North America Youth ATV & UTV Market To Accrue Massive Revenues Over 2021-2024
Category: #business  By Ronak Bora  Date: 2021-08-02
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North America Youth ATV & UTV Market To Accrue Massive Revenues Over 2021-2024

North America youth ATV & UTV market has been gaining quite a momentum in the recent years. The remarkable surge in expenditures pertaining to recreational and tourism activities, exploration trips, and campaigning have undoubtedly paved the way for renewed sense of dynamism in the North America youth ATV & UTV industry share.  Given the tremendous surge in demand for recreational sports, prominent contenders as well as the regional governments have been going the whole hog to bring forth innovative vehicles, while boosting the statewide tourism.  

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The recent news of Monroe approving the ATVs on the city streets is an apt substantiation to the aforesaid.  Elaborating further, reports reveal that in a bid to boost tourism in rural areas and expand recreational activities, the government of Monroe City in the U.S. state of Missouri, has voted in the favor of allowing ATVs on the city streets, with some rules. The move is expected to significantly influence the estimated 25,000 ATV owners in Washington, while propelling the North America youth ATV & UTV market share.

If reports are to be believed, Monroe is the latest Snohomish County city to allow ATVs on city roads and joins Granite Falls, Darrington, Stanwood, Granite Falls, Mill Creek, and Sultan to have allowed ATVs on their street. Wisconsin, is another U.S. state, that has let UTVs and ATVs to use city streets with speed limits of 35 mph or less, thanks to the change in Wisconsin laws and growing popularity of ATV and UTVs across the North America belt.

Considering the rising demand for these off-road vehicles, it is important to note that the UTV segment accounted for over 20% revenue share of North America youth ATV & UTV industry in 2017. Given the multiple benefits of standard safety equipment, roll cage, windscreen, and seatbelts, the UTVs are expected see considerable pickup in demand in the ensuing years. With further rise in off-road leisure activities, adventure tourism, riding, and camping, the UTV segment of North America youth ATV & UTV market is projected to register a CAGR of 6% over 2018-2024.

Having a vast geographical expanse of around 430 wilderness areas, over 150,000 miles of trails, and large farms, ranches, and unpaved roads, the U.S. has emerged as a lucrative investment hub for North America youth ATV & UTV market expansion. Reports claim that the profound surge in recreational activities and the presence of major industry players bringing forth technologically advanced vehicles will be the key factors driving the regional share. Accounting for a revenue share of USD 220 million in 2017, estimates claim the U.S. youth ATV & UTV market to be a dominant player with a volume share of over 90% by 2024.

Quite overtly, the significant geographical benefits in conjunction with the rising popularity of motor sports & recreational activities are slated to robustly fuel the ATVs & UTVs product demand across North America. And furthermore, with the growing product popularity, the extensive efforts of industry contenders & regional governments to expand the scope of these activities are all set to carve a profitable roadmap for North America youth ATV & UTV market in the years ahead.

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Partial Chapter of the Table of Content

Chapter 4.   North America Youth ATV & UTV Market, By Product

4.1. Market share by product, 2017 & 2024

4.1.1.  ATV

4.1.1.1.    Market estimates and forecast, 2013-2024

4.1.1.2.    Market estimates and forecast, by region, 2013-2024

4.1.2.  SSV/UTV

4.1.2.1.    Market estimates and forecast, 2013-2024

4.1.2.2.    Market estimates and forecast, by region, 2013-2024

Chapter 5.   North America Youth ATV & UTV Market, By Fuel

5.1. Market share by fuel, 2017 & 2024

5.2. Gasoline

5.2.1. Market estimates and forecast, 2013 - 2024

5.2.2.  Market estimates and forecast, by region, 2013–2024

5.3. Electric

5.3.1. Market estimates and forecast, 2013 - 2024

5.3.2.  North America Youth ATV & UTV Market estimates and forecast, by region, 2013–2024

Browse complete Table of Contents (ToC) of this research report @ https://www.decresearch.com/toc/detail/north-america-youth-atv-and-utv-market

 

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About Author

Ronak Bora

Ronak Bora    

A graduate in Electronics Engineering, Ronak writes for Technology Magazine and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and spo...

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