All-Terrain Vehicle Market Share

North American Market Statistics

North America industry is likely to hold largest revenue share of 34% by 2037. This growth is attributed majorly to the presence of key manufacturers of all-terrain vehicles in the region. Furthermore, there has been an increasing adoption of all-terrain vehicles in the region owing to various factors, such as the upcoming electric vehicle projects, research and development on new and sophisticated technologies. In addition, the surging disposable income of the people is increasing their investment in the entertainment sectors, such as off-roading, and events. The North American region also has various parks that uses all-terrain vehicles in order to attract tourists. Therefore, these factors are anticipated to expand the growth of the market in the region. According to the data, more than 1 million people in the United States are ATVs owners in 2020.

APAC ATV Market Analysis

The Asian Pacific all-terrain vehicle market is estimated to be the second largest, registering a share of about 24% by the end of 2037. The growth of the market can be attributed majorly to the of the largest seller of ATVs in the countries such as China, and Australia. Furthermore, the utility ATVs are used for various applications in the region such as agriculture, sports, and other activities, that is increasing their demand. Furthermore, the low manufacturing cost of the all-terrain vehicle in the region, is also surging their demand in the Asia Pacific region. Thus, all these reasons are expected to drive the market’s growth in the region.