NEW YORK, Nov. 15, 2022 /PRNewswire/ — The utility vehicle market is set to grow by 9300 thousand units between 2021 and 2026 according to Technavio’s latest market research report estimates. Factors such as an increase in penetration of AWD and 4WD vehicles, rising demand for utility vehicles, and government rules to support driving utility vehicles such as UTVs on the road will offer immense growth opportunities. To leverage the current options, market vendors must strengthen their foothold in the fast-growing segments, while maintaining their positions in the slow-growing segments. The utility vehicle market is fragmented, and the degree of fragmentation will decelerate during the forecast period. Request a Free Sample Report.
Utility Vehicle Market 2022-2026: Vendor Analysis
To help businesses improve their market position, the utility vehicle market provides a detailed analysis of around 25 vendors operating in the market. Some of these vendors include AB Volvo, Bayerische Motoren Werke AG, Bombardier Recreational Products Inc., Deere and Co., Ford Motor Co., General Motors Co., Honda Motor Co. Ltd., Hyundai Motor Co., Hyundai Motor Group, Kawasaki Heavy Industries Ltd., Mahindra and Mahindra Ltd., Mercedes Benz Group AG, Tata Sons Pvt. Ltd., Toyota Motor Corp., Volkswagen AG, and Yamaha Motor Co. Ltd.
- AB Volvo: The company offers utility vehicles that have an electric motor and petrol engine which work for the ultimate plug-in hybrid SUV for fewer tailpipe emissions, more traction, and instant power.
- Bayerische Motoren Werke AG: The company offers utility vehicles that have sporty design enhancements like the Aerodynamic Kit, M wheels, and optional Misano Blue Metallic paint with the available M Sport Package.
- Ford Motor Co.: The company offers utility vehicles that have a bold front grille which gives an aura of rugged masculinity with color-coordinated seats, door accents and a charcoal black dashboard.
- General Motors Co.: The company offers utility vehicles that are equipped with advanced safety technologies to help the passengers stay safe, and with an available built-in Wi-Fi Hotspot, passengers can stay connected and entertained on the go.
- Hyundai Motor Co.: The company offers utility vehicles with panoramic moonroofs which flood the cabin with fresh air and natural light, adding a touch of luxury to drive.
To find additional highlights on the growth strategies adopted by vendors and their product offerings, Read a Free Sample Report.
Utility Vehicle Market 2022-2026: Segmentation
- Type
- SUV
- The utility vehicle market share growth by the SUV segment will be significant during the forecast period. When compared to other categories, such as the multi-utility vehicle (MUV) and utility task vehicle (UTV) segments, the sports utility vehicle (SUV) sector in the global utility vehicle market is anticipated to have considerable growth in terms of market revenue over the forecast period.
- This is because SUVs have more advantages over passenger cars, including higher load-carrying capacities, more passenger space, and enhanced safety and comfort while off-roading, which drives up demand for SUVs internationally. Such factors of SUVs will boost the utility vehicle market growth during the forecast period.
- MUV
- UTV
- Geography
- APAC
- APAC will account for 57% of market growth. The main utility vehicle markets in APAC are China, Japan, and India. This region’s market will expand more quickly than those in other areas. Over the projection period, the expansion of the utility vehicle market in APAC would be aided by the increased popularity of UTVs in China and India and the rising disposable income of the general populace.
- Europe
- North America
- South America
- Middle East And Africa
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Utility Vehicle Market 2022-2026: Key Highlights
- CAGR of the market during the forecast period
- Detailed information on factors that will assist utility vehicle market growth during the next five years
- Estimation of the utility vehicle market size and its contribution to the parent market
- Predictions on upcoming trends and changes in consumer behavior
- The growth of the utility vehicle market
- Analysis of the market’s competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of utility vehicle market vendors
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Luxury SUV Market by Type and Geography – Forecast and Analysis 2022-2026: The report extensively covers luxury SUV market segmentation by type (mid-size luxury SUVs and full-size luxury SUVs) and geography (North America, APAC, Europe, South America, and Middle East and Africa).
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Utility Vehicle Market Scope |
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Report Coverage |
Details |
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Page number |
120 |
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Base year |
2021 |
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Forecast period |
2022-2026 |
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Growth momentum & CAGR |
Decelerate at a CAGR of 4.77% |
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Market growth 2022-2026 |
9300 th units |
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Market structure |
Fragmented |
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YoY growth (%) |
5.24 |
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Regional analysis |
APAC, Europe, North America, South America, and Middle East and Africa |
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Performing market contribution |
APAC at 57% |
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Key consumer countries |
US, China, Japan, India, and Germany |
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Competitive landscape |
Leading companies, competitive strategies, consumer engagement scope |
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Companies profiled |
AB Volvo, Bayerische Motoren Werke AG, Bombardier Recreational Products Inc., Deere and Co., Ford Motor Co., General Motors Co., Honda Motor Co. Ltd., Hyundai Motor Co., Hyundai Motor Group, Kawasaki Heavy Industries Ltd., Mahindra and Mahindra Ltd., Mercedes Benz Group AG, Mitsubishi Motors Corp., Renault sas, SAIC Motor Corp. Ltd., Suzuki Motor Corp., Tata Sons Pvt. Ltd., Toyota Motor Corp., Volkswagen AG, and Yamaha Motor Co. Ltd. |
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Market Dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and future consumer dynamics, and market condition analysis for the forecast period. |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
Table of Contents
1 Executive Summary
- 1.1 Market overview
- Exhibit 01: Executive Summary – Chart on Market Overview
- Exhibit 02: Executive Summary – Data Table on Market Overview
- Exhibit 03: Executive Summary – Chart on Global Market Characteristics
- Exhibit 04: Executive Summary – Chart on Market by Geography
- Exhibit 05: Executive Summary – Chart on Market Segmentation by Type
- Exhibit 06: Executive Summary – Chart on Incremental Growth
- Exhibit 07: Executive Summary – Data Table on Incremental Growth
- Exhibit 08: Executive Summary – Chart on Vendor Market Positioning
2 Market Landscape
- 2.1 Market ecosystem
- Exhibit 09: Parent market
- Exhibit 10: Market Characteristics
3 Market Sizing
- 3.1 Market definition
- Exhibit 11: Offerings of vendors included in the market definition
- 3.2 Market segment analysis
- Exhibit 12: Market segments
- 3.3 Market size 2021
- 3.4 Market outlook: Forecast for 2021-2026
- Exhibit 13: Chart on Global – Market size and forecast 2021-2026 (thousand units)
- Exhibit 14: Data Table on Global – Market size and forecast 2021-2026 (thousand units)
- Exhibit 15: Chart on Global Market- Year-over-year growth 2021-2026 (%)
- Exhibit 16: Data Table on Global Market- Year-over-year growth 2021-2026 (%)
4 Five Forces Analysis
- 4.1 Five forces summary
- Exhibit 17: Five forces analysis – Comparison between 2021 and 2026
- 4.2 Bargaining power of buyers
- Exhibit 18: Chart on Bargaining power of buyers – Impact of key factors 2021 and 2026
- 4.3 Bargaining power of suppliers
- Exhibit 19: Bargaining power of suppliers – Impact of key factors in 2021 and 2026
- 4.4 Threat of new entrants
- Exhibit 20: Threat of new entrants – Impact of key factors in 2021 and 2026
- 4.5 Threat of substitutes
- Exhibit 21: Threat of substitutes – Impact of key factors in 2021 and 2026
- 4.6 Threat of rivalry
- Exhibit 22: Threat of rivalry – Impact of key factors in 2021 and 2026
- 4.7 Market condition
- Exhibit 23: Chart on Market condition – Five forces 2021 and 2026
5 Market Segmentation by Type
- 5.1 Market segments
- Exhibit 24: Chart on Type – Market share 2021-2026 (%)
- Exhibit 25: Data Table on Type – Market share 2021-2026 (%)
- 5.2 Comparison by Type
- Exhibit 26: Chart on Comparison by Type
- Exhibit 27: Data Table on Comparison by Type
- 5.3 SUV – Market size and forecast 2021-2026
- Exhibit 28: Chart on SUV – Market size and forecast 2021-2026 (thousand units)
- Exhibit 29: Data Table on SUV – Market size and forecast 2021-2026 (thousand units)
- Exhibit 30: Chart on SUV – Year-over-year growth 2021-2026 (%)
- Exhibit 31: Data Table on SUV – Year-over-year growth 2021-2026 (%)
- 5.4 MUV – Market size and forecast 2021-2026
- Exhibit 32: Chart on MUV – Market size and forecast 2021-2026 (thousand units)
- Exhibit 33: Data Table on MUV – Market size and forecast 2021-2026 (thousand units)
- Exhibit 34: Chart on MUV – Year-over-year growth 2021-2026 (%)
- Exhibit 35: Data Table on MUV – Year-over-year growth 2021-2026 (%)
- 5.5 UTV – Market size and forecast 2021-2026
- Exhibit 36: Chart on UTV – Market size and forecast 2021-2026 (thousand units)
- Exhibit 37: Data Table on UTV – Market size and forecast 2021-2026 (thousand units)
- Exhibit 38: Chart on UTV – Year-over-year growth 2021-2026 (%)
- Exhibit 39: Data Table on UTV – Year-over-year growth 2021-2026 (%)
- 5.6 Market opportunity by Type
- Exhibit 40: Market opportunity by Type (thousand units)
6 Customer Landscape
- 6.1 Customer landscape overview
- Exhibit 41: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria
7 Geographic Landscape
- 7.1 Geographic segmentation
- Exhibit 42: Chart on Market share by geography 2021-2026 (%)
- Exhibit 43: Data Table on Market share by geography 2021-2026 (%)
- 7.2 Geographic comparison
- Exhibit 44: Chart on Geographic comparison
- Exhibit 45: Data Table on Geographic comparison
- 7.3 APAC – Market size and forecast 2021-2026
- Exhibit 46: Chart on APAC – Market size and forecast 2021-2026 (thousand units)
- Exhibit 47: Data Table on APAC – Market size and forecast 2021-2026 (thousand units)
- Exhibit 48: Chart on APAC – Year-over-year growth 2021-2026 (%)
- Exhibit 49: Data Table on APAC – Year-over-year growth 2021-2026 (%)
- 7.4 Europe – Market size and forecast 2021-2026
- Exhibit 50: Chart on Europe – Market size and forecast 2021-2026 (thousand units)
- Exhibit 51: Data Table on Europe – Market size and forecast 2021-2026 (thousand units)
- Exhibit 52: Chart on Europe – Year-over-year growth 2021-2026 (%)
- Exhibit 53: Data Table on Europe – Year-over-year growth 2021-2026 (%)
- 7.5 North America – Market size and forecast 2021-2026
- Exhibit 54: Chart on North America – Market size and forecast 2021-2026 (thousand units)
- Exhibit 55: Data Table on North America – Market size and forecast 2021-2026 (thousand units)
- Exhibit 56: Chart on North America – Year-over-year growth 2021-2026 (%)
- Exhibit 57: Data Table on North America – Year-over-year growth 2021-2026 (%)
- 7.6 South America – Market size and forecast 2021-2026
- Exhibit 58: Chart on South America – Market size and forecast 2021-2026 (thousand units)
- Exhibit 59: Data Table on South America – Market size and forecast 2021-2026 (thousand units)
- Exhibit 60: Chart on South America – Year-over-year growth 2021-2026 (%)
- Exhibit 61: Data Table on South America – Year-over-year growth 2021-2026 (%)
- 7.7 Middle East and Africa – Market size and forecast 2021-2026
- Exhibit 62: Chart on Middle East and Africa – Market size and forecast 2021-2026 (thousand units)
- Exhibit 63: Data Table on Middle East and Africa – Market size and forecast 2021-2026 (thousand units)
- Exhibit 64: Chart on Middle East and Africa – Year-over-year growth 2021-2026 (%)
- Exhibit 65: Data Table on Middle East and Africa – Year-over-year growth 2021-2026 (%)
- 7.8 China – Market size and forecast 2021-2026
- Exhibit 66: Chart on China – Market size and forecast 2021-2026 (thousand units)
- Exhibit 67: Data Table on China – Market size and forecast 2021-2026 (thousand units)
- Exhibit 68: Chart on China – Year-over-year growth 2021-2026 (%)
- Exhibit 69: Data Table on China – Year-over-year growth 2021-2026 (%)
- 7.9 US – Market size and forecast 2021-2026
- Exhibit 70: Chart on US – Market size and forecast 2021-2026 (thousand units)
- Exhibit 71: Data Table on US – Market size and forecast 2021-2026 (thousand units)
- Exhibit 72: Chart on US – Year-over-year growth 2021-2026 (%)
- Exhibit 73: Data Table on US – Year-over-year growth 2021-2026 (%)
- 7.10 Germany – Market size and forecast 2021-2026
- Exhibit 74: Chart on Germany – Market size and forecast 2021-2026 (thousand units)
- Exhibit 75: Data Table on Germany – Market size and forecast 2021-2026 (thousand units)
- Exhibit 76: Chart on Germany – Year-over-year growth 2021-2026 (%)
- Exhibit 77: Data Table on Germany – Year-over-year growth 2021-2026 (%)
- 7.11 Japan – Market size and forecast 2021-2026
- Exhibit 78: Chart on Japan – Market size and forecast 2021-2026 (thousand units)
- Exhibit 79: Data Table on Japan – Market size and forecast 2021-2026 (thousand units)
- Exhibit 80: Chart on Japan – Year-over-year growth 2021-2026 (%)
- Exhibit 81: Data Table on Japan – Year-over-year growth 2021-2026 (%)
- 7.12 India – Market size and forecast 2021-2026
- Exhibit 82: Chart on India – Market size and forecast 2021-2026 (thousand units)
- Exhibit 83: Data Table on India – Market size and forecast 2021-2026 (thousand units)
- Exhibit 84: Chart on India – Year-over-year growth 2021-2026 (%)
- Exhibit 85: Data Table on India – Year-over-year growth 2021-2026 (%)
- 7.13 Market opportunity by geography
- Exhibit 86: Market opportunity by geography (thousand units)
8 Drivers, Challenges, and Trends
- 8.1 Market drivers
- 8.2 Market challenges
- 8.3 Impact of drivers and challenges
- Exhibit 87: Impact of drivers and challenges in 2021 and 2026
- 8.4 Market trends
9 Vendor Landscape
- 9.1 Overview
- 9.2 Vendor landscape
- Exhibit 88: Overview on Criticality of inputs and Factors of differentiation
- 9.3 Landscape disruption
- Exhibit 89: Overview on factors of disruption
- 9.4 Industry risks
- Exhibit 90: Impact of key risks on business
10 Vendor Analysis
- 10.1 Vendors covered
- Exhibit 91: Vendors covered
- 10.2 Market positioning of vendors
- Exhibit 92: Matrix on vendor position and classification
- 10.3 AB Volvo
- Exhibit 93: AB Volvo – Overview
- Exhibit 94: AB Volvo – Business segments
- Exhibit 95: AB Volvo – Key news
- Exhibit 96: AB Volvo – Key offerings
- Exhibit 97: AB Volvo – Segment focus
- 10.4 Bayerische Motoren Werke AG
- Exhibit 98: Bayerische Motoren Werke AG – Overview
- Exhibit 99: Bayerische Motoren Werke AG – Business segments
- Exhibit 100: Bayerische Motoren Werke AG – Key news
- Exhibit 101: Bayerische Motoren Werke AG – Key offerings
- Exhibit 102: Bayerische Motoren Werke AG – Segment focus
- 10.5 Ford Motor Co.
- Exhibit 103: Ford Motor Co. – Overview
- Exhibit 104: Ford Motor Co. – Business segments
- Exhibit 105: Ford Motor Co. – Key news
- Exhibit 106: Ford Motor Co. – Key offerings
- Exhibit 107: Ford Motor Co. – Segment focus
- 10.6 General Motors Co.
- Exhibit 108: General Motors Co. – Overview
- Exhibit 109: General Motors Co. – Business segments
- Exhibit 110: General Motors Co. – Key news
- Exhibit 111: General Motors Co. – Key offerings
- Exhibit 112: General Motors Co. – Segment focus
- 10.7 Hyundai Motor Co.
- Exhibit 113: Hyundai Motor Co. – Overview
- Exhibit 114: Hyundai Motor Co. – Business segments
- Exhibit 115: Hyundai Motor Co. – Key news
- Exhibit 116: Hyundai Motor Co. – Key offerings
- Exhibit 117: Hyundai Motor Co. – Segment focus
- 10.8 Mercedes Benz Group AG
- Exhibit 118: Mercedes Benz Group AG – Overview
- Exhibit 119: Mercedes Benz Group AG – Product / Service
- Exhibit 120: Mercedes Benz Group AG – Key offerings
- 10.9 Renault sas
- Exhibit 121: Renault sas – Overview
- Exhibit 122: Renault sas – Product / Service
- Exhibit 123: Renault sas – Key news
- Exhibit 124: Renault sas – Key offerings
- 10.10 Tata Sons Pvt. Ltd.
- Exhibit 125: Tata Sons Pvt. Ltd. – Overview
- Exhibit 126: Tata Sons Pvt. Ltd. – Business segments
- Exhibit 127: Tata Sons Pvt. Ltd. – Key offerings
- Exhibit 128: Tata Sons Pvt. Ltd. – Segment focus
- 10.11 Toyota Motor Corp.
- Exhibit 129: Toyota Motor Corp. – Overview
- Exhibit 130: Toyota Motor Corp. – Business segments
- Exhibit 131: Toyota Motor Corp. – Key news
- Exhibit 132: Toyota Motor Corp. – Key offerings
- Exhibit 133: Toyota Motor Corp. – Segment focus
- 10.12 Volkswagen AG
- Exhibit 134: Volkswagen AG – Overview
- Exhibit 135: Volkswagen AG – Business segments
- Exhibit 136: Volkswagen AG – Key offerings
- Exhibit 137: Volkswagen AG – Segment focus
11 Appendix
- 11.1 Scope of the report
- 11.2 Inclusions and exclusions checklist
- Exhibit 138: Inclusions checklist
- Exhibit 139: Exclusions checklist
- 11.3 Currency conversion rates for US$
- Exhibit 140: Currency conversion rates for US$
- 11.4 Research methodology
- Exhibit 141: Research methodology
- Exhibit 142: Validation techniques employed for market sizing
- Exhibit 143: Information sources
- 11.5 List of abbreviations
- Exhibit 144: List of abbreviations
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Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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