U.S. ATV and UTV Market by Type (ATV and UTV), by Displacement (Below 400 cc, 400–800 cc, and above 800 cc), by Fuel Type (Gasoline Powered, Diesel Powered, and Electric Powered), and by Application (Military, Agriculture, Recreation, and Other Applicatio

U.S. ATV and UTV Market by Type (ATV and UTV), by Displacement (Below 400 cc, 400–800 cc, and above 800 cc), by Fuel Type (Gasoline Powered, Diesel Powered, and Electric Powered), and by Application (Military, Agriculture, Recreation, and Other Applications) – Opportunity Analysis and Industry Forecast, 2024–2030

U.S. ATV and UTV Market was valued at USD 4.54 billion in 2023, and is predicted to reach USD 5.75 billion by 2030, with a CAGR of 2.7% from 2024 to 2030.

The market for ATV and UTV is experiencing growth due to the increasing efforts of manufacturers to introduce electric vehicles, thereby enhancing the overall market expansion. For instance, in December 2021, Polaris launched RANGER XP Kinetic, an exceptional UTV known for its superior work capabilities and smooth riding experience. This innovative vehicle incorporates a brand-new electric powertrain from Polaris in collaboration with Zero Motorcycles. With its cutting-edge technology, the RANGER XP Kinetic sets a new benchmark for UTV performance and productivity, offering unmatched capability, remarkable durability, and refined overall performance.

However, in specific areas, the opportunity to utilize off-road spaces for recreation or practical applications might face restrictions due to factors like environmental regulations, land-use policies, or private property constraints. These limitations have the potential to impede the broad usage and enjoyment of ATVs and UTVs, especially among individuals engaging in recreational riding pursuits.

Moreover, the off-road characteristics of ATVs and UTVs inherently introduce risks and safety considerations. Accidents involving inexperienced or negligent riders can result in injuries or even fatalities. To address these risks, it is essential to establish safety regulations, mandate training prerequisites, and ensure the implementation of responsible riding practices. These measures are crucial for minimizing the potential hazards associated with these vehicles. Thus, limited off-road access and safety concerns restrain the market's growth in the region.

On the other hand, ATVs and UTVs serve as vehicles for camping and exploring nature but also have inherent risks. The availability of more of these vehicles on the market contributes to the higher frequency of ATV and UTV accidents. The primary cause of most vehicle accidents is the failure of drivers to behave safely and responsibly. Hence, market players are introducing ATVs and UTVs with advanced GPS features to enhance safety and security.

Therefore, the ATV is equipped with user-friendly GPS and vehicle data tracking equipment. Consequently, developing ATVs and UTVs with enhanced safety features to prevent accidents and fatalities presents a lucrative business opportunity for major ATV and UTV market players.

Segment Overview
The U.S. ATV and UTV market industry is segmented on the basis of type, displacement, fuel type, and application.
• By type, the market is classified into ATV and UTV.
• By displacement, the market is segmented into Below 400 cc, 400–800 cc, above 800 cc.
• By fuel type, the market is categorized into gasoline powered, diesel powered, electric powered.
• By application, the market is divided into military, agriculture, recreation, and other applications.

Key Market Players
The key players in the U.S. ATV and UTV market research include companies such as:
• Polaris, Inc
• BRP, Inc.
• Honda Motor Co., Inc.
• Kawasaki Heavy Industries Ltd.
• Yamaha Motor Co. Ltd.
• Textron, Inc.
• CF Moto
• Suzuki Motor Corporation
• KYMCO Group
• Kubota Corporation

KEY BENEFITS
• The U.S. ATV and UTV market report provides a quantitative analysis of the current market and estimations from 2024 to 2030. This analysis assists in identifying the prevailing market opportunities.
• The study comprises a comprehensive analysis of the market trends, including current and future trends for depicting prevalent investment pockets in the market.
• The information related to key drivers, restraints, and opportunities and their impact on the U.S. ATV and UTV market is provided in the report.
• The competitive analysis of the market players along with their market share in the U.S. ATV and UTV market is provided in the report.
• The SWOT analysis and Porter’s Five Forces model are elaborated in the study.
• The value chain analysis in the market study provides a clear picture of the role of stakeholders.