Utility Terrain Vehicle (UTV) Market in MEA to Hit $465mn by 2025: Global Market Insights, Inc.
The MEA UTV market demand in the forecast period will be driven by rising spending in off-road trailing activities and increasing number of adventure clubs and parks.
SELBYVILLE, Del., June 27, 2019 (Newswire.com) - The MEA utility terrain vehicle market is poised to rise from USD 270 million in 2018 to over USD 465 million by 2025, according to a 2019 Global Market Insights, Inc. report. Growing demand of side by side vehicles in applications including agriculture, forestry and goods transportation will boost the market penetration.
The vehicles offer multiple benefits such as compact size to work in small and remote space and superior towing capacity. The availability of wide range of power and torque capacity along with several distributors in region will support the MEA utility terrain vehicle (UTV) market growth. Further, enhanced vehicle capacity and low maintenance of vehicles minimizes overall ownership costs.
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Increasing youth involvement in recreational activities such as hunting and fishing is driving the UTV market size in MEA. Consumers are focusing on deployment of side by side vehicles offering high productivity and power output. UTVs provide larger space and facilitates multiple passengers. Moreover, superior safety features including roll-cage-like body structures and bucket seats will support MEA utility terrain vehicle market growth by 2025.
Above 800 cc segment leads the utility terrain vehicle market in MEA owing to its increasing demand in sports and utility activities. Growing off-road racing competitions across the globe is driving the segment growth. The sports event requires higher displacement engines for enhanced power and greater torque to gain competitive advantages. Shifting trend from circuit racing to desert races will significantly influence MEA UTV market share over projected timeframe. Industry players are involved in new product launches to provide new vehicles with superior endurance, high power to weight ratio and increased reliability.
Browse key industry insights spread across 135 pages with 115 market data tables & 9 figures & charts from the report, “MEA Utility Terrain Vehicle Market Size By Displacement (Below 400 CC, 400-800 CC, Above 800 CC), By Application (Utility, Sports, Recreation, Military), Industry Analysis Report, Regional Outlook (Saudi Arabia, UAE, South Africa, Qatar, Egypt), Growth Potential, Price Trends, Competitive Market Share & Forecast, 2019 – 2025” in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/mea-utility-terrain-vehicles-market
Utility segment will witness steady growth in the MEA utility terrain vehicle (UTV) market share owing to its multiple applications in forestry, landscaping and agriculture activities. Increasing demand for supplies transport, plowing fields and managing livestock are escalating the product demand. Proven off-road durability, along with comfortable cabin will proliferate the segment penetration. Military segment is at nascent stage and will foresee considerable growth with its use for carrying armaments and troops in rough terrains. Manufacturers offering all terrain traction control for advanced vehicle performance will further stimulate the segment growth.
South Africa will register significant share in the MEA utility terrain vehicles (UTV) market owing to changing preferences to recreational activities including camping, hunting and forest adventures. Rising inclination of farmers and homeowners towards UTV for daily living will influence the market growth. Presence of quad biking facilities including Clarens Xtreme, Induna Adventures, Segwati Quad Trails, Soweto Outdoor Adventures and Kagga Kamma will positively support the industry share. Moreover, regional organizations engaged in arranging outdoor sport events will further enhance the volume demand in the study timeline.
Key industry players of the MEA UTV market include Polaris Industries, Bombardier Recreational Products (BRP), Kawasaki SA, Yamaha Motors, Honda Motors, and Kubota Corporation. Industry participants are expanding the product portfolio to support rescue operations and enhance its regional presence.
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All-Terrain Vehicle (ATV) Market Size By Product (Youth, Adult), By Displacement (Below 400cc, 400 - 800cc, Above 800cc), By Application (Utility, Sports, Recreation, Military) Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, UK, France, Italy, Spain, Russia, Sweden, China, India, Japan, Australia, Brazil, Mexico, Argentina, Saudi Arabia, UAE, South Africa), Growth Potential, Price Trends, Competitive Market Share & Forecast, 2019 – 2025
https://www.gminsights.com/industry-analysis/all-terrain-vehicle-atv-market
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