Global Utility Vehicle Market 2022-2026
Technavio has been monitoring the utility vehicle market and it is poised to grow by 9300 thousand units during 2022-2026, decelerating at a CAGR of 4.77% during the forecast period. Our report on the utility vehicle market provides a holistic analysis, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis covering around 25 vendors.
The report offers an up-to-date analysis regarding the current global market scenario, latest trends and drivers, and the overall market environment. The market is driven by increase in penetration of the AWD and 4WD vehicles, rising demand for utility vehicles, and government rules to support driving utility vehicles such as UTVs on the road.
The utility vehicle market analysis includes the type segment and geographic landscape.
Technavio's utility vehicle market is segmented as below:
By Geographical Landscape
- North America
- South America
- Middle East and Africa
This study identifies the development of electric-powered utility vehicles as one of the prime reasons driving the utility vehicle market growth during the next few years. Also, new launches and expansion of dealer networks for effective product reach will lead to sizable demand in the market.
Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters. Our report on utility vehicle market covers the following areas:
- Utility vehicle market sizing
- Utility vehicle market forecast
- Utility vehicle market industry analysis
Technavio's robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading utility vehicle market vendors that include AB Volvo, Bayerische Motoren Werke AG, Bombardier Recreational Products Inc., Deere and Co., Ford Motor Co., General Motors Co., Honda Motor Co. Ltd., Hyundai Motor Co., Hyundai Motor Group, Kawasaki Heavy Industries Ltd., Mahindra and Mahindra Ltd., Mercedes Benz Group AG, Mitsubishi Motors Corp., Renault sas, SAIC Motor Corp. Ltd., Suzuki Motor Corp., Tata Sons Pvt. Ltd., Toyota Motor Corp., Volkswagen AG, and Yamaha Motor Co. Ltd. Also, the utility vehicle market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage all forthcoming growth opportunities.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to an analysis of the key vendors.
Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters such as profit, pricing, competition, and promotions. It presents various market facets by identifying the key industry influencers. The data presented is comprehensive, reliable, and a result of extensive research - both primary and secondary. Technavio's market research reports provide a complete competitive landscape and an in-depth vendor selection methodology and analysis using qualitative and quantitative research to forecast the accurate market growth.