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Upsurge In Off-road Adventure Sports And Activities Motivated The Growth Of Utility Task Vehicles (UTV) Market

by charliegefen · July 2 Evgeny Kuznetsov Capitals Jersey , 2019


Utility Task Vehicles (UTV) Market – Growth, Size, Share T. J. Oshie Capitals Jersey , Forecast, industry Analysis 2018 – 2026


According to a new market research report published by Credence Research 鈥淯tility Task Vehicles (UTV) Market (by Vehicle Type: Sports UTVs, Load Carrier UTVs and Multipurpose UTVs; By Fuel Type: Conventional Fuel UTVs and Electric UTVs) – Growth Nicklas Backstrom Capitals Jersey , Future Prospects, and Competitive Landscape, 2018-2026鈥? the utility task vehicles market was valued US$ 4.12 Bn in 2017 and estimated to grow with a CAGR of 6.7% during the forecast period from 2018 to 2026.


The complete report is available at聽聽

Market Insights


Utility task vehicles or utility terrain vehicle (UTV) market experienced a momentous growth in both sports and utility sector in past few years and especially in 2016 and 2017. This grabbed the attention of several leading off-road vehicle manufacturers to step into this segment. The step expected to reciprocate with introduction of new breed of UTVs in coming years. UTVs are agiler than traditional sports utility vehicles (SUV) and are packed with capability of carrying more payload than all-terrain vehicle (ATV). UTVs are finding their applications across several end-use verticals besides off-road adventure and recreational activities. Incorporation of UTVs for defense Alex Ovechkin Capitals Jersey , rescue, surveillance, farming and mining among others is stimulating the sales of UTVs across the globe.


North America and especially the U.S. holds the major share in the overall UTV market. Since the introduction of UTVs in 1970 Authentic Evgeny Kuznetsov Jersey , a substantial uptick in popularity of off-road recreational vehicles allowed the region to dominate over the UTV market. Organization of off-road activities such as rallies and races encouraged both millennial and generation Z to form communities and participate in such events.