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Research Outline
Prepared for Caren C. | Delivered July 11, 2019
Utility Vehicles Market
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Goals
You are interested in the following:
The market size of utility vehicles in the US.
The key players in the US utility vehicle industry and their market share.
The retail distribution of US utility vehicles.
Trends in the US utility vehicle industry.
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Early Findings
The global market size for utility task vehicles (UTV) was
$4.35 billio
n in 2017 and is expected to reach
$5.3 billion
by 2023. North America — the US, Canada, and Mexico — had a
72.3%
share of the market which means its UTV market size in 2017 was
$3.1 billion.
Pickup trucks account for
16.4%
of the US light vehicle market while sport utility vehicle (SUV) have an 8.6% share, and vans have a
5.3% share
.
The US companies dominating the UTV industry include Polaris Industries and
Bobcat Company.
Polaris Industries manufactures snowmobiles and ATV. The company's CEO is
Scott Wine
. His Linked profile can be found
here.
Bobcat manufactures i
ndustrial & construction
equipment such as excavators, loaders, and other utility companies. Its CEO is
Scott Park.
The main factors driving the UTV market include the increase in the number of youths participating in
recreational activities l
ike hunting in the US.
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