MEA utility terrain vehicles market was valued at 270 million in 2018 and is likely to reach 465 million by the end of 2025, growing at an expected CAGR of 6.5% through 2025. In addition to this, the study also encompasses crucial information on the current market scenario, evolving technologies, widespread competitive landscape, growth prospects, industry tactics, and vivid market segmentations
MEA utility terrain vehicles market has garnered remarkable momentum owing to the growing popularity of side-by-side all-terrain vehicles in applications such as forestry, sports, highway engineering, and agriculture. A UTV not only offers off-road abilities but can also be to haul equipment and supplies in places where making use of truck becomes impractical or impossible. UTVs have particularly experienced massive demand from sports and utility segments, with increasing number of sporting events worldwide and consistent deployment in agricultural environments.
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Agriculture has been a major economic driver across the African region, while simultaneously meeting the growing food requirement in the Middle East, where Egypt, Jordan and Saudi Arabia have substantial farming footprint. UTVs allow farmers to easily carry tools and equipment as well as labor to and from the farming sites. Besides, disc harrows, aerators, cultipackers and other equipment can be attached to UTVs for earth digging and other operations. Consistent demand for food and other products derived from farming will sustain agricultural activates in the region, presenting a promising revenue source for MEA utility terrain vehicles market.
As increasing number of developments in vehicle manufacturing and technologies emerge, MEA UTV industry is poised to witness numerous advancements as well. The off-road sports application segment has been one of the notable components of the industry. Market leaders and regional contenders alike are leveraging the endless opportunities to customize and develop new sports UTVs, paving way for challenging racers. By making available powerful and reliable products for powersport, manufactures will generate considerable popularity for UTVs among riders and outdoor enthusiasts, fueling MEA utility terrain vehicles market expansion.
Agriculture accounts for more than 32% of the gross domestic product of Africa, but a significant portion of the region struggles to find proper infrastructure to maintain productivity. It has been observed that various companies in the agricultural sector headquartered in developed countries are investing heavily in Africa, into technology adoption and other important areas. Highly maneuverable with large load-carrying capacities, UTVs have surged into the forefront of farming activities. Enhancing farming activities to provide more convenient means of operations could involve buying efficient vehicles, propelling demand for MEA utility terrain vehicles market.
Over the past few years it has been observed that there is considerable risk of injury and death associated with UTVs. To address these risks, regulatory authorities like Roads & Transport Authority (RTA) of Dubai, Department of Transport South Africa (DoT) aim to ensure the highest level of safety for UTV users by introducing vehicle safety norms. The implementation of regulations regarding licensing of UTVs to maintain safety of environment and people is slated to promote players in the MEA utility terrain vehicles market to shift their focus toward product advancements.
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Partial Chapter of the Table of Content
Chapter 5 MEA Utility Terrain Vehicles Market, By Application
5.1 MEA market share by application, 2018 & 2025
5.2.1 Market estimates and forecast from utility, 2013 - 2025, (Units) (USD Million)
5.2.2 Market estimates & forecast from utility, by country, 2013-2025 (Units) (USD Million)
5.3.1 Market estimates and forecast from sports, 2013 - 2025, (Units) (USD Million)
5.3.2 Market estimates & forecast from sports, by country, 2013-2025 (Units) (USD Million)
5.4.1 Market estimates and forecast from recreation, 2013 - 2025, (Units) (USD Million)
5.4.2 Market estimates & forecast from recreation, by country, 2013-2025 (Units) (USD Million)
5.5.1 Market estimates and forecast from military, 2013 - 2025, (Units) (USD Million)
5.5.2 Market estimates & forecast from military, by country, 2013-2025 (Units) (USD Million)
Charts & Figures
FIG. 1 MEA utility terrain vehicles market segmentation
FIG. 2 Industry landscape, volume & revenue (Units) (USD Million), 2013 - 2025
FIG. 3 Industry ecosystem analysis
FIG. 4 Growth potential analysis, 2018
FIG. 5 Porter’s analysis
FIG. 6 PESTLE analysis
FIG. 7 MEA market share by displacement, 2018 & 2025
FIG. 8 MEA market share by application, 2018 & 2025
FIG. 9 MEA utility terrain vehicles market share by country, 2018 & 2025
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