DUBLIN, April 5, 2023 /PRNewswire/ — The “Fun Utility Vehicles Market – Global Industry Size, Share, Trends, Opportunity, and Forecast, 2017-2027Segmented By Type, By Range, By End Use, By Region” report has been added to ResearchAndMarkets.com’s offering.
Global fun utility vehicles (FUV) market may register impressive growth in the forecast period, 2023-2027, due to increasing demand for electric vehicles. Rising concerns regarding environmentally friendly vehicles will also drive the development of the global fun utility vehicles (FUV) market in the upcoming five years.
Increasing concerns regarding degrading environmental conditions and the depleting atmosphere is also significant reason that is anticipated to support the growth of the global fun utility vehicles (FUV) market in the next five years.
Rising Innovations in Automotive Sector Drive Market Growth
Rapidly growing advancements in vehicles are actively driving the growth of the global fun utility vehicle (FUV) market in the upcoming five years. Concerns for the environment, depleting resources, and surge in energy and power resource consumption are substantiating the growth of the global fun utility vehicles (FUV) market in the next five years. Exhaustive fumes and toxins released by diesel, petrol, and oil-based vehicles pose a major threat to the environment. To compensate for the non-renewable resources, the energy demands are majorly being derived by electric vehicles.
Electric vehicles are more popular among the young adult population with higher disposable incomes. According to the United Nations Department of Economic and Social Affairs, In 2019, there were about 1.2 billion youth aged 15 to 24 years in the world, or 16 percent of the global population. These are the main customer base for FUV and thus substantially support the growth of the global sun utility vehicles (FUV) market in the upcoming five years.
Growing Concerns Regarding Environment Supports Market Growth
Excessive toxic and exhaustive gases released out of automobiles cause severe damage to the environment. Along with the government, the consumers are gaining concerns and are actively supporting the motions of saving the environment from growing pollution. A surge in demand for environment-friendly vehicles and other shifts in the preferences of the consumer toward electric vehicles supports the growth of the global fun utility vehicle (FUV) market in the upcoming five years.
Moreover, increasing investments in the electric vehicle charging infrastructure and localized vendors & charging unit suppliers are further aiding the growth of the global fun utility vehicle (FUV) market in the next five years. These vehicles are well-supported and run efficiently on chargeable batteries. Multiple charging units and the effective inclination of using electric energy over combustible fuel to charge the vehicles are facilitating the growth of the global fun utility vehicle (FUV) market in the future five years.
Report Scope:
In this report, global fun utility vehicles (FUV) market has been segmented into the following categories, in addition to the industry trends, which have also been detailed below:
Fun Utility Vehicles (FUV) Market, By Type:
Two-Wheeled
Three-Wheeled Vehicle
Fun Utility Vehicles (FUV) Market, By Range:
Less than 50 Miles
50-100 Miles
Above 100 Miles
Fun Utility Vehicles (FUV) Market, By End Use:
Personal
Delivery
Others
Fun utility vehicles (FUV) Market, By Region:
North America
United States
Mexico
Canada
Asia-Pacific
China
India
Japan
Malaysia
Thailand
Indonesia
Vietnam
South Korea
Europe & CIS
France
Germany
United Kingdom
Spain
Italy
Russia
South America
Brazil
Argentina
Colombia
Middle East & Africa
South Africa
Saudi Arabia
UAE
Egypt
Turkey
Key Topics Covered:
1. Product Overview
2. Research Methodology
3. Executive Summary
4. Impact of COVID-19 on Global Fun Utility Vehicle (FUV) Market
5. Voice of Customer
6. Global Fun Utility Vehicle (FUV) Market Outlook
7. North America Fun Utility Vehicle (FUV) Market Outlook
8. Asia Pacific Fun Utility Vehicle (FUV) Market Outlook
9. Europe & CIS Fun Utility Vehicle (FUV) Market Outlook
10. South America Fun Utility Vehicle (FUV) Market Outlook
11. Middle East and Africa Fun Utility Vehicle (FUV) Market Outlook
12. Market Dynamics
13. Market Trends and Developments
14. Competitive Landscape
15. Strategic Recommendations
16. About Us & Disclaimer
A selection of companies mentioned in this report includes
Arcimoto, Inc.
NIO
Li Auto Inc.
Guangzhou Xiaopeng Motors Technology Co Ltd
For more information about this report visit https://www.researchandmarkets.com/r/7qwwzn
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