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NORTH AMERICA ELECTRIC ATV AND UTV MARKET FORECAST 2024-2032

SCOPE OF THE REPORT

North America Electric ATV and UTV Market by Vehicle Type (ATV, UTV) Market by Propulsion Type (Battery Electric ATV and UTV, Hybrid Electric ATV and UTV) Market by Displacement (≤400 (CC), 400-800 (CC), ≥800 (CC)) Market by Battery Capacity (Up to 48V, 48V to 72V, More Than 72V) Market by End-user (Recreational, Sports, Agriculture & Utility, Military & Defense, Other End-users)by Geography


MARKET OVERVIEW

The North America electric ATV and UTV market is expected to register a CAGR of 11.76% during the forecast period, 2024-2032, and is estimated to garner a revenue of $xx million by 2032.

The electric ATV and UTV market growth in North America is accredited to government agencies expanding support to developing off-road trails to support outdoor tourists and improve adventure sports activities. Further, ATVs and UTVs have found applications in the agriculture, hunting, mountaineering, military, and gardening industries. 

However, given their fatality rate, ATVs and UTVs are not allowed on highways, streets, and main roads in several parts of Canada and the US.

North America Electric ATV and UTV Market

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The North America electric ATV and UTV market growth evaluation includes the analysis of the United States and Canada. In the United States, market advancement is boosted by factors such as the increasing interest in adventure sports, favorable governmental regulations, and the rising utilization of ATVs and UTVs in military operations. The demand for quad bikes in military applications is on the rise due to their advantageous mobility in tactical operations. Additionally, their enhanced flexibility and navigational capabilities provide precise guidance to operators. Currently, the ATV and UTV market is thriving in the region. The growing popularity of electric ATVs and UTVs reflects a positive trend driven by the country’s increasing engagement in off-road leisure activities.

The North America electric ATV and UTV market segmentation includes propulsion type, displacement, battery capacity, end-user, and vehicle type. The displacement segment includes ≤400 (CC), 400-800 (CC), and ≥800 (CC).

ATVs and UTVs with 400-500 CC are specifically engineered for light off-road trails and have gained popularity among farmers due to their suitability for tasks like sowing, fertilizing, and harvesting. These vehicles offer ample power for navigating outdoor activities, and well-known companies such as Honda Motor Company, Kawasaki Heavy Industries, and Polaris Industries Inc. have established a strong presence in this segment.

On the other hand, ATVs and UTVs ranging from 500 to 800 CC deliver increased power, making them ideal for dynamic and rapid off-trail riding. Additionally, they find application in hauling goods on construction sites and handling heavy tasks in agriculture, including lifting items on gentle slopes. The broader range of these vehicles is exemplified by models like the Yamaha Raptor 700R and Polaris Sportsman 700EFI.

Some of the eminent companies operating in the North America electric ATV and UTV market include Eco Charger, Textron Inc (Arctic Cat), DRR USA, etc.

Textron Inc (Arctic Cat) operates in the aircraft, defense, industrial, and finance sectors. The company’s range of products and services includes the sale and provision of aftermarket services for aircraft, military and commercial helicopters, spare parts and services related to aircraft, unmanned aircraft systems, land and marine systems, weapons and sensors, as well as aviation mission support products and services. 

Additionally, Textron offers industrial products such as fuel systems, functional components, golf cars, turf care vehicles, tools, and testing equipment. The company has a presence in the Americas, Asia-Pacific, Europe, and the Middle East, with headquarters in Providence, Rhode Island, the United States.

REPORT SYNOPSIS

REPORT SCOPEDETAILS
Market Forecast Years2024-2032
Base Year2023
Market Historical Years2018-2022
Forecast UnitsRevenue ($ Million)
Segments Analyzed
End-User, Battery Capacity, Displacement, Propulsion Type, and Vehicle Type
Countries AnalyzedThe United States and Canada
Companies AnalyzedBRP Inc, CFMOTO, Eco Charger, Hisun Motors Corporation, Honda Motor Company Ltd, Kawasaki Heavy Industries Ltd, Polaris Inc, Suzuki Motor Corporation, Textron Inc (Arctic Cat), Yamaha Motor Co Ltd, DRR USA
TABLE OF CONTENTS
  1. RESEARCH SCOPE & METHODOLOGY
    1. STUDY OBJECTIVES
    2. METHODOLOGY
    3. ASSUMPTIONS & LIMITATIONS
  2. EXECUTIVE SUMMARY
    1. MARKET SIZE & ESTIMATES
    2. MARKET OVERVIEW
    3. SCOPE OF STUDY
    4. CRISIS SCENARIO ANALYSIS
    5. MAJOR MARKET FINDINGS
      1. GROWING DEFENSE ACTIVITIES AND EXPENSES AID MARKET GROWTH
      2. SHIFTING FOCUS TOWARD ELECTRIC VARIANTS
  3. MARKET DYNAMICS
    1. KEY DRIVERS
      1. LOW NOISE EMISSIONS FROM ELECTRIC ATVs AND UTVs IMPROVE THEIR APPLICABILITY
      2. INCREASING GLOBAL AWARENESS REGARDING EMISSION REDUCTION
    2. KEY RESTRAINTS
      1. VEHICLE RANGE AND BATTERY WEIGHT CONCERNS
      2. COSTLIER THAN INTERNAL COMBUSTION ENGINE ATVs AND UTVs
  4. KEY ANALYTICS
    1. KEY MARKET TRENDS
    2. PORTER’S FIVE FORCES ANALYSIS
      1. BUYERS POWER
      2. SUPPLIERS POWER
      3. SUBSTITUTION
      4. NEW ENTRANTS
      5. INDUSTRY RIVALRY
    3. GROWTH PROSPECT MAPPING
    4. MARKET CONCENTRATION ANALYSIS
    5. KEY BUYING CRITERIA
  5. MARKET BY VEHICLE TYPE
    1. ATV
      1. MARKET FORECAST REVENUE & FIGURE
      2. SEGMENT ANALYSIS
    2. UTV
      1. MARKET FORECAST REVENUE & FIGURE
      2. SEGMENT ANALYSIS
  6. MARKET BY PROPULSION TYPE
    1. BATTERY ELECTRIC ATV AND UTV
      1. MARKET FORECAST REVENUE & FIGURE
      2. SEGMENT ANALYSIS
    2. HYBRID ELECTRIC ATV AND UTV
      1. MARKET FORECAST REVENUE & FIGURE
      2. SEGMENT ANALYSIS
  7. MARKET BY DISPLACEMENT
    1. ≤400 (CC)
      1. MARKET FORECAST REVENUE & FIGURE
      2. SEGMENT ANALYSIS
    2. 400-800 (CC)
      1. MARKET FORECAST REVENUE & FIGURE
      2. SEGMENT ANALYSIS
    3. ≥800 (CC)
      1. MARKET FORECAST REVENUE & FIGURE
      2. SEGMENT ANALYSIS
  8. MARKET BY BATTERY CAPACITY
    1. UP TO 48V
      1. MARKET FORECAST REVENUE & FIGURE
      2. SEGMENT ANALYSIS
    2. 48V TO 72V
      1. MARKET FORECAST REVENUE & FIGURE
      2. SEGMENT ANALYSIS
    3. MORE THAN 72V
      1. MARKET FORECAST REVENUE & FIGURE
      2. SEGMENT ANALYSIS
  9. MARKET BY END-USER
    1. RECREATIONAL
      1. MARKET FORECAST REVENUE & FIGURE
      2. SEGMENT ANALYSIS
    2. SPORTS
      1. MARKET FORECAST REVENUE & FIGURE
      2. SEGMENT ANALYSIS
    3. AGRICULTURE & UTILITY
      1. MARKET FORECAST REVENUE & FIGURE
      2. SEGMENT ANALYSIS
    4. MILITARY & DEFENSE
      1. MARKET FORECAST REVENUE & FIGURE
      2. SEGMENT ANALYSIS
    5. OTHER END-USERS
      1. MARKET FORECAST REVENUE & FIGURE
      2. SEGMENT ANALYSIS
  10. GEOGRAPHICAL ANALYSIS
    1. NORTH AMERICA
      1. MARKET SIZE & ESTIMATES
      2. NORTH AMERICA ELECTRIC ATV AND UTV MARKET DRIVERS
      3. NORTH AMERICA ELECTRIC ATV AND UTV MARKET CHALLENGES
      4. KEY PLAYERS IN NORTH AMERICA ELECTRIC ATV AND UTV MARKET
      5. COUNTRY ANALYSIS
        1. UNITED STATES
          1. UNITED STATES ELECTRIC ATV AND UTV MARKET SIZE & OPPORTUNITIES
        2. CANADA
          1. CANADA STATES ELECTRIC ATV AND UTV MARKET SIZE & OPPORTUNITIES
  11. COMPETITIVE LANDSCAPE
    1. KEY STRATEGIC DEVELOPMENTS
      1. PRODUCT LAUNCHES & DEVELOPMENTS
      2. PARTNERSHIPS & AGREEMENTS
      3. BUSINESS EXPANSIONS & DIVESTITURES
    2. COMPANY PROFILES
      1. BRP INC
        1. COMPANY OVERVIEW
        2. PRODUCT LIST
        3. STRENGTHS & CHALLENGES
      2. ECO CHARGER
        1. COMPANY OVERVIEW
        2. PRODUCT LIST
        3. STRENGTHS & CHALLENGES
      3. HISUN MOTORS CORPORATION
        1. COMPANY OVERVIEW
        2. PRODUCT LIST
        3. STRENGTHS & CHALLENGES
      4. HONDA MOTOR COMPANY LTD
        1. COMPANY OVERVIEW
        2. PRODUCT LIST
        3. STRENGTHS & CHALLENGES
      5. KAWASAKI HEAVY INDUSTRIES LTD
        1. COMPANY OVERVIEW
        2. PRODUCT LIST
        3. STRENGTHS & CHALLENGES
      6. POLARIS INC
        1. COMPANY OVERVIEW
        2. PRODUCT LIST
        3. STRENGTH & CHALLENGES
      7. SUZUKI MOTOR CORPORATION
        1. COMPANY OVERVIEW
        2. PRODUCT LIST
        3. STRENGTH & CHALLENGES
      8. TEXTRON INC (ARCTIC CAT)
        1. COMPANY OVERVIEW
        2. PRODUCT LIST
        3. STRENGTHS & CHALLENGES
      9. YAMAHA MOTOR CO LTD
        1. COMPANY OVERVIEW
        2. PRODUCT LIST
        3. STRENGTHS & CHALLENGES
      10. DRR USA
        1. COMPANY OVERVIEW
        2. PRODUCT LIST

LIST OF TABLES

TABLE 1: MARKET SNAPSHOT – ELECTRIC ATV AND UTV

TABLE 2: NORTH AMERICA ELECTRIC ATV AND UTV MARKET, BY VEHICLE TYPE, HISTORICAL YEARS, 2018-2022 (IN $ MILLION)

TABLE 3: NORTH AMERICA ELECTRIC ATV AND UTV MARKET, BY VEHICLE TYPE, FORECAST YEARS, 2024-2032 (IN $ MILLION)

TABLE 4: NORTH AMERICA ELECTRIC ATV AND UTV MARKET, BY PROPULSION TYPE, HISTORICAL YEARS, 2018-2022 (IN $ MILLION)

TABLE 5: NORTH AMERICA ELECTRIC ATV AND UTV MARKET, BY PROPULSION TYPE, FORECAST YEARS, 2024-2032 (IN $ MILLION)

TABLE 6: NORTH AMERICA ELECTRIC ATV AND UTV MARKET, BY DISPLACEMENT, HISTORICAL YEARS, 2018-2022 (IN $ MILLION)

TABLE 7: NORTH AMERICA ELECTRIC ATV AND UTV MARKET, BY DISPLACEMENT, FORECAST YEARS, 2024-2032 (IN $ MILLION)

TABLE 8: NORTH AMERICA ELECTRIC ATV AND UTV MARKET, BY BATTERY CAPACITY, HISTORICAL YEARS, 2018-2022 (IN $ MILLION)

TABLE 9: NORTH AMERICA ELECTRIC ATV AND UTV MARKET, BY BATTERY CAPACITY, FORECAST YEARS, 2024-2032 (IN $ MILLION)

TABLE 10: NORTH AMERICA ELECTRIC ATV AND UTV MARKET, BY END-USER, HISTORICAL YEARS, 2018-2022 (IN $ MILLION)

TABLE 11: NORTH AMERICA ELECTRIC ATV AND UTV MARKET, BY END-USER, FORECAST YEARS, 2024-2032 (IN $ MILLION)

TABLE 12: NORTH AMERICA ELECTRIC ATV AND UTV MARKET, BY COUNTRY, HISTORICAL YEARS, 2018-2022 (IN $ MILLION)

TABLE 13: NORTH AMERICA ELECTRIC ATV AND UTV MARKET, BY COUNTRY, FORECAST YEARS, 2024-2032 (IN $ MILLION)

TABLE 14: KEY PLAYERS OPERATING IN NORTH AMERICA ELECTRIC ATV AND UTV MARKET

TABLE 15: LIST OF PRODUCT LAUNCHES & DEVELOPMENTS

TABLE 16: LIST OF PARTNERSHIPS & AGREEMENTS

TABLE 17: 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 CONCENTRATION ANALYSIS

FIGURE 5: KEY BUYING CRITERIA

FIGURE 6: NORTH AMERICA ELECTRIC ATV AND UTV MARKET, GROWTH POTENTIAL, BY VEHICLE TYPE, IN 2023

FIGURE 7: NORTH AMERICA ELECTRIC ATV AND UTV MARKET, BY ATV, 2024-2032 (IN $ MILLION)

FIGURE 8: NORTH AMERICA ELECTRIC ATV AND UTV MARKET, BY UTV, 2024-2032 (IN $ MILLION)

FIGURE 9: NORTH AMERICA ELECTRIC ATV AND UTV MARKET, GROWTH POTENTIAL, BY PROPULSION TYPE, IN 2023

FIGURE 10: NORTH AMERICA ELECTRIC ATV AND UTV MARKET, BY BATTERY ELECTRIC ATV AND UTV, 2024-2032 (IN $ MILLION)

FIGURE 11: NORTH AMERICA ELECTRIC ATV AND UTV MARKET, BY HYBRID ELECTRIC ATV AND UTV, 2024-2032 (IN $ MILLION)

FIGURE 12: NORTH AMERICA ELECTRIC ATV AND UTV MARKET, GROWTH POTENTIAL, BY DISPLACEMENT, IN 2023

FIGURE 13: NORTH AMERICA ELECTRIC ATV AND UTV MARKET, BY ≤400 (CC), 2024-2032 (IN $ MILLION)

FIGURE 14: NORTH AMERICA ELECTRIC ATV AND UTV MARKET, BY 400-800 (CC), 2024-2032 (IN $ MILLION)

FIGURE 15: NORTH AMERICA ELECTRIC ATV AND UTV MARKET, BY ≥800 (CC), 2024-2032 (IN $ MILLION)

FIGURE 16: NORTH AMERICA ELECTRIC ATV AND UTV MARKET, GROWTH POTENTIAL, BY BATTERY CAPACITY, IN 2023

FIGURE 17: NORTH AMERICA ELECTRIC ATV AND UTV MARKET, BY UP TO 48V, 2024-2032 (IN $ MILLION)

FIGURE 18: NORTH AMERICA ELECTRIC ATV AND UTV MARKET, BY 48V TO 72V, 2024-2032 (IN $ MILLION)

FIGURE 19: NORTH AMERICA ELECTRIC ATV AND UTV MARKET, BY MORE THAN 72V, 2024-2032 (IN $ MILLION)

FIGURE 20: NORTH AMERICA ELECTRIC ATV AND UTV MARKET, GROWTH POTENTIAL, BY END-USER, IN 2023

FIGURE 21: NORTH AMERICA ELECTRIC ATV AND UTV MARKET, BY RECREATIONAL, 2024-2032 (IN $ MILLION)

FIGURE 22: NORTH AMERICA ELECTRIC ATV AND UTV MARKET, BY SPORTS, 2024-2032 (IN $ MILLION)

FIGURE 23: NORTH AMERICA ELECTRIC ATV AND UTV MARKET, BY AGRICULTURE & UTILITY, 2024-2032 (IN $ MILLION)

FIGURE 24: NORTH AMERICA ELECTRIC ATV AND UTV MARKET, BY MILITARY & DEFENSE, 2024-2032 (IN $ MILLION)

FIGURE 25: NORTH AMERICA ELECTRIC ATV AND UTV MARKET, BY OTHER END-USERS, 2024-2032 (IN $ MILLION)

FIGURE 26: NORTH AMERICA ELECTRIC ATV AND UTV MARKET, COUNTRY OUTLOOK, 2023 & 2032 (IN %)

FIGURE 27: UNITED STATES ELECTRIC ATV AND UTV MARKET, 2024-2032 (IN $ MILLION)

FIGURE 28: CANADA ELECTRIC ATV AND UTV MARKET, 2024-2032 (IN $ MILLION)

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