The Latin America, Middle East and Africa Utility Vehicle Market would witness market growth of 10.9% CAGR during the forecast period (2022-2028).
The agricultural sector has seen an increase in the demand for utility vehicles for different farm-related activities such as weed management, fence repair, field ploughing, general transportation, & animal handling. Construction, manufacturing, utilities, mining, and search & rescue are just a few of the industries that use them. Several major corporations are hosting adventure sports & off-road racing events, as well as offering sponsorships, to attract new customers & raise product awareness.
Because of its widespread use in sports & military applications, the demand for gasoline utility vehicles have bolstered. For cargo handling and difficult hauling, heavy-duty utility vehicles are typically equipped with diesel engines. Electric utility vehicles are becoming more popular in several countries as a viable substitute for diesel and gasoline-powered utility vehicles. Fluctuating gasoline & diesel prices, as well as environmental problems, are expected to fuel demand for electric vehicles around the world. Electric utility vehicles now have a performance edge over diesel & gasoline equivalents because of the development of powerful electric motors.
The utility vehicle market in this region is majorly being driven by rising adventure activities, enhanced vehicle modification, & new product development. In the future years, the utility vehicle market is expected to grow strongly in the Middle East & Africa, as well as Latin America. Demand for forestry & mining operations is expected to expand in these regions. Moreover, there is a rapid surge in the demand for electric utility task vehicles in Latin America due to the increasing adoption of these vehicles in the defense sector. Major market players are increasing their efforts on developing strategies for broadening their presence in emerging economies like Brazil & Argentina.
Because of their expanded features including zero-emission technology, convenience, and ease of use, this electric vehicle is becoming increasingly popular in a variety of applications like street sweeping, power line inspection, and arable land farming, among others.
The Brazil market dominated the LAMEA Utility Vehicle Market by Country 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $1,034.9 million by 2028. The Argentina market is estimated to grow at a CAGR of 11.4% during (2022 - 2028). Additionally, The UAE market would witness a CAGR of 10.6% during (2022 - 2028).
Based on Propulsion, the market is segmented into IC Engine Powered, Electric Powered, and Others. Based on Vehicle Type, the market is segmented into Sport Utility Vehicle (SUV), Multi Utility Vehicle (MUV), Utility Terrain Vehicle Type (UTV), and Others. Based on Application, the market is segmented into Passenger Commute, Industrial, Agricultural, Sports, and Others. Based on countries, the market is segmented into Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
Free Valuable Insights: The Global Utility Vehicle Market is Predict to reach $46.1 Billion by 2028, at a CAGR of 9%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Textron, Inc., Polaris, Inc., Deere & Company, Honda Motor Co. Ltd., Yamaha Motor Co., Ltd., Kawasaki Heavy Industries, Ltd., KUBOTA Corporation, Mahindra & Mahindra Limited, Zhejiang CFMoto Power Co., Ltd., and Bombardier Recreational Products, Inc.
Scope of the Study
Market Segments Covered in the Report:
By Propulsion
- IC Engine Powered
- Electric Powered
- Others
By Vehicle Type
- Sport Utility Vehicle (SUV)
- Multi Utility Vehicle (MUV)
- Utility Terrain Vehicle Type (UTV)
- Others
By Application
- Passenger Commute
- Industrial
- Agricultural
- Sports
- Others
By Country
- Brazil
- Argentina
- UAE
- Saudi Arabia
- South Africa
- Nigeria
- Rest of LAMEA
Key Market Players
List of Companies Profiled in the Report:
- Textron, Inc.
- Polaris, Inc.
- Deere & Company
- Honda Motor Co. Ltd.
- Yamaha Motor Co., Ltd.
- Kawasaki Heavy Industries, Ltd.
- KUBOTA Corporation
- Mahindra & Mahindra Limited
- Zhejiang CFMoto Power Co., Ltd.
- Bombardier Recreational Products, Inc.
Related Reports:
Global Utility Vehicle Market Report 2022-2028
North America Utility Vehicle Market Report 2022-2028
Asia Pacific Utility Vehicle Market Report 2022-2028
LAMEA Utility Vehicle Market Report 2022-2028
Chapter 1. Market Scope & Methodology
1.1 Market Definition
1.2 Objectives
1.3 Market Scope
1.4 Segmentation
1.4.1 LAMEA Utility Vehicle Market, by Propulsion
1.4.2 LAMEA Utility Vehicle Market, by Vehicle Type
1.4.3 LAMEA Utility Vehicle Market, by Application
1.4.4 LAMEA Utility Vehicle Market, by Country
1.5 Methodology for the research
Chapter 2. Market Overview
2.1 Introduction
2.1.1 Overview
2.1.1.1 Market Composition and Scenario
2.2 Key Factors Impacting the Market
2.2.1 Market Drivers
2.2.2 Market Restraints
Chapter 3. Competition Analysis - Global
3.1 KBV Cardinal Matrix
3.2 Recent Industry Wide Strategic Developments
3.2.1 Partnerships, Collaborations and Agreements
3.2.2 Product Launches and Product Expansions
3.2.3 Acquisition and Mergers
3.2.4 Geographical Expansions
3.3 Top Winning Strategies
3.3.1 Key Leading Strategies: Percentage Distribution (2018-2022)
3.3.2 Key Strategic Move: (Partnerships, Collaborations and Agreements: 2018, Jan – 2022, Apr) Leading Players
Chapter 4. LAMEA Utility Vehicle Market by Propulsion
4.1 LAMEA IC Engine Powered Market by Country
4.2 LAMEA Electric Powered Market by Country
4.3 LAMEA Others Market by Country
Chapter 5. LAMEA Utility Vehicle Market by Vehicle Type
5.1 LAMEA Sport Utility Vehicle (SUV) Market by Country
5.2 LAMEA Multi Utility Vehicle (MUV) Market by Country
5.3 LAMEA Utility Terrain Vehicle Type (UTV) Market by Country
5.4 LAMEA Others Market by Country
Chapter 6. LAMEA Utility Vehicle Market by Application
6.1 LAMEA Passenger Commute Market by Country
6.2 LAMEA Industrial Market by Country
6.3 LAMEA Agricultural MARKET by Country
6.4 LAMEA Sports MARKET by Country
6.5 LAMEA Others Market by Country
Chapter 7. LAMEA Utility Vehicle Market by Country
7.1 Brazil Utility Vehicle Market
7.1.1 Brazil Utility Vehicle Market by Propulsion
7.1.2 Brazil Utility Vehicle Market by Vehicle Type
7.1.3 Brazil Utility Vehicle Market by Application
7.2 Argentina Utility Vehicle Market
7.2.1 Argentina Utility Vehicle Market by Propulsion
7.2.2 Argentina Utility Vehicle Market by Vehicle Type
7.2.3 Argentina Utility Vehicle Market by Application
7.3 UAE Utility Vehicle Market
7.3.1 UAE Utility Vehicle Market by Propulsion
7.3.2 UAE Utility Vehicle Market by Vehicle Type
7.3.3 UAE Utility Vehicle Market by Application
7.4 Saudi Arabia Utility Vehicle Market
7.4.1 Saudi Arabia Utility Vehicle Market by Propulsion
7.4.2 Saudi Arabia Utility Vehicle Market by Vehicle Type
7.4.3 Saudi Arabia Utility Vehicle Market by Application
7.5 South Africa Utility Vehicle Market
7.5.1 South Africa Utility Vehicle Market by Propulsion
7.5.2 South Africa Utility Vehicle Market by Vehicle Type
7.5.3 South Africa Utility Vehicle Market by Application
7.6 Nigeria Utility Vehicle Market
7.6.1 Nigeria Utility Vehicle Market by Propulsion
7.6.2 Nigeria Utility Vehicle Market by Vehicle Type
7.6.3 Nigeria Utility Vehicle Market by Application
7.7 Rest of LAMEA Utility Vehicle Market
7.7.1 Rest of LAMEA Utility Vehicle Market by Propulsion
7.7.2 Rest of LAMEA Utility Vehicle Market by Vehicle Type
7.7.3 Rest of LAMEA Utility Vehicle Market by Application
Chapter 8. Company Profiles
8.1 Textron, Inc.
8.1.1 Company Overview
8.1.2 Financial Analysis
8.1.3 Regional & Segmental Analysis
8.1.4 Research & Development Expenses
8.1.5 Recent strategies and developments:
8.1.5.1 Partnerships, Collaborations, and Agreements:
8.1.5.2 Product Launches and Product Expansions:
8.2 Polaris, Inc.
8.2.1 Company Overview
8.2.2 Financial Analysis
8.2.3 Regional & Segmental Analysis
8.2.4 Research & Development Expenses
8.2.5 Recent strategies and developments:
8.2.5.1 Partnerships, Collaborations, and Agreements:
8.2.5.2 Product Launches and Product Expansions:
8.2.5.3 Geographical Expansions:
8.3 Deere & Company
8.3.1 Company Overview
8.3.2 Financial Analysis
8.3.3 Regional & Segmental Analysis
8.3.4 Research & Development Expenses
8.3.5 Recent strategies and developments:
8.3.5.1 Partnerships, Collaborations, and Agreements:
8.3.5.2 Product Launches and Product Expansions:
8.3.5.3 Acquisition and Mergers:
8.4 Honda Motor Co. Ltd.
8.4.1 Company Overview
8.4.2 Financial Analysis
8.4.3 Segmental and Regional Analysis
8.4.4 Research & Development Expense
8.4.5 Recent strategies and developments:
8.4.5.1 Partnerships, Collaborations, and Agreements:
8.4.6 SWOT Analysis
8.5 Yamaha Motor Co., Ltd.
8.5.1 Company Overview
8.5.2 Financial Analysis
8.5.3 Segmental and Regional Analysis
8.5.4 Research & Development Expense
8.5.5 Recent strategies and developments:
8.5.5.1 Product Launches and Product Expansions:
8.6 Kawasaki Heavy Industries, Ltd.
8.6.1 Company Overview
8.6.2 Financial Analysis
8.6.3 Segmental and Regional Analysis
8.6.4 Research & Development Expense
8.6.5 Recent strategies and developments:
8.6.5.1 Product Launches and Product Expansions:
8.6.5.2 Geographical Expansions:
8.7 KUBOTA Corporation
8.7.1 Company Overview
8.7.2 Financial Analysis
8.7.3 Segmental and Regional Analysis
8.7.4 Research & Development Expenses
8.7.5 Recent strategies and developments:
8.7.5.1 Partnerships, Collaborations, and Agreements:
8.7.5.2 Product Launches and Product Expansions:
8.8 Mahindra & Mahindra Limited (Mahindra Group)
8.8.1 Company Overview
8.8.2 Financial Analysis
8.8.3 Segmental and Regional Analysis
8.8.4 Research & Development Expense
8.8.5 Recent strategies and developments:
8.8.5.1 Collaborations, Partnerships and Agreements:
8.9 Zhejiang CFMoto Power Co., Ltd.
8.9.1 Company Overview
8.9.2 Recent strategies and developments:
8.9.2.1 Partnerships, Collaborations, and Agreements:
8.9.2.2 Acquisition and Mergers:
8.9.2.3 Geographical Expansions:
8.10. Bombardier Recreational Products, Inc.
8.10.1 Company Overview
8.10.2 Recent strategies and developments:
8.10.2.1 Geographical Expansions:
TABLE 1 LAMEA Utility Vehicle Market, 2018 - 2021, USD Million
TABLE 2 LAMEA Utility Vehicle Market, 2022 - 2028, USD Million
TABLE 3 Partnerships, Collaborations and Agreements – Utility Vehicle Market
TABLE 4 Product Launches And Product Expansions – Utility Vehicle Market
TABLE 5 Acquisition and Mergers – Utility Vehicle Market
TABLE 6 Geographcial Expansions – Utility Vehicle Market
TABLE 7 LAMEA Utility Vehicle Market by Propulsion, 2018 - 2021, USD Million
TABLE 8 LAMEA Utility Vehicle Market by Propulsion, 2022 - 2028, USD Million
TABLE 9 LAMEA IC Engine Powered Market by Country, 2018 - 2021, USD Million
TABLE 10 LAMEA IC Engine Powered Market by Country, 2022 - 2028, USD Million
TABLE 11 LAMEA Electric Powered Market by Country, 2018 - 2021, USD Million
TABLE 12 LAMEA Electric Powered Market by Country, 2022 - 2028, USD Million
TABLE 13 LAMEA Others Market by Country, 2018 - 2021, USD Million
TABLE 14 LAMEA Others Market by Country, 2022 - 2028, USD Million
TABLE 15 LAMEA Utility Vehicle Market by Vehicle Type, 2018 - 2021, USD Million
TABLE 16 LAMEA Utility Vehicle Market by Vehicle Type, 2022 - 2028, USD Million
TABLE 17 LAMEA Sport Utility Vehicle (SUV) Market by Country, 2018 - 2021, USD Million
TABLE 18 LAMEA Sport Utility Vehicle (SUV) Market by Country, 2022 - 2028, USD Million
TABLE 19 LAMEA Multi Utility Vehicle (MUV) Market by Country, 2018 - 2021, USD Million
TABLE 20 LAMEA Multi Utility Vehicle (MUV) Market by Country, 2022 - 2028, USD Million
TABLE 21 LAMEA Utility Terrain Vehicle Type (UTV) Market by Country, 2018 - 2021, USD Million
TABLE 22 LAMEA Utility Terrain Vehicle Type (UTV) Market by Country, 2022 - 2028, USD Million
TABLE 23 LAMEA Others Market by Country, 2018 - 2021, USD Million
TABLE 24 LAMEA Others Market by Country, 2022 - 2028, USD Million
TABLE 25 LAMEA Utility Vehicle Market by Application, 2018 - 2021, USD Million
TABLE 26 LAMEA Utility Vehicle Market by Application, 2022 - 2028, USD Million
TABLE 27 LAMEA Passenger Commute MARKET by Country, 2018 - 2021, USD Million
TABLE 28 LAMEA Passenger Commute MARKET by Country, 2022 - 2028, USD Million
TABLE 29 LAMEA INDUSTRIAL MARKET by Country, 2018 - 2021, USD Million
TABLE 30 LAMEA Industrial MARKET by Country, 2022 - 2028, USD Million
TABLE 31 LAMEA Agricultural MARKET by Country, 2018 - 2021, USD Million
TABLE 32 LAMEA Agricultural MARKET by Country, 2022 - 2028, USD Million
TABLE 33 LAMEA Sports MARKET by Country, 2018 - 2021, USD Million
TABLE 34 LAMEA Sports MARKET by Country, 2022 - 2028, USD Million
TABLE 35 LAMEA Others Market by Country, 2018 - 2021, USD Million
TABLE 36 LAMEA Others Market by Country, 2022 - 2028, USD Million
TABLE 37 LAMEA Utility Vehicle Market by Country, 2018 - 2021, USD Million
TABLE 38 LAMEA Utility Vehicle Market by Country, 2022 - 2028, USD Million
TABLE 39 Brazil Utility Vehicle Market, 2018 - 2021, USD Million
TABLE 40 Brazil Utility Vehicle Market, 2022 - 2028, USD Million
TABLE 41 Brazil Utility Vehicle Market by Propulsion, 2018 - 2021, USD Million
TABLE 42 Brazil Utility Vehicle Market by Propulsion, 2022 - 2028, USD Million
TABLE 43 Brazil Utility Vehicle Market by Vehicle Type, 2018 - 2021, USD Million
TABLE 44 Brazil Utility Vehicle Market by Vehicle Type, 2022 - 2028, USD Million
TABLE 45 Brazil Utility Vehicle Market by Application, 2018 - 2021, USD Million
TABLE 46 Brazil Utility Vehicle Market by Application, 2022 - 2028, USD Million
TABLE 47 Argentina Utility Vehicle Market, 2018 - 2021, USD Million
TABLE 48 Argentina Utility Vehicle Market, 2022 - 2028, USD Million
TABLE 49 Argentina Utility Vehicle Market by Propulsion, 2018 - 2021, USD Million
TABLE 50 Argentina Utility Vehicle Market by Propulsion, 2022 - 2028, USD Million
TABLE 51 Argentina Utility Vehicle Market by Vehicle Type, 2018 - 2021, USD Million
TABLE 52 Argentina Utility Vehicle Market by Vehicle Type, 2022 - 2028, USD Million
TABLE 53 Argentina Utility Vehicle Market by Application, 2018 - 2021, USD Million
TABLE 54 Argentina Utility Vehicle Market by Application, 2022 - 2028, USD Million
TABLE 55 UAE Utility Vehicle Market, 2018 - 2021, USD Million
TABLE 56 UAE Utility Vehicle Market, 2022 - 2028, USD Million
TABLE 57 UAE Utility Vehicle Market by Propulsion, 2018 - 2021, USD Million
TABLE 58 UAE Utility Vehicle Market by Propulsion, 2022 - 2028, USD Million
TABLE 59 UAE Utility Vehicle Market by Vehicle Type, 2018 - 2021, USD Million
TABLE 60 UAE Utility Vehicle Market by Vehicle Type, 2022 - 2028, USD Million
TABLE 61 UAE Utility Vehicle Market by Application, 2018 - 2021, USD Million
TABLE 62 UAE Utility Vehicle Market by Application, 2022 - 2028, USD Million
TABLE 63 Saudi Arabia Utility Vehicle Market, 2018 - 2021, USD Million
TABLE 64 Saudi Arabia Utility Vehicle Market, 2022 - 2028, USD Million
TABLE 65 Saudi Arabia Utility Vehicle Market by Propulsion, 2018 - 2021, USD Million
TABLE 66 Saudi Arabia Utility Vehicle Market by Propulsion, 2022 - 2028, USD Million
TABLE 67 Saudi Arabia Utility Vehicle Market by Vehicle Type, 2018 - 2021, USD Million
TABLE 68 Saudi Arabia Utility Vehicle Market by Vehicle Type, 2022 - 2028, USD Million
TABLE 69 Saudi Arabia Utility Vehicle Market by Application, 2018 - 2021, USD Million
TABLE 70 Saudi Arabia Utility Vehicle Market by Application, 2022 - 2028, USD Million
TABLE 71 South Africa Utility Vehicle Market, 2018 - 2021, USD Million
TABLE 72 South Africa Utility Vehicle Market, 2022 - 2028, USD Million
TABLE 73 South Africa Utility Vehicle Market by Propulsion, 2018 - 2021, USD Million
TABLE 74 South Africa Utility Vehicle Market by Propulsion, 2022 - 2028, USD Million
TABLE 75 South Africa Utility Vehicle Market by Vehicle Type, 2018 - 2021, USD Million
TABLE 76 South Africa Utility Vehicle Market by Vehicle Type, 2022 - 2028, USD Million
TABLE 77 South Africa Utility Vehicle Market by Application, 2018 - 2021, USD Million
TABLE 78 South Africa Utility Vehicle Market by Application, 2022 - 2028, USD Million
TABLE 79 Nigeria Utility Vehicle Market, 2018 - 2021, USD Million
TABLE 80 Nigeria Utility Vehicle Market, 2022 - 2028, USD Million
TABLE 81 Nigeria Utility Vehicle Market by Propulsion, 2018 - 2021, USD Million
TABLE 82 Nigeria Utility Vehicle Market by Propulsion, 2022 - 2028, USD Million
TABLE 83 Nigeria Utility Vehicle Market by Vehicle Type, 2018 - 2021, USD Million
TABLE 84 Nigeria Utility Vehicle Market by Vehicle Type, 2022 - 2028, USD Million
TABLE 85 Nigeria Utility Vehicle Market by Application, 2018 - 2021, USD Million
TABLE 86 Nigeria Utility Vehicle Market by Application, 2022 - 2028, USD Million
TABLE 87 Rest of LAMEA Utility Vehicle Market, 2018 - 2021, USD Million
TABLE 88 Rest of LAMEA Utility Vehicle Market, 2022 - 2028, USD Million
TABLE 89 Rest of LAMEA Utility Vehicle Market by Propulsion, 2018 - 2021, USD Million
TABLE 90 Rest of LAMEA Utility Vehicle Market by Propulsion, 2022 - 2028, USD Million
TABLE 91 Rest of LAMEA Utility Vehicle Market by Vehicle Type, 2018 - 2021, USD Million
TABLE 92 Rest of LAMEA Utility Vehicle Market by Vehicle Type, 2022 - 2028, USD Million
TABLE 93 Rest of LAMEA Utility Vehicle Market by Application, 2018 - 2021, USD Million
TABLE 94 Rest of LAMEA Utility Vehicle Market by Application, 2022 - 2028, USD Million
TABLE 95 Key information – Textron, Inc.
TABLE 96 Key information – Polaris, Inc.
TABLE 97 Key information – Deere & Company
TABLE 98 key Information – Honda Motor Co. Ltd.
TABLE 99 Key Information – Yamaha Motor Co., Ltd.
TABLE 100 Key Information – Kawasaki Heavy Industries, Ltd.
TABLE 101 Key Information – KUBOTA Corporation
TABLE 102 key Information – Mahindra & Mahindra Limited
TABLE 103 Key information – Zhejiang CFMoto Power Co., Ltd.
TABLE 104 Key information – Bombardier Recreational Products, Inc.
List of Figures
FIG 1 Methodology for the research
FIG 2 KBV Cardinal Matrix
FIG 3 Key Leading Strategies: Percentage Distribution (2018-2022)
FIG 4 Key Strategic Move: (Partnerships, Collaborations and Agreements: 2018, Jan – 2022, Apr) Leading Players
FIG 5 Recent strategies and developments: Polaris, Inc.
FIG 6 Recent strategies and developments: Deere & Company
FIG 7 SWOT ANALYSIS: HONDA MOTORS CO. LTD.
FIG 8 Recent strategies and developments: KUBOTA Corporation
FIG 9 Recent strategies and developments: Zhejiang CFMoto Power Co., Ltd.