The North America ATV and UTV market growth is set to progress at a CAGR of 4.44% during the forecast period, 2022-2030. The introduction of new models by key players and racing championships by leading ATV & UTV clubs, along with favorable government initiatives, propel market growth. In the US, the local and state governments implemented a law facilitating ATVs on roadways with some regulations.
The United States and Canada are assessed for the North America ATV and UTV market growth evaluation. Canada is a major contributor to US exports, given the healthy trade relations under NAFTA. Ontario is expected to dominate the volume and revenue in the coming years, attributed to the presence of many clubs in the province. This promotes the construction and maintenance of trails. Several recreational and sports activities organized by OFATV clubs surges the business share. Moreover, the country has the presence of four major manufacturers that build snowmobiles. In 2020, 43,535 snowmobiles were sold in Canada out of the total 123,862 snowmobiles sold worldwide.
Further, key multinational manufacturing corporations are launching new utility vehicles in the country. The American Council of Snowmobiles (ACSA) and the Oregon State Snowmobile Association are introducing snowmobile campaigns to increase the participation of snowmobile riders. Moreover, the rising membership with associations supplemented by new initiatives, is beneficial to market growth.
Some of the eminent market players include Yamaha Motor Co Ltd, Textron Inc (Arctic Cat), Deere & Company, Polaris Industries Inc, Suzuki Motors Corporation, etc.
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