Increasing demand for off-road vehicles and sport activities have significantly propelled the U.S. Utility Terrain Vehicle (UTV) market share in recent years. Technological advancements have played a crucial role in supporting the development of cutting-edge off-road UTV vehicles.
For instance, UTV manufacturers are now developing hybrid models that offer high fuel efficiency and produce lower emissions. Advent of such advanced vehicles have encouraged young & adult off-road vehicle enthusiasts to explore new recreational activities including motorcycle riding, trail sports, and adventure sports.
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Government authorities in the United States meanwhile are actively engaging in strengthening the outdoor recreational and travel & tourism industry. Regional sports clubs are organizing UTV racing events and offering great prizes to winners for encouraging customer participation. Initiatives like these have effectively raised the excitement of off-road enthusiasts for engaging in recreational and sports activities, driving new opportunities in U.S Utility Terrain Vehicles (UTV) Market.
In addition to this, increasing economic growth, rise in disposable income & per capita GDP, and growing urban population is strengthening product penetration. On this note, Global Market Insights, Inc., estimates that the U.S. Utility Terrain Vehicle (UTV) market may witness prominent growth between 2020-2026.
How will the 400cc-800cc vehicle segment contribute to U.S Utility Terrain Vehicles (UTV) Market share?
UTVs ranging from 400cc to 800cc are anticipated to witness significant demand owing to its offered safety features. These vehicles come with a roll cage structure that improves passenger safety, reducing the chances of fatalities and injuries.
They are also gaining popularity across events such as off-road desert championships. Moreover, automakers are focusing on developing technologically advanced UTVs, making them a viable option for off-road enthusiasts.
What is the significance of UTVs in the U.S. military sector?
In the military sector, UTVs are gaining immense traction owing to rising demand for vehicles that can offer enhanced safety and cutting-edge features. The U.S. government is investing in deploying cutting edge UTVs and upgrading existing ones to boost their application in the military sector.
For instance, in Dec. 2019, the U.S. Marine Corps (USMC) announced the upgradation of its existing UTVs. Reportedly, around 250 vehicles are upgraded with new tires, floorboards, tires, and other accessories to enhance overall functionality and safety. High emphasis on safety could further swell the demand for UTVs in the U.S. military and defense sector.
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How are industry participants contributing to U.S Utility Terrain Vehicles (UTV) Market size?
Companies operating in the U.S Utility Terrain Vehicles (UTV) Market are investing heavily in developing vehicles that are best suited for off-road competitions and outdoor recreational activities. Manufacturers are also funding several sport events to promote UTV adoption. Taking an instance to highlight the same, in Feb. 2017, Yamaha Motor Corp. declared grants of USD 350,000 to 26 recipients to promote UTVs usages in outdoor recreation through YOAI (Yamaha Outdoor Access Initiative). YOAI is also working on projects that offer a satisfactory and enjoyable experience to UTV riders.
Development of new UTVs with enhanced safety features such as independent suspensions for better stability, covered roof for rollover situations, all-terrain airless tires, efficient toggling between 2WD and 4WD, and sustainability in variable weather conditions could further boost sales, impelling U.S. UTV market size over 2026.
Table of Contents (ToC) of the report:
Chapter 1 Methodology & Scope
1.1.1 Initial data exploration
1.1.2 Statistical model and forecast
1.1.3 Definition and forecast parameters
184.108.40.206 Methodology and forecast parameters
1.2 Data Sources
Chapter 2 U.S Utility Terrain Vehicles (UTV) Market Summary
2.1 Business trends
2.2 Regional trends
Chapter 3 U.S Utility Terrain Vehicles (UTV) Market Insights
3.1 Industry segmentation
3.2 Industry landscape, 2016 - 2026
3.3 Consumer behavior analysis
3.3.1 Consumers participation analysis in UTV sport activity, by region
3.3.2 Consumers participation analysis in UTV recreational activity, by region
3.3.3 U.S. outdoor recreation participation demographics
3.4 Industry ecosystem analysis
3.4.1 Distribution channel analysis
3.4.2 Vendor matrix
3.5 Technological and innovation landscape
3.5.1 Four-wheel drive (4x4)
3.5.2 Independent suspension
3.5.3 Continuously Variable Transmission (CVT)
3.5.4 Electronic Fuel Injection (EFI)
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