Electric All-Terrain Vehicle (ATV) and Utility-Terrain Vehicle (UTV) Market Overview by Recent Opportunities, Growth Size, Regional Analysis and Forecasts to 2028

The global Electric ATV And UTV Market accounted for $468.9 million in 2019 and is expected to reach $4.30 billion by 2028. The market is anticipated to grow at a CAGR of 23.37% during the forecast period 2022 to 2028. The market growth is mainly attributed to the rising number of government policies for electric vehicles, better availability of charging infrastructure, and increasing need to minimize the level of carbon dioxide emissions. In addition, electric ATVs and UTVs have low cost of ownership and low noise emissions, which are expected to drive the market growth during the forecast period. 

Competitive Landscape

Continuous product expansions (launches and enhancements) and signing of partnerships and collaborations are some of the business strategies executed in electric ATV and UTV market. Several companies, including CFmoto, DRR USA, Tesla, Arctic Cat, HiSun Motors, Honda Motor Co Ltd, Nikola Corporation, Club Car, LLC, Bombardier Recreational Products, and Segway Technology Co., Ltd, among others, have been involved in product launches and enhancements.

Market Segmentation

• Application Type – Professional Sports, Recreational, Agriculture and Utility, Military and Defense, and others
• Product Type – All-Terrain Vehicle and Utility-Terrain Vehicle
• Drivetrain Type – Two-Wheel Drive, Four-Wheel Drive, All-Wheel Drive
• Engine Size – <400CC, 400CC to 800CC, and >800CC
• Battery Capacity – Up to 48V, 48V to 72V, More than 72V
• Propulsion Type – BEV, PHEV, and HEV
• Number of Wheels – Four-Wheeled and More than Four-Wheeled
• Seating Capacity – One-Seater, Two-Seater, and More than Two-Seater

Scope of the Report

The research study analyzes the global Internal Combustion Engine industry from 360-degree analysis of the market thoroughly delivering insights into the market for better business decisions, considering multiple aspects some of which are listed below as:

Recent Developments

o Market Overview and growth analysis
o Import and Export Overview
o Volume Analysis
o Current Market Trends and Future Outlook
o Market Opportunistic and Attractive Investment Segment

Geographic Coverage

o North America Market Size and/or Volume
o Latin America Market Size and/or Volume
o Europe Market Size and/or Volume
o Asia-Pacific Market Size and/or Volume
o Rest of the world Market Size and/or Volume

Key Questions Answered by Electric ATV And UTV Market Report

1. What was the Electric ATV And UTV Market size in 2019 and 2020; what are the estimated growth trends and market forecast (2021-2027).

2. What will be the CAGR of the Electric ATV And UTV Market during the forecast period (2021-2027)?
   3. Which segments (product type/applications/end-user) were most attractive for investments in 2021? How these segments are expected to grow during the forecast period (2021-2027).
   4. Which manufacturer/vendor/players in the Electric ATV And UTV Market was the market leader in 2020?
   5. Overview on the existing product portfolio, products in the pipeline, and strategic initiatives taken by key vendors in the market.