North America ATV and UTV Market Size

North America ATV & UTV Market Analysis

The North American ATV and UTV Market size is expected to grow from USD 8.52 billion in the current year to USD 13.6 billion over five years, registering a CAGR of 7.64% during the forecast period.

Over the long term, the growing trend of adventure sports and recreational activities and an increase in demand for ATVs and UTVs in military activities are expected to drive the growth of the market. Further, as most ATVs and UTVs are not permitted to be operatable on highways and other main roads, government authorities across the region increased the budgetary allocations to build new off-road trails. It may be helpful for recreational enthusiasts and boost adventure sports activities in the region. Such factors are likely to support the growth of the market in the next five years.

Earlier, ATVs and UTVs were majorly associated with sports and recreational activities. However, over time, the application of these vehicles diversified. They are now being used in the agricultural sector and for patrolling, hunting, gardening, and other activities. The United States is expected to lead the market, followed by Canada and Mexico, in the coming years due to government initiatives, new laws regarding ATVs and UTVs, and subsidies. For instance,

• In November 2022, the Burlington City Council unanimously approved the final reading of an ordinance allowing the use of golf carts, ATVs, and UTVs within city limits. The US Army showed interest in acquiring ATVs with features such as rapid transportation capabilities, the ability to carry nine fully armed soldiers, agility, and a minimum of 55 mph.

The demand for ATVs is growing rapidly in the region, as new testing guidelines and stringent regulatory overviews may lead to the incorporation of more safety features in new off-road vehicles. It is expected to boost the growth potential of the market.