Global Utility Terrain Vehicles (UTV) Market to Grow Considerably By 2025

April 17, 2020


According to the research report titled ‘Utility Terrain Vehicles (UTV) Market Size By Displacement By Application  Industry Analysis Report, Regional Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2019 – 2025’, available with Market Study Report LLC, the utility terrain vehicles (UTV) market is predicted to record a remunerative growth rate during 2019-2025.
 

Rising popularity of leisure & sports activities along with availability of various camping locations are driving the growth of utility terrain vehicles industry. Increasing off-road racing events, improving economic conditions and rising per capita income are further aiding the market expansion. High concentration of adventure clubs conducting fund-raising activities and increased participation are also stimulating the industry outlook.
 

Rising adoption of enhanced mobility vehicles for construction & agricultural activities along with shifting focus towards modern utility vehicles owing to better reliability and durability are favoring the market scenario. Advancements in vehicle have led to the development of UTVs with improved suspension, transmission, overall performance and convenience. Strict regulatory scenarios pertaining to safe riding and lower vehicle emissions are creating lucrative growth avenues for the overall market. 
 

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In terms of displacement, above 800cc utility terrain vehicles market segment is presumed to expand significantly during the forecast period. These vehicles offer better power delivery and improved volumetric efficiencies. Growing inclination towards higher displacement engines for sports along with development of advanced utility vehicles are fueling the segmental share.
 

Based on the application spectrum, the report states that the military segment is expected to grow substantially during the study period. Rising utilization of military utility vehicles for combat and tactical operations along with advancements in side-by-side vehicles are contributing towards the growth of the segment.
 

Considering the geographical landscape, North America UTV market is set to record a substantial growth rate through 2025, primarily due to high concentration of various adventure clubs and trails. Rapid urbanization, increasing construction activities and rising per capita income are also promoting the business scenario in North America.
 

The prominent companies in utility terrain vehicles industry are Bombardier Recreational Products, Honda Motor Co. Ltd., Kawasaki Motor Corp., Kubota Corp., Polaris Industries, Deere & Co. (John Deere) and Artic Cat Inc. among others.


Frequently Asked Questions (FAQ) :

Rising popularity of leisure and sports activities along with availability of various camping locations are driving the growth of the utility terrain vehicles industry.
High concentration of adventure clubs and trails, rapid urbanization, increasing construction activities and rising per capita income are promoting the business scenario in North America.
Established industry players are Bombardier Recreational Products, Honda Motor Co. Ltd., Kawasaki Motor Corp., Kubota Corp., Polaris Industries, Deere & Co. (John Deere) and Artic Cat Inc among others.