ATV Trader Releases 2023 Industry Trends Report

Family and youth-oriented ATVs had a big year in 2023, as manufacturers sought to capitalize on families taking on outdoor activities together. (Kawasaki/)

The ATV and UTV market has been all over the place since the start of 2022, kicking the year off with ongoing supply chain snags before ending the year with a growing surplus of units as the parts became available. In 2023, money got more expensive as the effects of COVID began to decline. At the same time, the rush to outdoor activities that started during the pandemic slowed, and demand for off-road vehicles cooled.

In its 2023 industry trends report, ATV Trader goes through the ongoing and changing effects of COVID on the market, as well as new technologies and riding priorities changing what we’re buying.

Even though the market tightened a lot in 2023 compared to the banner growth years of the pandemic, ATV Trader says the off-road market is still projected to grow by about 5 percent this year. The off-road powersports industry is valued at $37 billion according to the report, which is expected to increase to $69 billion by 2032. So, while growth has slowed, the boom is by no means over.

Accidents, injuries, and fatalities are also up, according to the report, thanks mostly to the sharp increase in the number of trail users during the COVID years. The upside of that depressing trend is that manufacturers are sharpening their focus on making machines safer to use.

Because so many families headed outside together over the last four years, the industry has evolved to focus on youth and family-oriented machines. Youth ATVs and side-by-sides have either been updated or redesigned in recent years as families take to the outdoors together.

Finally, electric ATVs saw a big year in 2023, as battery technology and early moves away from fossil fuels created demand for EVs. We’ve covered a stack of new electric ATVs over the last year, from big and small manufacturers alike.

For the coming year, ATV Trader expects modest growth to continue, and the push for EVs to stay strong as battery tech evolves. At the same time, safety features will continue to improve. Check out the full report from ATV Trader here.

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