ASIA-PACIFIC ATV AND UTV MARKET 2022-2028
MARKET OUTLOOK
Triton’s research report infers that the ATV and UTV market in the Asia-Pacific is estimated to grow at a CAGR of 7.91% over the forecast period 2022 to 2028. South Korea, Australia & New Zealand, Rest of APAC, China, India, ASEAN countries, and Japan outline the region’s market.
ATVs and UTVs are popular in the mountain regions and islands across South Korea. The growth in the power sports sector owing to changing consumer behavior is expected to amplify the demand for these quad bikes. Besides, the increasing operations undertaken by prominent market players are set to highlight the need for ATVs and UTVs. For instance, KIA Motors announced the manufacturing of combat vehicles, focusing primarily on ATV vehicles. Hence, such developments will position the ATV and UTV market in South Korea on a positive growth trajectory.
Further, ATV and UTV are adopted to promote off-road vehicles within India. This growth is because of the rise in adventure sports activities in the country. For example, new ATV circuits introduced in Noida provide an off-road experience to the people. The entry of global players also supports the market’s growth. For instance, the Chinese manufacturer CFMoto stated its plan to launch its products in the Indian market, encouraging other companies to manufacture ATVs and UTVs. Such initiatives are predicted to provide opportunities to the Indian ATV and UTV market.
COMPETITIVE OUTLOOK
The distinguished companies in the ATV and UTV market include Hisun, Kawasaki Heavy Industries, Polaris Industries Inc, BRP Inc, Kwang Yang Motor Co Ltd, and Yamaha Motor Co Ltd.
- 1. ASIA-PACIFIC ATV AND UTV MARKET - SUMMARY
- 2. INDUSTRY OUTLOOK
- 2.1. KEY INSIGHTS
- 1.1.1. GROWING USE OF ATVS ON UNEVEN ROADS
- 1.1.2. INCREASE IN ATV EXPERIENCE ZONES
- 1.1.3. GROWING PENETRATION OF CVTS IN ATVS
- 1.2. IMPACT OF COVID-19 ON ATV AND UTV MARKET
- 1.3. PORTER’S FIVE FORCES ANALYSIS
- 1.1.1. THREAT OF NEW ENTRANTS
- 1.1.2. THREAT OF SUBSTITUTES
- 1.1.3. BARGAINING POWER OF SUPPLIERS
- 1.1.4. BARGAINING POWER OF BUYERS
- 1.1.5. THREAT OF COMPETITIVE RIVALRY
- 1.2. KEY BUYING IMPACT ANALYSIS
- 1.1.1. GOVERNMENT REGULATIONS
- 1.1.2. PRICE
- 1.1.3. APPLICATION
- 1.2. MARKET ATTRACTIVENESS MATRIX
- 1.3. VENDOR SCORECARD
- 1.4. KEY MARKET STRATEGIES
- 1.1.1. CONTRACTS & PARTNERSHIPS
- 1.1.2. BUSINESS EXPANSIONS & DIVESTITURES
- 1.1.3. NEW PRODUCT LAUNCHES
- 1.2. MARKET DRIVERS
- 1.1.1. GROWING POPULARITY OF ADVENTURE SPORTS
- 1.1.2. INCREASING ATV AND UTV USE IN MILITARY
- 1.1.3. GOVERNMENT RULES SUPPORTING ATVS AND UTVS
- 1.2. MARKET CHALLENGES
- 1.1.1. DRIVING BAN IN WILDLIFE AREAS
- 1.1.2. HIGH MAINTENANCE COST
- 1.2. MARKET OPPORTUNITIES
- 1.1.1. PRODUCTION OF SAFER ATVS AND UTVS
- 2. ASIA-PACIFIC ATV AND UTV MARKET – BY VEHICLE TYPE
- 2.1. ATV
- 2.2. UTV
- 3. ASIA-PACIFIC ATV AND UTV MARKET - BY DISPLACEMENT
- 3.1. ≤ 400 (CC)
- 3.2. 400-800(CC)
- 3.3. ≥ 800 (CC)
- 4. ASIA-PACIFIC ATV AND UTV MARKET - BY FUEL TYPE
- 4.1. GASOLINE-POWERED
- 4.2. DIESEL-POWERED
- 4.3. ELECTRIC-POWERED
- 4.4. SOLAR-POWERED
- 5. ASIA-PACIFIC ATV AND UTV MARKET - BY END-USER
- 5.1. RECREATIONAL
- 5.2. SPORTS
- 5.3. AGRICULTURE & UTILITY
- 5.4. MILITARY & DEFENSE
- 5.5. OTHER END-USERS
- 6. ASIA-PACIFIC ATV AND UTV MARKET – REGIONAL OUTLOOK
- 6.1. ASIA-PACIFIC
- 1.1.1. CHINA
- 1.1.2. JAPAN
- 1.1.3. INDIA
- 1.1.4. SOUTH KOREA
- 1.1.5. ASEAN COUNTRIES
- 1.1.6. AUSTRALIA & NEW ZEALAND
- 1.1.7. REST OF ASIA-PACIFIC
- 2. COMPETITIVE LANDSCAPE
- 2.1. BRP INC
- 2.2. CFMOTO
- 2.3. DEERE AND COMPANY
- 2.4. HISUN
- 2.5. HONDA MOTOR COMPANY
- 2.6. KAWASAKI HEAVY INDUSTRIES
- 2.7. KUBOTA CORPORATION
- 2.8. KWANG YANG MOTOR CO LTD
- 2.9. POLARIS INDUSTRIES INC
- 2.10. SUZUKI MOTORS CORPORATION
- 2.11. TEXTRON INC
- 2.12. YAMAHA MOTOR CO LTD
- 3. METHODOLOGY & SCOPE
- 3.1. RESEARCH SCOPE & DELIVERABLES
- 3.2. SOURCES OF DATA
- 3.3. RESEARCH METHODOLOGY
- LIST OF TABLES
- TABLE 1: ASIA-PACIFIC ATV AND UTV MARKET, BY REGIONAL OUTLOOK, 2022-2028 (IN $ MILLION)
- TABLE 2: MARKET ATTRACTIVENESS MATRIX
- TABLE 3: VENDOR SCORECARD
- TABLE 4: LIST OF CONTRACTS & PARTNERSHIPS
- TABLE 5: LIST OF BUSINESS EXPANSIONS & DIVESTITURES
- TABLE 6: LIST OF NEW PRODUCT LAUNCHES
- TABLE 7: ASIA-PACIFIC ATV AND UTV MARKET, BY VEHICLE TYPE, 2022-2028 (IN $ MILLION)
- TABLE 8: ASIA-PACIFIC ATV AND UTV MARKET, BY DISPLACEMENT, 2022-2028 (IN $ MILLION)
- TABLE 9: ASIA-PACIFIC ATV AND UTV MARKET, BY FUEL TYPE, 2022-2028 (IN $ MILLION)
- TABLE 10: ASIA-PACIFIC ATV AND UTV MARKET, BY END-USER, 2022-2028 (IN $ MILLION)
- TABLE 11: ASIA-PACIFIC ATV AND UTV MARKET, BY COUNTRY OUTLOOK, 2022-2028 (IN $ MILLION)
- LIST OF FIGURES
- FIGURE 1: PORTER’S FIVE FORCES ANALYSIS
- FIGURE 2: KEY BUYING IMPACT ANALYSIS
- FIGURE 3: ASIA-PACIFIC ATV AND UTV MARKET, BY VEHICLE TYPE, 2021 & 2028 (IN %)
- FIGURE 4: ASIA-PACIFIC ATV AND UTV MARKET, BY ATV, 2022-2028 (IN $ MILLION)
- FIGURE 5: ASIA-PACIFIC ATV AND UTV MARKET, BY UTV, 2022-2028 (IN $ MILLION)
- FIGURE 6: ASIA-PACIFIC ATV AND UTV MARKET, BY DISPLACEMENT, 2021 & 2028 (IN %)
- FIGURE 7: ASIA-PACIFIC ATV AND UTV MARKET, BY ≤ 400 (CC), 2022-2028 (IN $ MILLION)
- FIGURE 8: ASIA-PACIFIC ATV AND UTV MARKET, BY 400-800(CC), 2022-2028 (IN $ MILLION)
- FIGURE 9: ASIA-PACIFIC ATV AND UTV MARKET, BY ≥ 800 (CC), 2022-2028 (IN $ MILLION)
- FIGURE 10: ASIA-PACIFIC ATV AND UTV MARKET, BY FUEL TYPE, 2021 & 2028 (IN %)
- FIGURE 11: ASIA-PACIFIC ATV AND UTV MARKET, BY GASOLINE-POWERED, 2022-2028 (IN $ MILLION)
- FIGURE 12: ASIA-PACIFIC ATV AND UTV MARKET, BY DIESEL-POWERED, 2022-2028 (IN $ MILLION)
- FIGURE 13: ASIA-PACIFIC ATV AND UTV MARKET, BY ELECTRIC-POWERED, 2022-2028 (IN $ MILLION)
- FIGURE 14: ASIA-PACIFIC ATV AND UTV MARKET, BY SOLAR-POWERED, 2022-2028 (IN $ MILLION)
- FIGURE 15: ASIA-PACIFIC ATV AND UTV MARKET, BY END-USER, 2021 & 2028 (IN %)
- FIGURE 16: ASIA-PACIFIC ATV AND UTV MARKET, BY RECREATIONAL, 2022-2028 (IN $ MILLION)
- FIGURE 17: ASIA-PACIFIC ATV AND UTV MARKET, BY SPORTS, 2022-2028 (IN $ MILLION)
- FIGURE 18: ASIA-PACIFIC ATV AND UTV MARKET, BY AGRICULTURE & UTILITY, 2022-2028 (IN $ MILLION)
- FIGURE 19: ASIA-PACIFIC ATV AND UTV MARKET, BY MILITARY & DEFENSE, 2022-2028 (IN $ MILLION)
- FIGURE 20: ASIA-PACIFIC ATV AND UTV MARKET, BY OTHER END-USERS, 2022-2028 (IN $ MILLION)
- FIGURE 21: CHINA ATV AND UTV MARKET 2022-2028 (IN $ MILLION)
- FIGURE 22: JAPAN ATV AND UTV MARKET 2022-2028 (IN $ MILLION)
- FIGURE 23: INDIA ATV AND UTV MARKET 2022-2028 (IN $ MILLION)
- FIGURE 24: SOUTH KOREA ATV AND UTV MARKET 2022-2028 (IN $ MILLION)
- FIGURE 25: ASEAN COUNTRIES ATV AND UTV MARKET 2022-2028 (IN $ MILLION)
- FIGURE 26: AUSTRALIA & NEW ZEALAND ATV AND UTV MARKET 2022-2028 (IN $ MILLION)
- FIGURE 27: REST OF ASIA-PACIFIC ATV AND UTV MARKET 2022-2028 (IN $ MILLION)
Research Assistance
Learn how to effectively navigate the market research process to help guide your organization on the journey to success.
Download eBook