MEA Utility Terrain Vehicles Market Size By Displacement (Below 400 cc, 400 - 800 cc, Above 800 cc) By Application (Utility, Sports, Recreation, Military) Industry Analysis Report, Regional Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2019 – 2025

Published Date: Jun 2019  |  Report ID: GMI3415  |  Authors: Ankita Bhutani

Report Format: PDF   |   Pages: 135   |   Base Year: 2018




Summary Table of Contents Industry Coverage Methodology

Industry Trends

MEA Utility Terrain Vehicles Market size valued at around USD 270 million in 2018 and is estimated to exhibit over 6.5% CAGR from 2019 to 2025.
 

MEA Utility Terrain Vehicles Industry Size, By Country, 2025, (USD Million)

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Increasing preferences of infrastructure contractors and planners for deploying easily operable vehicles on construction sites will propel the MEA utility terrain vehicles (UTV) market size over the study timeframe. Rising investments for infrastructure development and modernization of agricultural transportation are prominently supporting the industry share. For instance, in 2016, Egypt implemented investments in construction and building sector rose to USD 1.4 billion with an increase of over 3% as compared with 2015.
 

Rising demand for innovative green buildings and modern amenities will support the infrastructure expansion till 2025. Increasing adoption of green revolution technologies is prominently contributing towards developing agricultural sector, further supporting the MEA utility terrain vehicles market share. Significant growth in the agriculture productivity is attributed to increasing utilization of modernized farming equipment and transportation vehicles. For instance, in 2017, Saudi Arabia agricultural output rose to USD 17.5 billion with an increase of over 1.05% as compared with 2016.
 

Growing demand for utilizing advanced side by side vehicles equipped with comfortable seating arrangements and improved passenger capacities are significantly expanding the MEA utility terrain vehicles market size. Incorporation of advanced interior cockpits and air conditioning systems are primarily improving the passenger comfort and vehicle handling efficiency. Side by side vehicles offering enhanced durability and safety are gaining a higher visibility in construction sector.
 

Increasing disposable income along with proliferating economic conditions are providing potential opportunities for recreation activities, further strengthening the market size. For instance, in 2017, disposable income in UAE rose to 329.14 billion with an increase of over 7.8% as compared with 2016. Moreover, rising recreational spending is significantly inducing the increased youth participation in outdoor leisure activities.
 

Provision of finance assistance policies and promotional deals offered will escalate the product penetration over the study timeframe. Rising tourism industry is positively impacting the GDP, further enhancing the MEA utility terrain vehicles market size. For instance, in 2018, travel industry in UAE rose to USD 44.8 billion with an increase of over 2.4% as compared with 2017.
 

MEA Utility Terrain Vehicles Market Report Coverage
Report Coverage Details
Base Year: 2018 Market Size in 2018: 115 Billion (USD)
Historical Data for: 2014 to 2018 Forecast Period: 2019 to 2025
Forecast Period 2019 to 2025 CAGR: 6.5% 2025 Value Projection: 465 Million (USD)
Pages: 135 Tables, Charts & Figures: 124
Geographies covered (5): Saudi Arabia, UAE, South Africa, Qatar, Egypt
Segments covered: Displacement, Application and Region
Companies covered (11): BRP Inc., Caterpillar Inc., CFMOTO, Deere & Company, HISUN, Honda Motor Co. Ltd., Kawasaki SA, Kubota Corporation, Kwang Yang Motor Co. Ltd. (KYMCO), Polaris Industries Inc., Yamaha Motor Co. Ltd.
Growth Drivers:
  • Rising participation in off-roading events
  • Growing UTV demand for utility applications
Pitfalls & Challenges:
  • Higher engine noise along with environmental degradation

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MEA Utility Terrain Vehicles Market, By Displacement

UAE Utility Terrain Vehicles (UTV) Market, By Displacement, 2018, (Units)
UAE Utility Terrain Vehicles (UTV) Market, By Displacement, 2018, (Units)

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Increasing requirement for higher torque and stability for sports activities will escalate the adoption of 400-800 engine displacement utility terrain vehicles. Desert racing comprising of uneven terrains are inducing the demand for increased power. Rising number of UTVs offering multiple seating configuration and larger storage space will further escalate the UTV market demand over the forecast timeframe.
 

Utilization of lower displacement engines for recreational activities providing comfortable riding experience and reduced carbon emissions. Increasing preference of youth population for indulging in various recreational and leisure activities will accelerate the adoption of below 400 cc side by side vehicles. Additionally, lower vibration levels and reduced fuel consumption offered by these engines are showcasing potential growth prospects for MEA utility terrain vehicles market size over the study timeframe.
 

MEA Utility Terrain Vehicles Market, By Application

Introduction of advanced UTV’s offering improved suspensions, hydrostatic transmission and power steering systems are supporting the operations on construction worksites. Growing inclination of farmers and ranchers for utilizing modern farming methods and technologies are positively influencing the MEA utility terrain vehicles market share over the study timeframe. Moreover, integration of advanced driver assistance technologies such as GPS systems and digital display dashboards are further augmenting the product penetration.
 

Increasing ultra-light mobility requirements for various tactical and combat operations will positively influence the military side by side vehicles over the study timeframe. Growing inclination of defence authorities for deploying innovative military UTVs offering improved transportability and multi mission capabilities will augment the industry share. Moreover, increasing military expenditure will provide potential opportunities for enhancing the industry size. For instance, in 2017, military spending in South Africa rose to USD 4.1 billion with an increase of over 12% as compared with 2016.
 

MEA Utility Terrain Vehicles Market, By Country

MEA Utility Terrain Vehicles Industry Size, By Country, 2025, (USD Million)
MEA Utility Terrain Vehicles Industry Size, By Country, 2025, (USD Million)

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Saudi Arabia holds significant share in the MEA utility terrain vehicles market size owing to rising infrastructure development coupled with proliferating foreign investments. Several championships and racing events organized in Saudi Arabia under the direction of the Saudi Entertainment Authority (GEA) are attracting the sports enthusiasts. Further, increasing government funding and supportive initiatives targeted towards enhancement of recreational infrastructure will support the market size over the study timeframe.
 

UAE will exhibit significant growth owing to increasing recreational spending and economic growth. For instance, in 2015, annual GDP rose to USD 358.13 billion with an increase of over 5.1% as compared with 2014. Rising championship events along with increasing recreational spending will support market growth. The industry participants are organizing several events in the country to promote the youth participation. Moreover, easy availability of side by side vehicles through effective chain of distributors and dealers will significantly contribute towards augmenting the MEA utility vehicles market size.
 

Competitive Market Share

Major participants in UTV market include Polaris Industries Inc, Kubota Corporation, Yamaha Motor, John Deere, Kawasaki Motors, Honda Motors, and Bombardier Recreational Products. Industry players are striving to provide high quality products at cost effective prices through advanced manufacturing techniques. They are focusing to serve large customer base by expanding the distribution networks. Diversification of product portfolio and expansion of business operations are significantly contributing towards increasing revenue generation capabilities, driving the market size.
 

Industry Background  

Increasing population in conjunction with proliferating economic conditions are positively influencing the adoption of side by side vehicles thereby escalating the MEA utility market size. Regulatory authorities including Roads and Transport Authority (RTA), Egyptian Environmental Affairs Agency (EEAA) are providing technical requirements and safety standards for reducing the environmental impacts by side by side vehicles.


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