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.
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
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.
|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|
|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|
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