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Trends Shaping The All-Terrain Vehicle (ATV) Industry Outlook In 2023

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 2023 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 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 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 2023 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. 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 2023 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 2023 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 2023. Topping off their list is the Raptor 700R from Yamaha. This machine is trendy because of its versatility in meeting the demands of new and old riders. Gear Sustain mentions how this machine is a smooth vehicle 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 2023 is the Kawasaki Brute Force 750i EPS. This vehicle is appealing in today’s market because of its high torque ability. Kawasaki loaded the Brute Force with a 749cc V-Twin engine to meet this demand. 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 2023. They ranked their picks based on various 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 2023

ATV Ownership Broken Down by Age

If you’re wondering how many others 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 Will Buy an ATV?

In January of 2023, this statistic was published on Statista by Alexander Kunst. This information was obtained before 2023, representing the percentage of people 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 formerly called PrimeNewswire (founded in 1998). GlobeNewswire is recognized for releasing public relations reports for companies operating in North America and Europe.

According to this source, the number of parks allowing ATVs was incredibly low. A decade ago, only a dozen parks (out of nearly 400) had approved ATV pathways.

Market Shared Between Five Major Companies

According to GlobeNewswire, around 90 percent of the national and worldwide ATV sales market 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 have been increased 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 2023 to 2025

The CAGR (compound annual growth rate) is expected to increase by nearly 5 percent from 2023 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 that the North American ATV market value is well over a billion dollars. In 2019, the ATV and UTV market was valued at 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 have 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 also attributed to these companies.

 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 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 property damage. Value Penguin presents data for five insurance options. The lowest insurance option costs $99, and the most expensive option costs $1,597.