Global Electric All-Terrain Vehicle (ATV) and Utility-Terrain Vehicle (UTV) Market
Dublin, July 15, 2022 (GLOBE NEWSWIRE) -- The "Electric All-Terrain Vehicle (ATV) and Utility-Terrain Vehicle (UTV) Market - A Global and Regional Analysis: Focus on Product, Application and Trends - Analysis and Forecast, 2022-2031" report has been added to ResearchAndMarkets.com's offering. The global electric all-terrain vehicle (ATV) and utility-terrain vehicle (UTV) market was estimated to be at $680.4 million in 2021, which is expected to grow with a CAGR of 21.4% and reach $4,746.4 million by 2031. The growth in the global electric all-terrain vehicle (ATV) and utility-terrain vehicle (UTV) market is expected to be driven by the low cost of ownership of electric ATVs and UTVs, increasing ATV and UTV use in military and recreational activities, and rising global awareness to reduce greenhouse gas emissions.
All-terrain vehicles (ATVs) and utility-terrain vehicles (UTVs) are becoming increasingly popular in various applications around the world. The vehicles' capacity to operate through a variety of terrains has increased their popularity. ATVs and UTVs have conventionally been used for sports and recreation, with riders riding through various natural parks and hiking trails. These vehicles are also useful in various areas, including agriculture, shipping yards, and warehouses.
Moreover, electric drivetrain utilization in ATVs and UTVs has increased with the progress in-vehicle technology. Electric drivetrains were first used in low-speed vehicles, which were then used in various applications such as golf courses, hotels, and other recreational areas. The adoption of the electric drivetrain in additional applications of ATVs and UTVs, such as sports, utility, and military, will expand as vehicle battery technology improves to boost the vehicle's range and charging efficiency.
Impact of Electric All-Terrain Vehicle (ATV) and Utility-Terrain Vehicle (UTV) Market
An increase in EV safety requirements, increased demand for a better driving experience, and the low cost of maintenance for EVs contribute to the growing application areas for electric ATVs and UTVs. Furthermore, governments and federal agencies are making significant investments in subsidies and infrastructure development to promote electric vehicles to reduce carbon dioxide emissions, fuelling the growth of electric ATV and UTV sales.
Recent Developments in the Global Electric All-Terrain Vehicle (ATV) and Utility-Terrain Vehicle (UTV) Market
In December 2021, Tesla introduced its all-electric ATV quadbike called Cyberquad in partnership with Radio Flyer.
In February 2022, American Landmaster joined the electric UTV fray to provide electric-powered UTVs with a towing capacity of 1,200LBS in 2-door and 4-door versions in 4X2 driving mode.
In February 2022, Segway Powersports expanded the availability of Fugleman side-by-side to over 40 dealerships across the U.S.
Demand - Drivers and Limitations
Following are the demand drivers for the global electric all-terrain vehicle (ATV) and utility-terrain vehicle (UTV) market:
Low Cost of Ownership of Electric ATVs and UTVs
Low Noise Emissions from Electric ATVs and UTVs Improve their Applicability
Increasing Global Awareness to Reduce Greenhouse Gas Emissions
Increasing ATV and UTV Use in Military and Recreational Activities
Shifting Focus Toward Electric Variants
Following are the challenges for the global electric all-terrain vehicle (ATV) and utility-terrain vehicle (UTV) market:
Higher Retail Prices than Internal Combustion Engine ATVs and UTVs
Range Anxiety and Impact of High Battery Weight on Vehicle Performance
Impact of High Battery Weight on Vehicle's Performance
Key Market Players and Competition Synopsis
The companies that are profiled have been selected based on inputs gathered from primary experts, and analyzing company coverage, product portfolio, and market penetration.
Some of the prominent names established in this market are:
Electric All-Terrain Vehicle and Utility-Terrain Vehicle Manufacturers
Bombardier Recreational Products Inc. (BRP)
1 Markets 1.1 Industry Outlook 1.1.1 Trends and Factors Impacting the Global All-Terrain Vehicle (ATV) and Utility-Terrain Vehicle (UTV) Market 1.1.2 Trends: Industry Dynamics Defining the Future Trends of Global Electric All-Terrain Vehicle (ATV) and Utility-Terrain Vehicle (UTV) Market 1.1.3 Timeline for the Electric All-Terrain Vehicle (ATV) and Utility-Terrain Vehicle (UTV) 1.1.4 Supply Chain Network/MAP 1.1.4.1 Manufacturers 1.1.4.2 Distributors 1.1.4.3 Tier-1 Suppliers 1.1.5 Role of Conventional ATV and UTV Manufacturers 1.1.6 Industry Attractiveness: Porter's Five Forces Analysis 1.1.6.1 Threat of New Entrants 1.1.6.2 Bargaining Power of Buyers 1.1.6.3 Bargaining Power of Suppliers 1.1.6.4 Threat from Substitutes 1.1.6.5 Intensity of Competitive Rivalry 1.1.7 Ecosystem/Ongoing Programs 1.1.7.1 Consortiums, Associations, and Regulatory Bodies 1.1.7.2 Government Programs 1.2 Business Dynamics 1.2.1 Business Drivers 1.2.1.1 Low Cost of Ownership of Electric ATVs and UTVs 1.2.1.2 Low Noise Emissions from Electric ATVs and UTVs Improve their Applicability 1.2.1.3 Increasing Global Awareness to Reduce Greenhouse Gas Emissions 1.2.1.4 Increasing ATV and UTV Use in Military and Recreational Activities 1.2.1.5 Shifting Focus Toward Electric Variants 1.2.2 Business Challenges 1.2.2.1 Higher Retail Prices than Internal Combustion Engine ATVs and UTVs 1.2.2.2 Range Anxiety and Impact of High Battery Weight on Vehicle Performance 1.2.2.3 Impact of High Battery Weight on Vehicle's Performance 1.2.3 Business Strategies 1.2.3.1 Product Development 1.2.3.2 Market Development 1.2.4 Corporate Strategies 1.2.4.1 Mergers and Acquisitions 1.2.4.2 Partnerships, Collaborations, and Joint Ventures 1.2.5 Business Opportunities 1.2.5.1 Development of Amphibious Terrain Vehicles 1.2.5.2 Development of Autonomous ATVs and UTVs 1.2.5.3 Capitalizing on the Micro Mobility Trend 1.2.5.4 Focus on Lithium Iron Phosphate Batteries 1.3 Case Study of Global Electric ATV and UTV Market 1.3.1 Business Model Analysis 1.3.2 Identifying the Best Site to Manufacture Product within the U.S. 1.4 Perval Scale Analysis for Consumer Perception of Electric ATV and UTV 1.5 Key Applications Where Electric ATVs and UTVs Find a Serviceable Market 1.6 Start-Up Landscape 1.6.1 Key Start-Ups in the Ecosystem 1.6.2 Top Innovations 1.6.2.1 Innovation Opportunities
2 Application 2.1 Global Conventional All-Terrain Vehicle (ATV) and Utility-Terrain Vehicle (UTV) Market - Applications and Specifications 2.1.1 Global Conventional All-Terrain Vehicle (ATV) and Utility-Terrain Vehicle (UTV) Market (by Application) 2.1.1.1 Professional Sports 2.1.1.2 Recreational 2.1.1.3 Agriculture and Utility 2.1.1.4 Military and Defense 2.1.1.5 Others 2.2 Global Electric All-Terrain Vehicle (ATV) and Utility-Terrain Vehicle (UTV) - Applications and Specifications 2.2.1 Global Electric All-Terrain Vehicle (ATV) and Utility-Terrain Vehicle (UTV) Market (by Application) 2.2.1.1 Professional Sports 2.2.1.2 Recreational 2.2.1.3 Agriculture 2.2.1.4 Military and Defense 2.2.1.5 Others 2.3 Demand Analysis of the Global Conventional All-Terrain Vehicle (ATV) and Utility-Terrain Vehicle (UTV) Market (by Application) 2.3.1 Demand Analysis of the Global Conventional All-Terrain Vehicle (ATV) and Utility-Terrain Vehicle (UTV) Market (by Application), $Million and Thousand Unit, 2021-2031 2.3.1.1 Professional Sports 2.3.1.2 Recreation 2.3.1.3 Agriculture and Utility 2.3.1.4 Military and Defense 2.3.1.5 Others 2.4 Demand Analysis of the Global Electric All-Terrain Vehicle (ATV) and Utility-Terrain Vehicle (UTV) Market (by Application) 2.4.1 Demand Analysis of the Global Electric All-Terrain Vehicle (ATV) and Utility-Terrain Vehicle (UTV) Market (by Application), $Million and Thousand Unit 2.4.1.1 Professional Sports 2.4.1.2 Recreation 2.4.1.3 Agriculture and Utility 2.4.1.4 Military and Defense 2.4.1.5 Others 2.5 Analyst's PoV and Recommendation
3 Products 3.1 Global Conventional All-Terrain Vehicle (ATV) and Utility-Terrain Vehicle (UTV) Market - Products and Specifications 3.1.1 Global Conventional All-Terrain Vehicle (ATV) and Utility-Terrain Vehicle (UTV) Market (by Product) 3.1.1.1 All-Terrain Vehicle (ATV) 3.1.1.2 Utility-Terrain Vehicles (UTV) 3.2 Demand Analysis of the Global Conventional All-Terrain Vehicle (ATV) and Utility-Terrain Vehicle (UTV) Market (by Product) 3.2.1 Demand Analysis of the Global Conventional All-Terrain Vehicle (ATV) and Utility-Terrain Vehicle (UTV) Market (by Product) 3.2.1.1 All-Terrain Vehicle (ATV) 3.2.1.2 Utility-Terrain Vehicle (UTV) 3.3 Global Electric All-Terrain Vehicle (ATV) and Utility-Terrain Vehicle (UTV) Market - Products and Specifications 3.3.1 Global Electric All-Terrain Vehicle (ATV) and Utility-Terrain Vehicle (UTV) Market (by Propulsion Type) 3.3.1.1 Battery Electric ATVs and UTVs 3.3.1.2 Hybrid Electric ATVs and UTVs 3.4 Demand Analysis of Global Electric All-Terrain Vehicle (ATV) and Utility-Terrain Vehicle (UTV) Market (by Product) 3.4.1 Demand Analysis of Global Electric All-Terrain Vehicle (ATV) and Utility-Terrain Vehicle (UTV) Market (by Propulsion Type), $Million and Thousand Unit 3.4.1.1 Battery Electric ATVs and UTVs 3.4.1.2 Hybrid Electric ATVs and UTVs 3.4.2 Global Electric All-Terrain Vehicle (ATV) and Utility-Terrain Vehicle (UTV) Market (by Drivetrain Type) 3.4.2.1 Two-Wheel Drive (2WD) 3.4.2.2 Four-Wheel Drive (4WD) 3.4.2.3 All-Wheel Drive (AWD) 3.4.3 Global Electric All-Terrain Vehicle (ATV) and Utility-Terrain Vehicle (UTV) Market (by Engine Size) 3.4.3.1 Less than 400 CC 3.4.3.2 400 CC to 800 CC 3.4.3.3 More than 800 CC 3.4.4 Global Electric All-Terrain Vehicle (ATV) and Utility-Terrain Vehicle (UTV) Market (by Battery Capacity) 3.4.4.1 Up to 48V 3.4.4.2 48V to 72V 3.4.4.3 More than 72V 3.4.5 Global Electric All-Terrain Vehicle (ATV) and Utility-Terrain Vehicle (UTV) Market (by Number of Wheels) 3.4.5.1 Four-Wheeled ATVs and UTVs 3.4.5.2 More than Four-Wheeled ATVs and UTVs 3.4.6 Global Electric All-Terrain Vehicle (ATV) and Utility-Terrain Vehicle (UTV) Market (by Seating Capacity) 3.4.6.1 One-Seater ATVs and UTVs 3.4.6.2 Two-Seater ATVs and UTVs 3.4.6.3 More than Two-Seater ATVs and UTVs 3.5 Product Benchmarking: Growth Rate - Market Share Matrix 3.5.1 Opportunity Matrix (by Region) 3.5.2 Opportunity Matrix (by Application) 3.6 Key Patents 3.7 Global Pricing Analysis 3.8 Technology Roadmap 3.9 Comparative Analysis of All-Terrain Vehicles (ATVs) and Utility-Terrain Vehicles (UTVs): Electric vs. Internal Combustion Engine 3.1 Analyst's PoV and Recommendation
5 Markets - Competitive Benchmarking & Company Profiles 5.1 Competitive Benchmarking 5.1.1 Competitive Position Matrix 5.1.1.1 ATVs and UTVs 5.1.1.2 Electric ATVs and UTVs 5.1.2 Market Share Analysis 5.1.2.1 ATVs and UTVs 5.1.2.2 Electric ATVs and UTVs 5.2 Product Matrix 5.3 Company Profiles
For more information about this report visit https://www.researchandmarkets.com/r/eoz4rw
Global Electric All-Terrain Vehicle (ATV) and Utility-Terrain Vehicle (UTV) Market
Q.: My wife inherited a 401(k) from my mom who died recently. Assuming this is a traditional 401(k), you are correct that whatever comes out of the account will be likely be taxable to you. Transfer your wife’s share of the money to an Inherited 401(k) with the company that held your mom’s 401(k).
This money management maven doesn't mince words when it comes to what you shouldn’t be doing with your money.
Anthony Scaramucci, the short-lived White House communications director under Donald Trump, is a bitcoin evangelist.
(Bloomberg) -- The housing market correction that’s taking hold in Canada could turn out to be its biggest in recent history, according to a new forecast from the country’s largest bank.Most Read from BloombergRussian Odesa Missile Strike Tests Day-Old Grain Export DealThree Arrows Founders Break Silence Over Collapse of Crypto Hedge FundTesla’s Bitcoin Dump Leaves Accounting Mystery in Its WakeStudent Loan Borrowers Aren’t Waiting for Biden’s Promised ReliefTrump Insiders Recall How He Spurned
An unprecedented crisis of confidence has affected the crypto industry for several months. The fall of the two digital currencies was caused by the fact that many investors wanted to liquidate their positions at the same time. A month later, the crypto lender Celsius Network, which operates like a bank, announced that it was suspending withdrawals, thus preventing its customers from having access to their money.
Verizon stock is moving lower after an earnings miss and dip in wireless subscriber growth.
These remarkable growth stocks are begging to be bought following a peak decline of 34% in the Nasdaq.
Fed’s zigzagging policies could ultimately lead to an outcome similar to what happened in its fight against inflation four decades ago.
Warren Buffett has accumulated a nearly 20% stake in Occidental Petroleum over the last several months. So: what's the Oracle of Omaha's endgame?
In a year, Nio's (NYSE: NIO) stock price has fallen more than 50%. Investors are concerned about Nio's slower growth due mainly to supply chain challenges, as well as the resurgence of COVID-19 cases in China. Then there is the short seller's report accusing Nio of overstating its revenue.
Shares in Google's parent company just got a whole lot cheaper (in price, not valuation). Is it time to buy?
We’re supposed to be energy independent. What gives?
With inflation at a 40-year high, these inflation-protected securities are an appealing alternative to ordinary Treasuries. What to buy, and how.
Britney Spears sparked concern among fans after she shared not one but 11 nude photos in an hour on Instagram on Thursday. The 40-year-old recently landed in London, and it wasn’t long before she made herself at home in her hotel room by stripping down to her thong. The Toxic hitmaker then uploaded a series of skin-flashing photos and videos of her posing on her hotel bed in her underwear to social media.
Everyone knows that chasing violent storms is risky for your life. But it turns out that yield chasing in the S&P 500 can be risky for your money.
A summer rebound is stirring hopes the stock-market has seen its lows. The Fed could spoil the party.
In this article, we discuss the 10 stocks that Jim Cramer is talking about. If you want to read about some more stocks that Jim Cramer is talking about, go directly to Jim Cramer Is Talking About These 5 Stocks. Recession fears in the United States have reached fever pitch as even veteran stock market […]
Yahoo Finance markets reporter Alexandra Semenova details the surge in short interests on EV developer Tesla.
Verizon is set for its worst week since October 2008, but it's sitting on must-hold support right now.
‘I sit here day after day, doing the same old drudgery, and I want to have some hope that I may have an exit strategy.’