Global ATV and UTV Market predicted to be valued at over $13 billion by 2032

ATV And UTV Market

Inkwood Research anticipates that the Global ATV and UTV Market will surge with a 4.64% CAGR by 2032 and is set to generate $13114.59 during the assessment years 2023-2032.

“Browse 54 market data Tables and 84 Figures spread over 232 Pages, along with an in-depth TOC on the Global ATV and UTV Market Forecast 2023-2032.”

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ATVs are off-road vehicles majorly used for sports and leisure purposes. On the other hand, utility terrain vehicles (UTVs) are four‑wheel drive, side‑by‑side off‑road vehicles used to transport individuals and cargo. Factors such as increasing ATV & UTV usage in the military, the growing popularity of adventure sports, and government rules supporting ATVs & UTVs are estimated to propel the market growth. There has been a growing demand for off-road vehicles for military activities, like transporting troops and driving on rugged terrains.

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Increasing Usage of ATVs & UTVs in Military

There is an increase in demand for ATVs and UTVs for military activities such as driving on difficult terrain, transporting troops, etc. These vehicles are expected to witness a substantial boost in the military segment, owing to their superior mobility for tactical missions. Moreover, high maneuverability, flexibility, and excellent navigational help provide instant directions for vehicle operators.

Military & Defense to Lead the End-User Segment

ATVs and UTVs are also gaining traction in the military and defense segment. The military uses ATVs as carriers for off-road personnel undertaking effective reconciliation missions and setting them up with advanced weapon systems. The United States Army, Navy, and the United States Special Operations Command use ATVs in their fleets. Also, global players supply ATVs to numerous countries’ police forces, such as Germany, France, Latvia, and India.

Dominating Region: North America    

The growing trend of recreational activities, adventure sports, and increased demand for ATVs and UTVs in military activities are expected to drive market growth in North America. Further, as most ATVs and UTVs are not permitted to be operatable on highways and other main roads, government authorities across North America increased the budgetary allocations to build new off-road trails anticipated to boost recreational enthusiasts and adventure sports activities in the region. Such factors are expected to support market growth in the next few years.

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