Electric ATV and UTV Market Future Prospects
The global electric all-terrain vehicle (ATV) and utility-terrain vehicle (UTV) market size is USD 2.2 billion in 2024, which is projected to reach USD 9.3 billion by 2032, at a CAGR of 19.6% during 2025–2032. The growth is supported by the rising popularity of adventurous and recreational sports and activities, low noise emissions, and low cost of ownership and the expanding use of these vehicles for military purposes. In order to offer a zero-emission option, the powersports business, just like the automotive industry, needs to consider alternative propulsion strategies, including all-electric platforms.
These vehicles are used for off-road and rugged terrain travel. The market for them will also benefit from the widespread use of electric ATVs for a wide range of applications, such as waterway construction, mud removal, excavation, land reclamation, environmental clean-ups, and reservoir, pond, swamp, and riverbed maintenance.