Electric Utility Terrain Vehicle Market Growth Analysis & Forecast Report | 2023-2032

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Electric Utility Terrain Vehicle Market Growth
Analysis Forecast Report 2023-2032
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• Industry Insights

• Electric Utility Terrain Vehicle Market is
  projected to cross USD 190 Mn by 2032. The
  Minister of Economy, United Arab Emirates
  recently released the National Tourism Strategy
  that plans to invest USD 27.24 billion in the
  tourism sector to introduce 40 million hotel
  guests to the region. The expansion of the sector
  can be backed by the rising demand for off-road
  recreational activities, favorable government
  initiatives for sustainability, and promotion of
  eco-friendly transportation options.
• Pivotal factors such as growing awareness toward
  GHG emission reduction across the automotive
  industry would offer lucrative growth
  opportunities for electric UTV market players in
  the forthcoming years. For instance, Polaris
  Inc., in 2021, introduced the Polaris Ranger XP
  Kinetic, in partnership with Zero Motorcycles. As
  per reports, the new vehicle is equipped with a
  29.8 kWh battery and offers a range of 80 miles.

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• Considering the price, the USD 20,000 to USD
  30,000 segment is slated to draw significant
  gains through 2032, given the fact that UTVs in
  this price range offer more features including
  brilliant suspension, advanced safety features,
  and better horsepower engines. These attributes
  potentially make the automobiles more versatile
  and effective while boasting the ability to
  handle a wide range of terrains and tasks.
• Increased vehicle pricing comes from the
  producers' rising use of superior quality
  materials and construction methods to ensure
  improved reliability and durability. Usage of
  these materials could eventually lead to longer
  lifespan for the vehicle and lower maintenance
  costs over the ensuing years.
• Based on application, electric UTVs are largely
  used in sports activities. UTVs are being
  extensively adopted by sports enthusiasts to
  demonstrate skills and showcase vehicles in
  challenging environments in different sports
  championships.

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• Regional Analysis

• From the regional viewpoint, the Europe electric
  UTV market would accrue lucrative gains over the
  next ten years, with the United Kingdom, France,
  and Germany likely to emerge as the market
  hotspots. Expanding millennial population across
  these countries and mounting consumer spending on
  outdoor recreational activities in the region
  would stimulate the market dynamics by 2032 end.
• Furthermore, the development of charging
  infrastructure would as well contribute to the
  regional market outlook. As per the Transport and
  Environment report, Europe is predicted to invest
  approximately USD 1.9 billion by 2030 end to
  deploy another 2.7 million public charging points
  in the continent.

• Competitive Analysis

• John Deere,Polaris Inc., TUATARA VEHICLES,
  Volcon, Kaxa Motos, Milbay Australia, TRACKER OFF
  ROAD Vanderhall Motor Works Inc.

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