Global Utility Terrain Vehicle (UTV) Market is valued at USD 4.75 Billion in 2021 and expected to reach USD 7.32 Billion by 2028 with a CAGR of 6.39%over the forecast period.
A utility vehicle is a vehicle, generally motorized and designed to hold out a selected task additional effectuality than a traveler vehicle. It sometimes refers to a truck with low sides. UTVs can be useful in transporting equipment and smaller tools, and can work in conjunction with the other retrofitted vehicles. UTVs can also pull plants, shrubs, fertilizers, and compost easily. The small sizes of a UTV make it perfect vehicle to navigate through delicate landscapes without damaging the terrain, all the while having the option to tow additional material or equipment. These tiny vehicles supply unique advantages over the alternative vehicles together with easy entry and exit, navigating over rough and thin terrain, ability to tow and carry tiny loads and good fuel mileage. In addition, UTVs are also easily transportable by truck to a specific project location. UTVs can be great for projects around the farm ranging from plowing snow in the winter to carrying tools for fence repair in the summer.
Utility Terrain Vehicle (UTV) market report is segmented on the basis of type, application, end-user and region & country level. Based upon type, utility terrain vehicle (UTV) market is classified as displacement (CC) <400, displacement (CC) 400800, displacement (CC) >800 and others. Based upon application, utility terrain vehicle (UTV) market is classified into sport UTV, work UTV, and Others.
The regions covered in this Global Utility Terrain Vehicle (UTV) market report are North America, Europe, Asia-Pacific and Rest of the World. On the basis of country level, market of Utility Terrain Vehicle (UTV) is sub divided into U.S., Mexico, Canada, UK, France, Germany, Italy, China, Japan, India, South East Asia, GCC, Africa, etc.
Global Utility Terrain Vehicle (UTV) market report covers prominent players are like,
Rising prominence of enhanced mobility vehicles in construction and agricultural activities for superior traction and stability are driving the growth of utility terrain vehicles market. In addition, increasing use of all terrain vehicles in various sectors such as; entertainment, agriculture, construction, forestry, defence and etc. is driving market growth. However, high cost of these vehicles, owing to use of advance technological features in other vehicles such as display monitors and integrated communication systems may hamper the market growth. In spite of that, increasing use of UTV by hunters and farmers and increase in infrastructure development, in terms of construction, are expected to create various growth opportunities for the manufacturers within the forecast period.
The global utility terrain vehicle (UTV) market is segmented into North America, Europe, Asia-Pacific, Europe, Latin America and the Middle East and Africa. North America region is expected to dominate the global production of all types of utility terrain vehicles. Countries such as U.S. and Canada have a huge range of utility land vehicle producers who are efficient in manufacturing highly efficient utility terrain vehicle with advanced features. The major attraction with respect to utility terrain vehicle in U.S. is the annual motorsport competition that involves completely different formats such as mountain terrain and rocky terrain. North America generated the highest revenue in 2017 owing to the increasing applications in agriculture, defense, and mining in this region. Asia Pacific is expected to witness a lucrative growth during the forecast period owing to fast infrastructure development; increasing urban population and increasing agriculture and manufacturing industry in this region.
Middle East and Africa
|Historical data||2018 - 2021|
|Forecast Period||2022 - 2028|
|Market Size in 2021:||USD 4.75 Billion|
|Base year considered||2021|
|Forecast Period CAGR %:||6.39%|
|Market Size Expected in 2028:||USD 7.32 Billion|
|Tables, Charts & Figures:||175|
|Key Players/Companies||Arctic Cat Inc. (Now part of Textron Inc.), Bobcat Company (Doosan Infracore), Can-Am (BRP), CFMOTO, HISUN Motors, Honda Motor Co., Ltd., John Deere, Kawasaki Heavy Industries, Ltd., Kioti Tractor, Kubota Corporation, Mahindra & Mahindra Ltd., Polaris Industries Inc., Suzuki Motor Corporation, Textron Specialized Vehicles, Yamaha Motor Co., Ltd., Others|
|Segments Covered||By Product Type ,By Application|
|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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