Product Code: MRFR/AM/11061-CR
Summary
Market Overview
The Utility Terrain Vehicle Parts & Accessories Market is anticipated to register a healthy CAGR of 6.2% during the review period.
The rising UTV possession fundamentally fills the market for UTV parts and accessories. Various components that have supported UTV possession rates can be faulted for this pattern. The usefulness and flexibility of UTVs have added to their allure. They can go over different terrains, making many purposes conceivable. UTVs are habitually utilized for outside investigation, rough terrain driving, and relaxation exercises. They are additionally utilized in the forestry, development, and agribusiness areas to move colossal freight, arrange troublesome terrain, and travel significant distances. UTV proprietorship has extended because of the large number of purchasers drawn by their adaptability.
Electric vehicles have drawn a lot of interest as the globe underscores ecological supportability and bringing down fossil fuel byproducts, especially in the UTV market. A few makes are behind the change electric UTVs. In the first place, electric vehicles are viewed as more earth harmless than vehicles with gas powered motors. They have zero tailpipe outflows, bringing down air contamination and having an insignificant ecological effect. This fits with the worldwide pattern toward greener practices and cleaner versatility. The developing accessibility and improvement of electric vehicle innovation are further factors impacting the allure of electric UTVs. Electric UTVs presently have longer ranges and better execution because of advances in battery innovation. Moreover, the foundation for charging is developing, making it simpler for UTV proprietors to refuel their vehicles. Buyer certainty and acknowledgment of electric UTVs as reasonable options in contrast to ordinary fuel-controlled models have expanded because of the better abilities of these vehicles. The utility and delight enterprises are two regions where electric UTVs are turning out to be increasingly well known.
Market Segmentation
The Utility Terrain Vehicle Parts & Accessories Market segmentation, based on process type, includes Pre-cure and Mold-cure.
According to sales channel, the segment is divided into OEM, and aftermarket.
The Utility Terrain Vehicle Parts & Accessories Market research segmentation, by application, the market is segmented into sports, entertainment, agriculture, military, hunting, others.
Regional Insights
North America represented the biggest portion of revenue in 2022. Utility Terrain Vehicle (UTV) parts and accessories are utilized in different businesses and sporting diversions all through North America because of its versatility and capacities. UTVs are essential in agrarian tasks since they transport products, pull them, and go rough terrain on ranches and farms.
Asia Pacific is supposed to rule the market with regards to CAGR in forthcoming period. In Asia Pacific, UTVs are much of the time utilized in agrarian activities. UTVs are utilized by ranchers to convey crops, water fields, and apply pesticides in troublesome terrain. UTV accessories increment efficiency, including sprayers, seeders, and gathering connections.
Major Players
Key Companies in the Utility Terrain Vehicle Parts & Accessories Market include Polaris Inc., Can-Am, Yamaha Motor Pvt. Ltd, Honda Motor Company, Kawasaki Motors Pvt. Ltd, Hisun, Bennche LLC, BMS Motorsports, Inc, CFMOTO, and Arctic Cat Inc.
TABLE OF CONTENTS
TABLE OF CONTENTS
1 EXECUTIVE SUMMARY 13
- 1.1 MARKET ATTRACTIVENESS ANALYSIS 14
- 1.1.1 GLOBAL UTILITY TERRAIN VEHICLE PARTS & ACCESSORIES MARKET, BY PRODUCT 14
- 1.1.2 GLOBAL UTILITY TERRAIN VEHICLE PARTS & ACCESSORIES MARKET, BY APPLICATION 15
- 1.1.3 GLOBAL UTILITY TERRAIN VEHICLE PARTS & ACCESSORIES MARKET, BY SALES CHANNEL 16
- 1.1.4 GLOBAL UTILITY TERRAIN VEHICLE PARTS & ACCESSORIES MARKET, BY REGION 17
2 MARKET INTRODUCTION 18
- 2.1 DEFINITION 18
- 2.2 SCOPE OF THE STUDY 18
- 2.3 RESEARCH OBJECTIVE 18
- 2.4 MARKET STRUCTURE 19
3 RESEARCH METHODOLOGY 20
- 3.1 DATA MINING 20
- 3.2 SECONDARY RESEARCH 21
- 3.3 PRIMARY RESEARCH 21
- 3.3.1 PRIMARY INTERVIEWS AND INFORMATION GATHERING PROCESS 22
- 3.4 RESEARCH METHODOLOGY FOR MARKET SIZE ESTIMATION 24
- 3.4.1 BOTTOM-UP APPROACH 25
- 3.4.2 TOP-DOWN APPROACH 25
- 3.5 DATA VALIDATION 26
- 3.6 ASSUMPTIONS & LIMITATIONS 26
4 MARKET DYNAMICS 27
- 4.1 INTRODUCTION 27
- 4.2 DRIVERS 28
- 4.2.1 INCREASING UTV OWNERSHIP 28
- 4.2.2 GROWING OFF-ROAD RECREATION 28
- 4.3 RESTRAINT 29
- 4.3.1 POTENTIAL IMPACT OF REGULATORY MEASURES AND ENVIRONMENTAL CONCERNS 29
- 4.4 OPPORTUNITIES 30
- 4.4.1 RISING POPULARITY OF ELECTRIC UTVS AND RELATED ACCESSORIES 30
- 4.4.2 INCREASING ADOPTION OF UTVS IN ADVENTURE TOURISM AND RENTAL SERVICES 31
- 4.5 IMPACT OF CORONAVIRUS OUTBREAK ON GLOBAL MARKET 31
- 4.5.1 OVERVIEW 31
- 4.5.1.1 ECONOMIC IMPACT 32
- 4.5.2 IMPACT ON THE GLOBAL UTILITY TERRAIN VEHICLE PARTS & ACCESSORIES MARKET 32
- 4.5.3 IMPACT ON SUPPLY CHAIN OF UTILITY TERRAIN VEHICLE PARTS & ACCESSORIES MARKET 33
- 4.5.3.1 PRICE VARIATION OF KEY RAW MATERIALS 33
- 4.5.3.2 PRODUCTION SHUTDOWN 33
- 4.5.3.3 CASH FLOW CONSTRAINTS 33
- 4.5.3.4 IMPACT ON IMPORT/EXPORT 33
- 4.5.4 IMPACT OF MARKET DEMAND FOR UTILITY TERRAIN VEHICLE PARTS & ACCESSORIES 34
- 4.5.4.1 IMPACT DUE TO LOCKDOWN 34
- 4.5.4.2 CONSUMER SENTIMENTS 34
- 4.5.5 IMPACT ON PRICING UTILITY TERRAIN VEHICLE PARTS & ACCESSORIES MARKET 34
5 MARKET FACTOR ANALYSIS 35
- 5.1 VALUE CHAIN ANALYSIS/SUPPLY CHAIN ANALYSIS 35
- 5.1.1 UTILITY TERRAIN VEHICLE PARTS & ACCESSORIES MANUFACTURERS 35
- 5.1.2 DISTRIBUTION & SALES CHANNEL 36
- 5.1.3 END-USERS 36
- 5.2 PORTER'S FIVE FORCES MODEL 36
- 5.2.1 BARGAINING POWER OF SUPPLIERS 36
- 5.2.2 BARGAINING POWER OF BUYERS 37
- 5.2.3 THREAT OF NEW ENTRANTS 37
- 5.2.4 THREAT OF SUBSTITUTES 37
- 5.2.5 INTENSITY OF RIVALRY 37
6 GLOBAL UTILITY TERRAIN VEHICLE PARTS & ACCESSORIES MARKET, BY PRODUCT 38
- 6.1 INTRODUCTION 38
- 6.2 PARTS 39
- 6.3 ACCESSORIES 41
7 GLOBAL UTILITY TERRAIN VEHICLE PARTS & ACCESSORIES MARKET, BY APPLICATION 43
- 7.1 INTRODUCTION 43
- 7.2 SPORTS 44
- 7.3 ENTERTAINMENT 44
- 7.4 AGRICULTURE 44
- 7.5 MILITARY 44
- 7.6 HUNTING 45
- 7.7 OTHERS 45
8 GLOBAL UTILITY TERRAIN VEHICLE PARTS & ACCESSORIES MARKET, BY SALES CHANNEL 46
- 8.1 INTRODUCTION 46
- 8.2 OEMS 47
- 8.3 AFTERMARKET 47
9 GLOBAL UTILITY TERRAIN VEHICLE PARTS & ACCESSORIES MARKET, BY REGION 48
- 9.1 INTRODUCTION 48
- 9.2 NORTH AMERICA 49
- 9.2.1 US 53
- 9.2.2 CANADA 57
- 9.2.3 MEXICO 60
- 9.3 EUROPE 64
- 9.3.1 GERMANY 69
- 9.3.2 DENMARK 72
- 9.3.3 UK 75
- 9.3.4 ITALY 77
- 9.3.5 REST OF EUROPE 80
- 9.4 ASIA PACIFIC 84
- 9.4.1 CHINA 88
- 9.4.2 JAPAN 91
- 9.4.3 INDIA 93
- 9.4.4 AUSTRALIA 97
- 9.4.5 INDONESIA 100
- 9.4.6 VIETNAM 104
- 9.4.7 MYANMAR 107
- 9.4.8 REST OF ASIA PACIFIC 111
- 9.5 LATIN AMERICA 114
- 9.5.1 BRAZIL 117
- 9.5.2 ARGENTINA 120
- 9.5.3 REST OF LATIN AMERICA 124
- 9.6 MEA 127
- 9.6.1 SAUDI ARABIA 130
- 9.6.2 UAE 132
- 9.6.3 SOUTH AFRICA 135
- 9.6.4 REST OF MEA 137
10 COMPETITIVE LANDSCAPE 140
- 10.1 COMPETITIVE OVERVIEW 140
- 10.2 COMPETITOR DASHBOARD 141
- 10.3 MAJOR GROWTH STRATEGY IN THE GLOBAL UTILITY TERRAIN VEHICLE PARTS & ACCESSORIES MARKET 142
- 10.4 COMPETITIVE BENCHMARKING 143
- 10.5 MARKET SHARE ANALYSIS 144
- 10.6 THE LEADING PLAYER IN TERMS OF THE NUMBER OF DEVELOPMENTS IN THE GLOBAL UTILITY TERRAIN VEHICLE PARTS & ACCESSORIES MARKET 144
- 10.7 KEY DEVELOPMENTS & GROWTH STRATEGIES 145
- 10.7.1 MATERIAL DEVELOPMENT 145
11 COMPANY PROFILES 146
- 11.1 POLARIS INC. 146
- 11.1.1 COMPANY OVERVIEW 146
- 11.1.2 FINANCIAL OVERVIEW 147
- 11.1.3 PRODUCTS OFFERED 147
- 11.1.4 SWOT ANALYSIS 148
- 11.1.5 KEY STRATEGY 148
- 11.2 CAN-AM 149
- 11.2.1 COMPANY OVERVIEW 149
- 11.2.2 PRODUCTS OFFERED 149
- 11.2.3 SWOT ANALYSIS 150
- 11.2.4 KEY STRATEGY 150
- 11.3 YAMAHA MOTOR PVT. LTD 151
- 11.3.1 COMPANY OVERVIEW 151
- 11.3.2 FINANCIAL OVERVIEW 152
- 11.3.3 PRODUCTS OFFERED 152
- 11.3.4 KEY DEVELOPMENTS 153
- 11.3.5 SWOT ANALYSIS 153
- 11.3.6 KEY STRATEGY 153
- 11.4 HONDA MOTOR COMPANY 154
- 11.4.1 COMPANY OVERVIEW 154
- 11.4.2 FINANCIAL OVERVIEW 155
- 11.4.3 PRODUCTS OFFERED 155
- 11.4.4 SWOT ANALYSIS 156
- 11.4.5 KEY STRATEGY 156
- 11.5 KAWASAKI MOTORS PVT. LTD 157
- 11.5.1 COMPANY OVERVIEW 157
- 11.5.2 PRODUCTS OFFERED 157
- 11.5.3 SWOT ANALYSIS 158
- 11.5.4 KEY STRATEGY 158
- 11.6 HISUN 159
- 11.6.1 COMPANY OVERVIEW 159
- 11.6.2 SWOT ANALYSIS 160
- 11.6.3 KEY STRATEGY 160
- 11.7 BENNCHE LLC 161
- 11.7.1 COMPANY OVERVIEW 161
- 11.7.2 PRODUCTS OFFERED 161
- 11.7.3 SWOT ANALYSIS 162
- 11.7.4 KEY STRATEGY 162
- 11.8 BMS MOTORSPORTS, INC 163
- 11.8.1 COMPANY OVERVIEW 163
- 11.8.2 PRODUCTS OFFERED 163
- 11.8.3 SWOT ANALYSIS 164
- 11.8.4 KEY STRATEGY 164
- 11.9 CFMOTO 165
- 11.9.1 COMPANY OVERVIEW 165
- 11.9.2 PRODUCTS OFFERED 165
- 11.9.3 SWOT ANALYSIS 166
- 11.9.4 KEY STRATEGY 166
- 11.10 ARCTIC CAT INC. 167
- 11.10.1 COMPANY OVERVIEW 167
- 11.10.2 PRODUCTS OFFERED 167
- 11.10.3 SWOT ANALYSIS 168
- 11.10.4 KEY STRATEGY 168