According to the research report titled ‘U.S. Utility Terrain Vehicle (UTV) Market Size By Displacement, By Application, Industry Analysis Report, Regional Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2020 - 2026‘, available with Market Study Report, the United States utility terrain vehicle (UTV) market is expected to accrue notable revenues by the year 2026.
 

Increasing penetration of UTVs in utility and military sectors is driving the market expansion. Growing popularity of off-road sport events, consumer inclination towards recreational activities and consequent spending, in consort with surging investment towards product innovation are also providing growth impetus to U.S. utility terrain vehicle market. 
 

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Notably, an UTV is mainly designed as per task, from carrying small loads to hauling equipment around. They are modular in nature and are widely deployed at U.S. military branched. On the downside, safety concerns as well as adverse environmental impact are restraining the growth of U.S. utility terrain vehicle industry.  
 

Based on displacement model, U.S. utility terrain vehicle (UTV) market is divided into above 800cc, 400 - 800cc and below 400cc. The 400 - 800cc UTV segment is projected to grow with a CAGR of 6.5% during 2020-2026, owing to growing adoption of UTVs in utility applications. These vehicles have enough storage space to carry camping supplies, packing tools, hunting gear, and coolers.
 

Moreover, UTVs are very useful around farms mainly due to their versatility and power. They are used for hauling cargo, carrying heavy loads & multiple passengers, catching calves, carrying firewood, building fences, spreading seeds, harrowing fields, mowing grass, plowing snow, raking, and ploughing fields among others in agriculture sector.  
 

With regards to the application spectrum, U.S. utility terrain vehicle (UTV) industry is segmented into sports, utility, military, and recreation. As per the report, market share from recreation segment is projected to experience a CAGR of 5% during forecast timeframe, owing to increasing consumer expenditure on adventure and leisure activities.
 

As per the regional overview, Texas UTV market is anticipated to record a y-o-y growth rate of 8.5% during the analysis timeframe, mainly due to improving disposable income and increasing recreational spending in the region.
 

Key players in U.S. utility terrain vehicle (UTV) market include Yamaha Motor Co. Ltd., Polaris Inc., Massimo Motor Sports LLC, KYMCO, Kawasaki Motors Corp., Honda Motor Co. Ltd., Hisun Motors Corp., Deere & Company, Zhejiang CF Moto Power Co. Ltd., Caterpillar Inc., Bombardier Recreational Products (BRP), BMS Motorsports Inc., and Arctic Cat Inc.