North America youth ATV and UTV market size is poised to experience lucrative growth in the coming years. The region is witnessing growing interest towards sports & recreational activities among the youth and millennial population. This can be attributed a significant rise in the purchasing powers of consumers. In addition, most youth all-terrain vehicles (ATVs) and utility task vehicles (UTVs) are easily available at affordable prices.
Consequently, this has resulted in the increased construction of off-road trails and parks particularly across the U.S. The government is increasingly spending on the construction of new ATV and UTV trails as well as upgradation of existing ones, fueling the overall North America youth ATV and UTV market trends.
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Will gasoline engines continue to witness demand across North America youth ATV & UTV industry?
Gasoline engine segment will capture more than 94% revenue share up to 2024. This can be largely attributed to the extensive fuel station network across North America. Moreover, the availability of a wide range of ATV and UTV models based on power/torque outputs and capacity will accelerate the product demand.
On the other hand, electric segment will record a healthy CAGR of 8% during the analysis period. Apart from being ecofriendly, electric models are quieter and have low repair & maintenance costs. While gasoline engine currently dominates the fuel segment, the electric segment is anticipated to gain traction in the near future on account of factors such as expanding charging network, incorporation of fast charging technologies and improving driving range of electric models.
Youth ATVs are rapidly growing in popularity mainly due to lower number of strict age restriction in comparison to UTVs. Youth ATV segment dominated North America youth ATV & UTV industry size with over 80% revenue share during 2017. Factors such as lower initial costs and easier towing and parking capabilities will fuel the adoption of ATVs.
However, the consumer trend is now gradually shifting towards UTVs for off-roading activities. Youth UTV/SSV segment will grow at a CAGR of 6% over 2018-2024. STVs offer improved safety features which include seatbelts, windshields, roll cages in addition to multiple seating capabilities which will augment the market share.
Favorable geographical and climatic conditions and the presence of large number of off-road trails in the U.S. is anticipated to foster the regional growth. The U.S. is projected to hold a dominant 88% share in North America youth ATV & UTV industry by volume up to 2024.
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Presence of several clubs in Ontario province and strong focus on the construction and maintenance of trails is anticipated to promote the adoption of ATVs and UTVs across the province. Ontario province will capture a 28% volume and revenue share in North America youth ATV & UTV industry during the forecast timeline. The OFATV clubs are organizing numerous sports and recreational activities which will further drive the business growth.
Table of Contents (ToC) of the report:
Chapter 1. Methodology and Scope
1.1.1. Initial data exploration
1.1.2. Statistical model and forecast
1.1.3. Industry insights and validation
1.1.4. Definition and forecast parameters
1.2. Data Sources
Chapter 2. Executive Summary
2.1. North America Youth ATV & UTV industry 3600 synopsis, 2013 - 2024
2.1.1. Business trends
2.1.2. Product trends
2.1.3. Fuel trends
2.1.4. Regional trends
Chapter 3. North America Youth ATV & UTV Industry Insights
3.1. Industry segmentation
3.2. Industry landscape, 2013 - 2024
3.3. Industry ecosystem analysis
3.3.1. Component Suppliers
3.3.3. Profit margin analysis
3.3.4. Distribution channel analysis
126.96.36.199. End Users
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