The global utility vehicle market is anticipated to grow at a considerable CAGR of 10.3% during the forecast period (2022-2028). One of the core factors driving the market is the growing participation of the market players which has increased the competition in the market. In recent years, market players have been launching their new vehicles in the segment to stay in the competition, which has boosted the market significantly. The utility vehicles can be used for other works, and drive off-road which has increased the interest of consumers in recent years. It also gets equipped with advanced features such as ADAS, automotive braking, and more which also appeals to most young consumers.
Browse the full report description of “Global Utility Vehicle Market Size, Share & Trends Analysis Report by Vehicle Type (Sport Utility Vehicle, Multi Utility Vehicle, and Utility Terrain Vehicle), by Propulsion Type (Internal Combustion Engine, Electric, and Others), and by Application, (Passenger Commute, Industrial, Agricultural, and Sports) Forecast Period (2022-2028)” at https://www.omrglobal.com/industry-reports/utility-vehicle-market
For instance, in October 2021, MG launched its another SUV, MG Astor. In India, MG has offered only SUVs such as Hector, ZS EV, Gloster, and Hector Plus. Moreover, in April 2021, Arctic Cat announced a new ATV, being part of its model year 2022 lineup, the new Alterra 600 EPS features an all-new drivetrain, engine, and chassis that offers increased power, easier servicing, and better handling.
In India, at the time of Diwali, an Indian festival, 2021, most of the automobile market players launched their new SUV vehicles such as Tata Punch micro SUV, Volkswagen Taigun, Mahindra XUV700, Force Gurkha, Jeep Compass Trailhawk, and others.
Market Coverage
• The market number available for – 2021-2028
• Base year- 2021
• Forecast period- 2022-2028
• Segment Covered-
o By Vehicle Type
o By Propulsion Type
o By Application
• Regions Covered-
o North America
o Europe
o Asia-Pacific
o Rest of the World
• Competitive Landscape- including BRP Inc., John Deere, Honda Motor Co., Ltd., Mahindra & Mahindra Ltd., Yamaha Motor Co., Ltd., and others.
Key questions addressed by the report
• What is the market growth rate?
• Which segment and region dominate the market in the base year?
• Which segment and region will project the fastest growth in the market?
• How COVID-19 impacted the market?
o Deviation from the pre-COVID-19 forecast
o Most affected region and segment
• Who is the leader in the market?
• How players are addressing challenges to sustain growth?
• Where is the investment opportunity?
Global Utility Vehicle Market Report Segment
By Vehicle Type
By Propulsion Type
By Application
Global Utility Vehicle Market Report Segment by Region
North America
• US
• Canada
Europe
• UK
• Germany
• Italy
• Spain
• France
• Rest of Europe
Asia-Pacific
• China
• India
• Japan
• South Korea
• Rest of Asia-Pacific
Rest of the World
• Latin America
• Middle East & Africa
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