All-terrain Vehicle Market by Type & Application (Sport, Entertainment, Agriculture, Military & Defense), Drive (2WD, 4WD, AWD), Engine (800cc), Fuel (Gasoline, Electric), Wheel Number, Seating Capacity, and Region-Global Forecast to 2027. The all-terrain vehicle market, by value, is projected to grow to USD 4.7 billion by 2027 from USD 3.9 billion in 2019, at a CAGR of 2.2% during the forecast period. The increasing demand for ATVs in military, agriculture, and sports applications is the major factor driving the market.

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AWD is expected to be the fastest growing segment in the market, by drive type, during the forecast period
AWD is projected to be the fastest growing segment of the all-terrain vehicle market. In AWD ATVs, the engine’s power is divided among all the wheels of an ATV. AWD ATVs are designed for active safety of riders, offering them twice the grip. In a tricky situation where the path is slippery and immediate adhesive friction is required to move safely into a merging terrain, AWDs come to the fore. All the wheels get engaged and deliver the required level of traction to negotiate the path or terrain safely. Increasing ATV production and the rising focus on safety features will drive the market for AWD ATVs in the near future.

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The two seat ATV market for all-terrain vehicles is estimated to be the fastest growing market during the forecast period

The global all-terrain vehicle market for all-terrain vehicles has the fastest projection for two seat ATVs in seating capacity segment. The market is segmented by seating capacity into one seat and two seats. According to MarketsandMarkets analysis, the sales of two seat ATVs is estimated to grow from 1,183 million units in 2019 to 2,136 million units by 2027. With increased demand for two seat ATVs in the tourism industry, two seat ATVs will gradually take over the share of one seat ATVs. According to industry insights, the demand for 2 seat ATVs will grow exponentially in North America because of its increasing demand in agriculture and military sectors. Hence, 2 seat ATVs is estimated to be the fastest growing market during the forecast period.

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Some of the key players in the all-terrain vehicle market are Polaris Industries (US), Textron (US), Honda (Japan), Kawasaki (Japan), Suzuki (Japan), and BRP (Canada). Polaris Industries (US) is expected to be the leading player in the market

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