Based on Triton’s research report, the global electric ATV and UTV market is estimated to advance with a CAGR of 12.05% during the forecast period 2024-2032.
The electric ATV and UTV market’s growth is prompted by varied factors, including lower noise emissions and growing environmental concerns. In recent years, several governments have invested significantly in subsidies and infrastructural development to promote the adoption of electric vehicles to reduce emissions. This has significantly fuelled the sales of these electric quad bikes.
On the contrary, concerns associated with vehicle range and battery weight, along with high purchase cost, hampers the overall development of the studied market across the globe.
REGIONAL OUTLOOK
The global electric ATV and UTV market covers Latin America, Europe, North America, Asia-Pacific, and the Middle East and Africa regions.
Asia-Pacific is expected to witness fast growth over the forecasting period. Encompassing Japan, South Korea, Australia, New Zealand, India, ASEAN countries, and the Rest-of-Asia-Pacific, this regional market is poised for expansion. The upsurge in demand for electric ATVs and UTVs in this region is chiefly propelled by the escalating engagement in recreational pursuits, the growing appeal of power sports, and the ascending recognition of these vehicles for agricultural purposes.
Competitive Outlook
The notable companies in the electric ATV and UTV market are Deere and Company, BRP Inc, CFMoto, Honda Motor Company Ltd, Polaris Inc, Textron Inc (Artic Cat), Yamaha Motor Co Ltd, Hisun Motors Corporation USA, Suzuki Motors Corporation, and Kawasaki Heavy Industries Ltd.
Established in 1954, Polaris Inc, based in Minnesota, US, is a key player in the production and design of power sports vehicles. These encompass a diverse range, from off-road vehicles like ATVs to utility vehicles such as snowmobiles, motorcycles, and neighborhood electric vehicles. With a presence in over 100 countries, Polaris serves millions of customers through a comprehensive portfolio of over 30 brands.
1. Global Electric Atv And Utv Market – Summary
2. Industry Outlook
2.1. Impact Of Covid-19 On The Electric Atv And Utv Market
2.2. Porter’s Five Forces Analysis
2.2.1. Threat Of New Entrants
2.2.2. Threat Of Substitutes
2.2.3. Bargaining Power Of Suppliers
2.2.4. Bargaining Power Of Buyers
2.2.5. Threat Of Competitive Rivalry
2.3. Key Buying Impact Analysis
2.4. Key Market Strategies
2.4.1. Contracts And Partnerships
2.4.2. Business Expansion And Divestiture
2.4.3. New Product Launches
2.4.4. Acquisition
2.5. Market Drivers
2.5.1. Lower Noise Emissions From Electric Atvs And Utvs
2.5.2. Growing Environmental Concerns Expected To Fuel Electric Variants Demand
2.6. Market Challenges
2.6.1. Vehicle Range And Battery Weight Concern
2.6.2. High Purchase Cost
2.7. Analyst Perspective
3. Global Electric Atv And Utv Market – By Vehicle Type
3.1. Atv
3.2. Utv
4. Global Electric Atv And Utv Market - By Displacement
4.1. ≤ 400 (Cc)
4.2. 400-800(Cc)
4.3. ≥ 800 (Cc)
5. Global Electric Atv And Utv Market - By Propulsion
5.1. Battery Electric
5.2. Hybrid
6. Global Electric Atv And Utv Market - By Battery Capacity
6.1. Up To 48v
6.2. 48v To 72v
6.3. Above 72v
7. Global Electric Atv And Utv Market - By End-user
7.1. Recreational
7.2. Sports
7.3. Agriculture & Utility
7.4. Military & Defense
7.5. Other End-users
8. Global Electric Atv And Utv Market – By Regional Outlook
8.1. North America
8.1.1. Market By Vehicle Type
8.1.2. Market By Displacement
8.1.3. Market By Propulsion
8.1.4. Market By Battery Capacity
8.1.5. Market By End-user
8.1.6. Country Analysis
8.1.6.1. United States
8.1.6.2. Canada
8.2. Europe
8.2.1. Market By Vehicle Type
8.2.2. Market By Displacement
8.2.3. Market By Propulsion
8.2.4. Market By Battery Capacity
8.2.5. Market By End-user
8.2.6. Country Analysis
8.2.6.1. United Kingdom
8.2.6.2. Germany
8.2.6.3. France
8.2.6.4. Spain
8.2.6.5. Italy
8.2.6.6. Poland
8.2.6.7. Rest Of Europe
8.3. Asia-pacific
8.3.1. Market By Vehicle Type
8.3.2. Market By Displacement
8.3.3. Market By Propulsion
8.3.4. Market By Battery Capacity
8.3.5. Market By End-user
8.3.6. Country Analysis
8.3.6.1. China
8.3.6.2. Japan
8.3.6.3. India
8.3.6.4. South Korea
8.3.6.5. Asean Countries
8.3.6.6. Australia & New Zealand
8.3.6.7. Rest Of Asia-pacific
8.4. Latin America
8.4.1. Market By Vehicle Type
8.4.2. Market By Displacement
8.4.3. Market By Propulsion
8.4.4. Market By Battery Capacity
8.4.5. Market By End-user
8.4.6. Country Analysis
8.4.6.1. Brazil
8.4.6.2. Mexico
8.4.6.3. Rest Of Latin America
8.5. Middle East And Africa
8.5.1. Market By Vehicle Type
8.5.2. Market By Displacement
8.5.3. Market By Propulsion
8.5.4. Market By Battery Capacity
8.5.5. Market By End-user
8.5.6. Country Analysis
8.5.6.1. United Arab Emirates
8.5.6.2. Turkey
8.5.6.3. Saudi Arabia
8.5.6.4. South Africa
8.5.6.5. Rest Of Middle East & Africa
9. Competitive Landscape
9.1. Brp Inc
9.1.1. Overview
9.1.2. Product Portfolio
9.1.3. Strengths
9.1.4. Challenge
9.2. Cfmoto
9.2.1. Overview
9.2.2. Product Portfolio
9.2.3. Strengths
9.2.4. Challenge
9.3. Deere And Company
9.3.1. Overview
9.3.2. Product Portfolio
9.3.3. Strengths
9.3.4. Challenge
9.4. Hisun Motors Corporation Usa
9.4.1. Overview
9.4.2. Product Portfolio
9.4.3. Strengths
9.4.4. Challenge
9.5. Honda Motor Company Ltd
9.5.1. Overview
9.5.2. Product Portfolio
9.5.3. Strengths
9.5.4. Challenge
9.6. Kawasaki Heavy Industries Ltd
9.6.1. Overview
9.6.2. Product Portfolio
9.6.3. Strengths
9.6.4. Challenge
9.7. Polaris Inc
9.7.1. Overview
9.7.2. Product Portfolio
9.7.3. Strengths
9.7.4. Challenge
9.8. Suzuki Motors Corporation
9.8.1. Overview
9.8.2. Product Portfolio
9.8.3. Strengths
9.8.4. Challenge
9.9. Textron Inc (Artic Cat)
9.9.1. Overview
9.9.2. Product Portfolio
9.9.3. Strengths
9.9.4. Challenge
9.10. Yamaha Motor Co Ltd
9.10.1. Overview
9.10.2. Product Portfolio
9.10.3. Strengths
9.10.4. Challenge
9.11. Drr Usa
9.11.1. Overview
9.11.2. Product Portfolio
10. Research Methodology & Scope
10.1. Research Scope & Deliverables
10.1.1. Objectives Of Study
10.1.2. Scope Of Study
10.2. Sources Of Data
10.2.1. Primary Data Sources
10.2.2. Secondary Data Sources
10.3. Research Methodology
10.3.1. Evaluation Of The Proposed Market
10.3.2. Identification Of Data Sources
10.3.3. Assessment Of Market Determinants
10.3.4. Data Collection
10.3.5. Data Validation & Analysis
List Of Tables
Table 1: Global Electric Atv And Utv Market, By Regional Outlook, 2024-2032 (In $ Million)
Table 2: List Of Contracts And Partnerships
Table 3: List Of Business Expansion And Divestiture
Table 4: List Of New Product Launches
Table 5: Global Electric Atv And Utv Market, By Vehicle Type, 2024-2032 (In $ Million)
Table 6: Global Electric Atv And Utv Market, By Displacement, 2024-2032 (In $ Million)
Table 7: Global Electric Atv And Utv Market, By Propulsion, 2024-2032 (In $ Million)
Table 8: Global Electric Atv And Utv Market, By Battery Capacity, 2024-2032 (In $ Million)
Table 9: Global Electric Atv And Utv Market, By End-user, 2024-2032 (In $ Million)
Table 10: Global Electric Atv And Utv Market, By Regional Outlook, 2024-2032 (In $ Million)
Table 11: North America Electric Atv And Utv Market, By Country Outlook, 2024-2032 (In $ Million)
Table 12: North America Electric Atv And Utv Market, By Vehicle Type, 2024-2032 (In $ Million)
Table 13: North America Electric Atv And Utv Market, By Displacement, 2024-2032 (In $ Million)
Table 14: North America Electric Atv And Utv Market, By Propulsion, 2024-2032 (In $ Million)
Table 15: North America Electric Atv And Utv Market, By Battery Capacity, 2024-2032 (In $ Million)
Table 16: North America Electric Atv And Utv Market, By End-user, 2024-2032 (In $ Million)
Table 17: Europe Electric Atv And Utv Market, By Country Outlook, 2024-2032 (In $ Million)
Table 18: Europe Electric Atv And Utv Market, By Vehicle Type, 2024-2032 (In $ Million)
Table 19: Europe Electric Atv And Utv Market, By Displacement, 2024-2032 (In $ Million)
Table 20: Europe Electric Atv And Utv Market, By Propulsion, 2024-2032 (In $ Million)
Table 21: Europe Electric Atv And Utv Market, By Battery Capacity, 2024-2032 (In $ Million)
Table 22: Europe Electric Atv And Utv Market, By End-user, 2024-2032 (In $ Million)
Table 23: Asia-pacific Electric Atv And Utv Market, By Country Outlook, 2024-2032 (In $ Million)
Table 24: Asia-pacific Electric Atv And Utv Market, By Vehicle Type, 2024-2032 (In $ Million)
Table 25: Asia-pacific Electric Atv And Utv Market, By Displacement, 2024-2032 (In $ Million)
Table 26: Asia-pacific Electric Atv And Utv Market, By Propulsion, 2024-2032 (In $ Million)
Table 27: Asia-pacific Electric Atv And Utv Market, By Battery Capacity, 2024-2032 (In $ Million)
Table 28: Asia-pacific Electric Atv And Utv Market, By End-user, 2024-2032 (In $ Million)
Table 29: Latin America Electric Atv And Utv Market, By Country Outlook, 2024-2032 (In $ Million)
Table 30: Latin America Electric Atv And Utv Market, By Vehicle Type, 2024-2032 (In $ Million)
Table 31: Latin America Electric Atv And Utv Market, By Displacement, 2024-2032 (In $ Million)
Table 32: Latin America Electric Atv And Utv Market, By Propulsion, 2024-2032 (In $ Million)
Table 33: Latin America Electric Atv And Utv Market, By Battery Capacity, 2024-2032 (In $ Million)
Table 34: Latin America Electric Atv And Utv Market, By End-user, 2024-2032 (In $ Million)
Table 35: Middle East And Africa Electric Atv And Utv Market, By Country Outlook, 2024-2032 (In $ Million)
Table 36: Middle East And Africa Electric Atv And Utv Market, By Vehicle Type, 2024-2032 (In $ Million)
Table 37: Middle East And Africa Electric Atv And Utv Market, By Displacement, 2024-2032 (In $ Million)
Table 38: Middle East And Africa Electric Atv And Utv Market, By Propulsion, 2024-2032 (In $ Million)
Table 39: Middle East And Africa Electric Atv And Utv Market, By Battery Capacity, 2024-2032 (In $ Million)
Table 40: Middle East And Africa Electric Atv And Utv Market, By End-user, 2024-2032 (In $ Million)
List Of Figures
Figure 1: Porter’s Five Forces Analysis
Figure 2: Key Buying Impact Analysis
Figure 3: Global Electric Atv And Utv Market, By Vehicle Type, 2023 & 2032 (In %)
Figure 4: Global Electric Atv And Utv Market, By Atv, 2024-2032 (In $ Million)
Figure 5: Global Electric Atv And Utv Market, By Utv, 2024-2032 (In $ Million)
Figure 6: Global Electric Atv And Utv Market, By Displacement, 2023 & 2032 (In %)
Figure 7: Global Electric Atv And Utv Market, By ≤ 400 (Cc), 2024-2032 (In $ Million)
Figure 8: Global Electric Atv And Utv Market, By 400-800(Cc), 2024-2032 (In $ Million)
Figure 9: Global Electric Atv And Utv Market, By ≥ 800 (Cc), 2024-2032 (In $ Million)
Figure 10: Global Electric Atv And Utv Market, By Propulsion, 2023 & 2032 (In %)
Figure 11: Global Electric Atv And Utv Market, By Battery Electric, 2024-2032 (In $ Million)
Figure 12: Global Electric Atv And Utv Market, By Hybrid, 2024-2032 (In $ Million)
Figure 13: Global Electric Atv And Utv Market, By Battery Capacity, 2023 & 2032 (In %)
Figure 14: Global Electric Atv And Utv Market, By Up To 48v, 2024-2032 (In $ Million)
Figure 15: Global Electric Atv And Utv Market, By 48v To 72v, 2024-2032 (In $ Million)
Figure 16: Global Electric Atv And Utv Market, By Above 72v, 2024-2032 (In $ Million)
Figure 17: Global Electric Atv And Utv Market, By End-user, 2023 & 2032 (In %)
Figure 18: Global Electric Atv And Utv Market, By Recreational, 2024-2032 (In $ Million)
Figure 19: Global Electric Atv And Utv Market, By Sports, 2024-2032 (In $ Million)
Figure 20: Global Electric Atv And Utv Market, By Agriculture & Utility, 2024-2032 (In $ Million)
Figure 21: Global Electric Atv And Utv Market, By Military & Defense, 2024-2032 (In $ Million)
Figure 22: Global Electric Atv And Utv Market, By Other End-users, 2024-2032 (In $ Million)
Figure 23: Global Electric Atv And Utv Market, By Regional Outlook, 2023 & 2032 (In %)
Figure 24: United States Electric Atv And Utv Market, 2024-2032 (In $ Million)
Figure 25: Canada Electric Atv And Utv Market, 2024-2032 (In $ Million)
Figure 26: United Kingdom Electric Atv And Utv Market, 2024-2032 (In $ Million)
Figure 27: Germany Electric Atv And Utv Market, 2024-2032 (In $ Million)
Figure 28: France Electric Atv And Utv Market, 2024-2032 (In $ Million)
Figure 29: Spain Electric Atv And Utv Market, 2024-2032 (In $ Million)
Figure 30: Italy Electric Atv And Utv Market, 2024-2032 (In $ Million)
Figure 31: Poland Electric Atv And Utv Market, 2024-2032 (In $ Million)
Figure 32: Rest Of Europe Electric Atv And Utv Market, 2024-2032 (In $ Million)
Figure 33: China Electric Atv And Utv Market 2024-2032 (In $ Million)
Figure 34: Japan Electric Atv And Utv Market 2024-2032 (In $ Million)
Figure 35: India Electric Atv And Utv Market 2024-2032 (In $ Million)
Figure 36: South Korea Electric Atv And Utv Market 2024-2032 (In $ Million)
Figure 37: Asean Countries Electric Atv And Utv Market 2024-2032 (In $ Million)
Figure 38: Australia & New Zealand Electric Atv And Utv Market 2024-2032 (In $ Million)
Figure 39: Rest Of Asia-pacific Electric Atv And Utv Market 2024-2032 (In $ Million)
Figure 40: Brazil Electric Atv And Utv Market, 2024-2032 (In $ Million)
Figure 41: Mexico Electric Atv And Utv Market, 2024-2032 (In $ Million)
Figure 42: Rest Of Latin America Electric Atv And Utv Market, 2024-2032 (In $ Million)
Figure 43: United Arab Emirates Electric Atv And Utv Market 2024-2032 (In $ Million)
Figure 44: Turkey Electric Atv And Utv Market 2024-2032 (In $ Million)
Figure 45: Saudi Arabia Electric Atv And Utv Market 2024-2032 (In $ Million)
Figure 46: South Africa Electric Atv And Utv Market 2024-2032 (In $ Million)
Figure 47: Rest Of Middle East & Africa Electric Atv And Utv Market 2024-2032 (In $ Million)