Sep 23, 2021   SOURCE: BusinessWire

Worldwide Utility Vehicle Industry to 2030 - Development of Electric Powered Utility Vehicles Presents Opportunities - ResearchAndMarkets.com

The "Utility Vehicle Market by Vehicle Type, Application and Propulsion: Global Opportunity Analysis and Industry Forecast, 2021-2030" report has been added to ResearchAndMarkets.com's offering.

Utility vehicle deals with specialized vehicle type to perform specialized tasks and has the capability to operate on the off-road terrains. Utility vehicles has better safety and comfort level than passenger vehicles along with added passenger capacity and high-end load carrying capability.

Utility vehicles are mainly used to transport people as well as goods, which has wide range of end use verticals including industrial sites, sports activities, farms, parks, and passenger commute. Electric driven utility vehicle is gaining traction in the recent years, and it is expected to witness growing penetration in the global market. Under the scope of the research, utility vehicles cover the various vehicle types including SUV, MUV, UTV, and XUV.

The report on the global utility vehicle market focuses on the current market trends and future growth opportunities of various vehicle types such as sport utility vehicle (SUV), multi utility vehicle (MUV), utility terrain vehicle (UTV), and others. In addition, the report provides information on applications such as passenger commute, industrial, agricultural, sports, and others. Moreover, the report provides information on propulsion such as IC engine powered, electric powered, and others. In addition, it analyzes the current trends of utility vehicles across different regions such as North America, Europe, Asia-Pacific, and LAMEA.

Key Benefits

  • This study presents analytical depiction of the global utility vehicle market along with the current trends and future estimations to depict the imminent investment pockets.
  • The overall market potential is determined to understand the profitable trends to enable stakeholders to gain a stronger foothold in the market.
  • The report presents information related to key drivers, restraints, and opportunities with a detailed impact analysis.
  • The current market is quantitatively analyzed from 2020 to 2030 to highlight the financial competency of the market.
  • Porter's five forces analysis illustrates the potency of the buyers and suppliers in the market.

Market Dynamics

Drivers

  • Increase in penetration of the AWD and 4WD vehicles
  • Government rules to support driving utility vehicles such as UTVs on road

Restraints

  • Decrease in production and sale of automotive
  • High maintenance cost of Utility vehicles

Opportunities

  • Development of electric powered utility vehicles
  • Expansion of dealer network for effective product reach

Companies Mentioned

  • BRP Inc.
  • CFMOTO
  • Deere & Company
  • Honda Motor Co. Ltd.
  • Kawasaki Heavy Industries Ltd.
  • KUBOTA Corporation
  • Mahindra & Mahindra Limited
  • Polaris Inc.
  • Textron Inc.
  • Yamaha Motor Co. Ltd.

For more information about this report visit https://www.researchandmarkets.com/r/a21k0t