All-Terrain Vehicle

Sales Outlook Of All-Terrain Vehicles Is Expected To Touch US$ 4.2 Billion By 2031


Fact.MR’s report on the all-terrain vehicles market expects a moderate expansion trajectory, expanding at over 3% CAGR to surpass US$ 4 Bn by the end of the 2021-2031 forecast period. Increasing demand for off-road vehicles across various industries is spurring demand in recent years.

Historical performance reveals that sales of all-terrain vehicles expanded at over 2% CAGR between 2016 and 2020, closing in at US$ 3 Bn by the end of the aforementioned period. The outbreak of COVID-19 have stalled prospects, as production crunches experienced during the lockdowns significantly hindered automotive production. Prospects improved in the second half of 2020, however, prospects are expected to remain moderate.

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Key Segments Covered

  • Drive type

    • 2WD in All-Terrain Vehicles
    • 4WD in All-Terrain Vehicles
    • AWD in All-Terrain Vehicles
  • Fuel Type

    • Gasoline-powered All-Terrain Vehicles
      • Below 400 cc
      • 400 – 800 cc
      • More than 800 cc
    • Electric-powered All-Terrain Vehicles
  • Seating Capacity

    • One Seat All-Terrain Vehicles
    • Two Seat All-Terrain Vehicles
  • Application

    • Sports All-Terrain Vehicles
    • Entertainment All-Terrain Vehicles
    • Agriculture All-Terrain Vehicles
    • Military & Defence All-Terrain Vehicles
    • Other (Hunting & Forestry, etc.) All-Terrain Vehicles
  • Age Group

    • All-Terrain Vehicles for Youth
    • All-Terrain Vehicles for Adults
  • Number of Wheels

    • Four Wheeled All-Terrain Vehicles
    • > Four Wheeled All-Terrain Vehicles

Competitive Landscape

Prominent players are embracing innovative approaches such as ground-breaking marketing tactics, technological advancements, mergers, and acquisitions.

  • In Sept 2018, Powersports manufacturer Polaris Industries Inc. and WSI Industries Inc. jointly announced a merger agreement in cash for a total enterprise value of approximately US$23.9 Mn. The merger is expected to close in the Q4 of 2018.
  • In June 2021, Honda becomes the first of Japan’s automakers to state publicly it will phase out sales of gasoline-powered cars completely, setting 2040 as the goal. The company plans to unveil 3 new electric two-wheelers by 2024, as well as 10 new EV cars in China within 5 years.

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