UNITED STATES ELECTRIC ATV AND UTV MARKET FORECAST 2024-2032

The United States electric ATV and UTV market segmentation includes end-user, displacement, propulsion type, battery capacity, and vehicle type. The propulsion type segment includes hybrid electric ATV and UTV and battery electric ATV and UTV.

Hybrid electric ATVs and UTVs, as implied by their name, are vehicles that combine an internal combustion engine with one or more battery-electric propulsion systems for operation. With an electric powertrain, hybrid ATVs and UTVs deliver superior performance compared to their internal combustion engine (ICE) counterparts. These vehicles can take advantage of regenerative braking, ensuring that energy released during deceleration or braking is not wasted but instead used to recharge the vehicle’s battery power source. The pure electric vehicle mode proves highly beneficial in scenarios like hunting, where a silent operation is preferred, alleviating range anxiety issues associated with electric ATVs and UTVs and enhancing the overall riding experience.

Furthermore, riders have the flexibility to switch between hybrid and pure electric modes based on power requirements and the nature of the terrain. Although the ATV and UTV industry has not witnessed an abundance of hybrid electric variants, some companies have launched or are in the process of developing hybrid-electric ATVs and UTVs. Segway Technology Co., Ltd. offers ATVs with a hybrid powertrain capable of operating in both hybrid and pure electric vehicle modes. As part of its electrification strategy, Polaris Inc. is actively engaged in the development of hybrid electric UTVs.

Some of the key companies operating in the United States electric ATV and UTV market are BRP Inc, Honda Motor Company Ltd, Hisun Motors Corporation, etc.

BRP Inc (BRP) is engaged in the design, development, manufacturing, and sale of powersports vehicles for year-round and seasonal use, as well as original equipment manufacturer (OEM) engines, marine propulsion systems, and engines designed for karts, motorcycles, and small aircraft. Additionally, the company provides parts, accessories, and clothing. BRP markets its diverse range of products under various brand names such as Can-Am On-Road, Lynx, Sea-Doo, Rotax, Evinrude, Ski-Doo, Alumacraft, Can-Am Off-Road, Manitou, and Telwater. The company operates manufacturing facilities in Canada, Mexico, the US, Finland, and Austria and maintains a global dealer network. BRP’s headquarters are located in Valcourt, Quebec, Canada.