LATIN AMERICA ATV AND UTV MARKET 2022-2028
MARKET OUTLOOK
Based on Triton’s estimates, the ATV and UTV market in Latin America is set to witness a compound annual growth rate of 7.39% over the estimated phase 2022-2028. Mexico, Brazil, and Rest of Latin America shape the overall market in this region.
Initially, ATVs and UTVs were not authorized to be operated on roadways in Mexico. Nevertheless, the government introduced supportive legislation to allow the adoption of these quad bikes for road traveling. Here, Mexico’s Governor approved a bill that enabled the use of ATVs and UTVs on roadways, proving beneficial to farmers and ranchers for movement on paved roads. Hence, supportive government steps support the adoption of all-terrain vehicles and utility terrain vehicles, widening Mexico’s ATV and UTV market’s scope.
On the other hand, there has been a rise in quad bike data within Brazil over the past few years. This data is primarily stated by the Brazilian Association of Motorcycle, Moped, and Bicycle Manufacturers, primarily categorized under the nation’s premium database. As a result, this rise states the potential growth in the adoption rate of all-terrain vehicles and utility terrain vehicles. Therefore, the factors mentioned above are expected to fuel the expansion of the Brazilian ATV and UTV market in the near future.
COMPETITIVE OUTLOOK
The popular companies thriving in the ATV and UTV market are Deere and Company, Hisun, Polaris Industries Inc, Kawasaki Heavy Industries, BRP Inc, and CFmoto.
- 1. LATIN AMERICA 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. LATIN AMERICA ATV AND UTV MARKET – BY VEHICLE TYPE
- 2.1. ATV
- 2.2. UTV
- 3. LATIN AMERICA ATV AND UTV MARKET - BY DISPLACEMENT
- 3.1. ≤ 400 (CC)
- 3.2. 400-800(CC)
- 3.3. ≥ 800 (CC)
- 4. LATIN AMERICA ATV AND UTV MARKET - BY FUEL TYPE
- 4.1. GASOLINE-POWERED
- 4.2. DIESEL-POWERED
- 4.3. ELECTRIC-POWERED
- 4.4. SOLAR-POWERED
- 5. LATIN AMERICA 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. LATIN AMERICA ATV AND UTV MARKET – REGIONAL OUTLOOK
- 6.1. LATIN AMERICA
- 1.1.1. BRAZIL
- 1.1.2. MEXICO
- 1.1.3. REST OF LATIN AMERICA
- 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: LATIN AMERICA 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: LATIN AMERICA ATV AND UTV MARKET, BY VEHICLE TYPE, 2022-2028 (IN $ MILLION)
- TABLE 8: LATIN AMERICA ATV AND UTV MARKET, BY DISPLACEMENT, 2022-2028 (IN $ MILLION)
- TABLE 9: LATIN AMERICA ATV AND UTV MARKET, BY FUEL TYPE, 2022-2028 (IN $ MILLION)
- TABLE 10: LATIN AMERICA ATV AND UTV MARKET, BY END-USER, 2022-2028 (IN $ MILLION)
- TABLE 11: NORTH AMERICA 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: LATIN AMERICA ATV AND UTV MARKET, BY VEHICLE TYPE, 2021 & 2028 (IN %)
- FIGURE 4: LATIN AMERICA ATV AND UTV MARKET, BY ATV, 2022-2028 (IN $ MILLION)
- FIGURE 5: LATIN AMERICA ATV AND UTV MARKET, BY UTV, 2022-2028 (IN $ MILLION)
- FIGURE 6: LATIN AMERICA ATV AND UTV MARKET, BY DISPLACEMENT, 2021 & 2028 (IN %)
- FIGURE 7: LATIN AMERICA ATV AND UTV MARKET, BY ≤ 400 (CC), 2022-2028 (IN $ MILLION)
- FIGURE 8: LATIN AMERICA ATV AND UTV MARKET, BY 400-800(CC), 2022-2028 (IN $ MILLION)
- FIGURE 9: LATIN AMERICA ATV AND UTV MARKET, BY ≥ 800 (CC), 2022-2028 (IN $ MILLION)
- FIGURE 10: LATIN AMERICA ATV AND UTV MARKET, BY FUEL TYPE, 2021 & 2028 (IN %)
- FIGURE 11: LATIN AMERICA ATV AND UTV MARKET, BY GASOLINE-POWERED, 2022-2028 (IN $ MILLION)
- FIGURE 12: LATIN AMERICA ATV AND UTV MARKET, BY DIESEL-POWERED, 2022-2028 (IN $ MILLION)
- FIGURE 13: LATIN AMERICA ATV AND UTV MARKET, BY ELECTRIC-POWERED, 2022-2028 (IN $ MILLION)
- FIGURE 14: LATIN AMERICA ATV AND UTV MARKET, BY SOLAR-POWERED, 2022-2028 (IN $ MILLION)
- FIGURE 15: LATIN AMERICA ATV AND UTV MARKET, BY END-USER, 2021 & 2028 (IN %)
- FIGURE 16: LATIN AMERICA ATV AND UTV MARKET, BY RECREATIONAL, 2022-2028 (IN $ MILLION)
- FIGURE 17: LATIN AMERICA ATV AND UTV MARKET, BY SPORTS, 2022-2028 (IN $ MILLION)
- FIGURE 18: LATIN AMERICA ATV AND UTV MARKET, BY AGRICULTURE & UTILITY, 2022-2028 (IN $ MILLION)
- FIGURE 19: LATIN AMERICA ATV AND UTV MARKET, BY MILITARY & DEFENSE, 2022-2028 (IN $ MILLION)
- FIGURE 20: LATIN AMERICA ATV AND UTV MARKET, BY OTHER END-USERS, 2022-2028 (IN $ MILLION)
- FIGURE 21: BRAZIL ATV AND UTV MARKET 2022-2028 (IN $ MILLION)
- FIGURE 22: MEXICO ATV AND UTV MARKET 2022-2028 (IN $ MILLION)
- FIGURE 23: REST OF LATIN AMERICA ATV AND UTV MARKET 2022-2028 (IN $ MILLION)
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