Utility Terrain Vehicle Market: World UTV 2015-2020 Research Analysis

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DeepResearchReports.com adds “2015 Global Utility Terrain Vehicle Industry” report to its research database.

The definition given for UTV (Utility Terrain Vehicle) by 2010 West Virginia Code, “Utility-terrain vehicle shall mean any motor vehicle with four or more low-pressure tires designed for off-highway use having bench or bucket seating for each occupant and a steering wheel for control.”

UTVs are widely used in sports, transport and defense. The key players involved in the manufacturing of the UTVs are Honda, Yamaha, Polaris, Kawasaki, John Deere and Suzuki.

History

The seeds of the UTV can be found in the year 1970 when Honda launched its first ATV (All Terrain Vehicle) in the market. The off road vehicle options available till then were 3 wheelers. Suzuki was the first to introduce its first four wheeled ATV in 1984 which is close to the current UTV. It had side by side seating arrangements and steering wheel for the navigation. Today there are more than 14 key players like Polaris, John Deere, Kawasaki and others which offer UTVs in different engine capacity and utility factors. You can find the detailed report on their plant capabilities, cost structures, and supplier’s information in the report - http://www.deepresearchreports.com/113578.html

Sports

This is one of the biggest markets for UTVs. Companies like Polaris have already taken a lead in this segment. They have offered UTVs in different categories like mud racers, snowmobiles etc. All the big players are launching their advanced models because of the widespread popularity of the sports events like 2015 UTV world championship.

Military

Military requirements are different as compared to other off road vehicle users. The military needs are speed, agility and ability to install weapons on vehicles. They need a long suspension and powerful engines in their machine to carry heavy payloads. Hence companies have a wide scope for the customization in UTVs according to the terrain and weather conditions for defense.

Polaris is one of the leading manufacturers of UTVs for defense. It has been awarded a contract to provide its MRZR UTVs by the United States Special Operations Command (USSOCOM) in 2013. The contract span is for 5 years. Prior to that, Kawasaki Teryx also has served the US Special Forces with a contract worth up to $28,390,453 for its model Teryx 750 FI 4x4 RUV.

Opportunities

One thing is obvious from the above discussion that you need to stay updated about the latest trends and market conditions in order to explore new opportunities. The company which will identify the potential market in different parts of the world will enjoy the bigger market share. The new entrants in the field of UTV manufacturing must keep watch on the current trends and capabilities of the existing companies.

You can find the current industry trends, manufacturer’s analysis and growth opportunities for UTV (Utility Terrain Vehicle) buy placing a purchase order of this report http://www.deepresearchreports.com/contacts/purchase.php?name=113578.

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Ritesh Tiwari
@chinamrreport
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