Utility Terrain Vehicle (UTV) Market Research Report – Forecast to 2030

Utility Terrain Vehicle (UTV) Market Research Report: Information by Product Type (Displacement (CC): ≤ 400CC, Displacement (CC): 400-800 CC and Displacement (CC): ≥ 800 CC), Application (Work UTV, Sport UTV, Others) and Region - Forecast till 2030

ID: MRFR/AM/4660-HCR | February 2021 | Region: Global | 132 Pages         

Table of content

1 Executive Summary

2 Scope of the Report

2.1 Market Definition

2.2 Scope of the Study

2.2.1 Definition

2.2.2 Research Objective

2.2.3 Assumptions

2.2.4 Limitations

2.3 Research Process

2.3.1 Primary Research

2.3.2 Secondary Research

2.4 Market size Estimation

2.5 Forecast Model


3 Market Landscape

3.1 Porter’s Five Forces Analysis

3.1.1 Threat of New Entrants

3.1.2 Bargaining power of buyers

3.1.3 Bargaining power of suppliers

3.1.4 Threat of substitutes

3.1.5 Segment rivalry

3.2 Value Chain/Supply Chain Analysis


4 Market Dynamics

4.1 Introduction

4.2 Market Drivers

4.3 Market Restraints

4.4 Market Opportunities

4.5 Market Trends



5 Global Utility Terrain Vehicle market, By Product Type

5.1 Introduction

5.2 Displacement (CC): ≤ 400

5.2.1 Market Estimates & Forecast, 2020-2027

5.2.2 Market Estimates & Forecast by Region, 2020-2027

5.3 Displacement (CC): 400-800

5.3.1 Market Estimates & Forecast, 2020-2027

5.3.2 Market Estimates & Forecast by Region, 2020-2027

5.4 Displacement (CC): ≥ 800

5.4.1 Market Estimates & Forecast, 2020-2027

5.4.2 Market Estimates & Forecast by Region, 2020-2027

6 Global Utility Terrain Vehicle market, By Application

6.1 Introduction

6.2 Work UTV

6.2.1 Market Estimates & Forecast, 2020-2027

6.2.2 Market Estimates & Forecast by Region, 2020-2027

6.3 Sport UTV

6.3.1 Market Estimates & Forecast, 2020-2027

6.3.2 Market Estimates & Forecast by Region, 2020-2027

6.4 others

6.4.1 Market Estimates & Forecast, 2020-2027

6.4.2 Market Estimates & Forecast by Region, 2020-2027

7 Global Utility Terrain Vehicle market, By Region

7.1 Introduction

7.2 North America

7.2.1 Market Estimates & Forecast, 2020-2027

7.2.2 Market Estimates & Forecast by Product Type, 2020-2027

7.2.3 Market Estimates & Forecast by Application, 2020-2027

7.2.4 The U.S

7.2.4.1 Market Estimates & Forecast, 2020-2027

7.2.4.2 Market Estimates & Forecast by Product Type, 2020-2027

7.2.4.3 Market Estimates & Forecast by Application, 2020-2027

7.2.5 Canada

7.2.5.1 Market Estimates & Forecast, 2020-2027

7.2.5.2 Market Estimates & Forecast by Product Type, 2020-2027

7.2.5.3 Market Estimates & Forecast by Application, 2020-2027

7.3 Europe

7.3.1 Market Estimates & Forecast, 2020-2027

7.3.2 Market Estimates & Forecast by Product Type, 2020-2027

7.3.3 Market Estimates & Forecast by Application, 2020-2027

7.3.4 U.K

7.3.4.1 Market Estimates & Forecast, 2020-2027

7.3.4.2 Market Estimates & Forecast by Product Type, 2020-2027

7.3.4.3 Market Estimates & Forecast by Application, 2020-2027

7.3.5 Germany

7.3.5.1 Market Estimates & Forecast, 2020-2027

7.3.5.2 Market Estimates & Forecast by Product Type, 2020-2027

7.3.5.3 Market Estimates & Forecast by Application, 2020-2027

7.3.6 France

7.3.6.1 Market Estimates & Forecast, 2020-2027

7.3.6.2 Market Estimates & Forecast by Product Type, 2020-2027

7.3.6.3 Market Estimates & Forecast by Application, 2020-2027

7.3.7 Italy

7.3.7.1 Market Estimates & Forecast, 2020-2027

7.3.7.2 Market Estimates & Forecast by Product Type, 2020-2027

7.3.7.3 Market Estimates & Forecast by Application, 2020-2027

7.3.8 Rest of Europe

7.3.8.1 Market Estimates & Forecast, 2020-2027

7.3.8.2 Market Estimates & Forecast by Product Type, 2020-2027

7.3.8.3 Market Estimates & Forecast by Application, 2020-2027

7.4 Asia Pacific

7.4.1 Market Estimates & Forecast, 2020-2027

7.4.2 Market Estimates & Forecast by Product Type, 2020-2027

7.4.3 Market Estimates & Forecast by Application, 2020-2027

7.4.4 China

7.4.4.1 Market Estimates & Forecast, 2020-2027

7.4.4.2 Market Estimates & Forecast by Product Type, 2020-2027

7.4.4.3 Market Estimates & Forecast by Application, 2020-2027

7.4.5 Japan

7.4.5.1 Market Estimates & Forecast, 2020-2027

7.4.5.2 Market Estimates & Forecast by Product Type, 2020-2027

7.4.5.3 Market Estimates & Forecast by Application, 2020-2027

7.4.6 India

7.4.6.1 Market Estimates & Forecast, 2020-2027

7.4.6.2 Market Estimates & Forecast by Product Type, 2020-2027

7.4.6.3 Market Estimates & Forecast by Application, 2020-2027

7.4.7 Rest of Asia Pacific

7.4.7.1 Market Estimates & Forecast, 2020-2027

7.4.7.2 Market Estimates & Forecast by Product Type, 2020-2027

7.4.7.3 Market Estimates & Forecast by Application, 2020-2027

7.5 Rest of the World

7.5.1 Market Estimates & Forecast, 2020-2027

7.5.2 Market Estimates & Forecast by Product Type, 2020-2027

7.5.3 Market Estimates & Forecast by Application, 2020-2027

8 Competitive Landscape


9 Company Profile

9.1 Polaris Industries, Inc. (U.S.)

9.1.1 Company Overview

9.1.2 Product/Services Offering

9.1.3 Financial Overview

9.1.4 Key Developments

9.1.5 Strategy

9.1.6 SWOT Analysis

9.2 Kawasaki Heavy Industries Ltd. (Japan)

9.2.1 Company Overview

9.2.2 Product /Services Offering

9.2.3 Financial Overview

9.2.4 Key Developments

9.2.5 Strategy

9.2.6 SWOT Analysis

9.3 John Deere (U.S.)

9.3.1 Company Overview

9.3.2 Product /Services Offering

9.3.3 Financial Overview

9.3.4 Key Developments

9.3.5 Strategy

9.3.6 SWOT Analysis

9.4 Yamaha Motor Company Limited (Japan)

9.4.1 Company Overview

9.4.2 Product /Services Offering

9.4.3 Financial Overview

9.4.4 Key Developments

9.4.5 Strategy

9.4.6 SWOT Analysis

9.5 Kubota Corporation (Japan)

9.5.1 Company Overview

9.5.2 Product /Services Offering

9.5.3 Financial Overview

9.5.4 Key Developments

9.5.5 Strategy

9.5.6 SWOT Analysis

9.6 Hisun Motors Corp (U.S.)

9.6.1 Company Overview

9.6.2 Product /Services Offering

9.6.3 Financial Overview

9.6.4 Key Developments

9.6.5 Strategy

9.6.6 SWOT Analysis

9.7 Arctic Cat (U.S.)

9.7.1 Company Overview

9.7.2 Product /Services Offering

9.7.3 Financial Overview

9.7.4 Key Developments

9.7.5 Strategy

9.7.6 SWOT Analysis

9.8 Honda Motor Company, Ltd. (Japan)

9.8.1 Company Overview

9.8.2 Product /Services Offering

9.8.3 Financial Overview

9.8.4 Key Developments

9.8.5 Strategy

9.8.6 SWOT Analysis

9.9 BRP (Canada)

9.9.1 Company Overview

9.9.2 Product /Services Offering

9.9.3 Financial Overview

9.9.4 Key Developments

9.9.5 Strategy

9.9.6 SWOT Analysis

9.9 Kwang Yang Motor Co, Ltd (Taiwan)

9.9.1 Company Overview

9.9.2 Product /Services Offering

9.9.3 Financial Overview

9.9.4 Key Developments

9.9.5 Strategy

9.9.6 SWOT Analysis


List of Tables

Table 1 Global Utility Terrain Vehicle market: By Region, 2020-2027

Table 2 North America Utility Terrain Vehicle market: By Country, 2020-2027

Table 3 Europe Utility Terrain Vehicle market: By Country, 2020-2027

Table 4 Asia-Pacific Utility Terrain Vehicle market: By Country, 2020-2027

Table 5 RoW Utility Terrain Vehicle market: By Country, 2020-2027

Table 6 Global Utility Terrain Vehicle market, by Product Type: By Regions, 2020-2027

Table 7 North America Utility Terrain Vehicle market, by Product Type: By Country, 2020-2027

Table 8 Europe Utility Terrain Vehicle market, by Product Type: By Country, 2020-2027

Table 9 Asia Pacific Utility Terrain Vehicle market, by Product Type: By Country, 2020-2027

Table 10 RoW Utility Terrain Vehicle market, by Product Type: By Country, 2020-2027

Table 11 Global Utility Terrain Vehicle market, by Application, By Regions, 2020-2027

Table 12 North America Utility Terrain Vehicle market, by Application, By Country, 2020-2027

Table 13 Europe Utility Terrain Vehicle market, by Application, By Country, 2020-2027

Table 14 Asia Pacific Utility Terrain Vehicle market, by Application, By Country, 2020-2027

Table 15 RoW Utility Terrain Vehicle market, by Application, By Country, 2020-2027

Table 16 Global Utility Terrain Vehicle market: By Region, 2020-2027

Table 17 Global Utility Terrain Vehicle market: By Region, 2020-2027

Table 18 Global Utility Terrain Vehicle market: By Region, 2020-2027

Table 19 North America Utility Terrain Vehicle market, By Country

Table 20 North America Utility Terrain Vehicle market, by Product Type

Table 21 North America Utility Terrain Vehicle market, By Application

Table 22 Europe: Utility Terrain Vehicle market, By Country

Table 23 Europe: Utility Terrain Vehicle market, by Product Type

Table 24 Europe: Utility Terrain Vehicle market, By Application

Table 25 Asia-Pacific: Utility Terrain Vehicle market, By Country

Table 26 Asia-Pacific: Utility Terrain Vehicle market, by Product Type

Table 27 Asia-Pacific: Utility Terrain Vehicle market, By Application

Table 28 RoW: Utility Terrain Vehicle market, By Region

Table 29 RoW Utility Terrain Vehicle market, by Product Type

Table 30 RoW Utility Terrain Vehicle market, By Application





List of Figures

FIGURE 1 RESEARCH PROCESS OF MRFR

FIGURE 2 TOP DOWN & BOTTOM UP APPROACH

FIGURE 3 MARKET DYNAMICS

FIGURE 4 IMPACT ANALYSIS: MARKET DRIVERS

FIGURE 5 IMPACT ANALYSIS: MARKET RESTRAINTS

FIGURE 6 PORTER’S FIVE FORCES ANALYSIS

FIGURE 7 VALUE CHAIN ANALYSIS

FIGURE 8 GLOBAL UTILITY TERRAIN VEHICLE MARKETSHARE, BY PRODUCT TYPE, 2020 (%)

FIGURE 9 GLOBAL UTILITY TERRAIN VEHICLE MARKET, BY PRODUCT TYPE, 2020-2027 (USD MILLION)

FIGURE 10 GLOBAL UTILITY TERRAIN VEHICLE MARKETSHARE, BY APPLICATION, 2020 (%)

FIGURE 11 GLOBAL UTILITY TERRAIN VEHICLE MARKET, BY APPLICATION, 2020-2027 (USD MILLION)

FIGURE 12 GLOBAL UTILITY TERRAIN VEHICLE MARKETSHARE (%), BY REGION, 2020

FIGURE 13 GLOBAL UTILITY TERRAIN VEHICLE MARKET, BY REGION, 2020-2027 (USD MILLION)

FIGURE 14 NORTH AMERICA UTILITY TERRAIN VEHICLE MARKETSHARE (%), 2020

FIGURE 15 NORTH AMERICA UTILITY TERRAIN VEHICLE MARKET BY COUNTRY, 2020-2027 (USD MILLION)

FIGURE 16 EUROPE UTILITY TERRAIN VEHICLE MARKET SHARE (%), 2020

FIGURE 17 EUROPE UTILITY TERRAIN VEHICLE MARKET BY COUNTRY, 2020-2027 (USD MILLION)

FIGURE 18 ASIA-PACIFIC UTILITY TERRAIN VEHICLE MARKET SHARE (%), 2020

FIGURE 19 ASIA-PACIFIC UTILITY TERRAIN VEHICLE MARKET BY COUNTRY, 2020-2027 (USD MILLION)

FIGURE 20 REST OF THE WORLD UTILITY TERRAIN VEHICLE MARKET SHARE (%), 2020

FIGURE 21 REST OF THE WORLD UTILITY TERRAIN VEHICLE MARKET BY COUNTRY, 2020-2027 (USD MILLION)

Utility Terrain Vehicle (UTV) Market

Utility Terrain Vehicle (UTV) Market is projected to be worth USD 8.65 billion by 2027, registering a CAGR of 6.32% during the forecast period (2021 - 2027)

Segmentation

By Product Type Displacement (Cc): ≤ 400 Cc Displacement (Cc): 400 800 Cc Displacement (Cc): ≥ 800 Cc
By Application Work Utv Sport Utv Others

Key Players

  • Polaris Industries Inc. (U.S.)
  • Kawasaki Heavy Industries Ltd. (Japan)
  • John Deere (U.S.)
  • Yamaha Motor Company Limited (Japan)
  • Kubota Corporation (Japan)
  • Hisun Motors Corp (U.S.)
  • Arctic Cat (U.S.)
  • Honda Motor Company Ltd. (Japan)
  • BRP (Canada)
  • Kwang Yang Motor Co Ltd (Taiwan)

Drivers

  • New product launches and R&D Amongst major key Players
  • Increasing consumer preference toward offload recreational activities
Speak to Analyst Request a Free Sample

Utility Terrain Vehicle Market Synopsis:


Utility Terrain Vehicle (UTV) Market is projected to be worth USD 8.65 billion by 2027, registering a CAGR of 6.32% during the forecast period (2021 - 2027), The market was valued at USD 5.25 billion in 2020.


Utility terrain vehicles are majorly driven by their capabilities of working as off-road vehicles and carrying equipment. Functioning off-road needs the unit to operate around obstacles and over rough terrains. Carrying equipment needs the strength to haul a load and the ability to stay above softer ground. These vehicles are majorly equipped with roll-over protection system. Increasing consumer preference toward offload recreational activities is leading to an increase in adoption of the utility terrain vehicles market. Utility terrain vehicles are majorly used for the recreational purposes. These are also being used in various sectors such as military and defense, forestry, and agriculture.


However, the growth of this market is hampered by adverse effects caused during a rollover crash such as inadequate lateral stability, inadequate occupant protection and undesirable steering characteristics. Therefore, utility terrain vehicle market has seen remarkable growth in the global market and it has been observed that, it is expected to expand with the CAGR of ~6%.


A utility terrain vehicle (UTV) refers to a vehicle that is designed specifically for efficiently performing tasks as compared to the general-purpose vehicle. These vehicles are also known as four-wheel drive off-road vehicles and side-by-side vehicles. They have a capacity of two to six persons.


The Prominent Players


The prominent players in the utility terrain vehicle market include Polaris Industries, Inc. (U.S.), Kawasaki Heavy Industries Ltd. (Japan), John Deere (U.S.), Yamaha Motor Company Limited (Japan), and Kubota Corporation (Japan). Hisun Motors Corp (U.S.), Arctic Cat (U.S.), Honda Motor Company, Ltd. (Japan), BRP (Canada) and Kwang Yang Motor Co, Ltd (Taiwan) are among others. 


Utility Terrain Vehicle (UTV) Market Segments


Utility Terrain Vehicle (UTV) Market Segments


Geographically, the global utility terrain vehicle market has been divided into four major regions such as North America, Europe, Asia Pacific, and Rest of the World. North America region is expected to dominate the global production and sales of all types of utility terrain vehicle. Countries such as U.S. and Canada have a vast range of utility terrain vehicle manufacturers who are efficient in manufacturing highly efficient utility terrain vehicle with advanced features. Utility terrain vehicle manufacturers develop different vehicles, which can be used in different scenarios and landscapes. The biggest attraction with respect to utility terrain vehicle in U.S. is the annual motorsport competition, which involves different formats such as mountain terrain and rocky terrain. Thus, such competitions also cause significant growth in the tourism industry, thereby driving the growth of the market.


The report for Global Utility Terrain Vehicle market of Market Research Future covers extensive primary research. This is accompanied with detailed analysis of qualitative and quantitative aspects by various industry experts and key opinion leaders to gain deeper insights into the market and industry performance. The report gives a clear picture of the current market scenario, which includes the historical and forecast market size, in terms of value and volume, technological advancement, macroeconomic, and governing factors of the market. The report provides comprehensive information about the strategies of the top companies in the industry, along with a broad study of the different market segments and regions.



Report Scope:
Report Attribute/Metric Details
  Market Size

  • 2027: USD 8.65 Billion
  • 2030 : Significant value
  •   CAGR   6.32% CAGR (2022 to 2030)
      Base Year   2021
      Forecast Period   2022 to 2030
      Historical Data   2019 & 2020
      Forecast Units   Value (USD Million)
      Report Coverage   Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
      Segments Covered   Product Type, Application
      Geographies Covered   North America, Europe, Asia-Pacific, and Rest of the World (RoW)
      Key Vendors   Polaris Industries, Inc. (U.S.), Kawasaki Heavy Industries Ltd. (Japan), John Deere (U.S.), Yamaha Motor Company Limited (Japan), and Kubota Corporation (Japan). Hisun Motors Corp (U.S.), Arctic Cat (U.S.), Honda Motor Company, Ltd. (Japan), BRP (Canada) and Kwang Yang Motor Co, Ltd (Taiwan)
      Key Market Opportunities   New product launches and R&D Amongst major key Players
      Key Market Drivers   Increasing consumer preference toward offload recreational activities


    Speak to Analyst Ask for Customization

    Frequently Asked Questions (FAQ) :

    The utility terrain vehicle (UTV) market can thrive at 6.32% CAGR by 2027.

    The utility terrain vehicle (UTV) market can value at a decent number.

    Arctic Cat (U.S.), BRP (Canada), Honda Motor Company, Ltd. (Japan), and Kwang Yang Motor Co, Ltd (Taiwan) are reputed names in the utility terrain vehicle (UTV) market.

    The growing agricultural applications of utility terrain vehicles can prompt their global market growth.

    Inadequate lateral stability of utility terrain vehicle can impede its market expansion.

    An ATV (all-terrain vehicle) is also known as “quad” or “four wheeler” and is meant for single-riders. A UTV (utility task vehicle) tends to be beefier and allows for “side-by-side” riding, which is why some simply call it a “side by side” or “SXS” for short.

    The side-by-side (SxS or SSV), also called a utility task vehicle (UTV) or recreational off-highway vehicle (ROV), is a small, 1- to 6-person four-wheel drive off-road vehicle.