Upsurge In Off-road Adventure Sports And Activities Motivated The Growth Of Utility Task Vehicles (UTV) Market

Upsurge In Off-road Adventure Sports And Activities Motivated The Growth Of Utility Task Vehicles (UTV) Market

According to a new market research report published by Credence Research “Utility Task Vehicles (UTV) Market (by Vehicle Type: Sports UTVs, Load Carrier UTVs and Multipurpose UTVs; By Fuel Type: Conventional Fuel UTVs and Electric UTVs) – Growth, Future Prospects, and Competitive Landscape, 2018-2026”, the utility task vehicles market was valued US$ 4.12 Bn in 2017 and estimated to grow with a CAGR of 6.7% during the forecast period from 2018 to 2026.

The complete report is available at  https://www.credenceresearch.com/report/utility-task-vehicles-utv-market

Market Insights

Utility task vehicles or utility terrain vehicle (UTV) market experienced a momentous growth in both sports and utility sector in past few years and especially in 2016 and 2017. This grabbed the attention of several leading off-road vehicle manufacturers to step into this segment. The step expected to reciprocate with introduction of new breed of UTVs in coming years. UTVs are agiler than traditional sports utility vehicles (SUV) and are packed with capability of carrying more payload than all-terrain vehicle (ATV). UTVs are finding their applications across several end-use verticals besides off-road adventure and recreational activities. Incorporation of UTVs for defense, rescue, surveillance, farming and mining among others is stimulating the sales of UTVs across the globe.

North America and especially the U.S. holds the major share in the overall UTV market. Since the introduction of UTVs in 1970, a substantial uptick in popularity of off-road recreational vehicles allowed the region to dominate over the UTV market. Organization of off-road activities such as rallies and races encouraged both millennial and generation Z to form communities and participate in such events.

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Perpetually increasing use of off-road UTVs for farming and recreational activates in Asia Pacific countries and predominantly in China, Australia and New-Zealand projected to promote the region’s market value with the fastest growth rate throughout the forecast period 2018 to 2026. However, a number of accidental deaths and injuries caused by rough and unsafe driving of these vehicles influence the consumers’ discretion and poses a challenge for the market to grow.

Competitive Insights:

The UTV market is dominated by some of the biggest automotive and utility vehicle manufacturing companies. Major automotive manufacturers identified the market potential and hence are facing fierce competition among each other to claim their market share. Companies are also eyeing to grab defense and military contracts to provide UTV for surveillance and rescue operations. Some of the major UTV manufacturers includes Polaris Industries, Kawasaki Heavy Industries Motorcycle & Engine Company, Suzuki Motor Corporation, Yamaha Motor Company, Limited, Honda Motor Co., Ltd., Deere & Company, Husqvarna AB, Kubota Corporation, Case IH, Bobcat Company, Mahindra & Mahindra Limited, and Caterpillar Inc. among others.

Key Analysis Covered:

  • Latest trends in utility task vehicles (UTV) market and growth opportunities for UTV manufacturers
  • Impact of introduction of electric UTVs on the overall UTV market
  • Different range of products offered by leading manufacturers for different end-use applications
  • Leading and fastest growing segments in terms of vehicle type and fuel type
  • Key geographical regions/ countries for the utility task vehicles (UTV) market
  • Growing popularity of off-road adventure races and rallies and their effect on market value for utility task vehicles (UTV) market

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TOC:

Chapter 3 Market Dynamics
3.1 Product and Market Insights
3.1.1 Global Utility Task Vehicles (UTV) Market Value and Growth, 2016 – 2026, (US$ Bn) (Y-o-Y %)
3.2 Market Dynamics
3.2.1 Market drivers:
3.2.1.1 Growing Popularity of Off-road Adventure Sports
3.2.1.1 Incorporation of UTV in Military Tasks and Applications
3.2.1.2 Introduction of Electric UTV
3.2.2 Market Growth Challenges
3.2.2.1 Confined and Limited Market
3.3 See-Saw Analysis
3.3.1 Impact Analysis of Drivers and Restraints
3.4 Attractive Investment Proposition, 2017
3.5 Competitive Analysis
3.5.1 Market Positioning of Key Vendors, 2017

Chapter 4 Global Utility Task Vehicles (UTV) Market Analysis, by Vehicle Type
4.1 Market Analysis
4.2 Sports UTV
4.2.1 Global Sports Utility Task Vehicles (UTV) Market Value, 2016 – 2026, (US$ Bn) 34
4.3 Load Carrier UTV
4.3.1 Global Load Carrier UTVs , Market Value, 2016 – 2026, (US$ Bn)
4.4 Multi-purpose UTV
4.4.1 Global Shelving-supported Utility Task Vehicles (UTV) Market Value, 2016 – 2026, (US$ Bn)

Chapter 5 Global Utility Task Vehicles (UTV) Market, by Fuel Type
5.1 Market Analysis
5.2 Conventional Fuel UTVs
5.2.1 Global Conventional Fuel UTVs Market Value, 2016 – 2026, (US$ Bn)
5.3 Electric UTVs
5.3.1 Global Electric UTVs Market Value, 2016 – 2026, (US$ Bn)

Chapter 6 North America Utility Task Vehicles (UTV) Market Analysis
6.1 Overview
6.1.1 North America Utility Task Vehicles (UTV) Market Value, 2016 – 2026, (US$ Bn)
6.2 North America Utility Task Vehicles (UTV) Market Analysis, by Vehicle Type, 2016 – 2026 (US$ Bn)
6.2.1 SRC Analysis
6.3 North America Utility Task Vehicles (UTV) Market Analysis, by Fuel Type, 2016 – 2026 (US$ Bn)
6.3.1 SRC Analysis
6.4 North America Utility Task Vehicles (UTV) Market Analysis, by Region/Country, 2016 – 2026 (US$ Bn)
6.4.1 U.S.
6.4.1.1 U.S. Utility Task Vehicles (UTV) Market Analysis, by Vehicle Type, 2016 – 2026 (US$ Bn)
6.4.1.2 U.S. Utility Task Vehicles (UTV) Market Analysis, by Fuel Type, 2016 – 2026 (US$ Bn)
6.4.2 Rest of North America
6.4.2.1 Rest of North America Utility Task Vehicles (UTV) Market Analysis, by Vehicle Type, 2016 – 2026 (US$ Bn)
6.4.2.2 Rest of North America Utility Task Vehicles (UTV) Market Analysis, by Fuel Type, 2016 – 2026 (US$ Bn) …

Chapter 10 Company Profiles
10.1 Polaris Industries
10.1.1 Polaris Industries: Company Snapshot (Company Details, Geographical Presence, Product Portfolio, Key Industries Served, Recent Developments)
10.2 Kawasaki Heavy Industries Motorcycle & Engine Company
10.2.1 Kawasaki Heavy Industries Motorcycle & Engine Company: Company Snapshot (Company Details, Geographical Presence, Product Portfolio, Industries Served, Recent Developments)
10.3 Suzuki Motor Corporation
10.3.1 Suzuki Motor Corporation: Company Snapshot (Company Details, Geographical Presence, Product Portfolio, Industries Served, Recent Developments)
10.4 Yamaha Motor Company, Limited
10.4.1 Yamaha Motor Company, Limited: Company Snapshot (Company Details, Geographical Presence, Product Portfolio, Industries Served, Recent Developments)
10.5 Honda Motor Co., Ltd.
10.5.1 Honda Motor Co., Ltd.: Company Snapshot (Company Details, Geographical Presence, Product Portfolio, Industries Served, Recent Developments)
10.6 Deere & Company
10.6.1 Deere & Company: Company Snapshot (Company Details, Geographical Presence, Product Portfolio, Industries Served, Recent Developments)
10.7 Husqvarna AB
10.7.1 Husqvarna AB: Company Snapshot (Company Details, Geographical Presence, Product Portfolio, Industries Served, Recent Developments)
10.8 Kubota Corporation
10.8.1 Kubota Corporation: Company Snapshot (Company Details, Geographical Presence, Product Portfolio, Industries Served, Recent Developments)
10.9 Case IH
10.9.1 Case IH: Company Snapshot (Company Details, Geographical Presence, Product Portfolio, Industries Served, Recent Developments)
10.10 Bobcat Company …

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