Market by Vehicle Type, Displacement, Propulsion, Battery Capacity, End-user, and Country Outlook | Forecast 2024-2032
Triton’s report infers that the electric ATV and UTV market in Latin America is anticipated to surge at a CAGR of 11.50% during the forecast period 2024-2032.
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The countries in the studied region include:
• Brazil
• Mexico
• Rest
of Latin America
Presently, the electric ATV and UTV
market lacks popularity in the region, primarily attributed to the absence of
adequate charging infrastructure and a general unawareness of these vehicles.
However, anticipations suggest a notable upswing in the ATV and UTV market in
Latin America in the forthcoming years, propelled by the increasing prevalence
of off-road leisure activities. Moreover, the presence of government
regulations geared towards boosting the on-road demand for ATV/UTVs further
highlights this potential growth.
A key consideration is the
introduction of numerous new models, coupled with the rising affinity of the
younger population towards all-terrain vehicles, which is poised to drive the
demand for electric quad bikes in the region.
Mexico leads with the majority share in the electric ATV and UTV
market. The
popularity of ATVs and UTVs in Mexico has surged, primarily driven by their
utility in agricultural pursuits. Initially prohibited from operating on public
roads, a shift in government policy has authorized their use on common
thoroughfares. This legal adjustment has facilitated the transportation of
ranchers and farmers to their fields via paved roads. The governmental
endorsement and widespread product accessibility have resulted in a notable
upswing in demand for ATVs and UTVs, consequently expanding the market’s scope
across Mexico.
All-terrain vehicles (ATVs) are
motorized off-highway vehicles specifically engineered to traverse diverse
terrains using four non-pneumatic or low-pressure tires. They feature a seating
arrangement for the operator to straddle, accompanied by handlebars for
steering control. ATVs are commonly classified into two types: Type I and Type
II. The segments of the market include
vehicle type, propulsion, displacement, battery capacity, and end-user. The vehicle type is bifurcated
into ATV and UTV.
The notable companies consist of Deere and Company, BRP Inc,
CFMoto, Honda Motor Company Ltd, Polaris Inc, and Textron Inc (Artic Cat).
Based in the US, Deere and Company
is a prominent manufacturer specializing in agricultural and forestry
machinery, heavy equipment, engines, and transmissions. With a diverse
portfolio encompassing over 25 brands, the company delivers a comprehensive range
of inventive solutions for consumers. It maintains a robust global presence,
operating in over 30 countries with a network of factories, offices, and other
facilities.
KEY DELIVERABLES OF THE REPORT:
●
Market CAGR during the forecasting years 2023-2030
●
Detailed data highlighting key insights, industry components, and
market strategies
●
Comprehensive information and estimation of the electric ATV and UTV
market revenue growth in Latin America and its influence on the parent market
●
In-depth study of forthcoming trends in consumer behavioral
patterns
●
A meticulous analysis of the competitive landscape, vendor
scorecard, and Porter’s Five Forces
●
A wide-ranging study of factors that will challenge the Latin
America electric ATV and
UTV market’s growth during the upcoming years
Want to get specific insights? Our team of
analysts can customize this report based on your preferences. Connect with us here.
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VIEW REPORT1. LATIN
AMERICA ELECTRIC ATV AND UTV MARKET – SUMMARY
2. INDUSTRY
OUTLOOK
2.1. IMPACT
OF COVID-19 ON THE ELECTRIC ATV AND UTV MARKET
2.2. PORTER’S
FIVE FORCES ANALYSIS
2.2.1. THREAT
OF NEW ENTRANTS
2.2.2. THREAT
OF SUBSTITUTES
2.2.3. BARGAINING
POWER OF SUPPLIERS
2.2.4. BARGAINING
POWER OF BUYERS
2.2.5. THREAT
OF COMPETITIVE RIVALRY
2.3. KEY
BUYING IMPACT ANALYSIS
2.4. KEY
MARKET STRATEGIES
2.4.1. CONTRACTS
AND PARTNERSHIPS
2.4.2. BUSINESS
EXPANSION AND DIVESTITURE
2.4.3. NEW
PRODUCT LAUNCHES
2.4.4. ACQUISITION
2.5. MARKET
DRIVERS
2.5.1. LOWER
NOISE EMISSIONS FROM ELECTRIC ATVS AND UTVS
2.5.2. GROWING
ENVIRONMENTAL CONCERNS EXPECTED TO FUEL ELECTRIC VARIANTS DEMAND
2.6. MARKET
CHALLENGES
2.6.1. VEHICLE
RANGE AND BATTERY WEIGHT CONCERN
2.6.2. HIGH
PURCHASE COST
2.7. ANALYST
PERSPECTIVE
3. LATIN
AMERICA ELECTRIC ATV AND UTV MARKET – BY VEHICLE TYPE
3.1. ATV
3.2. UTV
4. LATIN
AMERICA ELECTRIC ATV AND UTV MARKET - BY DISPLACEMENT
4.1. ≤
400 (CC)
4.2. 400-800(CC)
4.3. ≥
800 (CC)
5. LATIN
AMERICA ELECTRIC ATV AND UTV MARKET - BY PROPULSION
5.1. BATTERY
ELECTRIC
5.2. HYBRID
6. LATIN
AMERICA ELECTRIC ATV AND UTV MARKET - BY BATTERY CAPACITY
6.1. UP
TO 48V
6.2. 48V
TO 72V
6.3. ABOVE
72V
7. LATIN
AMERICA ELECTRIC ATV AND UTV MARKET - BY END-USER
7.1. RECREATIONAL
7.2. SPORTS
7.3. AGRICULTURE
& UTILITY
7.4. MILITARY
& DEFENSE
7.5. OTHER
END-USERS
8. LATIN
AMERICA ELECTRIC ATV AND UTV MARKET – BY COUNTRY OUTLOOK
8.1. BRAZIL
8.2. MEXICO
8.3. REST
OF LATIN AMERICA
9. COMPETITIVE
LANDSCAPE
9.1. BRP
INC
9.1.1. OVERVIEW
9.1.2. PRODUCT
PORTFOLIO
9.1.3. STRENGTHS
9.1.4. CHALLENGE
9.2. CFMOTO
9.2.1. OVERVIEW
9.2.2. PRODUCT
PORTFOLIO
9.2.3. STRENGTHS
9.2.4. CHALLENGE
9.3. DEERE
AND COMPANY
9.3.1. OVERVIEW
9.3.2. PRODUCT
PORTFOLIO
9.3.3. STRENGTHS
9.3.4. CHALLENGE
9.4. HISUN
MOTORS CORPORATION USA
9.4.1. OVERVIEW
9.4.2. PRODUCT
PORTFOLIO
9.4.3. STRENGTHS
9.4.4. CHALLENGE
9.5. HONDA
MOTOR COMPANY LTD
9.5.1. OVERVIEW
9.5.2. PRODUCT
PORTFOLIO
9.5.3. STRENGTHS
9.5.4. CHALLENGE
9.6. KAWASAKI
HEAVY INDUSTRIES LTD
9.6.1. OVERVIEW
9.6.2. PRODUCT
PORTFOLIO
9.6.3. STRENGTHS
9.6.4. CHALLENGE
9.7. POLARIS
INC
9.7.1. OVERVIEW
9.7.2. PRODUCT
PORTFOLIO
9.7.3. STRENGTHS
9.7.4. CHALLENGE
9.8. SUZUKI
MOTORS CORPORATION
9.8.1. OVERVIEW
9.8.2. PRODUCT
PORTFOLIO
9.8.3. STRENGTHS
9.8.4. CHALLENGE
9.9. TEXTRON
INC (ARTIC CAT)
9.9.1. OVERVIEW
9.9.2. PRODUCT
PORTFOLIO
9.9.3. STRENGTHS
9.9.4. CHALLENGE
9.10. YAMAHA
MOTOR CO LTD
9.10.1. OVERVIEW
9.10.2. PRODUCT
PORTFOLIO
9.10.3. STRENGTHS
9.10.4. CHALLENGE
9.11. DRR
USA
9.11.1. OVERVIEW
9.11.2. PRODUCT
PORTFOLIO
10. RESEARCH
METHODOLOGY & SCOPE
10.1. RESEARCH
SCOPE & DELIVERABLES
10.1.1. OBJECTIVES
OF STUDY
10.1.2. SCOPE
OF STUDY
10.2. SOURCES
OF DATA
10.2.1. PRIMARY
DATA SOURCES
10.2.2. SECONDARY
DATA SOURCES
10.3. RESEARCH
METHODOLOGY
10.3.1. EVALUATION
OF THE PROPOSED MARKET
10.3.2. IDENTIFICATION
OF DATA SOURCES
10.3.3. ASSESSMENT
OF MARKET DETERMINANTS
10.3.4. DATA
COLLECTION
10.3.5. DATA
VALIDATION & ANALYSIS
TABLE 1: LATIN AMERICA ELECTRIC
ATV AND UTV MARKET, BY COUNTRY OUTLOOK, 2024-2032 (IN $ MILLION)
TABLE 2: LIST OF CONTRACTS AND
PARTNERSHIPS
TABLE 3: LIST OF BUSINESS
EXPANSION AND DIVESTITURE
TABLE 4: LIST OF NEW PRODUCT
LAUNCHES
TABLE 5: LATIN AMERICA ELECTRIC
ATV AND UTV MARKET, BY VEHICLE TYPE, 2024-2032 (IN $ MILLION)
TABLE 6: LATIN AMERICA ELECTRIC
ATV AND UTV MARKET, BY DISPLACEMENT, 2024-2032 (IN $ MILLION)
TABLE 7: LATIN AMERICA ELECTRIC
ATV AND UTV MARKET, BY PROPULSION, 2024-2032 (IN $ MILLION)
TABLE 8: LATIN AMERICA ELECTRIC
ATV AND UTV MARKET, BY BATTERY CAPACITY, 2024-2032 (IN $ MILLION)
TABLE 9: LATIN AMERICA ELECTRIC
ATV AND UTV MARKET, BY END-USER, 2024-2032 (IN $ MILLION)
FIGURE 1: PORTER’S FIVE FORCES ANALYSIS
FIGURE 2: KEY BUYING IMPACT ANALYSIS
FIGURE 3: LATIN AMERICA ELECTRIC ATV AND UTV MARKET, BY VEHICLE TYPE,
2023 & 2032 (IN %)
FIGURE 4: LATIN AMERICA ELECTRIC ATV AND UTV MARKET, BY ATV, 2024-2032
(IN $ MILLION)
FIGURE 5: LATIN AMERICA ELECTRIC ATV AND UTV MARKET, BY UTV, 2024-2032
(IN $ MILLION)
FIGURE 6: LATIN AMERICA ELECTRIC ATV AND UTV MARKET, BY DISPLACEMENT,
2023 & 2032 (IN %)
FIGURE 7: LATIN AMERICA ELECTRIC ATV AND UTV MARKET, BY ≤ 400 (CC),
2024-2032 (IN $ MILLION)
FIGURE 8: LATIN AMERICA ELECTRIC ATV AND UTV MARKET, BY 400-800(CC),
2024-2032 (IN $ MILLION)
FIGURE 9: LATIN AMERICA ELECTRIC ATV AND UTV MARKET, BY ≥ 800 (CC),
2024-2032 (IN $ MILLION)
FIGURE 10: LATIN AMERICA ELECTRIC ATV AND UTV MARKET, BY PROPULSION, 2023
& 2032 (IN %)
FIGURE 11: LATIN AMERICA ELECTRIC ATV AND UTV MARKET, BY BATTERY
ELECTRIC, 2024-2032 (IN $ MILLION)
FIGURE 12: LATIN AMERICA ELECTRIC ATV AND UTV MARKET, BY HYBRID,
2024-2032 (IN $ MILLION)
FIGURE 13: LATIN AMERICA ELECTRIC ATV AND UTV MARKET, BY BATTERY
CAPACITY, 2023 & 2032 (IN %)
FIGURE 14: LATIN AMERICA ELECTRIC ATV AND UTV MARKET, BY UP TO 48V,
2024-2032 (IN $ MILLION)
FIGURE 15: LATIN AMERICA ELECTRIC ATV AND UTV MARKET, BY 48V TO 72V,
2024-2032 (IN $ MILLION)
FIGURE 16: LATIN AMERICA ELECTRIC ATV AND UTV MARKET, BY ABOVE 72V,
2024-2032 (IN $ MILLION)
FIGURE 17: LATIN AMERICA ELECTRIC ATV AND UTV MARKET, BY END-USER, 2023
& 2032 (IN %)
FIGURE 18: LATIN AMERICA ELECTRIC ATV AND UTV MARKET, BY RECREATIONAL,
2024-2032 (IN $ MILLION)
FIGURE 19: LATIN AMERICA ELECTRIC ATV AND UTV MARKET, BY SPORTS,
2024-2032 (IN $ MILLION)
FIGURE 20: LATIN AMERICA ELECTRIC ATV AND UTV MARKET, BY AGRICULTURE
& UTILITY, 2024-2032 (IN $ MILLION)
FIGURE 21: LATIN AMERICA ELECTRIC ATV AND UTV MARKET, BY MILITARY &
DEFENSE, 2024-2032 (IN $ MILLION)
FIGURE 22: LATIN AMERICA ELECTRIC ATV AND UTV MARKET, BY OTHER END-USERS,
2024-2032 (IN $ MILLION)
FIGURE 23: BRAZIL ELECTRIC ATV AND UTV MARKET 2024-2032 (IN $ MILLION)
FIGURE 24: MEXICO ELECTRIC ATV AND UTV MARKET 2024-2032 (IN $ MILLION)
FIGURE 25: REST OF LATIN AMERICA ELECTRIC ATV AND UTV MARKET 2024-2032
(IN $ MILLION)