인도의 전지형차 시장 평가 : 구동 유형별, 용도별, 좌석 정원별, 엔진 용량별, 연료별, 지역별, 기회 및 예측(2018-2032년)

India all-terrain vehicle market is projected to witness a CAGR of 5.56% during the forecast period FY2025-FY2032, growing from USD 494.61 million in FY2024 to USD 762.27 million in FY2032. Several key factors are driving growth such as the versatility of the vehicle, increasing youth participation in recreational activities, rising disposable income of people, and technological advancements in vehicles.

All-terrain vehicles (ATVs) have now become a big part of providing unique recreational experiences, allowing users to explore tough terrain that is hard for normal vehicles to reach. They are essential for adventure tourism, especially among foreigners who want to explore every terrain of the country and every scenic location of the country. Beyond recreational use, ATVs have versatile applications in agriculture and the military and defense sector. They are used in the military for surveillance and in the artillery regiment for the transport of goods. For instance, in August 2024, the Indian army received 96 specialty mobility vehicles N1200 ATOR ATV under the Make in India initiative from JSW Gecko Motors (Gecko Motors Private Limited). These vehicles were designed with unique capabilities that enable them to traverse a wide range of terrains including snow, mud, and rocky mountains. Moreover, ATVs are widely used in the agricultural sector, where they help in crop monitoring, irrigation, and transportation. This versatility makes them valuable assets not only for leisure but also for practical applications in various industries.

Additionally, India ATV market is experiencing continuous advancements such as the use of electric powertrains and advanced safety features. Consumers' increased disposable income, combined with their evolving lifestyle, is projected to drive ATV demand in the future years. Manufacturers are continually developing and providing sophisticated features to fulfill the changing needs of their customers. With continual innovation and technical breakthroughs, India's ATV market is primed for further growth, providing significant potential for manufacturers, dealers, and consumers. Companies are introducing ATVs specially designed for specific professional applications including sports, military, and agriculture, among others, further expanding their market share and driving growth in the India all-terrain vehicle market.

Rising Adventure Tourism to Drive Market Growth

The growing trend of adventure tourism drives the all-terrain vehicle market in India. India offers a vast geographical landscape ranging from the Himalayas to the coastal region providing ample opportunities for ATV excursion. Additionally, the growing trend among tourists to seek outdoor experiences as an experiential ride makes ATVs a preferred choice for them. The economic benefits of adventure tourism also result in job creation and support to local businesses, including ATV rentals and guided tours, which fosters market growth. ATVs are becoming increasingly appealing to consumers due to safety features and technology advancements, as well as the introduction of new electric variants that represent the growing trend toward sustainability while also providing consumer options.

For instance, in November 2022, Rohnel Motors, introduced a lineup of electric ATVs in India, including Raven 1200W, Beast 1200W, Zeus 3000W, Ranger 4000W, and Patriot 5000W. These vehicles have low operating noise, are eco-friendly, and can be charged at any home electric point.

Youth and Millennials to Boost India All-Terrain Vehicle Market Growth

ATVs are gaining popularity among youth and millennials and increasing adoption by them for adventure sports and outdoor recreational activities are driving market growth. ATVs have become a symbol of excitement and adventure among younger generations for memorable experiences. Moreover, the increasing disposable income of consumers is fostering more growth as more families and friends are looking for thrilling adventures. The rise of social media is also playing an important role in attracting youth. Additionally, companies are collaborating with multiple influencers, sharing their adventurous experiences online, which fuels more interest among youth and ultimately increases sales for the company. Moreover, multiple parks and tour operators have capitalized on this trend by offering ATV and off-road experiences, creating an ecosystem that supports the growth of the ATV market. Companies are also introducing multiple ATVs to enhance the experience of youth and millennials.

For instance, in August 2022, Polaris Inc. launched its Polaris RZR Pro Sport in India. The vehicle is mainly made for off-road purposes, equipped with a 2.0-litre, 4-cylinder engine, and comes with an automatic transmission that generates 222 BHP power.

4WD Segment to Compose the Maximum Market Share

4WD variants will dominate in the Indian ATV market primarily due to off-road proficiency, and versatility. 4WD ATVs are gaining greater traction as adventure tourism grows with people looking out for exciting outdoor experiences. 4WD offers more stability when traversing hard surfaces such as mud, sand, or rocky paths. 4WD ATVs are more in demand in agricultural and industrial applications, where the heavy load-carrying capacity and broad-terrain handling offer versatile workhorses. Though the two-wheel drive (2WD) variants are economical and easier to handle, the complete control needed for serious off-roading cannot be achieved by them. An AWD system sends power to all four wheels but offers far less control in extreme conditions compared with 4WD. The increasing disposable incomes of youth and millennials, combined with an increasing interest in adventure sports, lead 4WD ATVs to stand as the favorite choice for recreational riders and utility applications in India.

For instance, in March 2024, Powerland Agro Tractor Vehicles Pvt. Ltd., launched the Powerland Tachyon 4x4, an electric all-terrain vehicle in the Indian market. It is driven by an 11-kWh battery pack and a PMSM electric motor that produces 800 Nm of torque and 50 horsepower.

Northern India to Dominate All-Terrain Vehicle Market Share

The Northern region of India is expected to dominate the all-terrain vehicle market owing to geographical advantages, rising adventure tourism, and increasing disposable incomes of consumers. It comprises tourist destinations such as Himachal Pradesh and Uttarakhand, which are known for their rugged terrains and outdoor recreational activities. In such regions, adventure sports are highly sought after, and demand for ATVs has significantly increased since these machines are well suited to tackle such tough landscapes and have activities on rough terrain.

The increasing disposable income of the youth and millennials in this region also plays a crucial role. As financial resources increase, this demographic is willing to invest in recreational vehicles such as ATVs to seek unique experiences that fit their adventurous lifestyles. Moreover, the region is also seeking more demand due to the high deployment of the army in the region, which uses these vehicles for their operations

For instance, in November 2024, the Indian government began procuring all-terrain vehicles for the Indian army's deployment along the northern border. These vehicles would serve as observation vehicles, mobile platforms for weaponry use, and logistical resupply platforms during operations.

Future Market Scenario (FY2025 - FY2032F)

Increasing collaboration and technological advancements are expected to influence the demand for all-terrain vehicles in the Indian market.

Demand for all-terrain vehicles in the military is expected to elevate due to the increasing budget of the Indian army and the heavy use of all-terrain vehicles in border areas.

Rising adventure tourism is driving demand for ATVs, as more consumers seek thrilling outdoor experiences and recreational activities.

Increasing purchasing power and increasing exposure to off-road travel among youth and millennials is expected to influence the demand for ATVs.

Key Players Landscape and Outlook

Key companies in the Indian all-terrain market are diversifying their product lines and providing more robust and technologically advanced vehicles. Additionally, many companies are collaborating with technically advanced institutions and investing heavily in research and development to enhance the features and performance of their vehicles.

For instance, in September 2024, A-Thon AllTerrain Private Limited, in collaboration with the AI and Robotics Technology Park (Artpark) showcased India's first home-grown All-Terrain Vehicle (ATV) Ashva 4x4 at International Autoshow 2024, held at Palace Grounds. This vehicle is designed for diverse agricultural applications. Moreover, companies are highly leveraging electric powertrains, advanced safety systems, and connection features to attract more people and increase market share.

Furthermore, the competitive domain is evolving as both international brands and local players are striking to capture market share. This dynamic competition embraces innovation and drives down prices, making ATVs more accessible to a wider audience.

Table of Contents

1. Project Scope and Definitions

2. Research Methodology

3. Executive Summary

4. Voice of Customer

• 4.1. Engine Power
• 4.2. Terrain Capability
• 4.3. Durability and Build Quality
• 4.4. Safety Features
• 4.5. Comfort and Ergonomics
• 4.6. Towing Capacity
• 4.7. Maintenance Requirements

5. India All-terrain Vehicle Market Outlook, FY2018-FY2032F

• 5.1. Market Size Analysis & Forecast
  • 5.1.1. By Value
  • 5.1.2. By Volume
• 5.2. Market Share Analysis & Forecast
  • 5.2.1. By Drive Type
    • 5.2.1.1. Two-wheel Drive (2WD)
    • 5.2.1.2. Four-wheel Drive (4WD)
    • 5.2.1.3. All-wheel Drive (AWD)
  • 5.2.2. By Application
    • 5.2.2.1. Sports
    • 5.2.2.2. Agriculture
    • 5.2.2.3. Military and Defense
    • 5.2.2.4. Others
  • 5.2.3. By Seating Capacity
    • 5.2.3.1. One Seat
    • 5.2.3.2. Two Seats
    • 5.2.3.3. Others
  • 5.2.4. By Engine Capacity
    • 5.2.4.1. Less than 400 cc
    • 5.2.4.2. 400 cc to 800 cc
    • 5.2.4.3. More than 800 cc
  • 5.2.5. By Fuel
    • 5.2.5.1. Gasoline
    • 5.2.5.2. Electric
  • 5.2.6. By Region
    • 5.2.6.1. North
    • 5.2.6.2. South
    • 5.2.6.3. East
    • 5.2.6.4. West and Central
  • 5.2.7. By Company Market Share Analysis (Top 5 Companies and Others - By Value, FY2024)
• 5.3. Market Map Analysis, FY2024
  • 5.3.1. By Drive Type
  • 5.3.2. By Application
  • 5.3.3. By Seating Capacity
  • 5.3.4. By Engine Capacity
  • 5.3.5. By Fuel
  • 5.3.6. By Region

6. Demand Supply Analysis

7. Value Chain Analysis

8. Porter's Five Forces Analysis

9. PESTLE Analysis

10. Pricing Analysis

11. Market Dynamics

• 11.1. Market Drivers
• 11.2. Market Challenges

12. Market Trends and Developments

13. Case Studies

14. Competitive Landscape

• 14.1. Competition Matrix of Top 5 Market Leaders
• 14.2. SWOT Analysis for Top 5 Players
• 14.3. Key Players Landscape for Top 10 Market Players
  • 14.3.1. Polaris Inc.
    • 14.3.1.1. Company Details
    • 14.3.1.2. Key Management Personnel
    • 14.3.1.3. Products and Services
    • 14.3.1.4. Financials (As Reported)
    • 14.3.1.5. Key Market Focus and Geographical Presence
    • 14.3.1.6. Recent Developments/Collaborations/Partnerships/Mergers and Acquisition
  • 14.3.2. Suzuki Motor Corporation
  • 14.3.3. Kawasaki Motors Corporation
  • 14.3.4. Bombardier Recreational Products Inc.
  • 14.3.5. Powerland Agro Tractor Vehicles Pvt. Ltd.
  • 14.3.6. A-Thon Allterrain Private Limited
  • 14.3.7. Nebula Automotive Pvt. Ltd.

Companies mentioned above DO NOT hold any order as per market share and can be changed as per information available during research work.

15. Strategic Recommendations

16. About Us and Disclaimer