The global utility vehicle market is anticipated to grow at a significant CAGR of 10.3% during the forecast period. Utility Vehicle Market research report refers to gathering and analyzing significant market data serve as best medium for various industry players to launch novel product or service. It is vital for key firms to have constant observation of latest market trends which keep on changing. Constants shifts in the trends and key advancements are observed in the market through this Utility Vehicle Market report and inform key firms about them. By knowing this, business owners can take effective actions before actually developing any product or service. It also aims at offering thorough knowledge regarding competitors to assist them in taking strategic decision making.
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Based on propulsion, the electric segment is estimated to grow at a considerable CAGR during the forecast period. One of the core factors backing the projection is the growing electrification of vehicles across the globe. Scarcity of fuel, increasing pollution, and subsidies from the government are boosting the electrification of vehicles. As per the data of the International Energy Agency (IEA) 2020, electric car sales reached 2,986,659 which is more than 40% of the electric car sales in 2019. While, as per the 2020 data of Organisation Internationale des Constructeurs d’Automobiles (OICA), the global sales of vehicles declined by more than 13% as compared to the sales in 2019.
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- Market Coverage
- Market number available for – 2024-2031
- Base year- 2024
- Forecast period- 2024-2031
- Segment Covered- By Source, By Product Type, By Applications
- Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill
- , and others
Global Utility Vehicle Market Report Segment
By Vehicle Type
- Sport Utility Vehicle (SUV)
- Multi Utility Vehicle (MUV)
- Utility Terrain Vehicle (UTV)
By Propulsion Type
- Internal Combustion Engine (ICE)
- Electric
- Others (Hydrogen)
By Application
- Passenger Commute
- Industrial
- Agricultural
- Sports
Global Utility Vehicle Market Report Segment by Region
North America
- US
- Canada
Europe
- UK
- Germany
- Italy
- Spain
- France
- Rest of Europe
Asia-Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia-Pacific
Rest of the World
- Latin America
- Middle East & Africa
The Report Covers
- Annualized market revenues ($ million) for each market segment.
- Country-wise analysis of major geographical regions.
- Key companies operating in the global utility vehicle market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
- Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
- Analysis of market-entry and market expansion strategies.
- Competitive strategies by identifying ‘who-stands-where’ in the market.
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