U.S. Utility Terrain Vehicle Market Share

U.S. Utility Terrain Vehicle Market Share

• Top 5 companies of U.S. utility terrain vehicle (UTV) market are Polaris, Arctic Cat, DRR USA, CFMOTO USA, BRP holding around 50% of the market in 2023.
   

• Polaris is gaining a market position through continuous innovation in vehicles. The company is known for its highly sold Polaris RZR XP. This model Polaris RZR XP is built with seven-inch touchscreen display and GPS navigation.
   
• The RZR XP models are equipped with the category-leading 999cc and 114-horsepower engine. The factory-installed Rockford Fosgate Stage 3 Audio delivers powerful sound for a thrilling audio experience. 
   
• Arctic Cat UTV product mix includes prowler and wildcat. Its basic UTV model starts with a price range of USD 14,000. The company is known for this Prowler Pro Crew EPS, which is built with CVTech TrailBloc clutches.
   
• DRR USA designed and patented the only electric UTV available in the U.S. Its DRR USA EV Stealth model has 4kW electric motor built to support 72 volts of power. This model’s price starts at around USD 9,000 with financing options.
   
• CFMOTO USA offers various models of UTV with available options of 2 and 4 seating. ZFORCE 950 SPORT UTV offers 963cc displacement and V-Twin, liquid cooled, & 4-stroke engine.
   

U.S. Utility Terrain Vehicle Market Companies

Major players operating in the U.S. utility terrain vehicle industry are:

• Arctic Cat
• BMS Motorsports
• BRP
• CFMOTO USA
• DRR USA
• HISUN
• Honda Motor
• Kawasaki Motors
• Polaris
• Yamaha Motor
   

Market leaders are continuously capitalizing on different market opportunities such as formations of partnerships and collaboratives, mergers and acquisitions, new launches and innovations, investment in research and development and so much more. This is useful as it allows the integration of new features and technologies relevant to UTV. Companies are also introducing new products to strengthen their product portfolio.
 

To stay relevant in the competitive market, large businesses are pouring investment into research and development. R&D investment allows companies to facilitate growth in innovation within industry. Similarly, manufacturers’ partnering with other forces in the market allows for improved business reach, resources, and innovation into their offerings. For instance, in April 2024, Massimo Group signed an agreement with Fleet Farm. Through this partnership Fleet Farm will sell Massimo products in its stores across U.S.