Utility Vehicles Market, By Engine Capacity, By Vehicle Type, By Geography

Description

The Global Utility Vehicles Market is estimated to be valued at USD 34.91 Bn in 2025 and is expected to reach USD 67.59 Bn by 2032, exhibiting a compound annual growth rate (CAGR) of 9.9% from 2025 to 2032.

Report Coverage		Report Details
Base Year:	2024	Market Size in 2025:	USD 34.91 Bn
Historical Data for:	2020 To 2024	Forecast Period:	2025 To 2032
Forecast Period 2025 to 2032 CAGR:	9.90%	2032 Value Projection:	USD 67.59 Bn

Figure. Utility Vehicles Market Share (%), By Region 2025

The global utility vehicles market has been witnessing steady growth in the recent years. Utility vehicles provide multi-purpose transportation for both personal and commercial applications. They are designed to carry a heavy load and perform tasks beyond the capability of conventional passenger vehicles. Factors, such as rapid industrialization and infrastructure development across developing economies, have augmented the demand for utility vehicles from the construction and transport industries. Additionally, increasing preference for recreational activities among consumers is boosting the sales of utility vehicles for leisure applications. However, stringent emission norms imposed by regulatory authorities coupled with rising electric mobility trend may challenge the growth of conventional gasoline/diesel-powered utility vehicles.

Market Dynamics:

The global utility vehicles market is driven by robust growth in end-use industries such as construction, mining, agriculture, and transportation. Rising infrastructure investments for developing roads, bridges, and buildings is bolstering the demand for construction equipment including utility vehicles. Rapid urbanization and growing agriculture & mining output in emerging nations are also propelling utility vehicle sales. Ongoing upgrade of existing transport infrastructure is another key factor augmenting the market. However, stringent emission regulations imposed by authorities on conventional vehicles pose a challenge. On the other hand, growing preference for recreational activities is providing new opportunities. Manufacturers are introducing hybrid and electric variants to comply with changing norms and tap the green mobility trend.

Key Features of the Study:

This report provides in-depth analysis of the global utility vehicles market, and provides market size (USD Billion) and compound annual growth rate (CAGR%) for the forecast period (2025-2032), considering 2024 as the base year

It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market

This study also provides key insights about market drivers, restraints, opportunities, new product launches or approvals, market trends, regional outlook, and competitive strategies adopted by key players

It profiles key players in the global utility vehicles market based on the following parameters - company highlights, products portfolio, key highlights, financial performance, and strategies

Key companies covered as a part of this study include Polaris Inc., BRP Inc. (Can-Am), John Deere, Mahindra & Mahindra, Kubota Corporation, Honda Motor Co., Ltd., Yamaha Motor Co., Ltd., Kawasaki Heavy Industries, Ltd., Textron Inc., Suzuki Motor Corporation, Great Wall Motor Company Limited, CFMOTO, Arctic Cat Inc., Kymco, and Linhai Group

Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics

The global utility vehicles market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts

Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global utility vehicles market

Market Segmentation

Engine Capacity Insights (Revenue, USD Bn, 2020 - 2032)
- Above 800cc
- 400cc to 800cc
- Below 400cc
Vehicle Type Insights (Revenue, USD Bn, 2020 - 2032)
- Sport Utility Vehicles (SUVs)
- Utility Terrain Vehicles (UTVs)
- All-Terrain Vehicles (ATVs)
Regional Insights (Revenue, USD Bn, 2020 - 2032)
- North America
- U.S.
- Canada
- Latin America
- Brazil
- Argentina
- Mexico
- Rest of Latin America
- Europe
- Germany
- U.K.
- Spain
- France
- Italy
- Russia
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- Australia
- South Korea
- ASEAN
- Rest of Asia Pacific
- Middle East
- GCC Countries
- Israel
- Rest of Middle East
- Africa
- South Africa
- North Africa
- Central Africa
Company Profiles:
- Polaris Inc.
- BRP Inc. (Can-Am)
- John Deere
- Mahindra & Mahindra
- Kubota Corporation
- Honda Motor Co., Ltd.
- Yamaha Motor Co., Ltd.
- Kawasaki Heavy Industries, Ltd.
- Textron Inc.
- Suzuki Motor Corporation
- Great Wall Motor Company Limited
- CFMOTO
- Arctic Cat Inc.
- Kymco
- Linhai Group

Product Code: CMI7864

1. Research Objectives and Assumptions

Research Objectives
Assumptions
Abbreviations

2. Market Purview

Report Description
- Market Definition and Scope
Executive Summary
- Global Utility Vehicles Market, By Engine Capacity
- Global Utility Vehicles Market, By Vehicle Type
- Global Utility Vehicles Market, By Region

3. Market Dynamics, Regulations, and Trends Analysis

Market Dynamics
Impact Analysis
Key Highlights
Regulatory Scenario
Product Launches/Approvals
PEST Analysis
PORTER's Analysis
Market Opportunities
Regulatory Scenario
Key Developments
Industry Trends

4. Global Utility Vehicles Market, By Engine Capacity, 2020-2032, (USD Bn)

Introduction
- Market Share Analysis, 2025 and 2032 (%)
- Y-o-Y Growth Analysis, 2021- 2032
- Segment Trends
Above 800cc
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2020-2032, (USD Bn)
400cc to 800cc
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2020-2032, (USD Bn)
Below 400cc
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2020-2032, (USD Bn)

5. Global Utility Vehicles Market, By Vehicle Type, 2020-2032, (USD Bn)

Introduction
- Market Share Analysis, 2025 and 2032 (%)
- Y-o-Y Growth Analysis, 2021 - 2032
- Segment Trends
Sport Utility Vehicles (SUVs)
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2020-2032, (USD Bn)
Utility Terrain Vehicles (UTVs)
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2020-2032, (USD Bn)
All-Terrain Vehicles (ATVs)
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2020-2032, (USD Bn)

6. Global Utility Vehicles Market, By Region, 2020 - 2032, Value (USD Bn)

Introduction
- Market Share (%) Analysis, 2025, 2028 & 2032, Value (USD Bn)
- Market Y-o-Y Growth Analysis (%), 2021 - 2032, Value (USD Bn)
- Regional Trends
North America
- Introduction
- Market Size and Forecast, By Engine Capacity, 2020 - 2032, Value (USD Bn)
- Market Size and Forecast, By Vehicle Type, 2020 - 2032, Value (USD Bn)
- Market Size and Forecast, By Country, 2020 - 2032, Value (USD Bn)
  - U.S.
  - Canada
Latin America
- Introduction
- Market Size and Forecast, By Engine Capacity, 2020 - 2032, Value (USD Bn)
- Market Size and Forecast, By Vehicle Type, 2020 - 2032, Value (USD Bn)
- Market Size and Forecast, By Country, 2020 - 2032, Value (USD Bn)
  - Brazil
  - Argentina
  - Mexico
  - Rest of Latin America
Europe
- Introduction
- Market Size and Forecast, By Engine Capacity, 2020 - 2032, Value (USD Bn)
- Market Size and Forecast, By Vehicle Type, 2020 - 2032, Value (USD Bn)
- Market Size and Forecast, By Country, 2020 - 2032, Value (USD Bn)
  - Germany
  - U.K.
  - Spain
  - France
  - Italy
  - Russia
  - Rest of Europe
Asia Pacific
- Introduction
- Market Size and Forecast, By Engine Capacity, 2020 - 2032, Value (USD Bn)
- Market Size and Forecast, By Vehicle Type, 2020 - 2032, Value (USD Bn)
- Market Size and Forecast, By Country, 2020 - 2032, Value (USD Bn)
  - China
  - India
  - Japan
  - Australia
  - South Korea
  - ASEAN
  - Rest of Asia Pacific
Middle East
- Introduction
- Market Size and Forecast, By Engine Capacity, 2020 - 2032, Value (USD Bn)
- Market Size and Forecast, By Vehicle Type, 2020 - 2032, Value (USD Bn)
- Market Size and Forecast, By Country, 2020 - 2032, Value (USD Bn)
  - GCC Countries
  - Israel
  - Rest of Middle East
Africa
- Introduction
- Market Size and Forecast, By Engine Capacity, 2020 - 2032, Value (USD Bn)
- Market Size and Forecast, By Vehicle Type, 2020 - 2032, Value (USD Bn)
- Market Size and Forecast, By Country/Region, 2020 - 2032, Value (USD Bn)
  - South Africa
  - North Africa
  - Central Africa

7. Competitive Landscape

Polaris Inc.
- Company Highlights
- Product Portfolio
- Key Developments
- Financial Performance
- Strategies
BRP Inc. (Can-Am)
- Company Highlights
- Product Portfolio
- Key Developments
- Financial Performance
- Strategies
John Deere
- Company Highlights
- Product Portfolio
- Key Developments
- Financial Performance
- Strategies
Mahindra & Mahindra
- Company Highlights
- Product Portfolio
- Key Developments
- Financial Performance
- Strategies
Kubota Corporation
- Company Highlights
- Product Portfolio
- Key Developments
- Financial Performance
- Strategies
Honda Motor Co., Ltd.
- Company Highlights
- Product Portfolio
- Key Developments
- Financial Performance
- Strategies
Yamaha Motor Co., Ltd.
- Company Highlights
- Product Portfolio
- Key Developments
- Financial Performance
- Strategies
Kawasaki Heavy Industries, Ltd.
- Company Highlights
- Product Portfolio
- Key Developments
- Financial Performance
- Strategies
Textron Inc.
- Company Highlights
- Product Portfolio
- Key Developments
- Financial Performance
- Strategies
Suzuki Motor Corporation
- Company Highlights
- Product Portfolio
- Key Developments
- Financial Performance
- Strategies
Great Wall Motor Company Limited
- Company Highlights
- Product Portfolio
- Key Developments
- Financial Performance
- Strategies
CFMOTO
- Company Highlights
- Product Portfolio
- Key Developments
- Financial Performance
- Strategies
Arctic Cat Inc.
- Company Highlights
- Product Portfolio
- Key Developments
- Financial Performance
- Strategies
Kymco
- Company Highlights
- Product Portfolio
- Key Developments
- Financial Performance
- Strategies
Linhai Group
- Company Highlights
- Product Portfolio
- Key Developments
- Financial Performance
- Strategies

8. Analyst Recommendations

Wheel of Fortune
Analyst View
Coherent Opportunity Map

9. References and Research Methodology

References
Research Methodology
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