10 Trends Shaping The All-Terrain Vehicle (ATV) Industry
Electric Youth ATVs
This trend in youth ATVs comes from Best Reviews, a reliable company that does not accept products from manufacturers. Their team spent time deciding which trends are necessary to make a great ATV for children. The top pick for youth ATVs in 2022 is a dirt quad ATV called the Razor. The trend to have an electric ATV is on the rise, and this youth four-wheeler also has high-performance tires, like ATVs driven by adults.
Fun Accessories on Youth ATVs
Kid Trax is an ATV that doesn’t go very fast, but it has some new accessories that are trending in the market. Best Review picked Kid Trax as the best affordable model of youth ATV. This kid’s ATV has working headlights, and it has buttons to make realistic engine sounds that children will enjoy.
Hydraulic Disc Brakes on Top Performing ATVs
Our first trend in adult ATVs comes from a list compiled by ATV.com. This website provides consumers with reviews, product information, and more. The top-performing ATV on their list for this year is the sophisticated Polaris Sportsman 450 (H.O.). Like most ATVs in its class, the Sportsman has hydraulic disc front and rear brakes, and it has a fuel-injection carburetor engine.
Runner-up Top ATV Has Dual Hydraulic Front Brakes
ATV.com chose the 2022 Can-Am Outlander Max XT 570 as the second-best ATV on the market. The trend for warranties on new ATVs is five to seven years, and this ATV meets that demand with a warranty of six years. When compared to the Polaris Sportsman, the Outlander has a similar braking system, but the front brakes on this model are dual hydraulic brakes.
Dirt Wheels Magazine’s Best ATV for Doing Work
Dirt Wheels Magazine is available in print, in the iTunes store, and through many other major distribution networks. In their 2022 ATV Buyer’s Guide, their staff discusses the trend of owning an ATV that is good for doing work. The Alterra 570 by Arctic Cat has towing capabilities, and its ground clearance is 11 inches.
Affordable Adult ATVs
A trend that is always popular among consumers is affordability, so Motor Day put this criterion on their list of the 25 best ATVs on the market. Their pick for the best affordable ATV is from a company from the Zhejiang Province in China called Tao Motors. The Tao Tao T-Force 110cc has industry-standard hydraulic disc brakes. It also has two utility racks for carrying cargo.
Top ATVs Have Well-Rounded Specs
According to Motor Day, one of the main trends that ATV buyers in 2022 want is to find a machine that meets their needs in a balanced way. For this reason, their top pick is the Tao Tao Rhino 250. This strong machine is equipped with a 200cc 4-stroke engine.
Versatility and Good Shocks for Trail Riding
Gear Sustain is a motorcycle and ATV enthusiast resource headquartered in Arizona. They’ve assembled a list of the best ATVs for trail riding in 2022. Topping off their list is the Raptor 700R from Yamaha. This machine is trendy because of its versatility to meet the demands of new and old riders. Gear Sustain mentions how this machine is a smooth vehicle to ride because of its high-quality shocks.
Torque Is a Major Concern for Trail Riding Enthusiasts
As reported by Gear Sustain, the second choice for the best ATV in 2022 is the Kawasaki Brute Force 750i EPS. The reason this vehicle is appealing in today’s market is because of its high torque ability. To meet this demand, Kawasaki loaded the Brute Force with a 749cc V-Twin engine. This one is good for trails and for working around the yard.
Picking a Good ATV for Hunting
Eagle Cap Outdoors is responsible for assembling the information behind this trend in hunting ATVs for 2022. They ranked their picks based upon a variety of factors, including towing capacity, price, accessories, and winch quality. Their top pick was the Can-Am Outlander Mossy Oak 650. They picked this one above the rest because it has two winch receivers, a lot of clearance for riding through the brush, and amazing towing capacity.
ATV Industry Stats and Growth Projections in 2022
ATV Ownership Broken Down by Age
If you’re wondering how many other people own an ATV, it’s a good idea to see which age groups are accustomed to riding one. Knowing this information will help buyers decide if it’s a good idea to purchase an ATV for someone else. This information should prove useful to anyone working within the ATV industry.
This information has been obtained from Statista, a reliable source in over 200 markets. Statista’s survey results are from a study that included over 4,000 respondents. According to their survey, 8.11 percent of ATV owners were between 18 and 29 years old. More than 30 to 49-year-old respondents owned an ATV, resulting in an 11.85 percent share from this group. Lastly, around 5.5 percent of ATV owners were in the age range of 50 to 64 years. This survey was conducted in 2018.
How Many People does Will Buy an ATV?
In January of 2022, this statistic was published on Statista by Alexander Kunst. This information was obtained prior to 2022, and it represents the percentage of people who were planning to purchase an ATV in the preceding year. According to this survey, around 5.5 percent of the people questioned about purchasing an ATV had planned to purchase one. The survey group included people in the age range of 18 to 29 years.
Increase in ATV Roads Throughout America
While ATVs are enjoyed by people of various age groups, enthusiasts might have difficulty finding a place to ride. The expansion of ATV pathways in parks throughout the country should cause an increased interest among consumers. This information comes from a source that was formerly called PrimeNewswire (founded in 1998). GlobeNewswire is recognized for releasing public relations reports relating to companies operating in North America and Europe.
According to this source, the number of parks that were allowing ATVs was incredibly low. A decade ago, there were only a dozen parks (out of nearly 400 total) that had approved ATV pathways. As more people became enthusiastic about riding ATVs in parks, more pathways were opened up in the years 2014 to 2017. One outstanding grant for ATV trails was awarded to the state of Georgia. In 2017, a federal grant was awarded to give Georgia residents, and visitors access to a new amenity called the Bush Head Shoals State ATV Park.
According to GlobeNewswire, around 90 percent of the entire market share of national and worldwide ATV sales is split between five competing companies. Three of the five manufacturers sharing this large portion of the market are located within the US. The US-based companies are Polaris, Arctic Cat, and BRC. The other two are Honda and Yamaha. Polaris operates out of Minnesota, and Arctic Cat is also located in Minnesota.
Safety Requirements Have Increased for ATVs
Along with more riders mounting ATVs throughout the US, there has been an increase in the number of injuries resulting from ATV use and misuse. According to GlobeNewswire, injuries and fatalities have hindered the growth of this market. Fortunately, the US has created stringent public safety precautions to address the growing demand by ATV enthusiasts. From 2006 to 2016, over 14,000 fatalities were attributed to ATV use and misuse. This statistic comes from the US Consumer Product Safety Commission.
CAGR to Increase From 2022 to 2025
The CAGR (compound annual growth rate) is expected to increase by nearly 5 percent in the years 2022 to 2025. This information is good news for anyone who is interested in investing in the ATV market, and current investments should prove to be in the money.
Value of ATV Market in 2019
With such a large percentage of ATV market share in the US, it’s no surprise to see that the North American ATV market value is well over a billion dollars. In 2019, the ATV and UTV market was valued to be around 5.89 billion dollars.
Top Five Companies Have Largest Revenue in Industry
In addition to having the largest market shares, the top five manufacturers are also the ones with the largest shares of revenue from sales of ATVs. Since a large portion of sales come from the top five manufacturers, it’s no surprise that 75.90 percent of revenue is attributed to these companies as well.
Average Cost of ATVs
According to a consumer reporting website called Kompare It, the average cost of an ATV is between $8,000 and $17,000. This resource is only taking into account new ATV purchases from dealerships.
Average ATV Insurance Cost
Consumers who are considering purchasing an ATV might be interested in learning about insurance statistics. Insurance companies will offer several options to cover the ATV, the rider, and any property damage. Value Penguin presents data for five insurance options. The lowest insurance option costs $99, and the most expensive option costs $1,597.