Dublin, Sept. 28, 2020 (GLOBE NEWSWIRE) -- The "Electric All-Terrain Vehicle (ATV) and Utility-Terrain Vehicle (UTV) Market - A Global and Regional Analysis: Focus on Products, Applications, Trends, and Competition - Analysis and Forecast, 2019-2030" report has been added to ResearchAndMarkets.com's offering.
The Electric Vehicle Revolution Set to Create an Annual $4.30 Billion Revenue Opportunity for ATV and UTV Manufacturers Globally by 2030
The global electric ATV and UTV market is mainly attributed to the increased demand for efficient vehicles, such as battery electric vehicles (BEVs) and hybrid electric vehicles (HEVs), across the globe. Additionally, the implementation of certain regulations on both producers and consumers to control the emissions from conventional vehicles, which are hazardous to the environment, is also boosting the electric ATV and UTV market.
According to the American National Standards Institute, an ATV is a vehicle that runs on low-pressure tires, with operator straddled seats and steering wheel handlebars. As the name suggests, it is designed to climb a broader range of terrain than most of the other vehicles available commercially. There are mainly two types of ATV offered by OEMs: sports ATVs and utility ATVs. Utility-terrain vehicles (UTVs) are very similar to ATVs, as they have the same drivetrain and engines and are used for riding on rough terrains. UTVs also come in three types: sports UTVs, utility UTVs, and sports-utility UTVs.
Various ATV and UTV manufacturers are developing EV variants of their vehicle models. The increasing application areas for electric ATVs and UTVs are also led by an increase in EV safety regulations, the increased demand in better driving experience, and the low cost of maintenance for EVs. Moreover, huge investments in the form of subsidies and infrastructure development by governments and federal agencies to promote EVs to cut down carbon dioxide emissions are further propelling the growth of electric ATV and UTV sales.
The major factors hindering the market growth are high retail price of electric ATVs and UTVs as compared to internal combustion engine ATVs and UTVs, range anxiety, and impact of high battery weight on electric vehicle performance.
The global electric ATV and UTV market accounted for $468.9 million in 2019 and is expected to reach $4.30 billion by 2030. The market is anticipated to grow at a CAGR of 23.37% during the forecast period 2020 to 2030. The market growth is mainly attributed to the rising number of government policies for electric vehicles, better availability of charging infrastructure, and increasing need to minimize the level of carbon dioxide emissions. In addition, electric ATVs and UTVs have a low cost of ownership and low noise emissions, which are expected to drive the market growth during the forecast period.
Key Questions Answered in this Report:
- What are the key drivers and challenges in the global electric ATV and UTV market?
- How does the supply chain function in the global electric ATV and UTV market?
- Which electric ATV and UTV type segment is estimated to witness the maximum demand growth in the global electric ATV and UTV market during 2020-2030?
- Which are the key application areas for which different electric ATV and UTV types may experience high demand during the forecast period, 2020-2030?
- Which are the key manufacturers of different electric ATV and UTV?
- What are the business and corporate strategies of electric ATV and UTV manufacturers involved in the global electric ATV and UTV market?
- What are the key offerings of the prominent manufacturers in the global electric ATV and UTV market?
- Which regions are leading in terms of consumption of electric ATV and UTV, and which of them are expected to witness high demand growth from 2020 to 2030?
- What are the key consumer attributes in various regions for electric ATV and UTV?
- How is the market landscape for electric ATV and UTV manufacturers expected to be formed for EVs?
Key Topics Covered:
1 Markets
1.1 Industry Outlook
1.1.1 Trends and Factors Impacting the Global All-Terrain Vehicle (ATV) and Utility-Terrain Vehicle (UTV) Market
1.1.2 Trends: Industry Dynamics Defining the Future Trends of Electric All-Terrain Vehicle (ATV) and Utility-Terrain Vehicle (UTV) Market
1.1.3 Electric All-Terrain Vehicle (ATV) and Utility-Terrain Vehicle (UTV): Timeline
1.1.4 Supply Chain Network/MAP
1.1.4.1 Manufacturers
1.1.4.2 Distributors
1.1.4.3 Tier 1 Suppliers
1.1.5 Industry Attractiveness (Porter's Five Forces Analysis)
1.1.6 Ecosystem/Ongoing Programs
1.1.6.1 Consortiums, Associations, and Regulatory Bodies
1.1.6.2 Government Programs
1.2 Business Dynamics
1.2.1 Business Drivers
1.2.1.1 Low Cost of Ownership of Electric ATVs and UTVs
1.2.1.2 Low Noise Emissions from Electric ATVs and UTVs Improve their Applicability
1.2.1.3 Increasing Global Awareness to Reduce Greenhouse Gas Emissions
1.2.2 Business Challenges
1.2.2.1 Higher Retail Prices than Comparable Internal Combustion Engine ATVs and UTVs
1.2.2.2 Range Anxiety
1.2.2.3 Impact of High Battery Weight on Vehicle Performance
1.2.3 Business Strategies
1.2.3.1 Product Developments
1.2.3.2 Market Developments
1.2.4 Corporate Strategies
1.2.4.1 Mergers and Acquisitions
1.2.4.2 Partnerships, Joint Ventures, Collaborations and Alliances
1.2.5 Business Opportunities
1.2.5.1 Development of Amphibious Terrain Vehicles
1.2.5.2 Development of Autonomous ATVs and UTVs
1.2.5.3 Capitalizing on the Micro mobility Trend
1.3 Start-Up Landscape
1.3.1 Key Start-Ups in the Ecosystem
1.3.2 Top Innovations
2 Application
2.1 Global All-Terrain Vehicle (ATV) and Utility-Terrain Vehicle (UTV) Market (by Application), $Million and Units
2.1.1 Professional Sports
2.1.2 Recreational
2.1.3 Agriculture and Utility
2.1.4 Military and Defense
2.1.5 Others
2.2 Electric All-Terrain Vehicle (ATV) and Utility-Terrain Vehicle (UTV) - Applications and Specifications
2.2.1 Professional Sports
2.2.2 Recreational
2.2.3 Agriculture
2.2.4 Military and Defense
2.2.5 Others
2.3 Global Electric All-Terrain Vehicle (ATV) and Utility-Terrain Vehicle (UTV) Market- Demand Analysis (by Application)
2.3.1 Demand Analysis (by Application), $Million and Units
2.3.1.1 Professional Sports
2.3.1.2 Recreation
2.3.1.3 Agriculture and Utility
2.3.1.4 Military and Defense
2.3.1.5 Others
2.4 Analyst's PoV and Recommendation
3 Products
3.1 Global All-Terrain Vehicle (ATV) and Utility-Terrain Vehicle (UTV) Market (by Product), $Billion and Units
3.1.1 All-Terrain Vehicle (ATV)
3.1.2 Utility-Terrain Vehicles (UTV)
3.2 Global Electric All-Terrain Vehicle (ATV) and Utility-Terrain Vehicle (UTV) Market - Products and Specifications
3.2.1 Battery Electric ATVs and UTVs
3.2.2 Hybrid Electric ATVs and UTVs
3.3 Global Electric All-Terrain Vehicle (ATV) and Utility-Terrain Vehicle (UTV) Market - Demand Analysis (by Product)
3.3.1 Demand Analysis (by Drivetrain Type), $Million and Units
3.3.1.1 Two-Wheel Drive (2WD)
3.3.1.2 Four-Wheel Drive (4WD)
3.3.1.3 All-Wheel Drive (AWD)
3.3.2 Demand Analysis (by Engine Size), $Thousand and Units
3.3.2.1 &lessThan;400 CC
3.3.2.2 400 to 800 CC
3.3.2.3 >800 CC
3.3.3 Demand Analysis (by Battery Capacity), $Million and Thousand Units
3.3.3.1 Upto 48V
3.3.3.2 48V to 72V
3.3.3.3 More than 72V
3.3.4 Demand Analysis (by Propulsion Type), $Million and Thousand Units
3.3.4.1 Battery Electric ATVs and UTVs
3.3.4.2 Hybrid Electric ATVs and UTVs
3.3.5 Demand Analysis (by Number of Wheels), $Million and Units
3.3.5.1 Four-Wheeled ATVs and UTVs
3.3.5.2 More than Four-Wheeled ATVs and UTVs
3.3.6 Demand Analysis (by Seating Capacity), $Million and Thousand Units
3.3.6.1 One-Seater ATVs and UTVs
3.3.6.2 Two-Seater ATVs and UTVs
3.3.6.3 More than Two-Seater ATVs and UTVs
3.4 Product Benchmarking: Growth Rate - Market Share Matrix
3.4.1 Opportunity Matrix, by Region
3.4.2 Opportunity Matrix, by Application
3.5 Patent Analysis
3.6 Global Pricing Analysis
3.7 Technology Roadmap
3.8 Comparative Analysis of All-Terrain Vehicles (ATVs) and Utility-Terrain Vehicles (UTVs): Electric vs. Internal Combustion Engine
3.9 Analyst's PoV and Recommendation
4 Region
5 Markets - Competitive Benchmarking & Company Profiles
- American LandMaster
- Arctic Cat
- Bombardier Recreational Products
- CECTEK
- CFmoto
- Club Car, LLC
- DRR USA
- HiSun Motors
- Honda Motor Co Ltd
- John Deere
- Linhai
- Nikola Corporation
- Polaris Industries Inc
- Segway Technology Co., Ltd
- Tesla
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