The U.S. Utility Terrain Vehicles Market is set to grow from its current market value of more than USD 7 billion to over USD 11.5 billion. Utility terrain vehicles industry will gain exponential proceeds in the U.S. owing to constant increase in disposable income and rising inclination towards outdoor activities and adventure. Also, rising penetration of UTV events through rough terrains will play a pivotal role in industry expansion.
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That apart, UTVs are more often designed and used in various sectors. They are wide, solid, and feature plenty of storage space with the advantage of a side-by-side passenger sitting arrangement. On account of these qualities and high safety, UTVs are becoming more popular in military & defense applications. Moreover, the ability of UTVs to operate in snow, sand, and rocky terrain along with harsh weather conditions, provides military and defense personnel many benefits. In addition to that, with a high cargo capability, UTVs are helping US military units to improve their capacities.
The key factor responsible for this growth is the growing number of off-road sports events and championships across the region. Many of the U.S. states including Texas, California, and Arizona, have ideal climate conditions for hosting off-road racing events.
The Northeastern United States has a large forest cover which gives UTV riders an opportunity for a variety of recreational activities. Easy-to-navigate UTV tracks can be found in the highly wooded interiors of states like Maine and Pennsylvania. These easy tracks are gaining appeal among beginners and amateur UTV drivers. This along with the legalization of UTVs for hunting has opened up new opportunities in the region, with many hunters employing UTVs to pursue and shoot wildlife.
Leading UTV manufacturers included Honda Motor Company, Kawasaki Motor Corporation, Hisun Motors, Deer & Company, and Arctic CAT Inc. are investing in the development of electric powertrains. As a result of such initiatives, the market will witness the introduction of new battery-operated UTV models in upcoming years. Apart from novel product development, R&D and innovation spending and distribution channel growth are among the few other methods used by these market competitors to expand their reach.
Along with this, to get a competitive advantage in the U.S. Utility Terrain Vehicles Market, key competitors are concentrating on customer retention methods by providing upgraded services. In fact, Kawasaki Motors has extended the warranty for its several products including, JetSki, ATV models, and Mule UTV.
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Some Point from Table of Contents:
Chapter 6 U.S. Utility Terrain Vehicles Market, By Application
6.1 U.S. UTV market, by application, 2020 & 2027
6.2.1 Market estimates and forecast, 2016 - 2027
6.3.1 Market estimates and forecast, 2016 - 2027
6.4.1 Market estimates and forecast, 2016 - 2027
6.5.1 Market estimates and forecast, 2016 - 2027
Chapter 7 U.S. Utility Terrain Vehicles Market, By Propulsion Type
7.1 U.S. UTV market, by propulsion type, 2020 & 2027
7.2.1 Market estimates and forecast, 2016 - 2027
7.3.1 Market estimates and forecast, 2016 - 2027
7.4.1 Market estimates and forecast, 2016 - 2027
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