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Major participants in UTV market include
Industry players are striving to provide high quality products at cost effective prices through advanced manufacturing techniques. They are focusing to serve large customer base by expanding the distribution networks. Diversification of product portfolio and expansion of business operations are significantly contributing towards increasing revenue generation capabilities, driving the market size.
Need for vehicular features like improved stability and high torque as well as surging demand for UTVs offering larger storage and multiple seating configurations are supporting the demand for 400cc-800cc UTVs.
The industry share of MEA utility terrain vehicles is estimated to exhibit around 6.5% CAGR from 2019 to 2025.
The market size of MEA utility terrain vehicles was valued at over USD 870 million in 2018.
Robust economic growth and surging spending on recreational activities are driving UAE industry size.
The defense sector of MEA is significantly leveraging UTVs to offer better transportability and multi-mission capabilities across rough terrains.
Companies such as Yamaha Motor, John Deere, Polaris Industries Inc, Kubota Corporation, and Bombardier Recreational Products are delivering superior quality UTVs in MEA at cost-effective price through innovative manufacturing techniques.