FREMONT, Calif., July 1, 2022 /PRNewswire/ — The global electric all-terrain vehicle (ATV) and utility-terrain vehicle (UTV) market is projected to reach $4.74 billion in terms of revenue by 2031, at a CAGR of 21.4%, suggests the premium market intelligence study by BIS Research.
All-terrain vehicles (ATVs) and utility-terrain vehicles (UTVs) are becoming popular in various applications around the world. The vehicles’ capacity to operate through a variety of terrains has increased their popularity.
An increase in EV safety requirements, increased demand for a better driving experience, and the low cost of maintenance for EVs contribute to the growing application areas for electric ATVs and UTVs. Furthermore, governments and federal agencies are making significant investments in subsidies and infrastructure development to promote electric vehicles to reduce carbon dioxide emissions, fueling the growth of electric ATV and UTV sales.
The detailed study is a compilation of 161 market data tables and 95 figures spread through 275 pages and in-depth TOC on “Global Electric All-Terrain Vehicle (ATV) and Utility-Terrain Vehicle (UTV) Market – Analysis and Forecast, 2022- 2031”
Demand – Drivers and Limitations
Following are the demand drivers for the global electric ATV and UTV market:
Low cost of ownership of electric ATVs and UTVs.
Low noise emissions from electric ATVs and UTVs improve their applicability.
Increasing global awareness of reducing greenhouse gas emissions.
Increasing ATV and UTV use in military and recreational activities.
Shifting focus toward electric variants.
The market is expected to face some limitations too due to the following challenges:
Higher retail prices than comparable internal combustion engine ATVs and UTVs.
Range anxiety and impact of high battery weight on vehicle performance.
Impact of high battery weight on vehicle performance.
Reasons to Buy This Report
This exclusive report on the global electric ATV and UTV market will help you in the following ways:
A dedicated section focusing on the current and futuristic trends adopted by the key players operating in the global electric all-terrain vehicle (ATV) and utility-terrain vehicle (UTV) market.
The 15 players’ extensive competitive benchmarking offers a holistic view of the global electric all-terrain vehicle (ATV) and utility-terrain vehicle (UTV) market landscape.
Qualitative and quantitative analysis of the global electric all-terrain vehicle (ATV) and utility-terrain vehicle (UTV) market at the region and country-level and granularity by application and product segments.
Analyst’s Take on the Market:
According to Dhrubajyoti NarayanLead Analyst, BIS Research“According to the American National Standards Institute, an ATV is a vehicle with operator straddled seats and steering wheel handlebars that run on low-pressure tires and is designed for climbing a wider range of terrain than most other commercially available vehicles. Several major electric ATV and UTV manufacturers have released electric variants of their products. The market for electric ATVs and UTVs is expected to grow as governments worldwide begin implementing strategies to increase EV sales and phase out IC engine vehicles in their countries.“
View the report on Global Electric ATV and UTV Market
Key Companies Operating in the Market and Competitive Landscape
The companies that are profiled have been selected based on inputs gathered from primary experts, and analyzing company coverage, product portfolio, and market penetration.
Some of the prominent names established in this market are:
Electric All-Terrain Vehicle Manufacturers
Electric Utility-Terrain Vehicle Manufacturers
Electric All-Terrain Vehicle and Utility-Terrain Vehicle Manufacturers
Companies that are not a part of the above pool have been well represented across different sections of the report (wherever applicable).
Who Should Buy This Report?
The companies manufacturing and commercializing electric all-terrain vehicles (ATV) and utility terrain vehicles (UTV), research institutions, and regulatory bodies should buy this report.
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Key Questions Answered in the Report:
What are some of the major factors and trends that are impacting the electric ATV and UTV market?
What are some of the key revolutions impacting the electric ATV and UTV market?
How has COVID-19 impacted the electric ATV and UTV market across the globe, and how are the players within the improvising/innovating ecosystem to mitigate the impact?
Which are the leading production technologies and end-use sectors in the market, and how are they going to perform in the coming years?
For a new company looking to enter the electric ATV and UTV market, which areas could it focus upon to stay ahead of the existing competition?
What kinds of new strategies are being adopted by the existing market players to strengthen their market position in the industry?
About BIS Research:
BIS Research is a global B2B market intelligence and advisory firm focusing on deep technology and related emerging trends which can disrupt the market dynamics in the near future. We publish more than 200 market intelligence studies annually that focus on several deep technology verticals.
Our strategic market analysis emphasizes on market estimations, technology analysis, emerging high-growth applications, deeply segmented granular country-level market data, and other important market parameters useful in the strategic decision-making for senior management.
BIS Research offers syndicate as well as custom studies and expert consultations to firms, providing them specific and actionable insights on novel technology markets, business models, and competitive landscape.
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SOURCE BIS Research