According to 6Wresearch Global ATV & UTV Market size is expected to register substantial growth over the forecast period 2020-26. Currently, North America accounts for the highest revenue share in the overall ATV & UTV market on account of the increasing application of UTV & ATV in mining, forests, and agriculture sectors. Though Tourism is a major driver of the market, the use of ATV & UTV is banned in wildlife areas to protect the terrains and wildlife habitat from getting damaged. These vehicles cause soil erosion, compaction, and pollution. Moreover, the sound produced drives away animals in the area. Another concern for the industry is the safety of drivers. There has been an increase in the number of deaths and injury cases. Less expertise or no experience in ATV riding and difficult terrain conditions are the main reasons for such incidents. Based on Vehicle types, ATV has a higher market share than UTV. However, the share of UTV in the industry is expected to rise in the coming years owing to applications of these vehicles across many sectors.
Key Highlights of the Report
- Global UTV and ATV Market Outlook
- Global UTV and ATV Market Overview
- Global UTV and ATV Market Forecast
- Market Drivers and Restraints
- Global UTV and ATV Market Trends
- Industry Life Cycle
- Porter’s Five Force Analysis
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