The Europe ATV and UTV Market would witness market growth of 7.2% CAGR during the forecast period (2023-2030).
The trend toward adventure sports and leisure activities, the use of ATVs and UTVs in military activities, and government regulations supporting the use of ATVs and UTVs on roads all contribute to the expansion of the market. Additionally, the development of electric vehicles and the manufacture of ATVs and UTVs that are safer offer many potentials for the expansion of the market. Market players are introducing ATVs and UTVs with cutting-edge features like GPS that are more safe and secure.
In the agriculture industry, there is a growing demand for ATVs for various farm-related tasks like weeding, field plowing, fence repair, handling animals, and general transportation. Several industries, including construction, manufacturing, utilities, search & rescue, and mining, use all-terrain vehicles. To raise brand awareness and attract new customers, well-known companies sponsor off-road racing and adventure sports competitions. In light of this, the market is estimated to grow significantly during the projection period.
Multinational automakers have introduced various ATVs in the United Kingdom because of the rising demand for sports, agriculture, and touring activities. As an illustration, CFMoto unveiled two variations of ATVs for cruising and farming. The touring ATVs and UTVs also have used comparable to cruiser motorcycles; therefore, they are ideal for activities like adventure sports or visiting rocky cities. Therefore, in the coming years, the growing uses of these quad bikes are projected to support the regional expansion of the market.
The Germany market dominated the Europe ATV and UTV Market by Country in 2022 and would continue to be a dominant market till 2030; thereby, achieving a market value of $1,090.9 million by 2030. The UK market is estimated to grow a CAGR of 6.2% during (2023 - 2030). Additionally, The France market would experience a CAGR of 7.9% during (2023 - 2030).
Based on Vehicle Type, the market is segmented into UTV, and ATV. Based on Fuel Type, the market is segmented into Gasoline Powered, Diesel Powered, Electric Powered, and Solar Powered. Based on End Use, the market is segmented into Mountaineering, Military, Agriculture, and Others. Based on Displacement, the market is segmented into More Than 800 CC, 400 CC To 800 CC, and Less Than 400 CC. Based on Power Output, the market is segmented into 50kW To 100 kW, Less Than 50kW, and Above 100 kW. Based on countries, the market is segmented into Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
Free Valuable Insights: The Worldwide ATV and UTV Market is Projected to reach USD 17.6 Billion by 2030, at a CAGR of 7.6%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Bombardier Recreational Products, Inc., Zhejiang CFMoto Power Co., Ltd., Deere & Company, Honda Motor Co. Ltd., Kawasaki Heavy Industries, Ltd., KUBOTA Corporation, Kwang Yang Motor Company Ltd., Suzuki Motor Corporation, Textron, Inc., and Yamaha Motor Co., Ltd.
By Vehicle Type
By Fuel Type
By End User
By Displacement
By Power Output
By Country
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