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Utility Vehicle Market Share

Report ID: GMI9835
Published Date: Jun 2024
Report Format: PDF

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Utility Vehicle Market Share

John Deere and Club Car held significant market share of over 50% in 2023. John Deere and Club Car held significant market share of over 50% in 2023. John Deere maintains its competitive edge in the utility vehicle industry by offering high-performance engines and versatile attachments tailored for diverse applications in agriculture and construction. The company leverages its extensive dealer network and strong brand reputation, integrates advanced telematics for enhanced efficiency, and focuses on innovation to meet evolving customer needs, ensuring durability and reliability in their vehicles.

Club Car stays competitive in the utility vehicle market by offering a diverse lineup of customizable vehicles for resorts, golf courses, and industrial sites. The company emphasizes sustainability with electric and low-emission options, leverages a global distribution network, and continually enhances products with features like improved battery life, ergonomic design, and advanced connectivity for superior performance and customer satisfaction.

Utility Vehicle Market Companies

Major companies operating in the utility vehicle industry are:

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

Authors: Preeti Wadhwani

Frequently Asked Questions (FAQ) :

The market size of utility vehicle reached USD 996.3 million in 2023 and is set to witness over 5.5% CAGR from 2024 to 2032, owing to the rising need for versatile and strong vehicles.

The electric propulsion segment in the utility vehicle industry held over 60% share in 2023, owing to its advantages over other vehicle types in terms of the environment, cheaper operating costs, and technological improvements.

The hospitality application segment recorded substantial share in 2023, as these vehicles are increasingly used to move people, goods, and luggage between large resorts, hotels, and event venues.

North America market accounted for more than 40% share in 2023, due to the presence of strong economic, technological, and regulatory foundations in the region.