Global Utility Task Vehicles (Sports UTVs, Load Carrier UTVs and Multipurpose UTVs) Market 2018-2026 - ResearchAndMarkets.com
DUBLIN--(BUSINESS WIRE)--Sep 27, 2018--The “Global Utility Task Vehicles (UTV) Market (2018-2026): Market Size, Market Share, Application Analysis, Regional Outlook, Growth Trends, Key Players, Competitive Strategies and Forecasts” report has been added to ResearchAndMarkets.com’s offering.
The utility task vehicles market was valued US$ 4.12 Billion in 2017 and estimated to grow with a CAGR of 6.7% during the forecast period from 2018 to 2026.
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.
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.
Key Topics Covered:
Chapter 1 Preface
Chapter 2 Executive Summary
Chapter 3 Market Dynamics
Chapter 4 Global Utility Task Vehicles (UTV) Market Analysis, by Vehicle Type
Chapter 5 Global Utility Task Vehicles (UTV) Market, by Fuel Type
Chapter 6 North America Utility Task Vehicles (UTV) Market Analysis
Chapter 7 Europe Utility Task Vehicles (UTV) Market Analysis
Chapter 8 Asia Pacific Utility Task Vehicles (UTV) Market Analysis
Chapter 9 Rest of the World Utility Task Vehicles (UTV) Market Analysis
Chapter 10 Company ProfilesPolaris 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 Caterpillar Inc.
For more information about this report visit https://www.researchandmarkets.com/research/w5zxxx/global_utility?w=4
View source version on businesswire.com:https://www.businesswire.com/news/home/20180927005866/en/
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SOURCE: Research and Markets
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PUB: 09/27/2018 03:33 PM/DISC: 09/27/2018 03:33 PM