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U.S. Utility Terrain Vehicle Market 2022 Industry Size, Key Vendors, Growth Drivers, Opportunity, Forecast to 2028

U.S. Utility Terrain Vehicle Market

U.S. Utility Terrain Vehicle Market

Global demand for U.S. utility terrain vehicle market was valued at nearly USD 4 Billion in 2019 and is likely to surpass USD 5 Billion in 2028

Global demand for U.S. utility terrain vehicle market was valued at nearly USD 4 Billion in 2019 and is likely to surpass USD 5 Billion in 2028, growing at around 5% CAGR between 2019 and 2028.”
— Prakash Torase

PUNE, MAHARASHTRA, INDIA, December 7, 2022 /EINPresswire.com/ -- Zion Market Research has published a new report titled “U.S. Utility Terrain Vehicle Market –By Displacement (Above 800 cc, 400 – 800 cc, and Below 400 cc), By Application (Utility, Recreation, Sports, and Military), And By Region: Industry Perspective, Comprehensive Analysis, and Forecast, 2019 – 2028.” According to the report, global demand for U.S. utility terrain vehicle market was valued at nearly USD 4 Billion in 2019 and is likely to surpass USD 5 Billion in 2028, growing at around 5% CAGR between 2019 and 2028.

Browse the full “U.S. Utility Terrain Vehicle Market – By Displacement (Above 800 cc, 400 – 800 cc, and Below 400 cc), By Application (Utility, Recreation, Sports, and Military), and By Region: Industry Perspective, Market Size, Statistical Research, Market Intelligence, Comprehensive Analysis, Historical Trends, and Forecasts, 2019–2025.

Request Free Sample @ https://www.zionmarketresearch.com/sample/us-utility-terrain-vehicle-market

Cost-effectiveness of light-duty vehicles type bolstering its demand in the region

The companies in the market, including Yamaha and Honda, are working on enhancing their product capabilities. Market leaders are emphasizing on reducing the overall weight that enhances the vehicle’s weight to power ratio, increasing fuel efficiency. Increasing availability and accessibility of UTVs will support the market outlook. Market players are focusing on developing enhanced safety features, such as rollover cages, airless tires, and antilock braking systems integrated with UTVs.

One of the key factors challenging the market is high labor and infrastructure costs along with increasing tariffs and taxes associated with imports that affect the overall vehicle costs. Gasoline and electric UTVs are expected to witness a gradual increase in their prices according to the market forecast. Stringent compliance norms along with regulatory policies pose a threat to new players entering the regional market. However, the prices of electric utility terrain vehicles are expected to decline, supporting the industry through 2028.

The “sports” category under application segment dominates the U.S. utility terrain vehicle market

The sports category captured nearly 35% revenue share of the regional utility terrain vehicle market in 2019. The key reason behind the substantial rise in the demand for these vehicles is the persistent organization of sport racing events by various clubs across the region. Moreover, the clubs play a crucial role in further boosting the demand for the sports category under the utility terrain vehicle market by offering these vehicles on lease for participation.

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The Southern U.S. dominates in the U.S. utility terrain vehicle market owing to its topography

In 2019, the Southern U.S. segment led the regional utility terrain vehicle market by holding the largest revenue share. The southern region is recognized for temperate climatic conditions, rocky mountains, and extensive woodland areas, which makes it an ideal place for conducting recreational activities, thereby driving the utility terrain vehicle market.

Some of the key players driving the U.S. utility terrain vehicle market are Kawasaki Motors Corporation, Honda Motor Co. Ltd., Caterpillar Inc., Yamaha Motor Co. Ltd., Deere & Company, Hisun Motors, Arctic Cat Inc., KYMCO, Polaris Inc., Massimo Motor Sports LLC, Bombardier Recreational Products (BRP), CFMOTO, and BMS Motorsports Inc.

Inquire more about this report @ https://www.zionmarketresearch.com/inquiry/us-utility-terrain-vehicle-market

The U.S. utility terrain vehicle market is segmented as:

U.S. Utility Terrain Vehicle Market: Displacement Segmentation Analysis

Above 800 cc
400 – 800 cc
Below 400 cc
U.S. Utility Terrain Vehicle Market: Application Segmentation Analysis

Utility
Recreation
Sports
Military
U.S. Utility Terrain Vehicle Market: Regional Segmentation Analysis

South
Midwest
Northeast
West

Related Press Release @ https://www.zionmarketresearch.com/news/us-utility-terrain-vehicle-market

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Prakash Torase
zion market research
+1 855-465-4651
prakash.t@marketresearchstore.com

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