Electric All-Terrain Vehicle (ATV) and Utility All-Terrain Vehicle (UTV) Market to Reach $4.74 Billion by 2031, According to Research by BIS Research

FREMONT, Calif., July 1, 2022 /PRNewswire/ — The global market for all-terrain electric vehicles (ATVs) and all-terrain utility vehicles (UTVs) is expected to reach $4.74 billion in terms of revenue by 2031, at a CAGR of 21.4%, suggests BIS Research’s premium study.

All Terrain Vehicles (ATVs) and All Terrain Utility Vehicles (UTVs) are becoming increasingly popular in various applications around the world. The ability of the vehicles to operate in a variety of terrains has increased their popularity.

An increase in electric vehicle safety requirements, increased demand for a better driving experience, and the low maintenance cost of electric vehicles are contributing to the growth of application areas for electric ATVs and UTVs. Additionally, governments and federal agencies are investing heavily in subsidies and infrastructure development to promote electric vehicles to reduce carbon dioxide emissions, fueling growth in sales of electric ATVs and UTVs.

The detailed study is a compilation of 161 market data tables and 95 figures spread over 275 pages and an in-depth TOC on “Global Electric All-Terrain Vehicles (ATVs) and Off-Road Utility Vehicles Market ( UTV) – Analysis and forecast, 2022- 2031”

Demand – Drivers and Limits

Following are the demand drivers for the global electric ATV and UTV market:

  • Low cost of ownership of electric ATVs and UTVs.
  • The low noise emissions of electric ATVs and UTVs enhance their applicability.
  • Increase global awareness of reducing greenhouse gas emissions.
  • Increased use of ATVs and UTVs in military and recreational activities.
  • Focus on electric variants.

The market is also expected to face some limitations owing to the following challenges:

  • Higher retail prices than comparable internal combustion engine ATVs and UTVs.
  • Range anxiety and impact of high battery weight on vehicle performance.
  • Impact of high battery weight on vehicle performance.

Reasons to buy this report

This exclusive Global Electric ATV and UTV Market Report will help you in the following ways:

  • A dedicated section focusing on current as well as futuristic trends embraced by major players operating in the global Electric All-Terrain Vehicles (ATVs) and Off-Road Utility Vehicles (UTVs) Market.
  • The in-depth competitive benchmarking of the 15 players provides a holistic view of the global Electric All-Terrain Vehicle (ATV) and All-Terrain Utility Vehicle (UTV) market landscape.
  • Qualitative and quantitative analysis of the global Electric All-Terrain Vehicles (ATVs) and Utility All-Terrain Vehicles (UTVs) Market at regional and country level and granularity by application and product segments.

Market Analyst’s View:

According Dhrubajyoti NarayanSenior Analyst, BIS ResearchAccording to the American National Standards Institute, an ATV is a vehicle with operator-straddling seats and steering wheel handlebars that operate on low-pressure tires and is designed to climb a wider range of terrain than most. other commercially available vehicles. Several major manufacturers of electric ATVs and UTVs have released electric variants of their products. The market for electric ATVs and UTVs is expected to grow as governments around the world begin to implement strategies to increase electric vehicle sales and phase out combustion engine vehicles in their countries.

See the report in the global market for electric ATVs and UTVs

Key Companies Operating in the Market and Competitive Landscape

The profiled companies have been selected based on input gathered from leading experts and analysis of company coverage, product portfolio and market penetration.

Some of the most prominent established names in this market are:

  • Electric off-road vehicle manufacturers
    • CFMOTO
    • DRR UNITED STATES
    • Eco Charger
    • Tesla, Inc.
  • Off-road electric utility vehicle manufacturers
    • Arctic Cat, Inc.
    • HISUN Motors Corporation
    • Honda Motor Co., Ltd.
    • John Deere
    • American Landmaster
    • bully utv
    • Polaris Industries Inc.
    • Club Car, LLC
  • Manufacturers of off-road electric vehicles and off-road utility vehicles
    • Bombardier Recreational Products Inc. (BRP)
    • LINHAI Group Co., Ltd.
    • Segway Technology Co., Ltd.

Companies that are not part of the above pool have been well represented in the various sections of the report (where applicable).

Who should buy this report?

Companies that manufacture and market all-terrain electric vehicles (ATVs) and all-terrain utility vehicles (UTVs), research institutes and regulatory bodies should purchase this report.

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Key questions answered by the report:

  • What are some of the major drivers and trends impacting the Electric ATV and UTV market?
  • What are some of the key revolutions impacting the Electric ATV and UTV market?
  • What has been the impact of COVID-19 on the electric ATV and UTV market across the globe, and how are ecosystem players improvising/innovating to mitigate the impact?
  • What are the main production technologies and end-use sectors in the market, and how will they perform in the coming years?
  • For a new company looking to enter the electric ATV and UTV market, what areas could it focus on to stay ahead of the existing competition?
  • What kinds of new strategies are being adopted by existing market players to strengthen their market position in the industry?

About BIS Research:

BIS Research is a global B2B market intelligence and advisory firm focused on deep technologies and related emerging trends that may disrupt market dynamics in the near future. We publish over 200 market intelligence studies annually that focus on multiple deep technology verticals.

Our strategic market analysis emphasizes market estimates, technology analysis, high growth emerging applications, deeply segmented country-level granular market data, and other significant market parameters helpful in making strategic decision making for senior management.

BIS Research offers group studies as well as custom studies and expert consultations to companies, providing them with specific and actionable insights into new technology markets, business models and the competitive landscape.

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SOURCE BIS Research

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