Global ATV & UTV Market
ATV and UTV Market size is estimated at USD 10.11 Billion in 2024 and is projected to reach USD 20.82 Billion by the end of 2037, witnessing around 5.81% CAGR during the forecast period i.e., between 2025-2037. In the year 2025, the industry size of ATV and UTV is assessed at USD 10.57 Billion.
The main element to encourage the ATV and UTV market revenue is the growing demand for food. According to the Food and Agriculture Organization's predictions to feed the worldwide population of 9.1 billion people in 2050 the need to boost food production by some 70 percent between 2005/07 and 2050 has also increased. Hence, the need for fertilizers is also growing to encourage food production. As a result, the ATV and UTV market demand is also foreseen to rise in applying fertilizers.
Growth Drivers
Challenges
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Base Year |
2024 |
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Forecast Year |
2025-2037 |
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CAGR |
5.81% |
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Base Year Market Size (2024) |
USD 10.11 Billion |
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Forecast Year Market Size (2037) |
USD 20.82 Billion |
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Regional Scope |
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Fuel Type (Gasoline Powered, Petrol/Diesel Powered, Electric Drive, Solar Powered)
By 2037, gasoline powered segment in the ATV and UTV market is projected to reach USD 8.35 Billion. This is the highest as compared to revenue of USD 3.91 billion to be gathered in the year 2024. This growth of the segment is anticipated to be encouraged by the ability of gasoline-powered ATVs and UTVs to offer raw and high performance.
Moreover, construction is one of the major industries that prefer using gasoline-powered vehicles since this industry functions to haul heavy loads. Hence, with the growing construction activities the segment is expanding. Across the globe, there were close to 794,431 BUAs (built-up areas) in 2016. This number by 2022 is estimated to grow to over 849,406 residents. Additionally, close to 2 million buildings are foreseen to be built by 2050.
Power Output (Less Than 50kW, 50kW to 100kW, Above 100kW)
50kW to 100kW segment in the ATV and UTV market is expected to grow at CAGR of more than 5.95%% through 2037. Electric motors with power output between 50 kW and 100 kW are considered to be powerful, and additionally, they also provide swift acceleration and impressive top speeds. These motors are deployed in mid-sized vehicles that are which usually function in a wide range of applications including on-farm uses, towing, and recreational activities.
Therefore, this is boosting the market growth of these vehicles. Furthermore, the rising investment in electric vehicle is also influencing the segment’s growth. For instance, the UK government has offered USD 96.26 million in funds to 20 cutting-edge net zero tech projects, such as a novel lithium scale-up plant and new EV battery systems.
Application (Utility, Sports)
The utility segment in ATV and UTV market is expected to have a notable rise in its revenue through 2036. The importance of ATV and UTV is the growing number of industrial activities including oil exploration, military operations, pipeline maintenance, and more owing to its effectiveness in operating harsh environments.
Our in-depth analysis of the global ATV and UTV market includes the following segments:
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Vehicle Type |
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Fuel Type |
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Power Output |
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Displacement |
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Application |
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End-User |
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North American Market Statistics
North America ATV and UTV market size is predicted to exceed USD 6.68 Billion by 2037, up from a revenue of USD 3.13 billion generated in the year 2024. This growth of the market can be encouraged by the rising number of people participating in outdoor activities.
In 2022, close to 81% of Americans are estimated to participate in outdoor activities including camping, boating, or visiting a state or national park. This projects a rise from about 59% in 2020 and approximately 78% in 2021. Moreover, the rising disposable income is also predicted to have a notable impact on the rise in the adoption of outdoor activities.
The US market for ATV and UTV market is projected to have significant growth in revenue over the forecast period due to the growing production of ATV and UTV.
The ATV and UTV market in Canada will have a notable rise in the market between 2025-2037. This could be on account of rising digitalization which is further encouraging the adoption of cloud and IoT.
European Market Analysis
The Europe ATV and UTV market is expected to have significant growth in the market by 2036. This growth is poised to be encouraged by growing investment to digitalize the agriculture sector. For instance as per the European Commission, with the implementation of Horizon 2020, over USD 216.55 million was allocated for Research and Innovation (RandI) to develop digital technologies for the agricultural industry.
The Germany market for ATV and UTV is set to gather the highest revenue of USD 0.11891 billion by the end of 2037 as compared to other nations in this region on account of the growing popularity of quad bikes.
The ATV and UTV market in the United Kingdom is also evaluated to have significant growth in the market over the years to come. The major element to influence the market expansion in this area is the rising presence of key players.
The Italy market for ATV and UTV is also expected to rise between 2024 and 2036 due to the increasing tourist population.
The ATV and UTV market is foreseen to be dominated by the key players who are significantly launching various initiatives to promote their products. Some of these key players include:
Author Credits: Saima Khursheed
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