MEA Utility Terrain Vehicles Market Analysis

 MEA Utility Terrain Vehicles Market Analysis

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.
 

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.
 

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.