Market by Vehicle Type, Displacement, Propulsion, Battery Capacity, End-user, and Country Outlook | Forecast 2024-2032
Triton’s report estimated the electric ATV and UTV market in North America to witness revenue growth at a CAGR of 12.20% over the forecast period 2024-2032.
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The countries reviewed in the region include:
• United
States
• Canada
North America remains the dominant
region in the global electric ATV and UTV market. Traditionally associated with
sports and leisure, ATVs and UTVs in the region have expanded their
applications, utilized in agriculture, mountaineering, military, gardening,
hunting, etc. Manufacturers are actively working to promote the adoption of
these electric vehicles. Legislative initiatives propose the utilization of
licensing funds to enhance off-road connectivity, promising a substantial
increase in aftermarket demand.
The United States holds the highest share in the
studied market. Due to safety concerns, ATVs and
UTVs are typically prohibited from operating on public highways and major
roads. Government entities have increasingly endorsed the creation of off-road
trails to cater to outdoor enthusiasts and enhance the nation’s adventure
sports infrastructure.
Further, the increasing utilization
of quad bikes in military operations in the US is driven by their enhanced
mobility, proving advantageous for tactical maneuvers. Also, their superior
flexibility and navigational capabilities contribute to providing precise
guidance to operators. The market’s growth aligns with the growing prevalence
of off-road leisure activities in the country.
In Canada, the electric ATV and UTV
market presently lacks popularity, primarily attributable to a general lack of
awareness. Nevertheless, the potential for an upward trend in demand exists,
driven by the increasing prevalence of off-road leisure activities.
Over the years, there has been a
notable increase in the demand for ATVs and UTVs within military forces. This
surge can be attributed to the heightened responsiveness and mobility that
these vehicles provide to ground troops. The compact size of these quad bikes,
relative to other military vehicles, allows for their transportation within
military aircraft. This facilitates their deployment by air, enabling smaller
units to swiftly reach the battlefield or conduct rapid reconnaissance patrols.
The market is segmented based on end-user, vehicle type,
propulsion, battery capacity, and displacement. The end-user category includes
military & defense, sports, recreational, agriculture & utility, and other end-users.
The leading market players in the ophthalmic drugs market are Hisun Motors Corporation
USA, Suzuki Motors Corporation, Kawasaki Heavy Industries Ltd, and DRR USA.
Hisun Motors Corporation USA is a
key player in the production of power sports and all-terrain vehicles. Boasting
a widespread network of over 250 dealers and numerous retail outlets, the
company has emerged as one of the major leaders in the power sports sector. Its
product line includes Sector E1, featuring a 48-volt 27 HP AC drive train.
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 North 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 North
America electric ATV and
UTV market’s growth during the upcoming years
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analysts can customize this report based on your preferences. Connect with us here.
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VIEW REPORT1. NORTH
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. NORTH
AMERICA ELECTRIC ATV AND UTV MARKET – BY VEHICLE TYPE
3.1. ATV
3.2. UTV
4. NORTH
AMERICA ELECTRIC ATV AND UTV MARKET - BY DISPLACEMENT
4.1. ≤
400 (CC)
4.2. 400-800(CC)
4.3. ≥
800 (CC)
5. NORTH
AMERICA ELECTRIC ATV AND UTV MARKET - BY PROPULSION
5.1. BATTERY
ELECTRIC
5.2. HYBRID
6. NORTH
AMERICA ELECTRIC ATV AND UTV MARKET - BY BATTERY CAPACITY
6.1. UP
TO 48V
6.2. 48V
TO 72V
6.3. ABOVE
72V
7. NORTH
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. NORTH
AMERICA ELECTRIC ATV AND UTV MARKET – BY COUNTRY OUTLOOK
8.1. UNITED
STATES
8.2. CANADA
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: NORTH 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: NORTH AMERICA ELECTRIC
ATV AND UTV MARKET, BY VEHICLE TYPE, 2024-2032 (IN $ MILLION)
TABLE 6: NORTH AMERICA ELECTRIC
ATV AND UTV MARKET, BY DISPLACEMENT, 2024-2032 (IN $ MILLION)
TABLE 7: NORTH AMERICA ELECTRIC
ATV AND UTV MARKET, BY PROPULSION, 2024-2032 (IN $ MILLION)
TABLE 8: NORTH AMERICA ELECTRIC
ATV AND UTV MARKET, BY BATTERY CAPACITY, 2024-2032 (IN $ MILLION)
TABLE 9: NORTH 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: NORTH AMERICA ELECTRIC ATV AND UTV MARKET, BY VEHICLE TYPE,
2023 & 2032 (IN %)
FIGURE 4: NORTH AMERICA ELECTRIC ATV AND UTV MARKET, BY ATV, 2024-2032
(IN $ MILLION)
FIGURE 5: NORTH AMERICA ELECTRIC ATV AND UTV MARKET, BY UTV, 2024-2032
(IN $ MILLION)
FIGURE 6: NORTH AMERICA ELECTRIC ATV AND UTV MARKET, BY DISPLACEMENT,
2023 & 2032
FIGURE 7: NORTH AMERICA ELECTRIC ATV AND UTV MARKET, BY ≤ 400 (CC),
2024-2032 (IN $ MILLION)
FIGURE 8: NORTH AMERICA ELECTRIC ATV AND UTV MARKET, BY 400-800(CC),
2024-2032 (IN $ MILLION)
FIGURE 9: NORTH AMERICA ELECTRIC ATV AND UTV MARKET, BY ≥ 800 (CC),
2024-2032 (IN $ MILLION)
FIGURE 10: NORTH AMERICA ELECTRIC ATV AND UTV MARKET, BY PROPULSION, 2023
& 2032 (IN %)
FIGURE 11: NORTH AMERICA ELECTRIC ATV AND UTV MARKET, BY BATTERY
ELECTRIC, 2024-2032 (IN $ MILLION)
FIGURE 12: NORTH AMERICA ELECTRIC ATV AND UTV MARKET, BY HYBRID,
2024-2032 (IN $ MILLION)
FIGURE 13: NORTH AMERICA ELECTRIC ATV AND UTV MARKET, BY BATTERY
CAPACITY, 2023 & 2032 (IN %)
FIGURE 14: NORTH AMERICA ELECTRIC ATV AND UTV MARKET, BY UP TO 48V,
2024-2032 (IN $ MILLION)
FIGURE 15: NORTH AMERICA ELECTRIC ATV AND UTV MARKET, BY 48V TO 72V,
2024-2032 (IN $ MILLION)
FIGURE 16: NORTH AMERICA ELECTRIC ATV AND UTV MARKET, BY ABOVE 72V,
2024-2032 (IN $ MILLION)
FIGURE 17: NORTH AMERICA ELECTRIC ATV AND UTV MARKET, BY END-USER, 2023
& 2032 (IN %)
FIGURE 18: NORTH AMERICA ELECTRIC ATV AND UTV MARKET, BY RECREATIONAL,
2024-2032 (IN $ MILLION)
FIGURE 19: NORTH AMERICA ELECTRIC ATV AND UTV MARKET, BY SPORTS,
2024-2032 (IN $ MILLION)
FIGURE 20: NORTH AMERICA ELECTRIC ATV AND UTV MARKET, BY AGRICULTURE
& UTILITY, 2024-2032 (IN $ MILLION)
FIGURE 21: NORTH AMERICA ELECTRIC ATV AND UTV MARKET, BY MILITARY &
DEFENSE, 2024-2032 (IN $ MILLION)
FIGURE 22: NORTH AMERICA ELECTRIC ATV AND UTV MARKET, BY OTHER END-USERS,
2024-2032 (IN $ MILLION)
FIGURE 23: UNITED STATES ELECTRIC ATV AND UTV MARKET 2024-2032 (IN $
MILLION)
FIGURE 24: CANADA ELECTRIC ATV AND UTV MARKET 2024-2032 (IN $ MILLION)