Utility Terrain Vehicles Market To Witness Huge Growth By 2025
Global Utility terrain vehicles market has clearly positioned itself in an extremely lucrative spot and is bound to exhibit sustained growth in the ensuing years.
The exponential growth map of the global Utility terrain vehicles market can be aptly credited to the rising preference for a UTV in numerous in utility activities. In an effort to diversify their product offering, major UTV manufacturers are lately focusing on developing vehicles that can address different requirements from a varied array of application segments, including agriculture, construction & forestry, which serve to further propel the UTV market growth over the forthcoming years.
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Traditionally ATVs were used to carry out a majority of agricultural activities, ranging from hauling fertilizer, wire & lumber, however, these practices were quite inefficient in terms of getting work done & lessening physical effort as the vehicle’s small size limited its load bearing & hauling capacity and the lack of power steering made the task very strenuous for the vehicle operator, defeating the purpose of using the vehicle in the first place. These limitations have started to drive individual farmers & other agricultural corporations away from ATVs, and most of them now prefer to invest in well-equipped UTVs, further propelling UTV adoption across the utility landscape in recent years.
Apart from offering these benefits, the UTVs also comfortably sit between a basic quadbikes (ATV) and a fully-fledged tractors or pickup trucks, thus, providing the Utility terrain vehicles market with ample growth opportunities from agriculture, without having to compete with others for the position. Moreover, unlike their bigger as well as smaller counterparts, the UTVs, owing to the diverse array of accessories & additional attachments available in the market, can perform different activities ranging from transporting supplies and mowing grass to managing livestock and plowing the fields, ensuring their dominance across the field of agriculture. Thus, powered by their deployment in agriculture and landscaping activities, UTV industry size from the utility sector is slated to depict a CAGR of 6% over 2019-2025.
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Partial Chapter of the Table of Content
Chapter 4. Utility Terrain Vehicles Market, By Displacement
4.1. Global utility terrain vehicles share by displacement, 2018 & 2025
4.2. Less Than 400 cc
4.2.1. Market estimates and forecast, 2013-2025
4.2.2. Market estimates and forecast, by region, 2013-2025
4.3. 400 – 800 cc
4.3.1. Utility Terrain Vehicles Market estimates and forecast, 2013-2025
4.3.2. Market estimates and forecast, by region, 2013-2025
4.4. More than 800 cc
4.4.1. Market estimates and forecast, 2013-2025
4.4.2. Market estimates and forecast, by region, 2013-2025
Chapter 5. Utility Terrain Vehicles Market, By Application
5.1. Global utility terrain vehicles share by application, 2018 & 2025
5.2. Utility
5.2.1. Market estimates and forecast, 2013-2025
5.2.2. Market estimates and forecast, by region, 2013-2025
5.3. Sports
5.3.1. Market estimates and forecast, 2013-2025
5.3.2. Market estimates and forecast, by region, 2013-2025
5.4. Recreation
5.4.1. Market estimates and forecast, 2013-2025
5.4.2. Market estimates and forecast, by region, 2013-2025
5.5. Military
5.5.1. Market estimates and forecast, 2013-2025
5.5.2. Utility Terrain Vehicles Market estimates and forecast, by region, 2013-2025
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