U.S. Utility Terrain Vehicle (UTV) 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, 2020 – 2026

Published Date: Feb 2020  |  Report ID: GMI4542  |  Authors: Preeti Wadhwani, Prasenjit Saha

Report Format: PDF   |   Pages: 253   |   Base Year: 2019




Summary Table of Contents Industry Coverage Methodology

Industry Trends

U.S. Utility Terrain Vehicle Market size exceeded USD 4 billion in 2019 and is estimated to grow at a CAGR of over 5% between 2020 and 2026. The global industry shipments are projected to reach 450 thousand units by 2026. Rising consumer disposable income across California, Washington, and Utah will propel the market size.
 

The growing adoption of UTVs for utility applications including forestry, agriculture, and goods transport is driving the UTV market growth in the U.S. These vehicles offer several benefits such as compact size to work in small & remote spaces as well as improved towing capacity and fuel efficiency.
 

Moreover, the availability of a wide range of power & torque combinations in UTV variants along with the presence of several distributors in the region will support the industry growth. In addition, enhanced vehicle capacity, lower market price, and less maintenance of these vehicles are minimizing the overall ownership costs, supporting the vehicle adoption.
 

U.S. Utility Terrain Vehicle Market

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Increasing recreational spending along with the proliferation of off-road sport events will support the industry expansion during the forecast timeline. The presence of several sport & adventure clubs including Arkansas Crawlers 4×4 Club, Carolina Trailblazers, Georgia Trail Runners, and Keystone Off-road Club coupled with increasing number of organized sports events across the U.S. supported the growth of market size in 2019.
 

Consumers utilize these vehicles for several recreational applications including hunting, fishing, and forest traveling. Moreover, the availability of affordable side-by-side with various customization alternatives & engine capacities is further escalating the market revenue.
 

U.S. Utility Terrain Vehicle (UTV) Market Report Coverage
Report Coverage Details
Base Year: 2019 Market Size in 2019: USD 4 Billion (2019)
Historical Data for: 2016 to 2019 Forecast Period: 2020 to 2026
Forecast Period 2020 to 2026 CAGR: 5% 2026 Value Projection: USD 5.5 Billion (2026)
Pages: 253 Tables, Charts & Figures: 393
Geographies covered (40): Alabama, Alaska, Arizona, Arkansas, California, Colorado, Florida, Georgia, Idaho, Illinois, Indiana, Iowa, Kansas, Kentucky, Louisiana, Maine, Michigan, Minnesota, Mississippi, Missouri, Montana, Nebraska, Nevada New Mexico, North Carolina, North Dakota, Ohio, Oklahoma, Oregon, Pennsylvania, South Carolina, South Dakota, Tennessee, Texas, Utah, Virginia, Washington, West Virginia, Wisconsin, Wyoming
Segments covered: Displacement, Application
Companies covered (13): Arctic Cat, Inc., BMS Motorsports, Inc., Bombardier Recreational Products (BRP), Caterpillar Inc., CFMOTO, Deere & Company, Hisun Motors, Honda Motor Co., Ltd., Kawasaki Motors Corporation, KYMCO, Massimo Motor Sports, LLC, Polaris Inc., Yamaha Motor Co., Ltd.
Growth Drivers:
  • Increasing participation and spending in off-road recreational activities
  • Proliferating off-road sports events
  • High R&D investments and product innovation
Pitfalls & Challenges:
  • Environmental impact and safety concerns

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Growing demand for low-cost UTVs in light-duty application

The below 400cc segment held around 12% of the utility terrain vehicle (UTV) market share in 2018. The market demand for vehicles with displacement below 400 cc is increasing due to their low cost compared to other models. These vehicles are increasingly being used in light-duty applications including agriculture and forestry, attributing to the market trend. Companies manufacturing these vehicles are integrating longer frames, hydraulic steering systems, and enhanced suspensions to improve the overall vehicle operability, providing opportunities for the market expansion.
 

Increasing recreational activities, such as buggy riding and fishing, in the U.S. are propelling the market demand. Market players are developing new & advanced vehicles for youth. For instance, in March 2018, Polaris introduced RANHER 150 EFI with Youth RIDE COMMAND technology. The features include digital speed limiting, geofencing, and passcode protected safe start. The RANGER 150 EFI is powered by EFI 150 cc engine and offers seats for two riders. These innovations by manufacturers will provide a positive outlook to the market.
 

Increasing number of off-road racing events across the United States

U.S. UTV Market By Application

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The sports segment held market share of around 35% in 2019. The demand for these vehicles is rising significantly in sports applications due to increasing number of sport racing events across the U.S. Several clubs are organizing racing events and offering large prizes for winners. For instance, TEXPLEX Park announced a cash price of USD 110,000 for its UTV racing series 2020, which is going to be held in Dallas, Texas in between January and June 2020. This has led to increasing consumer participation, contributing to the market revenue.
 

The availability of groomed trails for riding side-by-side vehicles across the country is creating huge demand for these vehicles. Consumers are purchasing these vehicles to ride or race on dedicated side-by-side vehicle trails. Clubs across the country are also offering these vehicles on rent to enhance consumer participation, driving the market. Moreover, major racing events, such as Grand National Cross Country and UTV World Championship, are continuously attracting youth participants, boosting the U.S. utility terrain vehicle market size.
 

Industry players, such as Polaris Industries, are launching grant programs to help ATV/UTV clubs and associations. Launched in 2006, the T.R.A.I.L.S. grant program works with national, state, and local organizations in the U.S. to promote ATV/UTV riding. Such initiatives will accelerate market expansion.
 

Increasing numbers of off-road recreational activities across the Southern U.S.

Arizona UTV Market By Displacement

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The Southern U.S. segment accounted for the largest industry share in 2019. Southern U.S. is characterized by the presence of rocky mountain ranges, extensive forest cover, and year-round mild temperatures, making it ideal for outdoor recreational activities, supporting the industry trend.
 

UTV enthusiasts in Southern U.S. are increasingly participating in recreational activities owing to presence a wide variety of terrains such as deserts, water crossings, and mud pits, providing opportunities to the players in this market. In addition, the region is home to a few of the most popular UTV trails in the U.S. including Ride Royal Blue Resort (Tennessee), Ocala National Forest (Florida), and Red Creek Off-Road (Mississippi), which are expected to surge the adoption of these vehicles for recreational activities, supporting the U.S. UTV market expansion.
 

Arizona is the largest desert state in the U.S. and is leveraging the presence of multiple sand dunes by offering riding opportunities in the desert. Arizona is also among a few of the states that have not banned the use of these vehicles in deserts, which makes it an attractive option for riders in the region.
 

In addition, off-road trails in the state are characterized by a unique combination of mountains and deserts along with the presence of loose rock, attracting several skilled riders to test their expertise on the challenging tracks. The presence of Grand Canyon National Park offering rugged and rocky tracks will provide positive outlook to the market size.
 

Product innovations remain the key strategy to enhance market share

Companies operating the U.S. utility terrain vehicle market are developing eco-friendly vehicles owing to excessive sound and environmental pollution caused by traditional models. Moreover, the advent of hybrid off-road models had a positive impact on the market in 2018 owing to high fuel-efficiency and low emissions. Manufacturers are integrating new technologies to enhance their market share.
 

Market leaders including Yamaha and Honda are working on vehicles to reduce the overall weight for enhancing the vehicle’s weight to power ratio, thereby increasing fuel efficiency. Increasing availability and accessibility of off-road vehicles will propel the market share.
 

Some of the key players operating in the market include Arctic Cat, Inc., BMS Motorsports, Inc., BRP, Inc., CFMOTO, Deere & Company, Polaris, Inc., KYMCO, Kawasaki Motors Corporation, Honda Motor Co., Ltd., and Hisun Motors.
 

The U.S. UTV market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD and shipments in units from 2016 to 2026 for the following segments:
 

Market by Displacement

  • Below 400 cc
  • 400 – 800 cc
  • Above 800 cc

Market by By Application

  • Utility
  • Sports
  • Recreation
  • Military

The above information has been provided for the following states:

  • Alabama
  • Alaska
  • Arizona
  • Arkansas
  • California
  • Colorado
  • Florida
  • Georgia
  • Idaho
  • Illinois
  • Indiana
  • Iowa
  • Kansas
  • Kentucky
  • Louisiana
  • Maine
  • Michigan
  • Minnesota
  • Mississippi
  • Missouri
  • Montana
  • Nebraska
  • Nevada
  • New Mexico
  • North Carolina
  • North Dakota
  • Ohio
  • Oklahoma
  • Oregon
  • Pennsylvania
  • South Carolina
  • South Dakota
  • Tennessee
  • Texas
  • Utah
  • Virginia
  • Washington
  • West Virginia
  • Wisconsin
  • Wyoming
     

Frequently Asked Questions (FAQ) :

According to this forecast report by GMI, the global industry shipments are projected to reach 450 thousand units by 2026.
The sports segment held market share of around 35% in 2019 due to increasing number of sport racing events across the United States.
Some of the key players operating in the market include Arctic Cat, Inc., BMS Motorsports, Inc., BRP, Inc., CFMOTO, Deere & Company, Polaris, Inc., KYMCO, Kawasaki Motors Corporation, Honda Motor Co., Ltd., and Hisun Motors.

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