Canada ATV and UTV Market by Type (ATV and UTV), by Displacement (Below 400 cc, 400–800 cc, and above 800 cc), by Fuel Type (Gasoline Powered, Diesel Powered, and Electric Powered), and by Application (Military, Agriculture, Recreation, and Other Applications) – Opportunity Analysis and Industry Forecast, 2024–2030
Industry: Automotive & Transportation | Publish Date: 17-Dec-2024 | No of Pages: 140 | No. of Tables: 106 | No. of Figures: 51 | Format: PDF | Report Code : AT774
Market Overview
Canada ATV and UTV Market was valued at USD 2.40 billion in 2023, and is predicted to reach USD 3.71 billion by 2030, with a CAGR of 5.6% from 2024 to 2030. All-Terrain Vehicle (ATV) is a motorized off-road vehicle designed for recreational and utility purposes. Its compact size, low-pressure tires, and handlebar steering characterize it. ATVs are designed to traverse various terrains, including dirt trails, mud, sand, and rocky surfaces. They have powerful engines and rugged suspension systems to provide excellent traction, maneuverability, and stability in challenging environments.
ATVs usually have a four-wheel drive system, allowing them to simultaneously deliver power to all wheels for enhanced off-road performance. ATVs are primarily used for recreational activities such as off-roading and trail riding; they are also utilized in various industries for utility purposes such as agriculture, forestry, search and rescue operations, and maintenance of remote areas.
Utility Task Vehicle (UTV) is a multipurpose off-road vehicle for work and recreation. UTVs are larger and more robust than traditional ATVs as they feature a cabin-like structure with side-by-side seating for two or more occupants, offering increased passenger capacity and cargo-carrying capabilities.
UTVs are renowned for their versatility and ruggedness. They have sturdy frames, powerful engines, and advanced suspension systems to handle demanding terrains and heavy loads. Some renowned brands that offer these kinds of UTVs in the market include Polaris Inc, Yamaha, Kawasaki, Arctic Cat, John Deere, Honda, Textron Off-Road, and others.
These vehicles are widely used in various industries and sectors, including agriculture, construction, landscaping, recreation, and public services. Their utility features include the ability to haul and tow heavy loads with ample cargo space for transporting equipment and materials.
Thus, both ATVs and UTVs are popular off-road vehicles with distinct characteristics. ATVs excel in agility, speed, and maneuverability for single riders, while UTVs prioritize passenger capacity, cargo versatility, and comfort for multi-passenger & utility applications.
Canada's Robust Outdoor Culture Propels it to Become North America's Second Largest ATV and UTV Market
Canada is the second largest market for ATV and UTV vehicles in North America due to its strong culture of outdoor activities and recreational pursuits, similar to its neighboring country, the United States. Canadians enjoy various outdoor activities such as hunting, fishing, trail riding, and exploring the vast wilderness. ATVs and UTVs are highly valued for their ability to navigate rugged terrains and provide access to remote areas, making them popular choices among outdoor enthusiasts. Therefore, it is expected to drive the growth of ATV and UTV market in Canada.
Surging ATV and UTV Market in Canada Fueled by Growing Manufacturer Presence
The ATV and UTV market in Canada are experiencing significant growth due to the increasing presence of manufacturers in the industry. For instance, Segway Canada, which invited Chicks and Machines, a motorsports web magazine run exclusively by women, to the official launch event for their all-terrain vehicles (ATV) in September 2021. This development opens up new opportunities for the Canadian ATV and UTV market. Thus, creating significant growth of the market.
Limited Off-Road Access and Safety Concerns of ATV and UTV Market in Canada
Access to off-road areas for recreational use or utility purposes may be restricted or limited in certain regions due to environmental regulations, land-use policies, or private property restrictions. These limitations can hinder the widespread use and delight of ATVs and UTVs, particularly for recreational riders.
Moreover, the off-road nature of ATVs and UTVs poses inherent risks and safety concerns. Inexperienced or careless riders can be involved in accidents, leading to injuries or fatalities. Safety regulations, training requirements, and the enforcement of responsible riding practices are necessary to mitigate these risks. Thus, limited off-road access and safety concerns restrain the market's growth in the region.
Technological Advancements in the field of ATV and UTV Market in Canada
ATVs and UTVs serve as vehicles for camping and exploring nature but also have inherent risks. The availability of more of these vehicles on the market contributes to the higher frequency of ATV and UTV accidents. The primary cause of most vehicle accidents is the failure of drivers to behave safely and responsibly. Hence, market players are introducing ATVs and UTVs with advanced GPS features to enhance safety and security.
Therefore, the ATV is equipped with user-friendly GPS and vehicle data tracking equipment. Consequently, developing ATVs and UTVs with enhanced safety features to prevent accidents and fatalities presents a lucrative business opportunity for major ATV and UTV market players.
Competitive Landscape
The Canada ATV and UTV industry includes several market players such Polaris, Inc., BRP, Inc., Honda Motor Co., Inc., Kawasaki Heavy Industries Ltd., Yamaha Motor Co. Ltd., Textron, Inc., CF Moto, Suzuki Motor Corporation, Kwang Yang Motor CO., Ltd., Kubota Corporation, John Deere (Deere & Company), Linhai Group, Hisun Motors Corp., Argo, Massimo Motor Sports, LLC.
Key Benefits
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The Canada ATV and UTV market report provides a quantitative analysis of the current market and estimations through 2024-2030 that assists in identifying the prevailing market opportunities to capitalize on.
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The study comprises a deep dive analysis of the market trend including the current and future trends for depicting the prevalent investment pockets in the market.
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The information related to key drivers, restraints, and opportunities and their impact on the market is provided in the report.
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The competitive analysis of the market players along with their market share in the Canada ATV and UTV market.
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The SWOT analysis and Porter’s Five Forces model are elaborated in the study.
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Value chain analysis in the market study provides a clear picture of the stakeholders’ roles.
Canada ATV And UTV Market Key Segments
By Type
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ATV
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UTV
By Displacement
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Below 400 cc
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400–800 cc
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Above 800 cc
By Fuel Type
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Gasoline Powered
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Diesel Powered
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Electric Powered
By Application
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Military
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Agriculture
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Recreation
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Other Applications
Key Players
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Polaris, Inc.
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BRP, Inc.
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Honda Motor Co., Inc.
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Kawasaki Heavy Industries Ltd.
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Yamaha Motor Co. Ltd.
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Textron, Inc.
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CF Moto
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Suzuki Motor Corporation
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Kwang Yang Motor CO., Ltd.
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Kubota Corporation
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John Deere (Deere & Company)
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Linhai Group
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Hisun Motors Corp.
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Argo
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Massimo Motor Sports, LLC
REPORT SCOPE AND SEGMENTATION:
|
Parameters |
Details |
|
Market Size in 2023 |
USD 2.40 Billion |
|
Revenue Forecast in 2030 |
USD 3.71 Billion |
|
Growth Rate |
CAGR of 5.6% from 2024 to 2030 |
|
Analysis Period |
2023–2030 |
|
Base Year Considered |
2023 |
|
Forecast Period |
2024–2030 |
|
Market Size Estimation |
Billion (USD) |
|
Growth Factors |
Growing manufacturer presence The strong culture of outdoor activities |
|
Companies Profiled |
10 |
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Market Share |
Available for 10 companies |
|
Customization Scope |
Free customization (equivalent up to 80 working hours of analysts) after purchase. Addition or alteration to country, regional, and segment scope. |
|
Pricing and Purchase Options |
Avail customized purchase options to meet your exact research needs. |
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