According to the research report titled ‘U.S. Utility Terrain Vehicle (UTV) Market Size By Displacement, By Application, Industry Analysis Report, Regional Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2020 - 2026‘, available with Market Study Report, U.S. utility terrain vehicle market is anticipated to witness remunerative growth during 2020-2026.
 

Rising demand from military, increasing participation and expenditure in off-road recreational activities, growing popularity of off-road sports events, and high investment in R&D activities are the major growth drivers of U.S. utility terrain vehicle market.  
 

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Military applications are likely to sustain U.S. utility terrain vehicle (UTV) market growth in the upcoming years. UTVs feature a modular design that cater to the necessities of United States and international special operations, and light & expeditionary infantry forces. These vehicles are already deployed across the globe among U.S. military branches and special operation forces along with other allied militaries.
 

Elaborating further on the application spectrum, sports, utility, and recreation are the other segments of U.S. utility terrain vehicle market. The recreation segment is likely to gain considerable traction, expanding at a CAGR of 5% during forecast period owing to rising consumer spending in leisure and adventure activities.
 

With regards to displacement, U.S. utility terrain vehicle market is bifurcated into above 800cc, 400 - 800cc, and below 400cc. Among these, the 400 - 800cc segment is predicted to register a growth rate of 6.5% due to rising adoption of UTVs in utility applications. Further, several benefits of UTVs such as adequate storage space for camping supplies, hunting gear, packing tools, and coolers, along with applicability in agriculture industry due to their power and versatility strengthens the demand for these vehicles.
 

Based on regional frame of reference, Texas utility terrain vehicle market is expected to record a y-o-y growth rate of 8.5% during the forecast period, mainly due to rising disposable income among individuals and increasing recreational expenditure.
 

Major players influencing U.S. utility terrain vehicle market trends are BMS Motorsports, Inc., Hisun Motors Corp., Yamaha Motor Co., Ltd., Kawasaki Motors Corp., Zhejiang CF Moto Power Co., Ltd., Honda Motor Co., Ltd., Massimo Motor Sports, LLC, Bombardier Recreational Products (BRP), Arctic Cat, Inc., Deere & Company, KYMCO Global, Caterpillar Inc., and Polaris Inc.