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The global UTV Market Value is majorly driven by the ability of the vehicle to operate in rough terrains. Owing to this capability, these vehicles are extensively used in defense & military operations. The market is driven by its properties such as high cargo carrying capacity and quick mobility on hard surface, which are essential for anti-terrorist operations and border security combats. The market is further expected to experience growth opportunities with the increase in infrastructure developments in construction and the increase in use of the UTV by hunters and farmers.
UTV’s have better stability and higher payloads. However, there are some inherent dangers with off-road operation of such vehicles. These vehicles are capable of making the fire suppression operations more efficiently. UTV Market Value is expected to expand at ~6% CAGR during the period 2017 to 2023.
The global UTV Market Value has been segmented into product type, application and regions. On the basis of product type, the market is segmented into Displacement (CC): ≤ 400, Displacement (CC): 400-800 and Displacement (CC): ≥ 800. Displacement (CC): 400-800 is expected to dominate the global market by product type in 2016 in terms of market revenue. On the basis of application, the market has been segmented as Work UTV, Sport UTV and Others. Among these, Work UTV segment has accounted the highest market share in 2016 in terms of revenue.
The global report for UTV Market Value has been categorized in the region of North America, Asia Pacific, Europe, and Rest of the World. Amongst these, the North America region is expected to dominate the market, in terms of growth. The utility terrain vehicle industry is regulation-driven, as many injuries have occurred due to the lack of know-how with regards to its usage. The United States Consumer Product Safety Commission has issued certain rules, which state that children below the age of sixteen years, are not allowed to drive these vehicles and have mandated the wearing of safety garments like helmets, boots, long pants, and gloves for adults. Moreover, the existence of major players in the North America region such as John Deere, Polaris Industries, Inc. and Arctic Cat further drives the growth of the market.
The prominent players in the UTV Market Value include Polaris Industries, Inc. (U.S.), Kawasaki Heavy Industries Ltd. (Japan), John Deere (U.S.), Yamaha Motor Company Limited (Japan), and Kubota Corporation (Japan). Hisun Motors Corp (U.S.), Arctic Cat (U.S.), Honda Motor Company, Ltd. (Japan), BRP (Canada) and Kwang Yang Motor Co, Ltd (Taiwan) are among others.
Read More :
https://yarabook.com/read-blog/57092
https://www.sharepresentation.com/sagark18/automotive-hud-industry
https://www.mediafire.com/file/yrv4dm7x5bao0ol/Auto_interior_materials_industry.pdf/file
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