France ATV and UTV Market is expected to reach USD 1124.0 million by 2030
The growing demand for UTVs and ATVs for recreational purposes in France is driving up demand for the France ATV and UTV market during the forecast period.
France ATV and UTV Market was valued at USD 621.57 million in 2022, and is predicted to reach USD 1124.0 million by 2030, with a CAGR of 8.83% from 2023 to 2030, according to new research by Next Move Strategy Consulting.
In France, the surge in UTV demand is predominantly fueled by sectors such as entertainment, sports, forestry, and hunting. Furthermore, the nation has witnessed an increase in the establishment of adventure parks and leisure destinations. The escalating interest in UTVs and ATVs for recreational use presents a noteworthy opening for manufacturers within this industry. A global company has recently extended its presence within the French market, strategically aiming to seize upon this favourable circumstance.
For instance, in February 2022, BRP Inc., the parent company of Can-Am, announced to expand its European operations. The company is opening a new design studio in Sophia Antipolis, France. The studio will develop new concept vehicles for BRP's brands, including Can-Am, Ski-Doo, and Sea-Doo.
However, Access to off-road areas for recreational use or utility purposes may be restricted or limited in certain regions due to environmental regulations, land-use policies, or private property restrictions. These limitations can hinder the widespread use and delight of ATVs and UTVs, particularly for recreational riders.
Moreover, the off-road nature of ATVs and UTVs poses inherent risks and safety concerns. Inexperienced or careless riders can be involved in accidents, leading to injuries or fatalities. Safety regulations, training requirements, and the enforcement of responsible riding practices are necessary to mitigate these risks. Thus, limited off-road access and safety concerns restrain the market's growth in the region.
On the other hand, ATVs and UTVs play a dual role as vehicles for both camping and nature exploration, yet they come with inherent dangers. The increasing presence of these vehicles in the market correlates with a heightened occurrence of accidents involving ATVs and UTVs. The predominant factor in many of these incidents is the lack of safe and responsible conduct by drivers. Hence, market players are introducing ATVs and UTVs with advanced GPS features to enhance safety and security.
Therefore, the ATV is equipped with user-friendly GPS and vehicle data tracking equipment. Consequently, developing ATVs and UTVs with enhanced safety features to prevent accidents and fatalities presents a lucrative business opportunity for major ATV and UTV market players.
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According to the report, leading players in the France ATV and UTV market include Polaris, Inc., BRP, Inc., Honda Motor Co., Inc., Kawasaki Heavy Industries Ltd., Yamaha Motor Co. Ltd., Textron, Inc., CF Moto, Suzuki Motor Corporation, KYMCO Group, and Kubota Corporation.
Key Insights from the France ATV and UTV Market Report:
The information related to key drivers, restraints, and opportunities and their impact on the France ATV and UTV market is provided in the report.
The value chain analysis in the market study provides a clear picture of the roles of each stakeholder.
The market share of players in the France ATV and UTV market is provided in the report along with their competitive analysis.