U.S. Electric UTV and ATV Powertrain Market Expected to Surge, Reaching USD 5.18 Billion by 2030

Dublin, Jan. 23, 2024 (GLOBE NEWSWIRE) -- The "U.S. Electric UTV and ATV Powertrain Market Size, Share & Trends Analysis Report by Vehicle Type (Neighborhood Electric Vehicle, All-terrain Vehicle, Utility Task Vehicle), Powertrain Type (2 in 1, 3 in 1), and Segment Forecasts, 2023-2030" report has been added to ResearchAndMarkets.com's offering.

The latest market analysis report unveils comprehensive insights into the burgeoning U.S. electric UTV and ATV powertrain market, highlighting a promising growth trajectory through 2030. The market is projected to expand at a significant CAGR of 10.2% from 2023 to 2030, with a special focus on environmentally responsible off-road vehicles.

Driven by the dual engines of increasing eco-conscious consumer preferences and strong federal support for sustainable transportation options, the market's ascendancy reflects a deep-rooted commitment to greener, technologically advanced powertrain solutions.

Market Report Highlights:

  • The All-terrain Vehicle (ATV) segment is poised for rapid growth, benefitting from heightened awareness and demand for sustainably powered, high-performance vehicles.

  • Integration of advanced powertrain types, such as "more than 3 in 1" configurations, is fueling technological innovation and market expansion, underscoring the shift towards alternative energy sources.

  • Strategic positioning by key market players, illustrated by partnerships and product introductions, reflects the competitive nature of the market and its pivotal role in driving the electric revolution in off-road transportation.

In a remarkable development, market dynamics are evolving to cater to the growing appetite for electric vehicles with robust off-road capabilities. The proliferation of electric UTVs and ATVs is not only aligned with emerging recreational trends but also resonates with the operational needs of various industries, including transportation, agriculture, and logistics.

High-impact collaborations such as BorgWarner, Inc.'s partnership with onsemi, demonstrate the market's commitment to technological refinement, with a collective goal to enhance vehicle performance and consumer appeal.

Key Developments:

  1. DANA Limited's groundbreaking launch of a new electrification-centred drivetrain portfolio showcases the market's drive towards innovation and efficiency.

  2. The U.S. government's support through loan programs underlines the importance of transitioning to environmentally friendly and advanced vehicle technologies.

The detailed analysis embodies a thorough exploration of market segments, trends, and forecasts, presenting a granular view of the industry's vibrant future. This report is an essential tool for stakeholders, providing actionable insights into a market at the cusp of a new electric mobility era.

Environmental Sustainability at the Forefront of Off-road Vehicle Market Growth

With environmental concerns taking center stage, the transition towards electric powertrains in the off-road sector is not merely a trend but a critical imperative for market progression. As consumer attitudes towards carbon emissions harden, the market for electric ATVs and UTVs is expected to mirror this shift, reinforcing the sector's overall growth.

For more information and detailed analyses of the U.S. electric UTV and ATV powertrain market, the report offers an in-depth look at the vehicle segments, technological advancements, and the competitive landscape shaping the market's expansion through 2030.

Key Attributes:

Report AttributeDetails
No. of Pages100
Forecast Period2022 - 2030
Estimated Market Value (USD) in 2022$2.46 Billion
Forecasted Market Value (USD) by 2030$5.18 Billion
Compound Annual Growth Rate10.2%
Regions CoveredUnited States

Companies Profiled

  • American Axle & Manufacturing, Inc.
  • BorgWarner Inc.
  • Curtis Instruments, Inc.
  • DANA Limited
  • GKN Automotive Limited
  • HyperCraft
  • Robert Bosch GmbH
  • Tesla
  • Yamaha Motor Co., Ltd.

For more information about this report visit https://www.researchandmarkets.com/r/qglkji

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U.S. Electric UTV and ATV Powertrain Market