인도의 전지형차 시장은 2025-2032년도의 예측 기간 중 CAGR 5.56%를 기록하며, 2024년도 4억 9,461만 달러에서 2032년도에는 7억 6,227만 달러로 성장할 것으로 예측됩니다. 차량의 다목적성, 청소년의 레크리에이션 활동 참여 증가, 사람들의 가처분 소득 증가, 차량의 기술 발전 등 몇 가지 주요 요인이 성장을 가속하고 있습니다.
ATV는 현재 독특한 레크리에이션 경험을 제공하는 주요한 요소로, 일반 차량으로는 도달하기 어려운 험한 지형을 탐험할 수 있으며, ATV는 모험 관광의 필수 요소로, 특히 국내의 모든 지형과 경치 좋은 곳을 탐험하고자 하는 외국인들 사이에서 인기가 높습니다. 특히 국내의 모든 지형과 경치 좋은 곳을 탐험하고 싶어하는 외국인들에게 인기가 있습니다. ATV는 레저용뿐만 아니라 농업, 군 및 국방 분야에서도 다목적으로 활용되고 있습니다. 군에서는 감시용으로, 포병 연대에서는 물자 운송용으로 사용되고 있습니다. 예를 들어 2024년 8월 인도 육군은 Make in India 구상에 따라 JSW Gecko Motors(Gecko Motors Private Limited)로부터 96대의 특수 기동 차량 N1200 ATOR ATV를 받았습니다. 이 차량은 눈, 진흙, 바위산 등 다양한 지형에서 주행할 수 있는 고유한 기능을 갖도록 설계되었습니다. 또한 ATV는 농작물 모니터링, 관개, 운송 등 농업 분야에서 광범위하게 사용되고 있습니다. 이러한 범용성은 레저뿐만 아니라 다양한 산업 분야에서 실용적인 용도로도 귀중한 자산이 되고 있습니다.
또한 인도 ATV 시장은 전기 파워트레인 및 첨단 안전 기능의 사용과 같은 지속적인 발전을 경험하고 있습니다. 소비자의 가처분 소득 증가와 라이프스타일의 진화는 향후 ATV 수요를 견인할 것으로 예상됩니다. 개발 제조업체는 변화하는 고객의 요구를 충족시키기 위해 끊임없이 정교한 기능을 개발하고 제공합니다. 끊임없는 혁신과 기술 발전으로 인도의 ATV 시장은 더욱 성장하여 제조업체, 딜러 및 소비자에게 큰 잠재력을 제공합니다. 각 업체들은 스포츠, 군, 농업 등 특정 전문용도를 위해 특별히 설계된 ATV를 출시하여 시장 점유율을 더욱 확대하고 인도 전천후 차량 시장의 성장을 가속하고 있습니다.
상기 기업은 시장 점유율에 따른 순위를 보유하지 않으며, 조사 작업 중 입수 가능한 정보에 기반하여 변경될 수 있습니다.
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.
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.
Companies mentioned above DO NOT hold any order as per market share and can be changed as per information available during research work.