The utility terrain vehicles market will rise exponentially from 2019 to 2025 led by rising deployment of UTVs at work sites like construction, mining, and agriculture.
The rising deployment of UTVs at work sites like construction, mining, agriculture has created myriad opportunities for utility terrain vehicles market players. The availability of multiple sized UTVs to fit-in two to six passengers along with a small load carrying capacity makes them the best choice for people seeking the appropriate size of vehicle for daily work and commute. The affordability supported by its cheaper price and smaller engine for greater fuel efficiency drives more customers towards this segment of vehicles, propelling UTV market trends.
U.S. Utility Terrain Vehicles Market, By Application, 2018 & 2025, (USD Million)
From a design perspective, all UTVs are compact and zippy in nature, pertaining to which they are gaining more popularity among end-users. They are usually designed to achieve superior traction over uneven surfaces and provide maximum stability. In addition, lesser purchasing price, comparatively higher mileage, and lower insurance cost are greatly supporting the expansion of utility terrain vehicles industry size.
Working professionals, especially the youth, have started showing a considerable interest in outdoor activities lately. Remote areas like forests, riverbanks, wetlands, mountains, which cannot be usually accessed by trucks, have now become accessible with these all-terrain vehicles. Consequently, increasing interest in pleasure-seeking activities like hunting, fishing, camping, forest survivals, etc., is driving people out of homes for recreational purposes, which will propel the growth of utility terrain vehicles (UTV) market share.
The increasing use of UTVs by the fire and rescue departments for emergency rescue operations in rough terrains is proving beneficial for the UTV industry. In this regard, focusing on future business opportunities, industry players have been manufacturing advanced vehicles to carry out fire rescue operations at remote locations. Say for instance, the Polaris ‘Ranger’, a 4×4 dedicated rescue/EMS unit has been widely used for both fire and rescue operations. The upcoming new model ‘Ranger 1000 XP’ will offer general chassis with smaller rear bead than the older ‘Ranger’ model, meant for improved customizations in seating arrangements, making it well suited for the general patrol or beach patrol type missions.