Ltd. – Product / Service
• Exhibit 163: Taiwan Golden Bee Co. Ltd. – Key offerings

• 12.14 Tao Motor Inc. 
• Exhibit 164: Tao Motor Inc. – Overview
• Exhibit 165: Tao Motor Inc. – Business segments
• Exhibit 166: Tao Motor Inc. – Key offerings
• Exhibit 167: Tao Motor Inc. – Segment focus

• 12.15 Textron Inc. 
• Exhibit 168: Textron Inc. – Overview
• Exhibit 169: Textron Inc. – Business segments
• Exhibit 170: Textron Inc. – Key news
• Exhibit 171: Textron Inc. – Key offerings
• Exhibit 172: Textron Inc. – Segment focus

• 12.16 Yamaha Motor Co. Ltd. 
• Exhibit 173: Yamaha Motor Co. Ltd. – Overview
• Exhibit 174: Yamaha Motor Co. Ltd. – Business segments
• Exhibit 175: Yamaha Motor Co. Ltd. – Key offerings
• Exhibit 176: Yamaha Motor Co. Ltd. – Segment focus

• 12.17 Zhejiang CfMoto Power Co. Ltd. 
• Exhibit 177: Zhejiang CfMoto Power Co. Ltd. – Overview
• Exhibit 178: Zhejiang CfMoto Power Co. Ltd. – Product / Service
• Exhibit 179: Zhejiang CfMoto Power Co. Ltd. – Key offerings

13 Appendix

• 13.1 Scope of the report

• 13.2 Inclusions and exclusions checklist 
• Exhibit 180: Inclusions checklist
• Exhibit 181: Exclusions checklist

• 13.3 Currency conversion rates for US$ 
• Exhibit 182: Currency conversion rates for US$

• 13.4 Research methodology 
• Exhibit 183: Research methodology
• Exhibit 184: Validation techniques employed for market sizing
• Exhibit 185: Information sources

• 13.5 List of abbreviations 
• Exhibit 186: List of abbreviations

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