SIGN IN YOUR ACCOUNT TO HAVE ACCESS TO DIFFERENT FEATURES

FORGOT YOUR PASSWORD?

FORGOT YOUR DETAILS?

AAH, WAIT, I REMEMBER NOW!
Questions? Call: (513)-201-0749
4.8 STAR CUSTOMER RATING

Free Shipping on most orders
  • LOGIN

Axiom Side by Side

  • Brands
    • Polaris
      • General 4 1000
      • General 1000
      • Ranger XP 570
      • Ranger XP 900
      • Ranger XP 1000
      • RZR 4 900
      • RZR 900 TRAIL
      • RZR 900 XC
      • RZR RS1
      • RZR S 900
      • RZR S 1000
      • RZR XP4 1000
      • RZR XP4 Turbo
      • RZR XP4 Turbo S
      • RZR XP 1000
      • RZR XP Turbo
      • RZR XP Turbo S
      • RZR PRO XP
      • RZR PRO XP 4
    • Can-Am
      • Commander
      • Maverick X3
    • Kawasaki
      • TERYX2
      • TERYX4
      • Teryx KRX 1000
    • Yamaha
      • YXZ 1000R
      • Wolverine X2
      • Wolverine X4
    • Honda
      • Talon 1000R
      • Talon 1000X
      • Talon 1000X-4
  • Products
    • Protection
    • Body Parts
    • Roofs
    • Doors
    • Storage
    • Windshields
    • Trim
    • Clearance
  • Contact Us
  • Company News
  • Industry News
  • MY CART
    No products in cart.
  • Home
  • BLOG & STORIES
  • Industry News
  • The Worldwide All-terrain Vehicle Industry is Expected to Reach $4.4 Billion by 2025
April 16, 2021

The Worldwide All-terrain Vehicle Industry is Expected to Reach $4.4 Billion by 2025

The Worldwide All-terrain Vehicle Industry is Expected to Reach $4.4 Billion by 2025

by Axiom Admin / Tuesday, 02 February 2021 / Published in Industry News
PROXP2-ROOF

Curious about the future of the all-terrain vehicle market?

According to Globe News Wire:

“The “All-terrain Vehicle Market by Type & Application (Sport, Entertainment, Agriculture, Military & Defense), Drive (2WD, 4WD, AWD), Engine (&lessThan;400, 400-800, >800cc), Fuel (Gasoline, Electric), Wheel Number, Seating Capacity, and Region – Global Forecast to 2025” report has been added to ResearchAndMarkets.com’s offering.

“The all-terrain vehicle market, by value, is projected to grow to USD 4.4 billion by 2025 from USD 3.9 billion in 2020, at a CAGR of 2.4% during the forecast period.

“The rising demand for ATVs in recreational activities, mainly worldwide championships, will boost the future growth of the all-terrain vehicle market.

“The COVID-19 pandemic has had a low impact on the North America and Asia Oceania all-terrain vehicle market. European countries and the RoW region were significantly impacted by COVID-19 and underwent lockdowns, therefore, powersports and recreational activities were stopped. Also, a majority of the ATV manufacturing companies in Europe reported steep decrease in revenues. However, with the resumption of a few power sports and entertainment activities in the coming months, the market is expected to grow in future.

“More than four wheels ATVs to be the fastest growing segment in All-terrain vehicle, by number of wheels

“More than four wheeled ATVs is projected to be the fastest growing market in the all-terrain vehicle market by 2025. OEMs are planning to be more customer-centric in terms of its manufacturing processes. The growing number of ATV buyers are looking for more than 4-wheel ATVs, especially in military and agricultural applications. Thus, OEMs, component manufacturers, and material providers are jointly working to develop more than 4 wheeled ATVs with better design, performance, and efficiency. Hence, more than four wheeled ATVs is projected to be the fastest growing all-terrain vehicle market.

Utility ATV is the largest segment in All-terrain vehicle market, by type

“Utility ATVs are estimated to hold the largest share of the all-terrain vehicle market, by type. Utility ATVs are multipurpose and can be used in different applications such as military, agriculture, construction, forestry, etc. Thus, these vehicles offer lucrative opportunities for all-terrain vehicle manufacturers. In addition, the increasing demand for ATVs in agriculture and military & defense applications in Asia Pacific and North America would further drive the utility all-terrain vehicle market.

North America is estimated to be the largest market for all-terrain vehicles

“The North American all-terrain vehicle industry is one of the most advanced industries in the world. Market growth in the North American region is driven by the dominating ATV market in the US and Canada. In recent years, the region has seen the highest ATV manufacturing growth. The US and Canada together accounted for around 96.2% of the total all-terrain vehicle production in the region in 2019. The Canadian all-terrain vehicle industry is a major contributor to the country’s economy and provides employment for over half a million people. The country has signed a free trade agreement with its neighbors to strengthen the automotive industry. Technological developments in the US have also impacted the Canadian market and boosted the demand for all-terrain vehicles in the country. Polaris Industries (US), Textron (US), and BRP (Canada) are the leading ATV players in the region. According to analysis, the US will continue to drive the growth of the all-terrain vehicle market. This trend of the all-terrain vehicle market in North America is expected to remain the same in the near future.”

Original Source

  • Tweet

About Axiom Admin

What you can read next

Yamaha ATVs and UTVs: A 2021 Buying Guide
Power Sports Market Growth Analysis, Outlook by 2020
Power Sports Market Growth Analysis, Outlook by 2020 – Trends, Opportunities and Forecast to 2026
The Growing Trend of Aftermarket UTV Custom Wheels

Search

Brands

Polaris

Can-Am

Kawasaki

Yamaha

Honda

Products

Protection

Body Parts

Roofs

Doors

Storage

Windshields

Trim

Clearance

Industry News

  • The Growing Trend of Aftermarket UTV Custom Wheels

    There’s a new trend in the UTV market: cu...
  • Yamaha ATVs and UTVs: A 2021 Buying Guide

    Looking to purchase a Yamaha this year? Accordi...
  • ATV & Side By Side Market 2020

    Trends Shaping The All-Terrain Vehicle (ATV) Industry Outlook In 2021

    Curious about the future of the ATV industry in...
  • RZR XP 10000

    Why Are UTVs Called Side By Side?

    Curious why UTVs are called side-by-sides? Acco...

GET A FREE QUOTE

Please fill this for and we'll get back to you as soon as possible!

MENU

  • Home
  • Brand
  • Products
  • Contact Us
  • News

GET IN TOUCH

(513) 201-0749
Email: [email protected]

1146 Ferris Road Suite 700
Cincinnati, OH 45102

Open in Google Maps

  • Home
  • Brand
  • Products
  • Contact Us
  • News
  • GET SOCIAL

© 2020 All rights reserved. Axiom Side By Side

TOP