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United States Youth ATV & UTV Market to capture 88% volume share by 2024

Author : Ronak Bora | Published Date : 2019-05-21 

The United States will dominate the North America youth ATV & UTV market size with volume share at over 88% till 2024. Favorable climatic and geographical conditions along with the presence of several trails will support the regional dominance.

Pennsylvania youth ATV & UTV market share will grow significantly at around 5 %CAGR over the study timeframe due to the increased youth participation and the presence of multiple trails maintained and operated by the PA DCNR.

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North America youth ATV & UTV market has been gaining quite a momentum in the recent years. The remarkable surge in expenditures pertaining to recreational and tourism activities, exploration trips, and campaigning have undoubtedly paved the way for renewed sense of dynamism in the North American youth ATV & UTV industry share.  Given the tremendous surge in demand for recreational sports, prominent contenders as well as the regional governments have been going the whole hog to bring forth innovative vehicles, while boosting the statewide tourism.

The electric segment will exhibit 8% CAGR from 2018 to 2024 due to the lower maintenance costs, cleaner emissions, and no engine noise. The growing network of charging stations, improving fast charging capabilities, and increasing driving range will propel the segment growth.

The youth UTV/SSV segment will showcase more than 6% CAGR over the projected timeframe. This can be credited to the growing trend towards opting UTVs for off-roading. The enhanced safety features offered by these vehicles including windshield, seatbelts, roll cage along with multiple seating capabilities will supplement the North America youth ATV & UTV business growth till 2024.

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North America youth ATV & UTV market for gasoline engine dominated the fuel segment with over 94% revenue share over the projected timeframe owing to the vast network of fuel stations across the region. The availability of multiple models with varied engine alternatives in terms of capacity and power/torque outputs further supports the North America youth ATV & UTV dominance.

North America Youth ATV & UTV by Fuel

  • Gasoline
  • Electric

North America Youth ATV & UTV by Product

  • ATV
  • SSV/UTV

Ontario province will dominate the revenue and volume with over 28% share till 2024. This dominance can be credited to presence of several clubs in the province actively promoting the maintenance and construction of trails. Multiple sports and recreational activities organized by the OFATV clubs further augments the business share over the projected timeframe.

The major industry participants in the North America youth ATV & UTV market place are Polaris Industries, KYMCO, Arctic Cat, Honda Motors, Yamaha Motor Corporation, Bombardier Recreational Products, and Suzuki Motor Corporation.

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About Author

Ronak Bora

Ronak Bora

A graduate in Electronics Engineering, Ronak writes for Fractovia.org and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and sport. He can be contacted at- [email protected] | https://twitter.com/RonakBora26

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