According to Stratistics MRC, the Global All-terrain Vehicle Market is accounted for $2.9 billion in 2024 and is expected to reach $3.4 billion by 2030 growing at a CAGR of 2.9% during the forecast period.
Often referred to as a quad bike or light utility vehicle (LUV), an all-terrain vehicle (ATV) is a vehicle that rides on low-pressure tires, has a seat that the operator can straddle, and steers with handlebars, just like a motorcycle. As the name suggests, it is made to handle a variety of rough or unpaved terrain, such as mountain trails, grasslands, and sandy areas.
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Over the forecast period, the Asia Pacific region is anticipated to exhibit the highest CAGR owing to rapid industrialization and increasing disposable incomes in countries like China and India. The region’s growing interest in adventure sports fuels demand for recreational ATVs. Additionally, expanding agricultural applications of ATVs in rural areas drive adoption further. Government initiatives promoting electric mobility also contribute significantly by encouraging investments in eco-friendly ATV technologies across Asia Pacific markets.
Some of the key players in All-terrain Vehicle Market include Polaris Inc., Honda Motor Company Ltd., Yamaha Motor Corporation, BRP Inc., Arctic Cat Inc., Kawasaki Heavy Industries, Suzuki Motor Corporation, CFMOTO, Textron Inc., Deere & Company, KTM AG, Linhai, Hisun Motors, KYMCO (Kwang Yang Motor Co.), American LandMaster, TGB (Taiwan Golden Bee), CECTEK and Mitsubishi Heavy Industries Ltd.
Key Developments:
In January 2025, Polaris off Road, the world leader in powersports and off-road innovation announced six new 2025 purpose-built ATV models, highlighted by the 850 and XP 1000 Mud Edition, Scrambler 850, Scrambler XP 1000 S, and Sportsman Touring 850 and Touring XP 1000. The new models feature upgrades that give riders the confidence to explore the outdoors and enable all-day comfort, while elevating the off-road mudding and sport experience. Whether riders are powering through mud pits, or tackling challenging trails, the new offerings take riders further for smooth, strong and versatile performance.
In October 2024, Kawasaki Motors inaugurated a new US $200 million factory in the northern Mexican state of Nuevo León where it will produce all-terrain vehicles and personal watercraft. The new factory is located in Salinas Victoria, about 7 km north of Monterrey, the state capital. The plant, which began operations in April and is expected to generate 1,500 jobs by 2026, will have an annual production capacity of up to 30,000 off-road four-wheelers.
In August 2024, Yamaha Motor Corp., USA, sets a new Proven Off-Road standard with its 2025 ATV models. From conquering the toughest terrain to embarking on epic adventures, the 2025 collection of ATV models showcases Yamaha’s commitment to providing optimal capability, comfort, and confidence during work or play for every off-road enthusiast and family wanting reliable performance.
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