UK ATV and UTV Market is expected to reach USD 1141.9 million by 2030
The increasing military demand for ATVs and UTVs in UK is driving up demand for the market during the forecast period.
UK ATV and UTV Market was valued at USD 650.92 million in 2022, and is predicted to reach USD 1141.9 million by 2030, with a CAGR of 6.39% from 2023 to 2030, according to new research by Next Move Strategy Consulting.
The growing requirement for ATVs and UTVs within the military stems from their utilization as platforms for executing surveillance and reconnaissance missions. These vehicles enable military personnel to acquire essential real-time information, facilitating well-informed tactical choices. Consequently, this dynamic creates noteworthy prospects for manufacturers in the industry to address the escalating demand emerging from the military domain.
For instance, under the International Collaborative All-Terrain Vehicle (CATV) program, the UK Commando Force will acquire 60 Future All-Terrain Vehicles (FATV) starting in February 2025. Thus, the market is set to experience future growth opportunities due to this contract signed in December 2022.
However, the ability to access off-road areas for recreational or utility purposes in UK might be curtailed or bounded due to various factors. These include the influence of environmental regulations, the implementation of land-use policies, and constraints imposed by private property rights. Such restrictions have the potential to impede the broad utilization and enjoyment of ATVs and UTVs, especially among individuals engaging in recreational riding pursuits.
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 UK 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 UK ATV and UTV Market Report:
The information related to key drivers, restraints, and opportunities and their impact on the UK 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 UK ATV and UTV market is provided in the report along with their competitive analysis.