North America ATV & UTV Market Size
| Study Period | 2019 - 2029 |
| Market Size (2024) | USD 9.18 Billion |
| Market Size (2029) | USD 13.37 Billion |
| CAGR (2024 - 2029) | 7.80 % |
| Fastest Growing Market | North America |
| Largest Market | North America |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
North America ATV And UTV Market Analysis
The North America ATV And UTV Market size is estimated at USD 9.18 billion in 2024, and is expected to reach USD 13.37 billion by 2029, growing at a CAGR of 7.80% during the forecast period (2024-2029).
The market for adventure sports and recreational activities is on the rise, leading to an increased demand for ATVs and UTVs, particularly in military activities. Since these vehicles are not permitted to be used on highways and main roads, government authorities in various regions have increased their budgetary allocations to develop new off-road trails. This can be beneficial for recreational enthusiasts and boost adventure sports activities in the area. These factors are expected to support the market’s growth over the next five years.
Previously, all-terrain vehicles (ATVs) and utility task vehicles (UTVs) were primarily used for recreational purposes. However, these vehicles have now found their way into various industries, such as agriculture, hunting, patrolling, and gardening. Shortly, the United States is expected to lead the market for these vehicles, followed by Canada and Mexico. This is due to the government's initiatives, new laws related to ATVs and UTVs, and subsidies.
The popularity of ATVs is increasing rapidly in the region. This is due to the implementation of new testing guidelines and strict regulatory oversight, resulting in the incorporation of more safety features into new off-road vehicles.
North America ATV And UTV Market Trends
Sports Segment Witnessing Major Growth
- The increasing interest of people in sports and recreational activities has become a significant factor driving the growth of the market. Manufacturers are constantly working to develop various eco-friendly versions of these vehicles to address the growing concerns around carbon emissions. This is expected to further boost the market size of all-terrain vehicles.
- When manufacturing ATVs and UTVs for sporting activities, the primary criterion taken into consideration is their performance. These vehicles are designed to be lightweight to facilitate acceleration, have stiffer suspension settings for better handling, and have a low center of gravity for added stability.
- Vehicles belonging to this category are primarily deployed in a variety of high-octane racing events, including but not limited to dune racing in arid and desert-like conditions, cross-country racing that involves traversing through dense forests and wooded areas, hill climbing where drivers navigate steep and challenging terrains, and drag racing that demands high-speed acceleration and swift maneuvering.
- Earlier, ATVs for sports and racing featured two-stroke engines, as they offered better acceleration. However, this has changed in the current scenario, as the market has more offerings of four-stroke engines.
- Currently, a high number of professional racing championships and series are being conducted across North America. The Grand National Cross-Country Series, ATV National Motocross Championship, and Championship Mud Racing are a few such events where different kinds of ATVs and UTVs are used.
- The key companies operating in the market are also taking multiple initiatives to increase access to motorized recreational trails to supplement the penetration and capitalize on the opportunity.
- For instance, in August 2023, Yamaha Motor Corporation announced that Yamaha's Outdoor Access Initiative (OAI) surpassed USD 6 million in cumulative funding. This latest funding cycle showcases Yamaha OAI's mission to protect, improve, and expand access to public land for motorized and outdoor recreation. It is done through projects that build, protect, and restore access to more than 40,000 acres and 600 miles of trail for motorized recreation.
- In the second quarter of 2023, three major projects in Oregon received support from OAI. These projects are aimed at enhancing the riding experience in the Oregon Sand Dunes National Recreation Area, Tillamook State Forest, and the prospect of riding area in the Rogue-Siskiyou National Forest. These projects include informative wayfinding signage, construction of vital bridges and staging areas, and demonstration of OAI's commitment to improving recreational opportunities in Oregon for many years to come.
- The United States is expected to see a significant increase in the popularity of ATVs and UTVs over the next decade due to factors such as the growing number of off-road terrains, increased promotion of recreational activities by motorsports associations, and the rise of national rally championships. As a result, demand for ATVs and UTVs is likely to be influenced during the forecast period.
United States Expected to Dominate the Market
- The increasing recreational expenditure and the rising number of off-roading events are driving the growth of the ATV and UTV market in the United States. The growing preference of the youth toward adventure and off-road events and the availability of a wide range of products across varied prices are the factors that drive this growth.
- The US military uses more ATVs and UTVs for diversifying their applications. It includes transporting armed forces and ammunition across long distances. The need for vehicles to run in rough terrain provides an impetus to the growth of the ATV and UTV market.
- The growing establishment of dedicated all-terrain vehicle and utility terrain vehicle pathways within US parks is expected to stimulate heightened consumer interest. This expansion of recreational ATV and UTV infrastructure serves as a compelling market driver, as it not only addresses the accessibility issues but also encourages greater demand for these off-road vehicles. It presents substantial growth opportunities within the all-terrain vehicles and utility terrain vehicles market in the United States.
- Several local bodies in the country are taking initiatives to promote all-terrain vehicle and utility terrain vehicles for recreational and sporting purposes.
- In August 2023, Green Lake Area Chamber of Commerce Executive Director Lisa Meier, Wisconsin, United States, addressed the committee of the whole on the subject of approving all-terrain vehicle and utility terrain vehicle routes in the city of Green Lake.
- In July 2023, Ankeny City, Iowa, United States, granted permission for utility terrain vehicles to navigate its streets. This new regulatory framework introduces specific prerequisites and exemptions meticulously crafted to ensure operational safety. Due to this measure, the manufacturers in the country take advantage of it and explore their reach in the country.
North America ATV And UTV Industry Overview
The North American ATV and UTV market is dominated by several key players, including Polaris Industries Inc., American Honda Motor Co. Inc., BRP Inc., Arctic Cat, and Yamaha Motor Co. Ltd. Most companies are expanding their presence by backward integration. Market leaders emphasize launching new models of ATVs and UTVs with enhanced features to diversify their product portfolio.
- July 2023: RJWC Powersports, a leading manufacturer of high-performance ATV and UTV accessories, announced a new distribution partnership with Kimpex, a reputed distributor of aftermarket parts for ATV and UTV. This strategic collaboration will facilitate RJWC Powersport's expansion into the Canadian market.
- April 2023: Indian Manufacturer Powerland Tachyon developed a powerful new ATV for the US markets. The developed product contains an all-wheel drive using four in-wheel motors. They offer 50 HP of peak power and 210 Nm Output torque. The product price in the United States is estimated to be USD 15,000 before taxes.
- March 2023: Yamaha Motor Corp., United States, funded over USD 119,500 under the Yamaha BULU (Bureau of Labor Unions) cRU (BULU) program. Yamaha bULU cRU is offering USD 15,000 bonus funds for eligible and qualified racers in selected series and classes in the 2023 SxS (Swing Season) and 2023 ATV (All-Terrain Vehicle) racing seasons.
North America ATV And UTV Market Leaders
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American Honda Motor Co. Inc.
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Yamaha Motor Co. Ltd
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Arctic Cat Inc.
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Polaris Industries Inc.
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BRP Inc.
*Disclaimer: Major Players sorted in no particular order
North America ATV And UTV Market News
- August 2023: BRP Inc. extended Can-Am's side-by-side lineup by introducing four new models for the 2024 model year. The new models include the Maverick X rcTurbo RR, Commander MAX X mr1000R, Commander MAX XT 700, and four-seat versions. The Maverick X3 RS Turbo has been introduced as the most affordable mid-hp 72" side-by-side in the Maverick lineup.
- August 2023: Polaris Inc. debuted its latest invention during the 2023 Summer Polaris Dealer Meeting in Nashville, Tennessee. The Polaris RANGER XD 1500 is the industry's first utility side-by-side featuring a 1500 cc 3-cylinder engine for increased power and Punch Powertrain's cutting-edge CVT technology to make difficult work simpler and last longer.
- July 2023: Polaris Off-Road introduced enhancements for 2024 to the off-road industry's most expansive portfolio. It includes the groundbreaking Polaris XPEDITION and the all-new Extreme Duty RANGER XD 1500. The 2024 collection includes a slew of rider-inspired improvements, as well as new styles and colors.
- July 2023: Honda North Carolina Manufacturing (NCM) added a new Four Trax Rancher all-terrain vehicle (ATV) to its inventory. NCM will be the only North American production source for Honda ATVs and will manufacture Honda Four Trax and TRX series ATVs.
North America ATV & UTV Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Drivers
4.1.1 Rising Recreational and Motorsports Activities
4.2 Market Restraints
4.2.1 High Value and Maintenance Cost Offered
4.3 Industry Attractiveness - Porter's Five Forces Analysis
4.3.1 Bargaining Power of Suppliers
4.3.2 Bargaining Power of Buyers/Consumers
4.3.3 Threat of New Entrants
4.3.4 Threat of Substitute Products
4.3.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION (Market Size in Value (USD))
5.1 By Vehicle Type
5.1.1 Sport ATVs
5.1.2 Utility Terrain Vehicle (UTVs)
5.2 By Application
5.2.1 Sports
5.2.2 Agriculture
5.2.3 Other Applications
5.3 By Fuel Type
5.3.1 Gasoline Powered
5.3.2 Electric Powered
5.4 By Country
5.4.1 United States
5.4.2 Canada
5.4.3 Rest of the North America
6. COMPETITIVE LANDSCAPE
6.1 Vendor Market Share
6.2 Company Profiles*
6.2.1 American Honda Motor Co. Inc.
6.2.2 Yamaha Motor Co. Ltd
6.2.3 Arctic Cat Inc.
6.2.4 Kwang Yang Motor Co. Ltd
6.2.5 Polaris Industries Inc.
6.2.6 BRP Inc.
6.2.7 Suzuki Motor of America Inc.
6.2.8 Kawasaki Heavy Industries Ltd
6.2.9 DRR USA Inc.
6.2.10 Daymak Inc.
6.2.11 Kubota Corporation
6.2.12 Deere and Company
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
8. ATV and UTV Brands Specification By Selected Brands**
North America ATV And UTV Industry Segmentation
ATVs (all-terrain vehicles) are primarily used for recreational activities. They are designed for a single rider. UTVs (utility task vehicles) include side-by-side car-like control, along with steering wheels. UTVs are used to transport small freight loads on off-roads.
The North American ATV and UTV market is segmented by vehicle type, application type, fuel type, and country. By vehicle type, the market is segmented into sport ATVs and utility terrain vehicles (UTVs). By application type, the market is segmented into sports, agriculture, and other applications. By fuel type, the market is segmented into gasoline-powered and electric-powered. By country, the market is segmented into the United States, Canada, and the Rest of North America. For each segment, the market sizing and forecast have been done based on the value (USD).
| By Vehicle Type | |
| Sport ATVs | |
| Utility Terrain Vehicle (UTVs) |
| By Application | |
| Sports | |
| Agriculture | |
| Other Applications |
| By Fuel Type | |
| Gasoline Powered | |
| Electric Powered |
| By Country | |
| United States | |
| Canada | |
| Rest of the North America |
North America ATV & UTV Market Research FAQs
How big is the North America ATV And UTV Market?
The North America ATV And UTV Market size is expected to reach USD 9.18 billion in 2024 and grow at a CAGR of 7.80% to reach USD 13.37 billion by 2029.
What is the current North America ATV And UTV Market size?
In 2024, the North America ATV And UTV Market size is expected to reach USD 9.18 billion.
Who are the key players in North America ATV And UTV Market?
American Honda Motor Co. Inc., Yamaha Motor Co. Ltd, Arctic Cat Inc., Polaris Industries Inc. and BRP Inc. are the major companies operating in the North America ATV And UTV Market.
Which is the fastest growing region in North America ATV And UTV Market?
North America is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in North America ATV And UTV Market?
In 2024, the North America accounts for the largest market share in North America ATV And UTV Market.
What years does this North America ATV And UTV Market cover, and what was the market size in 2023?
In 2023, the North America ATV And UTV Market size was estimated at USD 8.46 billion. The report covers the North America ATV And UTV Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the North America ATV And UTV Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
What are the challenges faced by the North America ATV and UTV Market?
Major challenges faced by the All-Terrain Vehicle (ATV) & Utility Terrain Vehicles (UTV) Market in North America are a) Stringent environmental regulations b) High maintenance costs c) Safety concerns associated with these vehicles
North America ATV & UTV Industry Report
The North America ATV and UTV industry is witnessing substantial growth, fueled by heightened interest in off-road recreational activities and the expanding use of these vehicles in sectors like agriculture and construction. Utility Terrain Vehicles (UTVs) are particularly popular due to their versatility, suitable for both leisure and commercial purposes. The trend towards electric powertrains is evident, with electric ATVs and UTVs becoming favored for their environmental benefits and reduced operational costs. Technological advancements, including GPS and connectivity, are improving vehicle functionality and safety, contributing to market growth. The U.S. remains a key player, bolstered by a strong outdoor culture and an increasing array of off-road trails. Despite the dominance of gasoline-powered models, electric variants are quickly catching up. According to Mordor Intelligence™ Industry Reports, the market is segmented and analyzed for future forecasts, historical data, and revenue growth rates. For a deeper insight into the North America ATV and UTV market, download a free report PDF sample from Mordor Intelligence™, providing comprehensive market analysis and forecasts.
