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Utility Terrain Vehicle (UTV) Market

Utility Terrain Vehicle (UTV) Market<br>

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Utility Terrain Vehicle (UTV) Market

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  1. Utility Terrain Vehicle (UTV) Market Synopsis The global utility terrain vehicle market 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. As per Market Research Future (MRFR), the global utility terrain vehicle (UTV) market is expected to strike a CAGR of 6% during the forecast period 2017 to 2023. Utility terrain vehicles are specially designed for specific tasks and are also famous as side-by-side vehicles and four-wheel drive off-road vehicles. The report indicates that the market is anticipated to remain highly lucrative through the assessment period. Get Free Sample @ https://www.marketresearchfuture.com/sample_request/6118 UTVs have paved their way across different industries such as forestry, military & defense, and agriculture. The growth of these industries is poised to catapult the utility terrain vehicle (UTV) market on an upward trajectory in the foreseeable future. In addition, these vehicles are primarily used for recreational purposes. The inclination in consumer behavior pattern is anticipated to augment the utility terrain vehicle (UTV) market across the review period. However, factors such as inadequate protection for the occupant is presumed to check the expansion of the market through the next couple of years. Competitive Dashboard Some of the major players participating in the global utility terrain vehicle (UTV) market are Kawasaki Heavy Industries Ltd. (Japan), Polaris Industries, Inc. (U.S.), John Deere (U.S.), Kubota Corporation (Japan), Honda Motor Company, Ltd. (Japan), Hisun Motors Corp (U.S.), Yamaha Motor Company Limited (Japan), Arctic Cat (U.S.), BRP (Canada) and Kwang Yang Motor Co, Ltd (Taiwan). Market Segmentation By product type, the global utility terrain vehicle (UTV) market has been segmented into Displacement (CC): ≤ 400CC, Displacement (CC): 400-800 CC and Displacement (CC): ≥ 800 CC. By application, the utility terrain vehicle (UTV) market has been segmented into Work UTV, Sports UTV, Others Regional Analysis

  2. The global utility terrain vehicle (UTV) market, by region, has been segmented into North America, Europe, Asia Pacific, and the Rest of the World (RoW). North America is anticipated to hold a maximum share of the global market. The consolidation of major players in the U.S. and Canada are likely to propel the expansion of the utility terrain vehicle (UTV) market in the upcoming years. The focus is on product development and product line innovations which are anticipated to favor the expansion of the market across the next few years. The annual motorsport competition held in the U.S. every year is one of the major drivers of the country-level market. It is expected to drive the demand in the region throughout the forecast period. Industry News In February 2019, Spain's Hispano Suiza and British-based Lagonda have announced their participation in the annual Geneva International Motor Show with its retro all-terrain vehicles revived as electric cars. In February 2019, a newly established plastics coating company, Armor Plastics LLC, has invested USD 13.4 Mn in a 145,000-square-foot facility in Indiana. The facility is designed to carry on operations for its patented coating technology for all-terrain, utility, and other recreational vehicles. In January 2019, Zeal Motor Inc, Canada, has launched its first truck in a series of industrial off-road utility vehicles, FAT TRUCK™, designed for the transportation of materials and personnel in difficult terrains. In January 2019, TRACKER, part of the Tantalum Corporation, has partnered with Textron Inc., an American industrial conglomerate, for the introduction of TRACKER OFF ROAD, a bold new line of high-performance all-terrain vehicles (ATVs). Get Full Report @ https://www.marketresearchfuture.com/reports/utility-terrain- vehicle-market-6118 About Market Research Future At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services. MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions. Contact Market Research Future

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