U.S. Utility Terrain Vehicle Market Revenue Projected To Hit USD 5 Billion In 2025

20-Feb-2020 | Zion Market Research

Zion Market Research has published a new report titled “U.S. Utility Terrain Vehicle Market –By Displacement (Above 800 cc, 400 – 800 cc, and Below 400 cc), By Application (Utility, Recreation, Sports, and Military), And By Region: Industry Perspective, Comprehensive Analysis, and Forecast, 2019 – 2025.” According to the report, global demand for U.S. utility terrain vehicle market was valued at nearly USD 4 Billion in 2019 and is likely to surpass USD 5 Billion in 2025, growing at around 5% CAGR between 2019 and 2025.

Browse the full “U.S. Utility Terrain Vehicle Market – By Displacement (Above 800 cc, 400 – 800 cc, and Below 400 cc), By Application (Utility, Recreation, Sports, and Military), and By Region: Industry Perspective, Market Size, Statistical Research, Market Intelligence, Comprehensive Analysis, Historical Trends, and Forecasts, 2019–2025.” Report at https://www.zionmarketresearch.com/report/us-utility-terrain-vehicle-market

Cost-effectiveness of light-duty vehicles type bolstering its demand in the region

Based on the displacement, the U.S. utility terrain vehicle market is bifurcated into three categories: above 800 cc, 400–800 cc, and below 400 cc. Among the three, vehicles falling under “below 400 cc” segment is being purchased by the majority of the people in the region owing to their low market value. In 2018, the “below 400 cc” vehicle category accounted for around 15% of the regional market share. These vehicles have a wide range of applications in the forestry and agriculture sector as well, apart from personal use.

The “sports” category under application segment dominates the U.S. utility terrain vehicle market

The sports category captured nearly 35% revenue share of the regional utility terrain vehicle market in 2019. The key reason behind the substantial rise in the demand for these vehicles is the persistent organization of sport racing events by various clubs across the region. Moreover, the clubs play a crucial role in further boosting the demand for the sports category under the utility terrain vehicle market by offering these vehicles on lease for participation.

The Southern U.S. dominates in the U.S. utility terrain vehicle market owing to its topography

In 2019, the Southern U.S. segment led the regional utility terrain vehicle market by holding the largest revenue share. The southern region is recognized for temperate climatic conditions, rocky mountains, and extensive woodland areas, which makes it an ideal place for conducting recreational activities, thereby driving the utility terrain vehicle market.

Some of the key players driving the U.S. utility terrain vehicle market are Kawasaki Motors Corporation, Honda Motor Co. Ltd., Caterpillar Inc., Yamaha Motor Co. Ltd., Deere & Company, Hisun Motors, Arctic Cat Inc., KYMCO, Polaris Inc., Massimo Motor Sports LLC, Bombardier Recreational Products (BRP), CFMOTO, and BMS Motorsports Inc.

The U.S. utility terrain vehicle market is segmented as:

U.S. Utility Terrain Vehicle Market: Displacement Segmentation Analysis

  • Above 800 cc
  • 400 – 800 cc
  • Below 400 cc

U.S. Utility Terrain Vehicle Market: Application Segmentation Analysis

  • Utility
  • Recreation
  • Sports
  • Military

U.S. Utility Terrain Vehicle Market: Regional Segmentation Analysis

  • South
  • Midwest
  • Northeast
  • West

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