Automotive Exports September 2020

All-terrain vehicle & utility task vehicle
market worth $18.6 billion by 2026
The global ATV and UTV market
generated $9.2 billion in 2017 and
is anticipated to grow at a CAGR of
8.3% during the forecast period according
to a new report published by Polaris
Market Research.
All-terrain vehicles (ATV) are small, open,
and single-seated motor vehicles with
three or four tires. It has the ability to
operate on a wide variety of terrains such
as forests, mountains, snow, and other
rough terrains. These vehicles have deepthreaded
tires that enable the vehicles to
be driven on rocky, muddy, and root cover
terrains. Utility task vehicles are IC engines
or electric motors powered vehicles driven
through steering, and used in applications
such as farming, mining, and rescue.
The demand for ATV and UTV has increased
over the years owing to increasing tourism
activities. The increasing trend of sports
activities and adventure sports has
increased the demand for these vehicles.
The growing consumer disposable income
and improving living standards also fuel the
market growth. Other factors supporting
the market growth include technological
advancements, increasing applications
in defense and agriculture sectors, and
supportive government initiatives.
The report provides an extensive
qualitative and quantitative analysis of the
market trends and growth prospects of
the Global ATV and UTV Market, 2017-
2026. This report comprises a detailed
geographic distribution of the market
across North America, Europe, Asia-Pacific,
Latin America, and MEA. North America is
further segmented into U.S., Canada, and
Mexico. Europe is divided into Germany,
UK, Italy, France, and Rest of Europe.
Asia-Pacific is bifurcated into China, India,
Japan, and Rest of Asia-Pacific. North
America generated the highest revenue
in 2017 owing to increasing applications
in agriculture, defense, and mining
applications. The high disposable incomes,
and government initiatives to promote
sport activities have resulted in market
growth in the region.
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