U.S. Utility Terrain Vehicle (UTV) Market Size - By Displacement (Below 400 cc, 400-800 cc, Above 800 cc), By Propulsion Type (Gasoline, Diesel, Electric), By Application (Utility, Sports, Recreation, Military), Regional Outlook & Forecast, 2024

Description

U.S. Utility Terrain Vehicle (UTV) Market size will grow at a 5% CAGR from 2024 to 2032 due to the increasing demand for off-road recreation in line with rapid technological improvements. More enthusiasts are seeking UTVs for adventurous outdoor activities, driving market expansion. Besides, manufacturers are integrating cutting-edge features like GPS, advanced suspension systems, and safety enhancements, making UTVs more appealing to consumers. This convergence of growing recreational interests and technological innovation will significantly drive the size of the U.S. Utility Terrain Vehicle (UTV) industry.

For instance, in March 2024, Upfit UTV Inc. introduced its line of high-performance luxury utility terrain vehicles (UTVs) to dealership displays. Upfit UTV provides vehicles known for their unparalleled quality, performance, and reliability.

The U.S. utility terrain vehicle (UTV) industry is classified based on displacement, propulsion type, application, and region.

The diesel segment will garner significant gains between 2024 and 2032. With a focus on efficiency and power, diesel UTVs are gaining popularity among commercial users and enthusiasts alike. The torque and durability of diesel engines make them ideal for heavy-duty tasks in agriculture, construction, and hunting. As the demand for robust, long-lasting UTVs grows, the diesel segment will lead the market, catering to those seeking reliability and performance in their off-road endeavors.

The U.S. utility terrain vehicle (UTV) market share from the recreation segment will experience marked growth by 2032. As outdoor recreation continues to surge in popularity, more individuals are turning to UTVs for off-road adventures. These vehicles offer a perfect blend of thrill-seeking and practicality, appealing to a wide range of consumers. With advancements in technology and design, UTVs are becoming more versatile and attractive for recreational use. This trend will propel the recreation segment to the forefront of the U.S. UTV market.

North Carolina utility terrain vehicle (UTV) industry will exhibit a substantial CAGR from 2024 to 2032. Boasting diverse terrain from mountains to coasts, it's a prime testing ground for these versatile vehicles. The state's robust manufacturing sector, including industry giants like Polaris and Honda, bolsters this position. With a mix of off-road enthusiasts and practical utility users, North Carolina's demand for UTVs is soaring. Its strategic location, supporting research facilities, and strong supplier networks further solidify its role as a significant contributor to the U.S. UTV market.

Product Code: 4542

Chapter 1 Methodology & Scope

1.1 Market scope & definitions
1.2 Base estimates & calculations
1.3 Forecast calculations
1.4 Data sources
- 1.4.1 Primary
- 1.4.2 Secondary
  - 1.4.2.1 Paid sources
  - 1.4.2.2 Public sources

Chapter 2 Executive Summary

2.1 Industry 360 degree synopsis, 2018-2032

Chapter 3 Industry Insights

3.1 Industry ecosystem analysis
3.2 Supplier landscape
- 3.2.1 Raw material & component suppliers
- 3.2.2 Technology providers
- 3.2.3 Manufacturers
- 3.2.4 Distributors
- 3.2.5 End-user
3.3 Profit margin analysis
3.4 Technology & innovation landscape
3.5 Patent analysis
3.6 Key news & initiatives
3.7 Regulatory landscape
3.8 Impact forces
- 3.8.1 Growth drivers
  - 3.8.1.1 Increasing participation and spending on off-road recreational activities
  - 3.8.1.2 Rising R&D investments and product innovations
  - 3.8.1.3 The proliferation of off-road sports events
  - 3.8.1.4 Surging demand for UTVs for military operations
- 3.8.2 Industry pitfalls & challenges
  - 3.8.2.1 Environmental impacts and safety concerns
  - 3.8.2.2 High initial costs associated with UTVs
3.9 Growth potential analysis
3.10 Porter's analysis
- 3.10.1 Supplier power
- 3.10.2 Buyer power
- 3.10.3 Threat of new entrants
- 3.10.4 Threat of substitutes
- 3.10.5 Industry rivalry
3.11 PESTEL analysis

Chapter 4 Competitive Landscape, 2023

4.1 Introduction
4.2 Company market share analysis
4.3 Competitive positioning matrix
4.4 Strategic outlook matrix

Chapter 5 Market Estimates & Forecast, By Displacement, 2018-2032 (USD Million, Units)

5.1 Key trends
5.2 Below 400cc
5.3 400cc-800cc
5.4 Above 800cc

Chapter 6 Market Estimates & Forecast, By Application, 2018-2032 (USD Million, Units)

6.1 Key trends
6.2 Utility
6.3 Sports
6.4 Recreation
6.5 Military

Chapter 7 Market Estimates & Forecast, By Propulsion Type, 2018-2032 (USD Million, Units)

7.1 Key trends
7.2 Gasoline
7.3 Diesel
7.4 Electric

Chapter 8 Market Estimates & Forecast, By Region, 2018-2032 (USD Million, Units)

8.1 Key trends
8.2 Alabama
8.3 Alaska
8.4 Arizona
8.5 Arkansas
8.6 California
8.7 Colorado
8.8 Florida
8.9 Georgia
8.10 Idaho
8.11 Illinois
8.12 Indiana
8.13 Iowa
8.14 Kansas
8.15 Kentucky
8.16 Louisiana
8.17 Maine
8.18 Michigan
8.19 Minnesota
8.20 Mississippi
8.21 Missouri
8.22 Montana
8.23 Nebraska
8.24 Nevada
8.25 New Mexico
8.26 North Carolina
8.27 North Dakota
8.28 Ohio
8.29 Oklahoma
8.30 Oregon
8.31 Pennsylvania
8.32 South Carolina
8.33 South Dakota
8.34 Tennessee
8.35 Texas (HMS)
8.36 Utah
8.37 Virginia
8.38 Washington
8.39 West Virginia
8.40 Wisconsin
8.41 Wyoming
8.42 Rest of U.S.

Chapter 9 Company Profiles

9.1 American LandMaster
9.2 Arctic Cat Inc.
9.3 BMS Motorsports, Inc.
9.4 BRP
9.5 CFMOTO USA
9.6 DRR USA
9.7 HISUN
9.8 Honda Motor Co., Ltd.
9.9 INTIMIDATOR, LLC
9.10 Kawasaki Motors Corp., U.S.A.
9.11 KYMCO
9.12 Polaris Inc.
9.13 TRACKER OFF ROAD
9.14 Vanderhall Motor Works Inc.
9.15 Volcon
9.16 Yamaha Motor Co., Ltd.

U.S. Utility Terrain Vehicle (UTV) Market Size - By Displacement (Below 400 cc, 400-800 cc, Above 800 cc), By Propulsion Type (Gasoline, Diesel, Electric), By Application (Utility, Sports, Recreation, Military), Regional Outlook & Forecast, 2024 - 2032