Utility Task Vehicles Market

Global Utility Task Vehicles (UTV) Market is valued at USD 5.46 Billion in 2021 and expected to reach USD 8.6 Billion by 2028 with the CAGR of 6.70% over the forecast period. 

Scope of the Report

Utility task vehicles (UTV) market report published by the Brandessence Market Research and Consulting Pvt. Ltd. provides the detail information about Utility Task Vehicles (UTV) Market from various aspects. This report consists of drivers, challenges and opportunities which help the market to grow over the analysis period and recent trends which supports the growth of market. This report consists of regional segmentation with product type and applications.

North America, US, Mexico, Chily, Canada, Europe, UK, France, Germany, Italy, Asia Pacific, China, South Korea, Japan, India, Southeast Asia, Latin America, Brazil, The Middle East and Africa, GCC, Africa, Rest of Middle East and Africa

Utility Task Vehicles (UTV) Market Key Players

• Arctic Cat Inc. (now part of Textron Inc.)
• BMS Motorsports
• Bobcat Company (a division of Doosan Group)
• BRP Inc. (Can-Am)
• CFMOTO
• HISUN Motors Corporation
• Honda Motor Co., Ltd.
• John Deere
• Kawasaki Heavy Industries, Ltd.
• Kioti Tractor (a division of Daedong Industrial Co., Ltd.)
• Kubota Corporation
• Mahindra & Mahindra Ltd.
• Polaris Industries Inc.
• Suzuki Motor Corporation
• Yamaha Motor Co., Ltd.
• Others

Utility Task Vehicles (UTV) Segmentation

By UTV Type

• Sport UTV
• Utility UTV
• Recreational UTV
• Military UTV
• Industrial UTV

By Fuel Type

• Gasoline
• Diesel
• Electric

By Seating Capacity

• 1-2 passengers
• 3-4 passengers
• 5 or more passengers

By Engine Power

• Below 500cc
• 500cc - 800cc
• Above 800cc

By Drive System

• 2WD (Two-Wheel Drive)
• 4WD (Four-Wheel Drive)
• 6WD (Six-Wheel Drive)
• 8WD (Eight-Wheel Drive)

Market Analysis Of Utility Task Vehicles (UTV) Market

A utility vehicle is a vehicle that is designed to perform wide range of operations in different sectors including logistics and supply chain, green industry and lawn care industry. Its high capacity and versatility have increased its popularity for various applications such as; in rural and urban settings for a variety of lawn care, agricultural, construction, and industrial applications. Utility task vehicles are combined with continuously variable transition system(CVT), as it provides the high gear ratios unlike mechanical transition. Electric utility task vehicles require much less maintenance than their traditional equivalents in farming industry.

Utility task vehicles market is expected to witness a significant growth in the coming few years owing to its application in several sectors such as farming industry, logistics, luggage transportation and others. In addition, its load-carrying is extensively used for agricultural applications and farmers globally able to identify the potential of UTV for carrying loads, tools and tow agricultural equipments which is further boost growth of this market in the coming few years. Advanced electrification of the automotive powered vehicles can be one of the most promising opportunities of utility vehicle market in near future.

By Regional & Country Level

North America

• U.S
• Canada

Europe

• U.K
• France
• Germany
• Italy

Asia Pacific

• China
• Japan
• India
• Southeast Asia

Latin America

• Brazil
• Mexico

Middle East and Africa

• GCC
• Africa
• Rest of Middle East and Africa

Report Analysis	Details
Historical data	2016 - 2021
Forecast Period	2022 - 2029
Market Size in 2021:	USD 5.46 Billion
Base year considered	2021
Forecast Period CAGR %:	6.70%
Market Size Expected in 2028:	USD 8.6 Billion
Tables, Charts & Figures:	175
Pages	300
Key Players/Companies	Arctic Cat Inc. (now part of Textron Inc.), BMS Motorsports, Bobcat Company (a division of Doosan Group), BRP Inc. (Can-Am), CFMOTO, HISUN Motors Corporation, Honda Motor Co., Ltd., John Deere, Kawasaki Heavy Industries, Ltd., Kioti Tractor (a division of Daedong Industrial Co., Ltd.), Kubota Corporation, Mahindra & Mahindra Ltd., Polaris Industries Inc., Suzuki Motor Corporation, Yamaha Motor Co., Ltd., Others.
Segments Covered	By Vehicle Type,By Fuel Type
Regional Analysis	North America, U.S., Mexico, Canada, Europe, UK, France, Germany, Italy, Asia Pacific, China, Japan, India, Southeast Asia, South America, Brazil, Argentina, Columbia, The Middle East and Africa, GCC, Africa, Rest of the Middle East and Africa