ASIA-PACIFIC ATV AND UTV MARKET FORECAST 2023-2032
SCOPE OF THE REPORT
Asia-Pacific ATV and UTV Market by Vehicle Type (ATV, UTV) Market by Fuel Type (Gasoline-powered, Diesel-powered, Electric-powered, Solar-powered) Market by Displacement (≤400 (CC), 400-800 (CC), ≥800 (CC)) Market by End-user (Recreational, Sports, Agriculture & Utility, Military & Defense, Other End-users) by Geography
REPORTS » » » AUTOMOTIVE » AUTOMOTIVE TECHNOLOGY » ASIA-PACIFIC ATV AND UTV MARKET FORECAST 2023-2032
MARKET OVERVIEW
The Asia-Pacific ATV and UTV market is set to record a 5.47% CAGR by 2032 and generate $4416.99 million during the assessment period, 2023-2032.
In the Asia-Pacific, the presence of many leading market players attracts foreign investment, increases research and development, and propels similar industry-related developments, which supports market growth. Further, manufacturers are thriving in the region due to the cheap costs of raw materials required to produce ATVs and UTVs.
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The Asia-Pacific ATV and UTV market growth analysis includes the evaluation of India, Japan, Australia & New Zealand, China, Thailand, South Korea, and Rest of Asia-Pacific. China is forecasted to be one of the biggest ATV and UTV vehicle consumers in the forecasted years, majorly driven by rising disposable incomes. The market in the country is run by small ATV manufacturers packed in Guangdong, Shandong, Shanghai, Zhejiang, and Chongqing.
In addition, the nation is one of the largest lithium producers and a giant in global chemical cobalt and spherical graphite production. All these materials are the main component elements in lithium-ion batteries used in electric ATVs and UTVs. Therefore, numerous new local manufacturers are entering the China ATV and UTV market due to the ease of business in the country.
On the other hand, in Japan, leading manufacturers are launching new lines of off-road vehicles to compete in the global ATV and UTV market. Japanese-made ATVs also have a good reputation for their performance and durability. The 2021 Olympic Games in Tokyo boosted the weakening Japanese sports market. As a result, the market is experiencing a positive impact with regard to related sports recreational activities such as ATV and UTV activities. Therefore, the durability and sturdiness of these utility terrain vehicles, the speeding motor racing events, and the importance & awareness of fitness have led people to pursue endurance sports, which is projected to escalate the market growth during the forecast period.
The Asia-Pacific ATV and UTV market assessment includes segmentation by displacement, vehicle type, end-user, and fuel type. The market by fuel type covers diesel-powered, gasoline-powered, solar-powered, and electric-powered.
Most ATV and UTV vehicles are gasoline-powered and use a mixture of oil and gasoline in specific proportions to protect engine parts as well as ensure fast acceleration. The expansion of gasoline-powered ATVs and UTVs are boosted by the availability of various vehicles with improved engines, performance, and added safety features.
On the other hand, heavy-duty ATVs and UTVs are generally equipped with diesel-powered engines since they are primarily used for powerful towing and material handling applications. As a result, several ATV and UTV manufacturing companies are introducing vehicles for better load-carrying and towing capacity.
Some of the leading companies operating in the global ATV and UTV market are Yamaha Motor Co Ltd, Kubota Corporation, CFMOTO, etc.
CFMOTO develops, manufactures, markets, and delivers motorcycles, all-terrain vehicles, and side-by-side utility vehicles. It also develops and manufactures Powersports vehicle engines. In addition, it provides its vehicle-related parts, including socket and adaptor assembly, hitch kit, wiper assembly, side mirror assembly, rear panel assembly, and arm protector assembly. Moreover, it offers gear, and accessories, including fleece, jackets, T-shirts, sleeves, and goggles. The company operates across the Americas, Asia-Pacific, Europe, and Middle East & Africa. CFMOTO is headquartered in Hangzhou, China.
CFORCE 450L from CFMOTO is an ATV that is maneuverable, midsize, affordable, and rugged, with a high-strength steel frame backbone matched to a single-cylinder liquid-cooled SOHC engine and smooth CVT transmission.
REPORT SYNOPSIS
REPORT SCOPE | DETAILS |
---|---|
Market Forecast Years | 2023-2032 |
Base Year | 2022 |
Market Historical Years | 2018-2021 |
Forecast Units | Revenue ($ Million) |
Segments Analyzed | Vehicle Type, Fuel Type, Displacement, End-User |
Countries Analyzed | China, Japan, India, South Korea, Thailand, Australia & New Zealand, and Rest of Asia-Pacific |
Companies Analyzed | BRP Inc, CFMOTO, Deere & Company, Hisun Motors Corporation, Honda Motor Company Ltd, Kawasaki Heavy Industries Ltd, Kubota Corporation, Kwang Yang Motor Co Ltd, Polaris Inc, Suzuki Motors Corporation, Textron Inc, Yamaha Motor Co Ltd |
TABLE OF CONTENT
RESEARCH SCOPE & METHODOLOGY
- STUDY OBJECTIVES
- METHODOLOGY
- ASSUMPTIONS & LIMITATIONS
EXECUTIVE SUMMARY
- MARKET SIZE & ESTIMATES
- MARKET OVERVIEW
- SCOPE OF STUDY
- CRISIS SCENARIO ANALYSIS
- MAJOR MARKET FINDINGS
- GROWING DEFENSE ACTIVITIES AND EXPENSES TO AID IN MARKET GROWTH
- GREAT VARIETY OF VEHICLES
MARKET DYNAMICS
- KEY DRIVERS
- GROWING POPULARITY OF ADVENTURE SPORTS
- INCREASING USAGE OF ATVS AND UTVS IN MILITARY
- KEY RESTRAINTS
- BAN ON DRIVING IN WILDLIFE AREAS
- HIGH MAINTENANCE COSTS
- KEY DRIVERS
KEY ANALYTICS
- KEY MARKET TRENDS
- PORTER’S FIVE FORCES ANALYSIS
- BUYERS POWER
- SUPPLIERS POWER
- SUBSTITUTION
- NEW ENTRANTS
- INDUSTRY RIVALRY
- GROWTH PROSPECT MAPPING
- MARKET MATURITY ANALYSIS
- MARKET CONCENTRATION ANALYSIS
- KEY BUYING CRITERIA
MARKET BY VEHICLE TYPE
- ATV
- MARKET FORECAST REVENUE & FIGURE
- SEGMENT ANALYSIS
- UTV
- MARKET FORECAST REVENUE & FIGURE
- SEGMENT ANALYSIS
- ATV
MARKET BY FUEL TYPE
- GASOLINE-POWERED
- MARKET FORECAST REVENUE & FIGURE
- SEGMENT ANALYSIS
- DIESEL-POWERED
- MARKET FORECAST REVENUE & FIGURE
- SEGMENT ANALYSIS
- ELECTRIC-POWERED
- MARKET FORECAST REVENUE & FIGURE
- SEGMENT ANALYSIS
- SOLAR-POWERED
- MARKET FORECAST REVENUE & FIGURE
- SEGMENT ANALYSIS
- GASOLINE-POWERED
MARKET BY DISPLACEMENT
- ≤400 (CC)
- MARKET FORECAST REVENUE & FIGURE
- SEGMENT ANALYSIS
- 400-800 (CC)
- MARKET FORECAST REVENUE & FIGURE
- SEGMENT ANALYSIS
- ≥800 (CC)
- MARKET FORECAST REVENUE & FIGURE
- SEGMENT ANALYSIS
- ≤400 (CC)
MARKET BY END-USER
- RECREATIONAL
- MARKET FORECAST REVENUE & FIGURE
- SEGMENT ANALYSIS
- SPORTS
- MARKET FORECAST REVENUE & FIGURE
- SEGMENT ANALYSIS
- AGRICULTURE & UTILITY
- MARKET FORECAST REVENUE & FIGURE
- SEGMENT ANALYSIS
- MILITARY & DEFENSE
- MARKET FORECAST REVENUE & FIGURE
- SEGMENT ANALYSIS
- OTHER END-USERS
- MARKET FORECAST REVENUE & FIGURE
- SEGMENT ANALYSIS
- RECREATIONAL
GEOGRAPHICAL ANALYSIS
- ASIA-PACIFIC
- MARKET SIZE & ESTIMATES
- ASIA-PACIFIC ATV AND UTV MARKET DRIVERS
- ASIA-PACIFIC ATV AND UTV MARKET CHALLENGE
- KEY PLAYERS
- COUNTRY ANALYSIS
- CHINA
- CHINA ATV AND UTV MARKET SIZE & OPPORTUNITIES
- JAPAN
- JAPAN ATV AND UTV MARKET SIZE & OPPORTUNITIES
- INDIA
- INDIA ATV AND UTV MARKET SIZE & OPPORTUNITIES
- SOUTH KOREA
- SOUTH KOREA ATV AND UTV MARKET SIZE & OPPORTUNITIES
- THAILAND
- THAILAND ATV AND UTV MARKET SIZE & OPPORTUNITIES
- AUSTRALIA & NEW ZEALAND
- AUSTRALIA & NEW ZEALAND ATV AND UTV MARKET SIZE & OPPORTUNITIES
- REST OF ASIA-PACIFIC
- REST OF ASIA-PACIFIC ATV AND UTV MARKET SIZE & OPPORTUNITIES
- CHINA
- ASIA-PACIFIC
COMPETITIVE LANDSCAPE
- KEY STRATEGIC DEVELOPMENTS
- PRODUCT LAUNCHES & DEVELOPMENTS
- PARTNERSHIPS & AGREEMENTS
- BUSINESS EXPANSIONS & DIVESTITURES
- COMPANY PROFILES
- BRP INC
- COMPANY OVERVIEW
- PRODUCT LIST
- FINANCIAL ANALYSIS
- STRENGTHS & CHALLENGES
- CFMOTO
- COMPANY OVERVIEW
- PRODUCT LIST
- FINANCIAL ANALYSIS
- STRENGTH & CHALLENGES
- DEERE & COMPANY
- COMPANY OVERVIEW
- PRODUCT LIST
- FINANCIAL ANALYSIS
- STRENGTHS & CHALLENGES
- HISUN MOTORS CORPORATION
- COMPANY OVERVIEW
- PRODUCT LIST
- STRENGTHS & CHALLENGES
- HONDA MOTOR COMPANY LTD
- COMPANY OVERVIEW
- PRODUCT LIST
- FINANCIAL ANALYSIS
- STRENGTHS & CHALLENGES
- KAWASAKI HEAVY INDUSTRIES LTD
- COMPANY OVERVIEW
- PRODUCT LIST
- FINANCIAL ANALYSIS
- STRENGTHS & CHALLENGES
- KUBOTA CORPORATION
- COMPANY OVERVIEW
- PRODUCT LIST
- FINANCIAL ANALYSIS
- STRENGTHS & CHALLENGES
- KWANG YANG MOTOR CO LTD
- COMPANY OVERVIEW
- PRODUCT LIST
- STRENGTHS & CHALLENGES
- POLARIS INC
- COMPANY OVERVIEW
- PRODUCT LIST
- FINANCIAL ANALYSIS
- STRENGTH & CHALLENGES
- SUZUKI MOTORS CORPORATION
- COMPANY OVERVIEW
- PRODUCT LIST
- FINANCIAL ANALYSIS
- STRENGTH & CHALLENGES
- TEXTRON INC (ARTIC CAT)
- COMPANY OVERVIEW
- PRODUCT LIST
- FINANCIAL ANALYSIS
- STRENGTHS & CHALLENGES
- YAMAHA MOTOR CO LTD
- COMPANY OVERVIEW
- PRODUCT LIST
- FINANCIAL ANALYSIS
- STRENGTHS & CHALLENGES
- BRP INC
- KEY STRATEGIC DEVELOPMENTS
LIST OF TABLES
TABLE 1: MARKET SNAPSHOT – ATV AND UTV
TABLE 2: ASIA-PACIFIC ATV AND UTV MARKET, BY VEHICLE TYPE, HISTORICAL YEARS, 2018-2021 (IN $ MILLION)
TABLE 3: ASIA-PACIFIC ATV AND UTV MARKET, BY VEHICLE TYPE, FORECAST YEARS, 2023-2032 (IN $ MILLION)
TABLE 4: ASIA-PACIFIC ATV AND UTV MARKET, BY FUEL TYPE, HISTORICAL YEARS, 2018-2021 (IN $ MILLION)
TABLE 5: ASIA-PACIFIC ATV AND UTV MARKET, BY FUEL TYPE, FORECAST YEARS, 2023-2032 (IN $ MILLION)
TABLE 6: ASIA-PACIFIC ATV AND UTV MARKET, BY DISPLACEMENT, HISTORICAL YEARS, 2018-2021 (IN $ MILLION)
TABLE 7: ASIA-PACIFIC ATV AND UTV MARKET, BY DISPLACEMENT, FORECAST YEARS, 2023-2032 (IN $ MILLION)
TABLE 8: ASIA-PACIFIC ATV AND UTV MARKET, BY END-USER, HISTORICAL YEARS, 2018-2021 (IN $ MILLION)
TABLE 9: ASIA-PACIFIC ATV AND UTV MARKET, BY END-USER, FORECAST YEARS, 2023-2032 (IN $ MILLION)
TABLE 10: ASIA-PACIFIC ATV AND UTV MARKET, BY COUNTRY, HISTORICAL YEARS, 2018-2021 (IN $ MILLION)
TABLE 11: ASIA-PACIFIC ATV AND UTV MARKET, BY COUNTRY, FORECAST YEARS, 2023-2032 (IN $ MILLION)
TABLE 12: KEY PLAYERS OPERATING IN THE ASIA-PACIFIC ATV AND UTV MARKET
TABLE 13: LIST OF PRODUCT LAUNCHES & DEVELOPMENTS
TABLE 14: LIST OF PARTNERSHIPS & AGREEMENTS
TABLE 15: LIST OF BUSINESS EXPANSIONS & DIVESTITURES
LIST OF FIGURES
FIGURE 1: KEY MARKET TRENDS
FIGURE 2: PORTER’S FIVE FORCES ANALYSIS
FIGURE 3: GROWTH PROSPECT MAPPING
FIGURE 4: MARKET MATURITY ANALYSIS
FIGURE 5: MARKET CONCENTRATION ANALYSIS
FIGURE 6: KEY BUYING CRITERIA
FIGURE 7: ASIA-PACIFIC ATV AND UTV MARKET, GROWTH POTENTIAL, BY VEHICLE TYPE, IN 2022
FIGURE 8: ASIA-PACIFIC ATV AND UTV MARKET, BY ATV, 2023-2032 (IN $ MILLION)
FIGURE 9: ASIA-PACIFIC ATV AND UTV MARKET, BY UTV, 2023-2032 (IN $ MILLION)
FIGURE 10: ASIA-PACIFIC ATV AND UTV MARKET, GROWTH POTENTIAL, BY FUEL TYPE, IN 2022
FIGURE 11: ASIA-PACIFIC ATV AND UTV MARKET, BY GASOLINE-POWERED, 2023-2032 (IN $ MILLION)
FIGURE 12: ASIA-PACIFIC ATV AND UTV MARKET, BY DIESEL-POWERED, 2023-2032 (IN $ MILLION)
FIGURE 13: ASIA-PACIFIC ATV AND UTV MARKET, BY ELECTRIC-POWERED, 2023-2032 (IN $ MILLION)
FIGURE 14: ASIA-PACIFIC ATV AND UTV MARKET, BY SOLAR-POWERED, 2023-2032 (IN $ MILLION)
FIGURE 15: ASIA-PACIFIC ATV AND UTV MARKET, GROWTH POTENTIAL, BY DISPLACEMENT, IN 2022
FIGURE 16: ASIA-PACIFIC ATV AND UTV MARKET, BY ≤400 (CC), 2023-2032 (IN $ MILLION)
FIGURE 17: ASIA-PACIFIC ATV AND UTV MARKET, BY 400-800 (CC), 2023-2032 (IN $ MILLION)
FIGURE 18: ASIA-PACIFIC ATV AND UTV MARKET, BY ≥800 (CC), 2023-2032 (IN $ MILLION)
FIGURE 19: ASIA-PACIFIC ATV AND UTV MARKET, GROWTH POTENTIAL, BY END-USER, IN 2022
FIGURE 20: ASIA-PACIFIC ATV AND UTV MARKET, BY RECREATIONAL, 2023-2032 (IN $ MILLION)
FIGURE 21: ASIA-PACIFIC ATV AND UTV MARKET, BY SPORTS, 2023-2032 (IN $ MILLION)
FIGURE 22: ASIA-PACIFIC ATV AND UTV MARKET, BY AGRICULTURE & UTILITY, 2023-2032 (IN $ MILLION)
FIGURE 23: ASIA-PACIFIC ATV AND UTV MARKET, BY MILITARY & DEFENSE, 2023-2032 (IN $ MILLION)
FIGURE 24: ASIA-PACIFIC ATV AND UTV MARKET, BY OTHER END-USERS, 2023-2032 (IN $ MILLION)
FIGURE 25: ASIA-PACIFIC ATV AND UTV MARKET, COUNTRY OUTLOOK, 2022 & 2032 (IN %)
FIGURE 26: CHINA ATV AND UTV MARKET, 2023-2032 (IN $ MILLION)
FIGURE 27: JAPAN ATV AND UTV MARKET, 2023-2032 (IN $ MILLION)
FIGURE 28: INDIA ATV AND UTV MARKET, 2023-2032 (IN $ MILLION)
FIGURE 29: SOUTH KOREA ATV AND UTV MARKET, 2023-2032 (IN $ MILLION)
FIGURE 30: THAILAND ATV AND UTV MARKET, 2023-2032 (IN $ MILLION)
FIGURE 31: AUSTRALIA & NEW ZEALAND ATV AND UTV MARKET, 2023-2032 (IN $ MILLION)
FIGURE 32: REST OF ASIA-PACIFIC ATV AND UTV MARKET, 2023-2032 (IN $ MILLION)
FIGURE 33: BRP INC, COMPANY REVENUE, IN 2018-2021 (IN $ MILLION)
FIGURE 34: BRP INC, COMPANY PROFIT, IN 2018-2021 (IN $ MILLION)
FIGURE 35: BRP INC, COMPANY REVENUE, BY SEGMENT, IN 2021 (IN %)
FIGURE 36: BRP INC, COMPANY REVENUE, BY GEOGRAPHY, IN 2021 (IN %)
FIGURE 37: CFMOTO, COMPANY REVENUE, IN 2018-2021 (IN $ MILLION)
FIGURE 38: CFMOTO, COMPANY PROFIT, IN 2018-2021 (IN $ MILLION)
FIGURE 39: DEERE & COMPANY, COMPANY REVENUE, IN 2018-2021 (IN $ MILLION)
FIGURE 40: DEERE & COMPANY, COMPANY PROFIT, IN 2018-2021 (IN $ MILLION)
FIGURE 41: DEERE & COMPANY, COMPANY REVENUE, BY SEGMENT, IN 2021 (IN %)
FIGURE 42: DEERE & COMPANY, COMPANY REVENUE, BY GEOGRAPHY, IN 2021 (IN %)
FIGURE 43: HONDA MOTOR CO LTD, COMPANY REVENUE, IN 2018-2021 (IN $ MILLION)
FIGURE 44: HONDA MOTOR CO LTD, COMPANY PROFIT, IN 2018-2021 (IN $ MILLION)
FIGURE 45: HONDA MOTOR CO LTD, COMPANY REVENUE, BY SEGMENT, IN 2021 (IN %)
FIGURE 46: HONDA MOTOR CO LTD, COMPANY REVENUE, BY GEOGRAPHY, IN 2021 (IN %)
FIGURE 47: KAWASAKI HEAVY INDUSTRIES LTD, COMPANY REVENUE, IN 2018-2021 (IN $ MILLION)
FIGURE 48: KAWASAKI HEAVY INDUSTRIES LTD, COMPANY PROFIT, IN 2018-2021 (IN $ MILLION)
FIGURE 49: KAWASAKI HEAVY INDUSTRIES LTD, COMPANY REVENUE, BY SEGMENT, IN 2020 (IN %)
FIGURE 50: KAWASAKI HEAVY INDUSTRIES LTD, COMPANY REVENUE, BY GEOGRAPHY, IN 2020 (IN %)
FIGURE 51: KUBOTA CORPORATION, COMPANY REVENUE, IN 2018-2021 (IN $ MILLION)
FIGURE 52: KUBOTA CORPORATION, COMPANY PROFIT, IN 2018-2021 (IN $ MILLION)
FIGURE 53: KUBOTA CORPORATION, COMPANY REVENUE, BY SEGMENT, IN 2021 (IN %)
FIGURE 54: KUBOTA CORPORATION, COMPANY REVENUE, BY GEOGRAPHY, IN 2020 (IN %)
FIGURE 55: POLARIS INC, COMPANY REVENUE, IN 2018-2021 (IN $ MILLION)
FIGURE 56: POLARIS INC, COMPANY PROFIT, IN 2018-2021 (IN $ MILLION)
FIGURE 57: POLARIS INC, COMPANY REVENUE, BY SEGMENT, IN 2021 (IN %)
FIGURE 58: POLARIS INC, COMPANY REVENUE, BY GEOGRAPHY, IN 2021 (IN %)
FIGURE 59: SUZUKI MOTORS CORPORATION, COMPANY REVENUE, IN 2018-2021 (IN $ MILLION)
FIGURE 60: SUZUKI MOTORS CORPORATION, COMPANY PROFIT, IN 2018-2021 (IN $ MILLION)
FIGURE 61: SUZUKI MOTORS CORPORATION, COMPANY REVENUE, BY SEGMENT, IN 2020 (IN %)
FIGURE 62: SUZUKI MOTORS CORPORATION, COMPANY REVENUE, BY GEOGRAPHY, IN 2020 (IN %)
FIGURE 63: TEXTRON INC, COMPANY REVENUE, IN 2018-2021 (IN $ MILLION)
FIGURE 64: TEXTRON INC, COMPANY PROFIT, IN 2018-2021 (IN $ MILLION)
FIGURE 65: TEXTRON INC, COMPANY REVENUE, BY SEGMENT, IN 2021 (IN %)
FIGURE 66: TEXTRON INC, COMPANY REVENUE, BY GEOGRAPHY, IN 2021 (IN %)
FIGURE 67: YAMAHA MOTOR CO LTD, COMPANY REVENUE, IN 2018-2021 (IN $ MILLION)
FIGURE 68: YAMAHA MOTOR CO LTD, COMPANY PROFIT, IN 2018-2021 (IN $ MILLION)
FIGURE 69: YAMAHA MOTOR CO LTD, COMPANY REVENUE, BY SEGMENT, IN 2021 (IN %)
FIGURE 70: YAMAHA MOTOR CO LTD, COMPANY REVENUE, BY GEOGRAPHY, IN 2021 (IN %)
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