ATV industry statistics 2024

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All-terrain vehicles (ATVs) are beloved by outdoorsy thrill-seekers and farming professionals alike. These motorized vehicles are smaller than a car yet larger than a motorcycle or dirt bike. They’re designed for off-road use, so some ATV owners use them for recreational purposes such as hunting, fishing and camping, and others use them for more practical tasks like farming, ranching or construction. Models vary by intended use, number of wheels, number of seats, engine type, drive type and fuel type.

The ATV industry saw a small growth spurt during the pandemic, but demand slowed over the following two years. In 2023, however, sales numbers were high once again. Market research firms estimate the industry will continue to grow over the next eight years.

Key insights

The ATV industry’s market size was between $2.9 billion and $4.4 billion in 2023.

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From 2024 to 2032, experts estimate the ATV industry will grow by a CAGR between 3% and 6.5%.

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Over 1.2 million Americans own an ATV.

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In 2023, there were about 682,000 ATV sales globally, the third-highest number of sales the industry has ever reached.

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ATV industry statistics

According to Global Market Insights, a market research and strategy consulting firm, the ATV industry is growing right now due to improving product functionality, development of electric ATVs and the increasing popularity of ATV sporting events and adventure sports. However, concerns about rider safety and environmental impact may curb this growth.

Globally, North America made up the majority — over 60% — of the ATV market share in 2023. In terms of ATV product types, adult ATVs are more popular than youth ATVs, comprising 85% of the market. Additionally, ATVs intended for recreational purposes constituted 40% of the market that year.

ATV industry market size

Market research firms differ on their estimates of the global ATV market’s size and their projections of its future growth in coming years.

Firms estimate the global ATV market was worth somewhere between $2.9 billion and $4.4 billion in 2023. From 2024 to 2032, estimates project the industry will grow at a compound annual growth rate (CAGR) between 3% and 6.5%.

ATV manufacturing market size

The manufacturing sector of the ATV industry made $4.9 billion in revenue in the U.S. during 2023, according to IBISWorld. This revenue has decreased at a CAGR of 2.2% from 2018 to 2023 because of issues in the supply chain but is projected to increase over the next five years. This segment of the ATV industry has 1,232 employees and 32 total businesses. Polaris, John Deere and Honda are the biggest manufacturers in the U.S.

Market segmentation data

ATVs vary by a number of factors, including the following:

  • Use: ATVs can be used for sport, recreation, utility and other uses. Many ATV manufacturers also offer adult or youth versions.
  • Engine type: Smaller engines are easier for beginners to use, while bigger engines provide more power. ATV engines can be below 400cc, between 400cc to 800cc or above 800cc.
  • Number of wheels: Though four-wheelers are the most common, some ATVs have only three wheels, while others have more than four wheels.
  • Drive type: ATVs can have two-wheel drive for flat terrain, four-wheel drive for bumpy terrain or all-wheel drive, which automatically switches between the two.
  • Fuel type: Like cars, ATVs can be fueled by either electricity or gasoline.
  • Seating capacity: ATVs typically have either one or two seats.

Who owns ATVs most?

More than 1.2 million people in the U.S. own an ATV, according to DataMasters. Most of these people are homeowners, and some also own farms or ranches. They typically make $65,000 a year or more.

One-third each of ATV owners use their ATV recreationally, for utility work on their farm or ranch or for activities like hunting and fishing.

Data on those who’ve purchased ATVs from popular brands Polaris and Honda reveals that over half of their customers live in rural areas. They’re predominantly men and are typically about 39 years old. They often enjoy outdoor activities like hunting, fishing and camping. Some are also interested in racing, motorcycles and car shows. Data indicates that Yamaha, another popular brand, attracts younger customers.

How many ATVs are sold yearly?

About 682,000 ATV sales occurred across the globe in 2023, according to MotorCycles Data. This is the third-highest total sales number the industry has ever seen. In 2020, the industry saw a record 700,000 ATV sales prior to sales slowing significantly during 2021 and 2022.

The U.S., Mexico and Canada made up over 70% of sales in 2023, followed by Europe and the rest of Latin America. The three highest-selling brands in 2023 were Polaris, Honda and Can-Am.

ATV industry market size forecast

Again, market research firms project different CAGRs and future market sizes. Two research firms estimating the industry’s growth between 2024 and 2032, Global Market Insights and IMARC Group, forecast the ATV industry to be worth between $5.11 and $5.74 billion by 2032.

FAQ

What brands are producing electric ATVs?

Polaris is the most well-known ATV brand that produces an electric ATV. Several smaller brands, including Ecocharger, DRR USA and Powerland, also sell electric ATVs.

What’s the difference between an ATV and a UTV?

ATV stands for all-terrain vehicle, while UTV stands for utility task vehicle. UTVs are bigger, more powerful and more often used in professional settings rather than recreationally.

How much do ATVs cost?

New ATVs typically cost $4,000 to $15,000 — the average cost is almost $9,000. Used ATVs, on the other hand, average about $6,500.


References

  1. “All-Terrain Vehicle (ATV) Market Size.” Global Market Insights. Evaluated May 22, 2024.Link Here
  2. “All-Terrain Vehicle Market.” Markets and Markets. Evaluated May 22, 2024.Link Here
  3. “All-Terrain Vehicle Market Size & Trends.” Grand View Research. Evaluated May 22, 2024.Link Here
  4. “Global All-Terrain Vehicle Market.” IMARC Group. Evaluated May 22, 2024.Link Here
  5. “All-Terrain Vehicle Market Valuation – 2024-2031.” Verified Market Research. Evaluated May 22, 2024.Link Here
  6. “All-Terrain Vehicle Market.” Fortune Business Insights. Evaluated May 22, 2024.Link Here
  7. “ATV Owners Demographics and Direct Marketing Tips.” DataMasters. Evaluated May 22, 2024.Link Here
  8. “All Terrain Vehicles. In 2023 Global Powersport Market Grew Up 4%.” MotorCycles Data. Evaluated May 22, 2024.Link Here
  9. “What is the Difference Between a UTV vs. ATV?” Progressive. Evaluated May 22, 2024.Link Here
  10. “A Guide to New Vs. Used ATV Pricing.” J.D. Power. Evaluated May 22, 2024.Link Here
  11. “ATV Manufacturing in the US.” IBISWorld. Evaluated May 22, 2024.Link Here

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