Utility Terrain Vehicle (UTV) Market Size, Outlook And Future Scope -Forecast To 2023
Competitive Dashboard
Some of the major players participating in the global Utility Terrain Vehicle (UTV) Market Size, are Kawasaki Heavy Industries Ltd. (Japan), Polaris Industries, Inc. (U.S.), John Deere (U.S.), Kubota Corporation (Japan), Honda Motor Company, Ltd. (Japan), Hisun Motors Corp (U.S.), Yamaha Motor Company Limited (Japan), Arctic Cat (U.S.), BRP (Canada) and Kwang Yang Motor Co, Ltd (Taiwan).
Market Segmentation
By product type, the global Utility Terrain Vehicle (UTV) Market Size has been segmented into Displacement (CC): ≤ 400CC, Displacement (CC): 400-800 CC and Displacement (CC): ≥ 800 CC.
Regional Analysis
The global Utility Terrain Vehicle (UTV) Market Size,, by region, has been segmented into North America, Europe, Asia Pacific, and the Rest of the World (RoW). North America is anticipated to hold a maximum share of the global market. The consolidation of major players in the U.S. and Canada are likely to propel the expansion of the Utility Terrain Vehicle (UTV) Market Size, in the upcoming years. The focus is on product development and product line innovations which are anticipated to favor the expansion of the market across the next few years. The annual motorsport competition held in the U.S. every year is one of the major drivers of the country-level market. It is expected to drive the demand in the region throughout the forecast period.
Industry News
In February 2019, Spain's Hispano Suiza and British-based Lagonda have announced their participation in the annual Geneva International Motor Show with its retro all-terrain vehicles revived as electric cars.
In February 2019, a newly established plastics coating company, Armor Plastics LLC, has invested USD 13.4 Mn in a 145,000-square-foot facility in Indiana. The facility is designed to carry on operations for its patented coating technology for all-terrain, utility, and other recreational vehicles.
In January 2019, Zeal Motor Inc, Canada, has launched its first truck in a series of industrial off-road utility vehicles, FAT TRUCK™, designed for the transportation of materials and personnel in difficult terrains.
In January 2019, TRACKER, part of the Tantalum Corporation, has partnered with Textron Inc., an American industrial conglomerate, for the introduction of TRACKER OFF ROAD, a bold new line of high-performance all-terrain vehicles (ATVs).
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