Safety norms to fuel MEA utility terrain vehicle market share
Publisher : Fractovia | Published Date : 2019-07-02Request Sample
MEA utility terrain vehicle (UTV) market has garnered remarkable momentum owing to growing popularity of side-by-side all-terrain vehicles in applications such as forestry, sports, highway engineering, and agriculture. A UTV not only offers off-road abilities but can also be to haul equipment and supplies in places where making use of truck becomes impractical or impossible. UTVs have particularly experienced massive demand from sports and utility segments, with increasing number of sporting events worldwide and consistent deployment in agricultural environments.
Saudi Arabia Utility Terrain Vehicles Market, By Application, 2018 & 2025, (USD Million)
Agriculture has been a major economic driver across the African region, while simultaneously meeting the growing food requirement in the Middle East, where Egypt, Jordan and Saudi Arabia have substantial farming footprint. UTVs allow farmers to easily carry tools and equipment as well as labor to and from the farming sites. Besides, disc harrows, aerators, cultipackers and other equipment can be attached to UTVs for earth digging and other operations. Consistent demand for food and other products derived from farming will sustain agricultural activates in the region, presenting a promising revenue source for MEA UTV market.
As increasing number of developments in vehicle manufacturing and technologies emerge, MEA UTV industry is poised to witness numerous advancements as well. The off-road sports application segment has been one of the notable components of the industry. Market leaders and regional contenders alike are leveraging the endless opportunities to customize and develop new sports UTVs, paving way for challenging racers. By making available powerful and reliable products for powersport, manufactures will generate considerable popularity for UTVs among riders and outdoor enthusiasts, fueling MEA UTV industry expansion.
Agriculture accounts for more than 32% of the gross domestic product of Africa, but a significant portion of the region struggles to find proper infrastructure to maintain productivity. It has been observed that various companies in the agricultural sector headquartered in developed countries are investing heavily in Africa, into technology adoption and other important areas. Highly maneuverable with large load-carrying capacities, UTVs have surged into the forefront of farming activities. Enhancing farming activities to provide more convenient means of operations could involve buying efficient vehicles, propelling demand for MEA UTV market.
Over the past few years it has been observed that there is considerable risk of injury and death associated with UTVs. To address these risks, regulatory authorities like Roads & Transport Authority (RTA) of Dubai, Department of Transport South Africa (DoT) aim to ensure the highest level of safety for UTV users by introducing vehicle safety norms. The implementation of regulations regarding licensing of UTVs to maintain safety of environment and people is slated to promote players in the MEA UTV industry to shift their focus toward product advancements.
Specific to forest services, the overall UTV industry is gaining significant momentum worldwide, and MEA region is one of the key contributors towards this increase. Vehicle manufactures have been giving more importance to engine reliability, towing performance, and cargo capacity of latest UTVs to strengthen consumer base. The adoption of off-road vehicles throughout forest trails and for tourism activities will reinforce the competitive outlook of MEA UTV industry. Reportedly, more than 21% of the total land area Africa is forested, indicating the significant potential for deployment of suitable UTV products in the region.
Growing applications fueled by developments in the field of sports, agriculture, and forestry along with the emergence of the advanced components like intelligent suspension systems will further advance MEA utility terrain vehicle industry scope. Yamaha Motors, Honda Motors, Polaris Industries, Kubota Corp and Kawasaki SA are some of the key players comprising the competitive hierarchy in the region. Global Market Insights, Inc. has projected that MEA utility terrain vehicle market will exceed annual revenues of more than $465 million by 2025.
