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Utility Task Vehicles (UTV) Market is in 2018 and expected to reach USD 6.47 Billion by 2025 | CAGR OF 6.99%



Utility Task Vehicles (UTV) Market is valued at USD 4.03 Billion in 2018 and expected to reach USD 6.47 Billion by 2025 with the CAGR of 6.99%Increasing popularity in various end-user applications such as mining, farming, luggage transportation, search and rescue operations is the key driving factor for Global ­­Utility Task Vehicles (UTV) Market.

Utility task vehicle (UTV) is a motorized vehicle aimed to carry out a specific function with more efficiency than a general-purpose vehicle. UTV vehicles are largely used in many industrial and commercial sectors such as luggage transportation, tourism and sports. These are perfectly implemented in tourism sectors in which electric UTV car plays an important role to reduce the zero air pollution especially noise along with real working capacity. The electric vehicles have AC motors with high torque capacity and plane distribution which prevents skidding or loss of grip in snow or mountain areas. Government administration buy number of UTV’s for waste management, park maintenance and street cleaning.

Utility task vehicles (UTV) market is segmented on the basis of by vehicle, fuel and by region. Based on vehicle type, the utility task vehicles market is segmented into sports UTVs, load carrier UTVs and multipurpose UTVs. Based on fuel type, the market is divided into conventional fuel UTVs and electric UTVs.

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