Utility Terrain Vehicle Market - Global Industry Analysis 2014 - 2018 and Forecast 2019 - 2029

Utility Terrain Vehicle  Market
  • Report code : PMRREP31082 |
  • Industry : Automotive |
  • To Be Published : Dec-2020 |
  • Status : Work in progress |
  • Format : Utility Terrain Vehicle  Market Utility Terrain Vehicle  Market Utility Terrain Vehicle  Market Utility Terrain Vehicle  Market

Utility Terrain Vehicle Market: Introduction

The Utility terrain vehicle is a type of motorized vehicle that is specifically designed to carry out a specific task with more efficacy compared to the general-purpose vehicle or passenger vehicles. Utility terrain vehicle is often known as side by side (S-X-S), recreational off-highway vehicle (ROV), and Multipurpose off-highway utility vehicle (MOHUV). Utility terrain vehicle is an off-road vehicle that has seating capacity between two to six people. It is designed for rougher terrain, hauling, and more workhorse sort of works. Utility terrain vehicle becomes popular for recreational activities in the forest services such as trail maintenance, prescribed burning operations, and pesticides applications. The majority of the utility vehicles are equipped with a roll-over protection system as well as hardtops, windshields, and cab enclosures. Increasing trailing adventure and racing events are making utility terrain vehicle more popular in the sports.

Utility Terrain Vehicle Market: Dynamics

Globally, the utility terrain vehicle market is primarily driven by its capacity to work in harsh terrain or landscapes, which is an imperious factor in the military, mining, and forest recreational activities. Utility terrain vehicle can haul the equipment loads and stay them above the ground at terrain surface. Furthermore, its snappy portability and high freight conveying limit on the hard ground surface are further thrusts the utility terrain vehicle market development and adoption across various industries such as military, sports, and forest in the upcoming years. Furthermore, rising prominence for enhanced mobility vehicles in the mining and construction activities for superior traction and stability is also likely to intensify the adoption of utility terrain vehicle in the coming decade. In addition, the growing consumer proclivity towards offload recreational activities in various sports and adventurous events are expected to bolster the demand for utility terrain vehicle across the globe.

However, rollover crash such as inadequate occupant protection, inadequate lateral stability, and undesirable steering characteristics are anticipated to hamper the utility terrain vehicle market growth in the coming years. Also, growing fatalities rate by off-road recreational activities is one of the major barriers for the utility terrain vehicle market growth across the world.

Utility Terrain Vehicle Market: Segmentation

The global utility terrain vehicle market can be segmented on the basis of product type, fuel type, end-use, and region.

On the basis of displacement, the utility terrain vehicle market has been segmented as:

  • Upto 400 CC
  • Between 400-800 CC
  • Above 800 CC

On the basis of fuel type, the utility terrain vehicle market has been segmented as:

  • Gasoline
  • Diesel
  • Electric 

On the basis of end-use, the utility terrain vehicle market has been segmented as:

  • Sports
  • Military
  • Recreational Activities
  • Mining
  • Others

Utility Terrain Vehicle Market: Regional Outlook

From the regional perspective, North America is estimated to account for more than half of the share in the global utility terrain vehicle market in terms of production and demand. The vast presence of the adventure trails and parks makes North America as a lucrative region for the utility terrain vehicle market. Moreover, the US annual motorsport competition which involves different formats such as rocky terrain and mountain terrain is one of the major attractions for the utility terrain vehicle market. Furthermore, Asia Pacific followed by Europe are expected to witness prominent growth in the global utility terrain vehicle market in the near future. Rising adventure activities, advanced vehicle customization, and new product development are the key driving factor for the Asia Pacific utility terrain vehicle market. The Middle East & Africa and Latin America are projected to register healthy growth in the global utility terrain vehicle market in the coming years. Growing demand for forestry and mining activities may positively sway market growth in those regions.

Utility Terrain Vehicle Market: Market participants

Some of the key market participants identified across the value chain of the utility terrain vehicle market are:

  • Arctic Cat
  • Honda Motor Company, Ltd.
  • Kawasaki Motors Corp., U.S.A.
  • Deere & Company
  • Mahindra and Mahindra Limited
  • Suzuki Motor Corporation
  • Nikola Motor Company
  • Yamaha Motor Corporation, U.S.A.
  • Ingersoll Rand corporation
  • Argo
  • Kwang Yang Motor Co., Ltd.
  • Polaris Inc.

The research report presents a comprehensive assessment of the utility terrain vehicle market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated utility terrain vehicle market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to market segments such as geographies, application, and industry.

The report covers exhaustive analysis on:

  • Utility terrain vehicle Market Segments
  • Utility terrain vehicle Market Dynamics
  • Utility terrain vehicle Market Size
  • Utility terrain vehicle Market Supply/Demand
  • Utility terrain vehicle Current Trends/Issues/Challenges
  • Utility terrain vehicle Competition & Companies involved
  • Utility terrain vehicle Value Chain

Regional analysis includes:

  • North America (U.S., Canada)
  • Latin America (Mexico, Brazil)
  • Western Europe (Germany, Italy, France, U.K, Spain)
  • Eastern Europe (Poland, Russia)
  • Asia Pacific (China, India, ASEAN, Australia & New Zealand)
  • Japan
  • Middle East and Africa (GCC Countries, S. Africa, Northern Africa)

The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various factors on Utility terrain vehicle market segments and geographies.

Report Highlights:

  • Detailed overview of parent market
  • Changing market dynamics in the industry
  • In-depth market segmentation
  • Historical, current, and projected market size in terms of volume and value
  • Recent industry trends and developments
  • Competitive landscape
  • Strategies of key players and products offered
  • Potential and niche segments, geographical regions exhibiting promising growth
  • A neutral perspective on market performance
  • Must-have information for market players to sustain and enhance their market footprint

Utility Terrain Vehicle Market

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