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U.S. Utility Vehicle Market Size - By Cargo Configuration (With Bed, Without bed), By Propulsion (Gasoline, Diesel, Electric), By Drivetrain Configuration (2WD,4WD), By Application & Forecast, 2024 - 2032

  • Report ID: GMI9785
  • Published Date: Jun 2024
  • Report Format: PDF

U.S. Utility Vehicle Market Size

U.S. Utility Vehicle Market size was valued at USD 391.7 million in 2023 and is estimated to register a CAGR of over 5% between 2024 and 2032. The surge in the construction and agriculture industries is propelling the demand for utility vehicles. With expanding projects and agricultural operations, there is a pressing need for versatile vehicles capable of transporting heavy equipment, materials, and personnel efficiently. Utility vehicles offer robust capabilities, such as towing capacity, cargo space, and off-road performance, essential for navigating diverse terrains encountered in construction sites and farms.
 

U.S. Utility Vehicle Market

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As these industries expand, the demand for utility vehicles continues to grow, driven by their indispensable role in facilitating productivity and operational efficiency. These vehicles cater to families, shuttle services, and recreational users who require ample seating capacity without sacrificing comfort or cargo space. Their adaptable interiors and flexible seating configurations accommodate diverse passenger needs, making them ideal for various applications, from family outings to commercial transportation services.
 

For instance, in March 2024, Club Car, a leading electric vehicle (EV) producer, introduced the CRU, a new contender in the street-legal Neighborhood Electric Vehicle (NEV) sector, poised to transform the low-speed vehicle market. Designed with flair and functionality by BMW Designworks, the CRU accommodates six passengers and boasts a top speed of 25 miles per hour. Notable features include its stylish, ergonomic shape and exceptional maneuverability.
 

The U.S. utility vehicle market faces several restraints despite its growing demand. High manufacturing and material costs present a significant challenge for the utility vehicle sector. The complexity of utility vehicles, with their robust construction and advanced features, often leads to elevated production expenses. Additionally, fluctuations in the prices of raw materials, such as steel and aluminum, can further exacerbate manufacturing costs. These high costs may necessitate higher selling prices for utility vehicles, potentially limiting market penetration, particularly in price-sensitive segments.
 

U.S. Utility Vehicle Market Trends

Utility vehicles are becoming essential tools in agriculture and various industrial sectors for their efficiency in transporting goods, equipment, and personnel. Their adaptability to different terrains and tasks, combined with their durability and ease of maintenance, makes them invaluable for farming operations, construction sites, and other industrial applications.
 

Innovations in utility vehicle technology, such as electric powertrains, advanced safety features, and improved navigation and connectivity systems, are attracting consumers. These technological improvements enhance the performance, efficiency, and user experience of utility vehicles, making them more appealing for both recreational & commercial purposes, thereby driving market growth.
 

U.S. Utility Vehicle Market Analysis

U.S. Utility Vehicle Market Size, By Propulsion, 2022-2032, (USD Million)
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Based on propulsion, the market is divided into diesel, gasoline and electric. The electric segment accounted for a market share of around 60% in 2023. Electric-powered utility vehicles are witnessing a surge in popularity driven by advancements in battery technology and environmental consciousness. With zero emissions and low operating costs, electric utility vehicles are becoming the preferred choice for both commercial & recreational uses. This trend highlights the industry's shift toward sustainability and the increasing adoption of electric vehicles across various sectors.
 

For instance, in April 2024, Club Car debuted its latest electric utility vehicle, the Club Car Urban, tailored for construction sites and urban environments. The lineup includes the XR and LSV models, catering to diverse needs within these settings. With its robust design and versatility, Club Car Urban promises to streamline operations and enhance mobility in both construction and urban landscapes.
 

U.S. Utility Vehicle Revenue Market Share, By Application, 2023
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Based on application, the U.S. utility vehicle market is categorized construction, universities government/municipalities, entertainment, and hospitality. The hospitality segment accounted for a market share of around 30% in 2023. Hotels and resorts are turning to utility vehicles with cargo beds for transporting luggage, linens, and supplies across expansive properties. The ample storage space and versatility of bed-equipped utility vehicles make them an indispensable tool for housekeeping, maintenance, and groundskeeping departments in the hospitality industry.
 

Hotels & resorts are increasingly adopting street-legal utility vehicles to enhance their operational flexibility. These vehicles can seamlessly transition between on- and off-property errands, allowing staff to easily navigate between the resort and nearby attractions or suppliers. The ability to legally operate on the streets makes these utility vehicles a practical & efficient choice for the hospitality industry.
 

Texas Utility Vehicle Market Size, 2022-2032 ( USD Million)
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Texas dominated the U.S. utility vehicle market with a major share of over 10% in 2023. Universities are increasingly opting for street-legal utility vehicles that can seamlessly transition between on-campus use and public roads. These vehicles offer greater flexibility and convenience, allowing staff to easily travel between multiple campus locations or run errands in the surrounding community without the need for additional transportation.
 

Hotels & resorts are increasingly adopting street-legal utility vehicles to enhance their operational flexibility. These vehicles can seamlessly transition between on- and off-property errands, allowing staff to easily navigate between the resort and nearby attractions or suppliers. The ability to legally operate on the streets makes these utility vehicles a practical & efficient choice for the hospitality industry.
 

U.S. Utility Vehicle Market Share

John Deere and Club Car held significant market share of over 50% in 2023. John Deere is known for its robust portfolio of agricultural and industrial equipment. The company offers a range of utility vehicles designed for farming, construction, and landscaping applications. John Deere leverages its extensive dealer network and strong brand reputation to deliver reliable and durable vehicles. The company emphasizes advanced features like high-performance engines, superior cargo capacity, and versatile attachments to meet diverse customer needs. Additionally, John Deere focuses on integrating smart technologies and telematics to enhance vehicle efficiency and user experience.
 

Club Car specializes in providing high-quality utility vehicles for a variety of applications, including resorts, golf courses, and industrial sites. The company offers a comprehensive lineup of 2-seater, 4-seater, 6-seater, and 8-seater vehicles with cargo beds for efficient transportation of goods and personnel. Club Car leverages its global distribution network and commitment to innovation to deliver reliable and customizable solutions. The company focuses on sustainability by offering electric and low-emission vehicle options, and it continually enhances its products with advanced features like improved battery life, ergonomic design, and connectivity options to provide superior performance and customer satisfaction.
 

U.S. Utility Vehicle Market Companies

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

  • Club Car
  • Columbia Vehicle Group Inc.
  • Cushman
  • Garia
  • John Deere
  • Kubota
  • Star EV Corporation, USA
  • The Toro Company
  • Yamaha
     

U.S. Utility Vehicle Industry News

  • In April 2024, Club Car revealed its "Urban Utility Vehicle," tailored for construction sites. This vehicle comes in two options: the street-legal LSV and the non-street-legal XR. The LSV variant is furnished with mirrors, brake lights, turn signals, a horn, taillights, three-point seatbelts, and standard safety features. It also includes a backup camera system and an in-dash storage area.
     
  • Iin February 2024, Kubota unveiled its latest utility vehicle, the RTV-X1130. Designed to handle a variety of farm tasks, this UTV is part of a refresh to the RTV line. The RTV-X1130 is a robust workhorse capable of managing any job, making it an invaluable asset to any farm or agricultural operation.
     

The U.S. utility vehicle market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue ($Mn) and shipment (Units) from 2021 to 2032, for the following segments:

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Market, By Cargo configuration

  • With bed
    • 2-seater
    • Street legal 
  • Without bed
    • 4-seater
    • 6-seater
    • 8-seater
    • Street legal

Market, By Propulsion

  • Gasoline
  • Diesel
  • electric

Market, By Application

  • Construction
  • Universities
  • Government/Municipalities
  • Entertainment
  • Hospitality
  • Others

Market, By Drivetrain Configuration

  • 2WD
  • 4WD

The above information is provided for the following regions:

  • Alabama
  • Alaska
  • Arizona
  • Arkansas
  • California
  • Colorado
  • Florida
  • Georgia
  • Idaho
  • Illinois
  • Indiana
  • Iowa
  • Kansas
  • Kentucky
  • Louisiana
  • Maine
  • Michigan
  • Minnesota
  • Mississippi
  • Missouri
  • Montana
  • Nebraska
  • Nevada
  • New Mexico
  • North Carolina
  • North Dakota
  • Ohio
  • Oklahoma
  • Oregon
  • Pennsylvania
  • South Carolina
  • South Dakota
  • Tennessee
  • Texas
  • Utah
  • Virginia
  • Washington
  • West Virginia
  • Wisconsin
  • Wyoming
  • Rest of U.S.

 

Authors: Preeti Wadhwani

Frequently Asked Questions (FAQ) :

The market size for utility vehicle in U.S. reached USD 391.7 billion in 2023 and is set to witness 5% CAGR from 2024 to 2032, led by the growth in the construction and agriculture sector in the region.
The electric propulsion segment held 60% share in 2023, due to advancements in battery technology and environmental consciousness.
The hospitality application segment in the U.S. utility vehicle industry recorded 30% share in 2023, as they are extensively used to transport luggage, linens, and supplies across expansive properties.
Texas market accounted for over 10% share in 2023, as universities are increasingly opting for street-legal utility vehicles that can seamlessly transition between on-campus use and public roads.

U.S. Utility Vehicle Market Scope

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Premium Report Details

  • Base Year: 2023
  • Companies covered: 9
  • Tables & Figures: 250
  • Countries covered: 1
  • Pages: 200
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