Dublin, Aug. 16, 2023 (GLOBE NEWSWIRE) -- The "All-Terrain Vehicle (ATV) and Utility Task Vehicle (UTV) Global Market Report 2023" report has been added to ResearchAndMarkets.com's offering.
This comprehensive report provides valuable insights into the global ATV and UTV market, including market size, growth trends, regional analysis, and key developments.
Market Overview: The All-Terrain Vehicle (ATV) and Utility Task Vehicle (UTV) market encompasses vehicles used for both work and recreational activities, such as off-roading. ATVs are motorized off-road vehicles with steering handlebars, running on four low-pressure or non-pneumatic tires. UTVs, on the other hand, are off-road vehicles equipped with an internal-combustion motor engine of 1,200 cubic centimeters or less, weighing between 1,200 and 2,600 pounds.
Key Drivers and Trends: The global ATV and UTV market is expected to grow from $8.78 billion in 2022 to $9.61 billion in 2023 at a compound annual growth rate (CAGR) of 9.4%. The market is projected to reach $13.29 billion in 2027 at a CAGR of 8.4%. Technological advancements in vehicle development are a key trend in the market. Major players are introducing advanced vehicles to gain a competitive edge. For instance, Yamaha Motor Corp launched its 2023 Proven Off-Road ATV/UTV and Side-by-Side Lineup, featuring unique features designed to handle various terrains, providing a direct-connection experience in a SxS. Additionally, The Toro Company acquired Intimidator Group, enhancing its position in the zero-turn mower sector with the addition of Spartan Mowers.
Regional Analysis: Asia-Pacific was the largest region in the ATV and UTV market in 2022. The report covers key regions such as Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.
Key Players: Major players in the ATV and UTV market include Bombardier Recreational Products (BRP) Inc., CFMoto, Deere Company, Hisun Motors Corporation, Yamaha Motor Co Ltd., Kawasaki Heavy Industries Ltd., Kwang Yang Motor Co. Ltd., Kubota Corporation, Polaris Industries Inc., Suzuki Motor Corporation, Textron Inc., Bobcat Company, Taiwan Golden Bee Co. Ltd. (TGB), TaoTao Vehicles Company Ltd., Nikola Motor Company, and Arctic Cat.
Reasons to Purchase:
- Gain a comprehensive understanding of the ATV and UTV market with in-depth analysis of the current and future scenarios.
- Identify growth segments and investment opportunities.
- Stay ahead of the competition with forecast data and analysis.
- Benchmark performance against key competitors.
Key Questions Answered:
- Where is the largest and fastest-growing market for all-terrain vehicles (ATV) and utility task vehicles (UTV)?
- How does the market relate to the overall economy, demography, and other similar markets?
- What forces will shape the market going forward?
The report covers:
- Market characteristics, size, and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends, and strategies.
- Impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russia-Ukraine war on the Eastern European region and its subsequent effect on global markets.
- Impact of higher global inflation and its effect on market growth.
- Continued but declining impact of COVID-19 on supply chains and consumption patterns.
- Growth trajectory of COVID-19 for all regions, key developed countries, and major emerging markets.
- Description of the competitive nature of the market, market shares, and leading companies.
- Key financial deals that have shaped the market in recent years.
- Emerging trends and strategies for companies to grow as the market recovers.
Scope:
Markets Covered:
- By Type: All-Terrain Vehicle (ATV); Utility Task Vehicle (UTV)
- By Displacement: Less than 400CC; 400CC-800CC; More than 800CC
- By Fuel Types: Gasoline; Diesel; Electric; Solar
- By End User: Recreational; Sports; Agriculture and Utility; Military and Defence; Other End-Users
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 200 |
| Forecast Period | 2023 - 2027 |
| Estimated Market Value (USD) in 2023 | $9.61 billion |
| Forecasted Market Value (USD) by 2027 | $13.29 billion |
| Compound Annual Growth Rate | 8.4% |
| Regions Covered | Global |
For more information about this report visit https://www.researchandmarkets.com/r/jt7gy7
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