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Utility Terrain Vehicle (UTV) Market Share

Report ID: GMI3142
Published Date: Feb 2024
Report Format: PDF

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Utility Terrain Vehicle Market Share

Polaris holds a significant market share of over 30% in the utility terrain vehicle (UTV) industry. In the UTV industry competitive landscape, dominant players such as Polaris Industries, Can-Am, and Yamaha Motor offer a diverse range of products to meet various consumer needs and preferences.

These companies leverage their extensive experience, brand reputation, and technological expertise to maintain market leadership. Furthermore, emerging players are intensifying competition by introducing innovative UTV models equipped with advanced features, targeting specific market segments.

Utility Terrain Vehicle Market Companies

Major companies operating in the utility terrain vehicle (UTV) industry are:

Arctic Cat Inc.
BMS Motorsports, Inc.
BRP
CFMOTO USA
DRR USA
HISUN
Honda Motor Co., Ltd.
Kawasaki Motors Corp., U.S.A.
Polaris Inc.
Yamaha Motor Co., Ltd.

Authors: Preeti Wadhwani

Frequently Asked Questions (FAQ) :

The market size of utility terrain vehicle (UTV) reached USD 7.3 billion in 2023 and is set to witness 5.5% CAGR from 2024 to 2032, propelled by the burgeoning travel & tourism sector.

The gasoline propulsion UTV segment accounted for 65% of the market share in 2023, owing to the superior horsepower and torque offered by gasoline based engine.

North America is the fastest-growing region in the market with a major share of over 85 % in 2023, favored by the increasing demand for performance, safety, comfort, and technology features in powersports.

Arctic Cat Inc., BMS Motorsports, Inc., BRP, CFMOTO USA, DRR USA, HISUN, Honda Motor Co., Ltd., Kawasaki Motors Corp., U.S.A., Polaris Inc., and Yamaha Motor Co., Ltd.