MEA utility terrain vehicles market to witness modest growth from military applications
Rising technological advancements and launch of robust, high-performance vehicle segments are anticipated to boost the MEA utility terrain vehicle market size. UTVs are powerful off-road vehicles that are designed to perform more challenging task and carry heavier loads compares to ATVs. They come with safety features like roll cages, seat beats and windshields that helps protect passengers from roll overs or potential accidents.
Saudi Arabia Utility Terrain Vehicles Market, By Application, 2018 & 2025, (USD Million)
These features become extremely important in applications like wildlife management, material handling, hunting, racing and more. The vehicle also comes with adequate storage space, offering users extra space to place items like tools, fuel cans, etc.
Rising spending in off-road trailing activities will drive the MEA UTV market share. Moreover, launch of high-performance UTVs will supplement industry growth. For instance, in 2019, Honda extended its Talon portfolio of side-by side, high-performance UTVs with two new four-seater segments.
South Africa utility terrain vehicle market will witness steady growth owing to multiple applications of UTV in forestry, landscaping and agriculture activities. Indeed, the agriculture sector of Africa is showing commendable progression owing to increased productivity and rural incomes. The growth can undeniably be attributed to adoption of improved agricultural technologies and use of vehicles like UTV.
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The UTV’s smaller sizes and versatility allow farmers to easily travel across large farmlands and undertake a wide variety of tasks. Notably, a UTV assists in carrying out task like quickly and easily transporting supplies across farm, plowing and harrowing fields, mowing grass, building fences, spreading seeds, managing cattle, carrying firewood and more.
With new UTV models being made specifically for farm operations, the South Africa UTV market would witness significant growth over the coming years. Prominent companies have been launching new UTVs in the region, replete with enhanced features like upgraded suspension and higher towing capacity. The region also boasts of the presence of quad biking facilities such as Induna Adventures, Soweto Outdoor Adventures, Clarens Xtreme, Kagga Kamma, and Segwati Quad Trails, that will positively boost the regional utility terrain vehicles industry share.
The MEA utility terrain vehicle market will garner commendable gains from military applications. UTVs are modular design vehicles that effectively meet the demands of military and international special forces. These lightweight tactical vehicles come in two or four seat variants which are fast and favor agility and durability.
Rapid deployment of innovative military UTVs that offer improved transportability and multi mission capabilities will augment industry size. Moreover, increasing military spending will offer new growth opportunities, enhancing MEA UTV business outlook.
For instance, Polaris has unveiled its MRZR® D4 ultra-light tactical off-road vehicle which delivers mobility, mission versatility, air-transportability, and durability along with 4 seat arrangements to transport personnel and mission-critical gear over extreme terrain more quickly and effectively.
Saudi Arabia market holds a significant share in the MEA utility terrain vehicles industry owing to rising application in recreational activities and racing events in the region. Several UTV championships are organized in Saudi Arabia under the General Entertainment Authority (GEA) which has attracted sports enthusiasts across the globe.
Saudi Arabia recently announced plans to host Rally Dakar, one of the world’s biggest and most challenging rally race, in January 2020 targeted for 4 different categories including UTV, cars, trucks and bikes. Increasing government funding and supportive initiatives targeted towards enhancement of recreational infrastructure will also support the UTV market share over the forecast timeframe.
UTV is a motorized vehicle designed to carry out a specific task in off road conditions with more efficacy than a normal passenger vehicle. Growing consumer spending and launch of improved vehicle portfolios will drive industry growth. Reports from Global Market Insights, Inc., estimates MEA utility terrain vehicles market to exceed USD 465 million by 2025.
Author Name : Mateen Dalal
UTV market to accumulate hefty proceeds from utility applications, U.S. to emerge as a pivotal revenue pocket over 2019-2025
The exponential growth map of the global UTV market can be aptly credited to the rising preference for a UTV in numerous in utility activities. In an effort to diversify their product offering, major UTV manufacturers are lately focusing on developing vehicles that can address different requirements from a varied array of application segments, including agriculture, construction & forestry, which serve to further propel the UTV market growth over the forthcoming years. Moreover, to keep these vehicles relevant for a particular application, industry players are also introducing new accessories, machines & attachments, which makes these already popular vehicles a must-have tool, thereby ensuring sustained growth for the UTV market.
U.S. Utility Terrain Vehicles (UTV) Market, By Application, 2018 & 2025, (USD Million)
It is prudent to mention that the industry is also receiving momentum from the improving global economic conditions leading to increasing disposal incomes, that has resulted in the popularity of UTVs growing exponentially for recreational activities, such as fishing, hunting & off-roading.
Global UTV market | Impact of USA’s expanding outdoor recreation market
The United States’ outdoor recreation market is known to be one of the nation’s largest economic sectors. The sector represents a sizable economic growth avenue that supports thousands of communities in America by facilitating millions of job opportunities for workers. The industry is largely supported by the nation’s bountiful waters, inspiring landscapes and iconic natural beauty. Thus, investments in this sector on public waters & lands are capable of earning compounding returns, promoting healthier economies, communities & people. According to the Outdoor Industry Association, the U.S. outdoor recreation industry annually generates over $887 billion in consumer spending that supports more than 7.6 million jobs and rakes in over $124.5 billion in federal, state & local taxes, making it one of the nation’s most lucrative investment ground.
It goes without saying that the UTV market accounts for a sizable chunk of this thriving industry. Unlike other off-road vehicles recreational UTVs are a unique blend of comfort & power, wherein the vehicle operator can perform any of the off-road activities with considerably more comfort. Moreover, UTVs also boast of larger cabin spaces that allow for greater number of passengers and also come with superior safety features such as roll-cages & bucket seats, giving these vehicles an edge over other off-roaders & further supporting market growth by eliminating the customer hesitancy factor in terms of vehicle safety.
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Global UTV market | Impact of increasing UTV adoption in agricultural activities
Traditionally ATVs were used to carry out a majority of agricultural activities, ranging from hauling fertilizer, wire & lumber, however, these practices were quite inefficient in terms of getting work done & lessening physical effort as the vehicle’s small size limited its load bearing & hauling capacity and the lack of power steering made the task very strenuous for the vehicle operator, defeating the purpose of using the vehicle in the first place. These limitations have started to drive individual farmers & other agricultural corporations away from ATVs, and most of them now prefer to invest in well-equipped UTVs, further propelling UTV adoption across the utility landscape in recent years.
Apart from offering these benefits, the UTVs also comfortably sit between a basic quadbikes (ATV) and a fully-fledged tractors or pickup trucks, thus, providing the UTV market with ample growth opportunities from agriculture, without having to compete with others for the position. Moreover, unlike their bigger as well as smaller counterparts, the UTVs, owing to the diverse array of accessories & additional attachments available in the market, can perform different activities ranging from transporting supplies and mowing grass to managing livestock and plowing the fields, ensuring their dominance across the field of agriculture. Thus, powered by their deployment in agriculture and landscaping activities, UTV industry size from the utility sector is slated to depict a CAGR of 6% over 2019-2025.
As is evident from the aforementioned trends, the global UTV market has clearly positioned itself in an extremely lucrative spot and is bound to exhibit sustained growth in the ensuing years. The growth prediction is further supported by a research report from Global Market Insights, Inc., which estimates that the global UTV market size would be surpassing the $9 billion renumeration mark by 2025.
Author Name : Akshay Kedari
U.S. off-road vehicles market to accumulate sizable returns from Arizona, industry valuation to cross USD 13.5 billion by 2024
The U.S. off-road vehicles (ORVs) market size, in recent times, has been the recipient of sizable gains, owing to the proliferation of outdoor activities in conjunction with the improving economic condition. ORVs are becoming increasingly popular especially among the youth across the U.S., as is obvious from the rising sales of SUVs, off-road dirt bikes & motorcycles, all-terrain vehicles (ATVs) and snowmobiles.
Arizona Off-Road Vehicles Market, By Vehicle, 2017 & 2024, (USD Million)
The mounting interest in off-road adventure activities is rather overt from the progress that the ATV industry has registered in the last few years. In 2017, the ATV Safety Institute (ASI) claimed that close to 35 million Americans use ATVs in the U.S., which would prove to majorly impel the U.S. off-road vehicles market size. ATV are bound to be used extensively in the agricultural sector for several tasks performed on farms and ranches such as general transportation, animal handling, weed control and fence mending.
The agricultural sector even now, remains one of the largest occupational arenas in the U.S. As per reliable estimates, 78% of ATVs are used for recreational purposes while 22% are used in occupational settings. In addition, the versatility of ATVs has also resulted in their use in small scale construction, manufacturing, search and rescue operations, police, utilities, mining and land management. The utility, affordability and ease of use associated with these vehicles has led to their massive adoption by the agricultural community, in turn facilitating the growth of U.S. off-road vehicles industry from ATVs.
It is vital to mention that the U.S. off-road vehicles industry has received massive support from the regional regulatory landscape. Organizations like the ATV Safety Institute have been training the youth and providing education regarding safety gears. The surging adoption of safety gears will also lead to the U.S. off-road vehicles market gaining substantial momentum in the years ahead. Even the Texas legal framework permits under-14s to drive ATVs under supervision. The enforcement of norms to enhance driver and passenger safety will boost the demand for ATVs, majorly propelling U.S. off-road vehicles market size from ATVs.
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Regionally speaking, California, Texas, and Arizona stand as the chief revenue pockets for the U.S. off-road vehicles industry. According to Global Market Insights, Inc., in 2017, California held around 10% of the U.S. off-road vehicles market share owing to the presence of several state parks and recreational areas for driving. Organizations such as California Department of Parks and Recreation’s Off-Highway Motor Vehicle Recreation Division (OHMVR) are also introducing Grants & Cooperative Agreements Program to encourage OHV adoption.
Arizona is also anticipated to witness steady growth in the ensuing years, essentially on account of the favorable regulations enforced in the region that now permits the usage of California-registered vehicles in its state parks. Indeed, Arizona, boasting of 365 riding days per year, is likely to emerge as one of hotspots for the expansion of the U.S. off-road vehicles market. The state is home to some of most iconic road trails that attract tourists across the globe, namely, the Harquahala Mountain Byway, Backway to Crown King, Broken Arrow Trail, and Cinder Hills OHV Area, every one of which boasts of being a popular off-roading community. As the popularity of these trails in addition to the many hundreds of trails that the state houses, increases by the day, U.S. off-road vehicles market players are likely to target Arizona as their potential investment hub.
Capable of driving effectively on paved or gravel surfaces, off-road vehicles have increasingly become popular owing to their versatility. The use of such high traction, higher clearance vehicles enables users to access trails and forest roads that define a rough terrain. Aided by a supportive regulatory framework and the robust demand across a slew of end-use domains, U.S. off-road vehicles market will depict a commendable growth graph ahead.
Author Name : Mateen Dalal
Off-road vehicles market to register substantial profits from the recreational segment, demand for snowmobiles to drive the industry growth
Boasting of a remuneration of over USD 19.5 billion in 2017, the global off-road vehicles (ORVs) market has gained massive traction over the past decade from sports events, recreational activities and crucial utility applications. The increase in the use of UTVs and SSVs for agricultural and hauling use owing to their size has promoted their advantages throughout the world, while growing attraction of extreme sports and motorsports among the youth has boosted the sales of ATVs and off-road motorbikes.
U.S. Off-Road Vehicles Market, By Vehicle, 2017 & 2024, (USD Million)
The utilization of ATVs for recreational and tourist activities has majorly outlined the off-road vehicles industry dynamics, garnering support from governments and the general public alike. Rising economic status of the working class population and the advent of successful entrepreneurs have created an emerging customer base for recreational events and the off-road vehicles market.
Although the introduction of ORVs arose out of particular needs in different conditions, the extensive benefits in other areas helped the popularity of ATVs to grow in applications like racing, beach use, military use and touring through national parks. Countries like Canada, U.S., South Africa and Australia have enormous state parks and natural reserves that are open to visitors and tourists, deploying a fleet of ORVs for traversing along predetermined as well as off-beat tracks. Subsequently, the off-road vehicles industry has been able to supply need-based products to the state agencies and private touring firms for catering to increasing recreational enthusiasts. The state of Wisconsin in the U.S. had announced plans in October of 2017 that it intends to add over 200 miles of access for ORVs in the Northern Highland-American Legion State Forest.
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Reportedly, the state government there has already spent millions of dollars for ATV trail development, though the Northern Highland-American Legion State Forest was yet to have ATV access, indicating a positive step towards growth of the off-road vehicles market in the region. The Wisconsin ATV-UTV Association had disclosed numbers showing that at the start of 2015, there were around 92,654 ATVS and 8,789 UTVs registered in the state. The region has been experiencing increased popularity of recreational family trips and tourist attraction, even during the winter season, which in many parts of the world represents tremendous earning potential for the off-road vehicles market, from the demand of snowmobiles.
The Yellowstone National Park in Wyoming, U.S., is an example of a such national park where the use of over-snow vehicles has been propagated for decades and consistent improvement in the vehicles has helped to overcome several issues regarding noise and pollution. Snowmobiles not only offer a convenient way for visitors to enjoy the park in winter conditions, but also allow the park personnel to do their challenging jobs and maintain the park utilities. In many places along the northern region of the earth, parks and forest trails where ATVs are used during rest of the year can still provide recreational activities in winter using snowmobiles. As such, the off-road vehicles market for recreational purposes can benefit from vast application scope in most of the northern countries.
According to statistics, about 46 million square kilometers of Earth’s surface is covered with snow every year, with 98% of the planet’s snow cover situated in the Northern Hemisphere. The Europe and North America has therefore, significantly contributed to the development and adoption of snowmobiles for short distance travelling, remote area goods transportation and for enabling recreational uses of lakes, parks and specially built trails. The sale of snowmobiles in the U.S., records indicate, had almost 58,300 units in 2015, which was a 20% rise over a two year period and demonstrated the existing prospects for the off-road vehicles industry.
Canada-based Bombardier Recreational Products (BRP) had also informed in 2017 that the company had profited from a robust demand for its recreational vehicles, with revenues from its season products, including snowmobiles, climbing 37.2% for the quarter ending January 31. BRP, operating in 100 plus countries, has proven that huge opportunities exist for recreational snowmobiles in the North America off-road vehicles market. Concerns regarding emissions and fuel efficiency have inspired many innovations in the manufacturing of ORVs. For instance, Taiga Motors in Montreal are developing an all-electric snowmobile that would help to counter stringent regulations at many national parks and forest in Europe and North America arising from environmental issues.
Owing to such efforts aimed at providing enhanced recreational vehicles and the escalated requirement for ATVs and snowmobiles across the Northern region, the recreation segment is estimated to hold approx. 25% of the off-road vehicles market share till 2024. Polaris Industries Inc., Wildcat, Bombardier Recreational Products, Caterpillar, Yamaha Motor Co., Ltd., KTM and Kawasaki Motors Corp, are major players spearheading the global off-road vehicles market share.
Author Name : Pankaj Singh
North America all-terrain vehicle (ATV) market to amass substantial gains by 2025
The emergence of several renowned automakers in all-terrain vehicle market is likely to have a major imprint on the future of ATVs. For instance, German-based world-class automaker, Mercedes-Benz revealed its E-class ATV in 2018. In the newly revealed ATV, the company included several advanced features such as sports beefier bumpers, plastic underbody protection, and typical body cladding focusing on consumer requirements.
U.S. All-Terrain Vehicle (ATV) Market, By Application, 2018 & 2025, (USD Million)
In addition, another well-known automaker, Jaguar made it to the headlines a couple of years back for planning to make various design variations in its Range Rover platform to make it feasible for ATVs. The development of highly advanced ATVs comprising various innovative features such as keyless entry, Wi-Fi hotspot, and powered gesture tailgate will thus boost all-terrain vehicle (ATV) industry share over the years ahead.
Furthermore, it is imperative to state that Honda has also developed an autonomous ATV for off-road work such as firefighting, rescue missions, and agricultural purposes, in which the company has implemented varieties of attachments that would help carry out the aforementioned functions. The deployment of such multipurpose ATVs, undeniably, is slated to stimulate all-terrain vehicle market outlook.
With the surging inventions of novel agricultural equipment, farmers have been working toward major land cultivation, focusing on increasing productivity. The availability of innovative farming equipment has indeed reduced the generation gap between tradition and present farming technology. The involvement of technology in the agricultural sector is thus likely to prove beneficial for the smoother transition of agricultural management to next generation farming, setting the base for the expansion of ATV market.
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Most of the farmers are increasingly becoming adaptable to the use of technologies for improving overall farm productivity. For the record, the adoption rate of such technologies is higher in U.S. as compared to the other countries.
As per Global Market Insights, Inc., over the coming years, North America will cover a substantial proportion of all-terrain vehicle market, owing to surging use of such technologically advanced equipment for forestry and agricultural purposes. Apart from that, the regional growth will also be driven by the presence of myriad industry contenders across the United States and Canada.
At present, ATVs are prominently gaining popularity across the defense sector, pertaining to their ease of application for border patrolling and other military activities. These vehicles offer advanced off-road technology and superior mobility at a very affordable price, which is one of the factors driving all-terrain vehicle industry size. In fact, several regional governments have also been establishing joint ventures with leading giants in ATV market.
For instance, in 2017, the United States Marine Corp. has signed a contract with the renowned leader in off-road vehicle production, Polaris Government and Defense in order to improve its marine operational capabilities with the deployment of utility task vehicles. Taking into account the increasing requirement of ATVs for defense applications, Polaris is investing significantly in research and development activities to improve the handling of vehicles for a highly responsive ride and enhanced maneuverability. Indeed, this validates that continuous product enhancements of robotic vehicles will certainly fuel ATV industry share.
Considering the vast expanse of all-terrain vehicle (ATV) market, companies have been constantly focusing on new product developments in order to expand their product portfolios. In fact, performance and versatility are the major design factors that researchers have been concentrating on, of late.
The increasing upgradation in existing vehicle technology with advanced infotainment systems and installation of advanced safety features, undoubtedly is slated to propel all-terrain vehicle (ATV) industry share. As per estimates, global all-terrain vehicle (ATV) market size will surpass USD 3.3 billion by 2025.
Author Name : Sunil Hebbalkar