Trends in the All-Terrain Vehicle (ATV) Industry
In 2020, the ATV market exceeded $3 billion and is expected to grow by over 7% compound annual growth rate (CAGR) between 2021 and 2027. This industry growth is driven by an increased interest in off-road sports and recreational activities, including competitions, championships, trails and adventure parks for off-road vehicles. While the market was negatively impacted during the first half of 2020 due to COVID-19 lockdowns and travel restrictions, the second half of that year saw fast growth in unit shipments and sales.1
The overall market continues to grow due to increased purchasing power and disposable incomes in developed and emerging economies, Demand for easily maneuverable ATVs in military, forestry, surveying and agricultural applications remains high. Gasoline-powered ATVs are the largest market segment, and demand for these more powerful ATVs is increasing in the defense and sports sectors. While electric ATVs command a smaller share of the market, concerns about the environment and the seesawing costs of diesel and gasoline are increasing their popularity.2ATV Marketing and ATV Consulting Services
A well-known and respected automotive retail marketer, Owner Connect extends its range of services to the growing ATV industry. We are prepared to help ATV businesses implement innovative lead-generating prospecting, effective digital marketing strategies and organized employee training and education programs. Our goal is to help our clients increase their customer satisfaction ratings while increasing growth and profitability. Our team is ready to hit the ground running!
1 Source: https://www.gminsights.com
2 Source: https://www.grandviewresearch.com