UTV Market Value, Demand, Industry Size, Top Players, Opportunities, Revenue And Forecast To 2023
Synopsis
The vehicle’s capability of carrying equipment and working as off-road vehicles is anticipated to drive the growth of the UTV Market Value, over the next couple of years. Industry players are focusing on UTV’s strength and capability in working across rough terrains. This, in turn, is prognosticated to accelerate revenue creation for the market players.
Competitive Dashboard
Some of the major players participating in the global UTV Market Value, 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 UTV Market Value has been segmented into Displacement (CC): ≤ 400CC, Displacement (CC): 400-800 CC and Displacement (CC): ≥ 800 CC.
By application, the UTV Market Value, has been segmented into Work UTV, Sports UTV, Others
Regional Analysis
The global UTV Market Value,, 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 UTV Market Value, 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 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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