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Electric Utility Vehicle Market by Vehicle Type, Application, Battery Type (Lead Acid, Lithium-Ion), Drive Type (2WD, 4WD, AWD), Propulsion (Pure Electric, Hybrid Electric), Seating Capacity (1-Seater, 2-Seater, >2-Seater) Region - Global Forecast to 2027

October 2022 | 286 pages | ID: EA3933A4F74FEN
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The electric utility vehicle market is projected to grow from USD 18.9 billion in 2022 to USD 23.9 billion by 2027, registering a CAGR of 4.8%. Electric all-terrain vehicles (ATVs), utility task vehicles (UTVs), utility carts, shuttle carts, and industrial utility vehicles were mapped as part of this research. The growth of e-commerce and logistics industries has increased the demand for electric industrial utility vehicles (used for in-house operations) over the years. With the rapid setup of charging stations worldwide, demand for low-speed vehicles such as electric utility and shuttle carts has also increased. Technological breakthroughs in EV batteries and other EV technologies have made it possible to have high-power engines in electric ATVs and UTVs for off-roading (comparable to their ICE counterparts). This will create a shift in demand for electric ATVs and UTVs in the coming years. The electric utility vehicle market is dominated by established players such as Polaris (US), Club Car (US), Toyota Industries Corporation (Japan), John Deere (US), and Textron (US), among others. These players have worked on providing offerings for the electric utility vehicle ecosystem. They have initiated partnerships to develop their technology and provide best-in-class products to their customers.

“Electric industrial utility vehicles to be the largest segment in market during the forecast period”

Electric industrial utility vehicles are used for material handling operations across various industries. Battery-operated industrial vehicles use rechargeable batteries to power respective vehicles. These vehicles have been gaining significant traction in recent years. They have the advantage of being eco-friendly. These engines generate fewer emissions, making electric industrial vehicles an ideal green machine for warehouse and industrial projects.

The process of industrialization has picked up pace in the last decade, increasing the use of electric industrial vehicles. In regions such as Asia Pacific, Europe, and North America, most industrial vehicles are electric. For instance, around 64% of the forklifts in North America are electric. Nowadays, electric industrial vehicles are leveraged on a large scale in logistic and warehouse industries for carrying and towing loads, pulling, and other uses. Most logistics providers across the globe are focusing on reducing their carbon footprint. To reduce CO2 emissions and other exhaust gases, industrial vehicle manufacturers have been focusing on battery-operated vehicles. Many electric industrial vehicle manufacturing companies such as BYD, Toyota Industries Corporation, WAEV, and Kion Group have made technological advancements, acquisitions, and partnerships to flourish their production line of industrial vehicles. For instance, in July 2022, Toyota Material Handling, a subsidiary of Toyota Industries Corporation, announced the acquisition of Penn West Toyota Lift, a forklift dealership in Mount Pleasant, Pittsburgh, Erie, and Pennsylvania.

“Li-ion batteries to lead demand for electric utility vehicles in forecast period”

According to the Alternate Fuel Data Center (AFDC), most all-electric vehicles and Plug-in Hybrid Electric Vehicles (PHEVs) use lithium-ion batteries. R&D is ongoing to reduce their relatively high cost, extend their shelf life, and address safety concerns regarding overheating. Electric utility vehicles have become popular with the increased demand for city cars, golf carts, industrial vehicles, and utility vehicles. Traditionally, these vehicles were powered by lead-acid batteries that were bulky and heavy. Lithium-ion batteries, one-third the weight of lead-acid batteries, offer nearly 100% efficiency in charge and discharge.

Equipping a lithium-ion battery into an electric utility vehicle enables it to increase its weight-to-performance ratio significantly. In 2019, E-Z-GO developed the E-Z-GO Elite Lithium Vehicle powered by Samsung SDI Lithium technology. The company declared that the E-Z-GO RXV Elite Lithium vehicle had an annual cost of operation worth USD 3,000, used 2.98 kWh energy, and the battery weighed 46 LB, which is nearly eight times lighter than a lead-acid battery of 328 LB. Other OEMs such as Club Car have Onward Series and Tempo Lithium-ion series, and Yamaha Motor Co Ltd. has the AC2 series. Many domestic players in the electric utility vehicle market are focusing on producing lithium-ion battery-operated vehicles, such as Speedways Electric from India, which develops commercial electric vehicles, custom electric utility vehicle, food & beverage utility carts, Golf Cart - SGC Series, and Luxury Golf Cart - Royale Series for its clients from Tata, Aditya Birla Group, Godrej, Westin Hotels and Resorts, and other industries.

“North America to lead electric utility vehicle market in coming years by value”

North America constitutes the largest share in electric ATV, UTV, utility cart, and shuttle cart sales. The US is the primary contributor, followed by Canada and Mexico. The US has a high demand for these electric utility vehicles, owing to their use in recreational activities, agriculture, and commercial goods transport. Further, the popularity of mountain biking, trailing, off-road championships/events, and favorable terrain/weather also fuel the demand for these vehicles. The region is home to top players in the electric utility vehicles market. Canada is an emerging market and is likely to grow faster than US and Mexico in the coming years.

In-depth interviews were conducted with CEOs, marketing directors, other innovation and technology directors, and executives from various key organizations operating in this market.
  • By Company Type: Tier I – 67%, Tier II and Tier III – 9%, and OEMs – 24%
  • By Designation: CXOs – 33%, Managers – 52%, Executives – 15%
  • By Region: North America – 20%, Europe – 34%, Asia Pacific – 38%, Rest of the World – 8%
The electric utility vehicle market is dominated by established players such as Polaris (US), Club Car (US), Toyota Industries Corporation (Japan), John Deere (US), and Textron (US), among others. They have worked on providing offerings for the electric utility vehicle ecosystem. They have initiated partnerships to develop their electric utility vehicle technology and offer best-in-class products to their customers.

Research Coverage:

The report covers the electric utility vehicle market based on vehicle type, battery type, drive type, propulsion, seating capacity, application, and region (North America, Europe, Asia-Pacific, and the Rest of the World). It covers the competitive landscape and company profiles of the major players in the electric utility vehicle ecosystem.

The study also includes an in-depth competitive analysis of the key market players, their company profiles, key observations related to product and business offerings, recent developments, and key market strategies.

Key Benefits of Buying the Report:
  • This report will help market leaders/new entrants in this market with information on the closest approximations of revenue numbers for the overall electric utility vehicle ecosystem and its subsegments.
  • This report will help stakeholders understand the competitive landscape and gain more insights to better position their businesses and plan suitable go-to-market strategies.
  • This report will also help stakeholders understand the market’s pulse and provide information on key market drivers, restraints, challenges, and opportunities.
1 INTRODUCTION

1.1 STUDY OBJECTIVES
1.2 MARKET DEFINITION
TABLE 1 ELECTRIC UTILITY VEHICLE MARKET DEFINITION, BY VEHICLE TYPE
TABLE 2 ELECTRIC UTILITY VEHICLE MARKET DEFINITION, BY BATTERY TYPE
TABLE 3 ELECTRIC UTILITY VEHICLE MARKET DEFINITION, BY DRIVE TYPE
TABLE 4 ELECTRIC UTILITY VEHICLE MARKET DEFINITION, BY PROPULSION
TABLE 5 ELECTRIC UTILITY VEHICLE MARKET DEFINITION, BY SEATING CAPACITY
TABLE 6 ELECTRIC UTILITY VEHICLE MARKET DEFINITION, BY APPLICATION
  1.2.1 INCLUSIONS AND EXCLUSIONS
TABLE 7 INCLUSIONS AND EXCLUSIONS
1.3 MARKET SCOPE
FIGURE 1 MARKETS COVERED
  1.3.1 REGIONS COVERED
  1.3.2 YEARS CONSIDERED
1.4 CURRENCY CONSIDERED
TABLE 8 CURRENCY EXCHANGE RATES
1.5 STAKEHOLDERS

2 RESEARCH METHODOLOGY

2.1 RESEARCH DATA
FIGURE 2 ELECTRIC UTILITY VEHICLE MARKET: RESEARCH DESIGN
FIGURE 3 RESEARCH DESIGN MODEL
  2.1.1 SECONDARY DATA
    2.1.1.1 Key secondary sources
    2.1.1.2 Key data from secondary sources
  2.1.2 PRIMARY DATA
    2.1.2.1 Primary interviews – demand and supply sides
    2.1.2.2 Key industry insights and breakdown of primary interviews
FIGURE 4 KEY INDUSTRY INSIGHTS
FIGURE 5 BREAKDOWN OF PRIMARY INTERVIEWS
    2.1.2.3 List of primary participants
2.2 MARKET SIZE ESTIMATION
FIGURE 6 RESEARCH METHODOLOGY: HYPOTHESIS BUILDING
  2.2.1 BOTTOM-UP APPROACH
FIGURE 7 BOTTOM-UP APPROACH: ELECTRIC UTILITY VEHICLE MARKET
  2.2.2 TOP-DOWN APPROACH
FIGURE 8 TOP-DOWN APPROACH: ELECTRIC UTILITY VEHICLE MARKET
FIGURE 9 ELECTRIC UTILITY VEHICLE MARKET: MARKET ESTIMATION NOTES
FIGURE 10 ELECTRIC UTILITY VEHICLE MARKET: RESEARCH DESIGN AND METHODOLOGY – DEMAND SIDE
2.3 DATA TRIANGULATION
FIGURE 11 DATA TRIANGULATION METHODOLOGY
FIGURE 12 MARKET GROWTH PROJECTIONS FROM DEMAND-SIDE DRIVERS AND OPPORTUNITIES
2.4 FACTOR ANALYSIS
  2.4.1 FACTOR ANALYSIS FOR MARKET SIZING: DEMAND- AND SUPPLY-SIDE
2.5 RESEARCH ASSUMPTIONS
2.6 RESEARCH LIMITATIONS

3 EXECUTIVE SUMMARY

FIGURE 13 ELECTRIC UTILITY VEHICLE MARKET: MARKET OVERVIEW
FIGURE 14 ELECTRIC UTILITY VEHICLE MARKET, BY REGION, 2022–2027 (USD MILLION)
FIGURE 15 ELECTRIC UTILITY VEHICLE MARKET: ONGOING MARKET TRENDS
FIGURE 16 ELECTRIC INDUSTRIAL VEHICLE SEGMENT TO BE LARGEST MARKET (2022–2027)

4 PREMIUM INSIGHTS

4.1 ATTRACTIVE OPPORTUNITIES IN ELECTRIC UTILITY VEHICLE MARKET
FIGURE 17 GROWING DEMAND FOR ELECTRIC UTILITY AND SHUTTLE CARTS TO DRIVE MARKET
4.2 ELECTRIC UTILITY VEHICLE MARKET, BY REGION
FIGURE 18 NORTH AMERICA PROJECTED TO BE LARGEST MARKET DURING FORECAST PERIOD
4.3 ELECTRIC UTILITY VEHICLE MARKET, BY VEHICLE TYPE
FIGURE 19 ELECTRIC INDUSTRIAL VEHICLE TO BE DOMINANT SEGMENT (2022–2027)
4.4 ELECTRIC UTILITY VEHICLE MARKET, BY BATTERY TYPE
FIGURE 20 UTILITY VEHICLES USING LITHIUM-ION BATTERIES TO LEAD MARKET (2022–2027)
4.5 ELECTRIC UTILITY VEHICLE MARKET, BY DRIVE TYPE
FIGURE 21 2WD ELECTRIC UTILITY VEHICLES TO HOLD LARGEST MARKET SIZE DURING FORECAST PERIOD
4.6 ELECTRIC UTILITY VEHICLE MARKET, BY SEATING CAPACITY
FIGURE 22 2 SEATER ELECTRIC UTILITY VEHICLES TO ACQUIRE LARGEST MARKET SHARE (2022–2027)
4.7 ELECTRIC UTILITY VEHICLE MARKET, BY APPLICATION
FIGURE 23 COMMERCIAL TRANSPORT EXPECTED TO BE FASTEST-GROWING MARKET (2022–2027)
4.8 ELECTRIC UTILITY VEHICLE MARKET, BY PROPULSION
FIGURE 24 PURE ELECTRIC SEGMENT EXPECTED TO LEAD MARKET (2022–2027)
4.9 ELECTRIC UTILITY VEHICLE MARKET, BY REGION
FIGURE 25 NORTH AMERICA TO LEAD ELECTRIC UTILITY VEHICLE MARKET, BY VALUE

5 MARKET OVERVIEW

5.1 INTRODUCTION
5.2 MARKET DYNAMICS
FIGURE 26 ELECTRIC UTILITY VEHICLE MARKET: MARKET DYNAMICS
  5.2.1 DRIVERS
    5.2.1.1 Reduced prices of EV batteries
FIGURE 27 EV PRICES FALLING WITH BATTERY PRICES
    5.2.1.2 Growing e-commerce and warehousing sectors
FIGURE 28 TOTAL US E-COMMERCE RETAIL SALES, 2017?2021
FIGURE 29 QUARTERLY US E-COMMERCE RETAIL SALES FOR 2020?2021
    5.2.1.3 Rapid setup of charging infrastructure
FIGURE 30 NUMBER OF FAST CHARGERS AVAILABLE PUBLICLY
FIGURE 31 NUMBER OF SLOW CHARGERS AVAILABLE PUBLICLY
    5.2.1.4 Rising prices of petroleum
FIGURE 32 PRICE OF OIL IN LAST 3 DECADES
    5.2.1.5 Increased use of electric utility carts and shuttle carts
  5.2.2 RESTRAINTS
    5.2.2.1 Lower range compared to ICE counterparts
    5.2.2.2 Longer charging time than other fuels
FIGURE 33 CHARGING TIME REQUIRED TO CHARGE USING DIFFERENT CHARGING POINT TYPES
  5.2.3 OPPORTUNITIES
    5.2.3.1 Rising demand in automotive and transportation sectors
    5.2.3.2 Battery swapping for electric utility vehicles
FIGURE 34 BATTERY SWAPPING SYSTEM
  5.2.4 CHALLENGES
    5.2.4.1 Higher cost of electric utility vehicles
    5.2.4.2 Insufficient grid infrastructure globally
FIGURE 35 GRID REQUIREMENT FOR EVS IN GERMANY BY 2030
TABLE 9 ELECTRIC UTILITY VEHICLE MARKET: IMPACT OF MARKET DYNAMICS
5.3 PORTER’S FIVE FORCES
FIGURE 36 PORTER’S FIVE FORCES: ELECTRIC UTILITY VEHICLE MARKET
TABLE 10 ELECTRIC UTILITY VEHICLE MARKET: IMPACT OF PORTER’S FIVE FORCES
  5.3.1 THREAT OF SUBSTITUTES
  5.3.2 THREAT OF NEW ENTRANTS
  5.3.3 BARGAINING POWER OF BUYERS
  5.3.4 BARGAINING POWER OF SUPPLIERS
  5.3.5 INTENSITY OF COMPETITIVE RIVALRY
5.4 ELECTRIC UTILITY VEHICLE MARKET ECOSYSTEM
FIGURE 37 ELECTRIC UTILITY VEHICLE MARKET: ECOSYSTEM ANALYSIS
  5.4.1 EV CHARGING PROVIDERS
  5.4.2 ELECTRIC ATV/UTV MANUFACTURERS
  5.4.3 ELECTRIC MATERIAL HANDLING VEHICLE MANUFACTURERS
  5.4.4 ELECTRIC UTILITY CART MANUFACTURERS
  5.4.5 BATTERY PROVIDERS
  5.4.6 EUV COMPONENT MANUFACTURERS
  5.4.7 END USERS
TABLE 11 ELECTRIC UTILITY VEHICLE MARKET: ROLE OF COMPANIES IN ECOSYSTEM
5.5 SUPPLY CHAIN ANALYSIS
FIGURE 38 SUPPLY CHAIN ANALYSIS OF ELECTRIC UTILITY VEHICLE MARKET
5.6 ELECTRIC UTILITY VEHICLE PRICING ANALYSIS
TABLE 12 ELECTRIC UTILITY VEHICLE MARKET: ELECTRIC INDUSTRIAL/ MATERIAL HANDLING VEHICLES, 2021
TABLE 13 ELECTRIC UTILITY VEHICLE MARKET: ELECTRIC UTV, 2021
TABLE 14 ELECTRIC UTILITY VEHICLE MARKET: ELECTRIC ATV, 2021
TABLE 15 ELECTRIC UTILITY VEHICLE MARKET: REGIONAL PRICING ANALYSIS, 2021
TABLE 16 ELECTRIC UTILITY VEHICLE MARKET: REGIONAL PRICING ANALYSIS, 2027
5.7 TECHNOLOGY ANALYSIS
  5.7.1 IOT FOR AUTOMATED MATERIAL HANDLING
FIGURE 39 IOT FOR AUTOMATED MATERIAL HANDLING IN WAREHOUSES
  5.7.2 5G CONNECTIVITY FOR AUTOMATED WAREHOUSES
  5.7.3 AI FOR MATERIAL HANDLING
  5.7.4 SMART CHARGING SYSTEM
FIGURE 40 SMART EV CHARGING SYSTEM
  5.7.5 SOLID STATE BATTERY (SSB)
  5.7.6 INTELLIGENT EUVS
5.8 PATENT ANALYSIS
  5.8.1 INTRODUCTION
FIGURE 41 PUBLICATION TRENDS (2010?2022)
  5.8.2 PATENTS PUBLISHED BY MAJOR COMPANIES IN EV ECOSYSTEM
FIGURE 42 ELECTRIC VEHICLE PATENTS, TREND ANALYSIS (2010?2022)
TABLE 17 IMPORTANT PATENT REGISTRATIONS RELATED TO ELECTRIC UTILITY VEHICLE MARKET
5.9 TRADE ANALYSIS
TABLE 18 TRADE ANALYSIS: SPECIALLY DESIGNED FOR TRAVELLING ON SNOW, GOLF CARS, AND SIMILAR VEHICLES (870310)
5.10 REGULATORY LANDSCAPE
  5.10.1 LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
TABLE 19 LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS FOR MATERIAL HANDLING VEHICLES: ELECTRIC UTILITY VEHICLE MARKET
  5.10.2 REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS: BY COUNTRY
TABLE 20 NORTH AMERICA: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
TABLE 21 EUROPE: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
TABLE 22 ASIA PACIFIC: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
TABLE 23 US: UTILITY VEHICLE REGULATIONS
TABLE 24 CANADA: UTILITY VEHICLE REGULATIONS
TABLE 25 SAFETY STANDARDS FOR MATERIAL HANDLING VEHICLES
5.11 KEY CONFERENCES AND EVENTS IN 2022 AND 2023
TABLE 26 ELECTRIC UTILITY VEHICLE MARKET: DETAILED LIST OF CONFERENCES AND EVENTS
5.12 CASE STUDIES
  5.12.1 THYSSENKRUPP DECIDED ON FLEXIBLE AUTOMATION
  5.12.2 TOYOTA’S AUTOMATED FORKLIFTS SUPPORTED ELM.LEBLANC’S 4.0 JOURNEY
  5.12.3 INDUCTIVE CHARGING SYSTEM FOR INDUSTRIAL/MATERIAL HANDLING VEHICLES
  5.12.4 CLUB CAR’S TEMPO 2+2 FOR KETTERING GENERAL HOSPITAL
  5.12.5 CUTR CASE FOR USE OF SMALL NEVS FOR AGED POPULATION
5.13 TRENDS AND DISRUPTIONS
FIGURE 43 ELECTRIC UTILITY VEHICLE MARKET: TRENDS AND DISRUPTIONS
5.14 ELECTRIC UTILITY VEHICLE MARKET SCENARIOS (2022–2027)
  5.14.1 MOST LIKELY SCENARIO
FIGURE 44 ELECTRIC UTILITY VEHICLE MARKET – FUTURE TRENDS AND SCENARIOS, 2022–2027 (USD MILLION)
TABLE 27 ELECTRIC UTILITY VEHICLE MARKET (MOST LIKELY), BY REGION, 2022–2027 (USD MILLION)
  5.14.2 OPTIMISTIC SCENARIO
TABLE 28 ELECTRIC UTILITY VEHICLE MARKET (OPTIMISTIC), BY REGION, 2022–2027 (USD MILLION)
  5.14.3 PESSIMISTIC SCENARIO
TABLE 29 ELECTRIC UTILITY VEHICLE MARKET (PESSIMISTIC), BY REGION, 2022–2027 (USD MILLION)

6 ELECTRIC UTILITY VEHICLE MARKET, BY APPLICATION

6.1 INTRODUCTION
FIGURE 45 INDUSTRIAL SEGMENT TO BE LARGEST SEGMENT DURING FORECAST PERIOD
TABLE 30 ELECTRIC UTILITY VEHICLE MARKET, BY APPLICATION, 2018–2021 (THOUSAND UNITS)
TABLE 31 ELECTRIC UTILITY VEHICLE MARKET, BY APPLICATION, 2022–2027 (THOUSAND UNITS)
TABLE 32 ELECTRIC UTILITY VEHICLE MARKET, BY APPLICATION, 2018–2021 (USD MILLION)
TABLE 33 ELECTRIC UTILITY VEHICLE MARKET, BY APPLICATION, 2022–2027 (USD MILLION)
  6.1.1 OPERATIONAL DATA
TABLE 34 POPULAR AND UPCOMING EVS WORLDWIDE
  6.1.2 ASSUMPTIONS
TABLE 35 ASSUMPTIONS: BY APPLICATION
  6.1.3 RESEARCH METHODOLOGY
6.2 COMMERCIAL TRANSPORT
  6.2.1 GROWING DEMAND FOR ELECTRIC MOBILITY IN LOW-SPEED VEHICLES
TABLE 36 ELECTRIC UTILITY VEHICLE MARKET FOR COMMERCIAL TRANSPORT, BY REGION, 2018–2021 (THOUSAND UNITS)
TABLE 37 ELECTRIC UTILITY VEHICLE MARKET FOR COMMERCIAL TRANSPORT, BY REGION, 2022–2027 (THOUSAND UNITS)
TABLE 38 ELECTRIC UTILITY VEHICLE MARKET FOR COMMERCIAL TRANSPORT, BY REGION, 2018–2021 (USD MILLION)
TABLE 39 ELECTRIC UTILITY VEHICLE MARKET FOR COMMERCIAL TRANSPORT, BY REGION, 2022–2027 (USD MILLION)
6.3 RECREATIONAL
  6.3.1 GROWING DEMAND FOR OUTDOOR LEISURE AND RECREATIONAL ACTIVITIES
TABLE 40 ELECTRIC UTILITY VEHICLE MARKET FOR RECREATIONAL, BY REGION, 2018–2021 (THOUSAND UNITS)
TABLE 41 ELECTRIC UTILITY VEHICLE MARKET FOR RECREATIONAL, BY REGION, 2022–2027 (THOUSAND UNITS)
TABLE 42 ELECTRIC UTILITY VEHICLE MARKET FOR RECREATIONAL, BY REGION, 2018–2021 (USD MILLION)
TABLE 43 ELECTRIC UTILITY VEHICLE MARKET FOR RECREATIONAL, BY REGION, 2022–2027 (USD MILLION)
6.4 AGRICULTURE
  6.4.1 GOVERNMENT PUSH FOR USE OF ELECTRIC VEHICLES FOR AGRICULTURAL ACTIVITIES
TABLE 44 ELECTRIC UTILITY VEHICLE MARKET FOR AGRICULTURE, BY REGION, 2018–2021 (THOUSAND UNITS)
TABLE 45 ELECTRIC UTILITY VEHICLE MARKET FOR AGRICULTURE, BY REGION, 2022–2027 (THOUSAND UNITS)
TABLE 46 ELECTRIC UTILITY VEHICLE MARKET FOR AGRICULTURE, BY REGION, 2018–2021 (USD MILLION)
TABLE 47 ELECTRIC UTILITY VEHICLE MARKET FOR AGRICULTURE, BY REGION, 2022–2027 (USD MILLION)
6.5 INDUSTRIAL
  6.5.1 HIGH DEMAND FOR INDUSTRIAL AND MATERIAL HANDLING ELECTRIC VEHICLES
TABLE 48 ELECTRIC UTILITY VEHICLE MARKET FOR INDUSTRIAL, BY REGION, 2018–2021 (THOUSAND UNITS)
TABLE 49 ELECTRIC UTILITY VEHICLE MARKET FOR INDUSTRIAL, BY REGION, 2022–2027 (THOUSAND UNITS)
TABLE 50 ELECTRIC UTILITY VEHICLE MARKET FOR INDUSTRIAL, BY REGION, 2018–2021 (USD MILLION)
TABLE 51 ELECTRIC UTILITY VEHICLE MARKET FOR INDUSTRIAL, BY REGION, 2022–2027 (USD MILLION)
6.6 OTHERS
  6.6.1 GROWING USE OF ELECTRIC ATVS/UTVS IN DEFENSE, FORESTRY, HUNTING
TABLE 52 ELECTRIC UTILITY VEHICLE MARKET FOR OTHER APPLICATIONS, BY REGION, 2018–2021 (THOUSAND UNITS)
TABLE 53 ELECTRIC UTILITY VEHICLE MARKET FOR OTHER APPLICATIONS, BY REGION, 2022–2027 (THOUSAND UNITS)
TABLE 54 ELECTRIC UTILITY VEHICLE MARKET FOR OTHER APPLICATIONS, BY REGION, 2018–2021 (USD MILLION)
TABLE 55 ELECTRIC UTILITY VEHICLE MARKET FOR OTHER APPLICATIONS, BY REGION, 2022–2027 (USD MILLION)
6.7 KEY PRIMARY INSIGHTS

7 ELECTRIC UTILITY VEHICLE MARKET, BY VEHICLE TYPE

7.1 INTRODUCTION
FIGURE 46 ELECTRIC UTILITY CART SEGMENT TO REGISTER HIGHER CAGR DURING FORECAST PERIOD (2022–2027)
TABLE 56 ELECTRIC UTILITY VEHICLE MARKET, BY VEHICLE TYPE, 2018–2021 (THOUSAND UNITS)
TABLE 57 ELECTRIC UTILITY VEHICLE MARKET, BY VEHICLE TYPE, 2022–2027 (THOUSAND UNITS)
TABLE 58 ELECTRIC UTILITY VEHICLE MARKET, BY VEHICLE TYPE, 2018–2021 (USD MILLION)
TABLE 59 ELECTRIC UTILITY VEHICLE MARKET, BY VEHICLE TYPE, 2022–2027 (USD MILLION)
  7.1.1 OPERATIONAL DATA
TABLE 60 POPULAR EUVS BY VEHICLE TYPE
  7.1.2 ASSUMPTIONS
TABLE 61 ASSUMPTIONS: BY VEHICLE TYPE
  7.1.3 RESEARCH METHODOLOGY
7.2 ELECTRIC ATV
  7.2.1 INCREASED RECREATIONAL AND AGRICULTURAL ACTIVITIES TO DRIVE MARKET
TABLE 62 ELECTRIC ATV MARKET, BY REGION, 2018–2021 (THOUSAND UNITS)
TABLE 63 ELECTRIC ATV MARKET, BY REGION, 2022–2027 (THOUSAND UNITS)
TABLE 64 ELECTRIC ATV MARKET, BY REGION, 2018–2021 (USD MILLION)
TABLE 65 ELECTRIC ATV MARKET, BY REGION, 2022–2027 (USD MILLION)
7.3 ELECTRIC UTV
  7.3.1 INCREASED HUNTING, AGRICULTURE, RECREATION, AND FORESTRY ACTIVITIES
TABLE 66 ELECTRIC UTV MARKET, BY REGION, 2018–2021 (THOUSAND UNITS)
TABLE 67 ELECTRIC UTV MARKET, BY REGION, 2022–2027 (THOUSAND UNITS)
TABLE 68 ELECTRIC UTV MARKET, BY REGION, 2018–2021 (USD MILLION)
TABLE 69 ELECTRIC UTV MARKET, BY REGION, 2022–2027 (USD MILLION)
7.4 ELECTRIC INDUSTRIAL VEHICLE
  7.4.1 CONSISTENT GROWTH IN WAREHOUSING AND E-COMMERCE
TABLE 70 ELECTRIC INDUSTRIAL VEHICLE MARKET, BY REGION, 2018–2021 (THOUSAND UNITS)
TABLE 71 ELECTRIC INDUSTRIAL VEHICLE MARKET, BY REGION, 2022–2027 (THOUSAND UNITS)
TABLE 72 ELECTRIC INDUSTRIAL VEHICLE MARKET, BY REGION, 2018–2021 (USD MILLION)
TABLE 73 ELECTRIC INDUSTRIAL VEHICLE MARKET, BY REGION, 2022–2027 (USD MILLION)
7.5 ELECTRIC UTILITY CART
  7.5.1 GROWTH IN DEMAND FOR LOW-EMISSION TRANSPORT
TABLE 74 ELECTRIC UTILITY CART MARKET, BY REGION, 2018–2021 (THOUSAND UNITS)
TABLE 75 ELECTRIC UTILITY CART MARKET, BY REGION, 2022–2027 (THOUSAND UNITS)
TABLE 76 ELECTRIC UTILITY CART MARKET, BY REGION, 2018–2021 (USD MILLION)
TABLE 77 ELECTRIC UTILITY CART MARKET, BY REGION, 2022–2027 (USD MILLION)
7.6 ELECTRIC SHUTTLE CART
  7.6.1 DEMAND FOR LOW-EMISSION PASSENGER TRANSPORT FOR RECREATIONAL ACTIVITIES AND TOURISM
TABLE 78 ELECTRIC SHUTTLE CART MARKET, BY REGION, 2018–2021 (THOUSAND UNITS)
TABLE 79 ELECTRIC SHUTTLE CART MARKET, BY REGION, 2022–2027 (THOUSAND UNITS)
TABLE 80 ELECTRIC SHUTTLE CART MARKET, BY REGION, 2018–2021 (USD MILLION)
TABLE 81 ELECTRIC SHUTTLE CART MARKET, BY REGION, 2022–2027 (USD MILLION)
7.7 KEY PRIMARY INSIGHTS

8 ELECTRIC UTILITY VEHICLE MARKET, BY BATTERY TYPE

8.1 INTRODUCTION
FIGURE 47 EV BATTERY TYPE COMPARISON
FIGURE 48 LITHIUM-ION BATTERIES SEGMENT TO REGISTER LARGEST MARKET SIZE DURING FORECAST PERIOD (2022–2027)
TABLE 82 ELECTRIC UTILITY VEHICLE MARKET, BY BATTERY TYPE, 2018–2021 (THOUSAND UNITS)
TABLE 83 ELECTRIC UTILITY VEHICLE MARKET, BY BATTERY TYPE, 2022–2027 (THOUSAND UNITS)
TABLE 84 ELECTRIC UTILITY VEHICLE MARKET, BY BATTERY TYPE, 2018–2021 (USD MILLION)
TABLE 85 ELECTRIC UTILITY VEHICLE MARKET, BY BATTERY TYPE, 2022–2027 (USD MILLION)
  8.1.1 OPERATIONAL DATA
TABLE 86 POPULAR ELECTRIC UTILITY VEHICLES AND THEIR BATTERIES
  8.1.2 ASSUMPTIONS
TABLE 87 ASSUMPTIONS: BY BATTERY TYPE
  8.1.3 RESEARCH METHODOLOGY
8.2 LEAD-ACID
  8.2.1 LOW COST AND EASY AVAILABILITY
TABLE 88 LEAD-ACID BATTERY SPECIFICATIONS
TABLE 89 LEAD-ACID BATTERY MARKET, BY REGION, 2018-2021 (THOUSAND UNITS)
TABLE 90 LEAD-ACID BATTERY MARKET, BY REGION, 2022–2027 (THOUSAND UNITS)
TABLE 91 LEAD ACID BATTERY MARKET, BY REGION, 2018–2021 (USD MILLION)
TABLE 92 LEAD ACID BATTERY MARKET, BY REGION, 2022–2027 (USD MILLION)
8.3 LITHIUM-ION
  8.3.1 HIGHER RANGE AND LOWER WEIGHT
TABLE 93 LITHIUM-ION BATTERY SPECIFICATIONS
TABLE 94 LITHIUM-ION BATTERY MARKET, BY REGION, 2018–2021 (THOUSAND UNITS)
TABLE 95 LITHIUM-ION BATTERY MARKET, BY REGION, 2022–2027 (THOUSAND UNITS)
TABLE 96 LITHIUM-ION BATTERY MARKET, BY REGION, 2018–2021 (USD MILLION)
TABLE 97 LITHIUM-ION BATTERY MARKET, BY REGION, 2022–2027 (USD MILLION)
8.4 OTHERS
  8.4.1 DEVELOPMENT IN NEW BATTERY TECHNOLOGIES TO DRIVE DEMAND
TABLE 98 HYBRID NICKEL-METAL (NIMH) BATTERY SPECIFICATIONS
TABLE 99 OTHER BATTERY MARKET, BY REGION, 2018–2021 (THOUSAND UNITS)
TABLE 100 OTHER BATTERY MARKET, BY REGION, 2022–2027 (THOUSAND UNITS)
TABLE 101 OTHER BATTERY MARKET, BY REGION, 2018–2021 (USD MILLION)
TABLE 102 OTHER BATTERY MARKET, BY REGION, 2022–2027 (USD MILLION)
8.5 KEY PRIMARY INSIGHTS

9 ELECTRIC UTILITY VEHICLE MARKET, BY DRIVE TYPE

9.1 INTRODUCTION
FIGURE 49 4WD SEGMENT TO REGISTER HIGHER CAGR FROM 2022 TO 2027
TABLE 103 ELECTRIC UTILITY VEHICLE MARKET, BY DRIVE TYPE, 2018–2021 (THOUSAND UNITS)
TABLE 104 ELECTRIC UTILITY VEHICLE MARKET, BY DRIVE TYPE, 2022–2027 (THOUSAND UNITS)
TABLE 105 ELECTRIC UTILITY VEHICLE MARKET, BY DRIVE TYPE, 2018–2021 (USD MILLION)
TABLE 106 ELECTRIC UTILITY VEHICLE MARKET, BY DRIVE TYPE, 2022–2027 (USD MILLION)
  9.1.1 OPERATIONAL DATA
TABLE 107 EUVS AND THEIR DRIVE TYPE COMPARISON
  9.1.2 ASSUMPTIONS
TABLE 108 ASSUMPTIONS: BY DRIVE TYPE
  9.1.3 RESEARCH METHODOLOGY
9.2 2WD
  9.2.1 CONVENIENT OPERATION AND LOWER PRICES
TABLE 109 2WD ELECTRIC UTILITY VEHICLE MARKET, BY REGION, 2018–2021 (THOUSAND UNITS)
TABLE 110 2WD ELECTRIC UTILITY VEHICLE MARKET, BY REGION, 2022–2027 (THOUSAND UNITS)
TABLE 111 2WD ELECTRIC UTILITY VEHICLE MARKET, BY REGION, 2018–2021 (USD MILLION)
TABLE 112 2WD ELECTRIC UTILITY VEHICLE MARKET, BY REGION, 2022–2027 (USD MILLION)
9.3 4WD
  9.3.1 BETTER TRACTION AND ABILITY TO SWITCH TO 2WD
TABLE 113 4WD ELECTRIC UTILITY VEHICLE MARKET, BY REGION, 2018–2021 (THOUSAND UNITS)
TABLE 114 4WD ELECTRIC UTILITY VEHICLE MARKET, BY REGION, 2022–2027 (THOUSAND UNITS)
TABLE 115 4WD ELECTRIC UTILITY VEHICLE MARKET, BY REGION, 2018–2021 (USD MILLION)
TABLE 116 4WD ELECTRIC UTILITY VEHICLE MARKET, BY REGION, 2022–2027 (USD MILLION)
9.4 AWD
  9.4.1 DEMAND FOR HIGHER CARRYING AND TOWING CAPACITY FOR OFF-ROADS
TABLE 117 AWD ELECTRIC UTILITY VEHICLE MARKET, BY REGION, 2018–2021 (THOUSAND UNITS)
TABLE 118 AWD ELECTRIC UTILITY VEHICLE MARKET, BY REGION, 2022–2027 (THOUSAND UNITS)
TABLE 119 AWD ELECTRIC UTILITY VEHICLE MARKET, BY REGION, 2018–2021 (USD MILLION)
TABLE 120 AWD ELECTRIC UTILITY VEHICLE MARKET, BY REGION, 2022–2027 (USD MILLION)
9.5 KEY PRIMARY INSIGHTS

10 ELECTRIC UTILITY VEHICLE MARKET, BY SEATING CAPACITY

10.1 INTRODUCTION
FIGURE 50 >2 SEATER SEGMENT TO REGISTER HIGHER CAGR DURING FORECAST PERIOD (2022–2027)
TABLE 121 ELECTRIC UTILITY VEHICLE MARKET, BY SEATING CAPACITY, 2018–2021 (THOUSAND UNITS)
TABLE 122 ELECTRIC UTILITY VEHICLE MARKET, BY SEATING CAPACITY, 2022–2027 (THOUSAND UNITS)
TABLE 123 ELECTRIC UTILITY VEHICLE MARKET, BY SEATING CAPACITY, 2018–2021 (USD MILLION)
TABLE 124 ELECTRIC UTILITY VEHICLE MARKET, BY SEATING CAPACITY, 2022–2027 (USD MILLION)
  10.1.1 OPERATIONAL DATA
TABLE 125 EUVS AND THEIR SEATING CAPACITY
  10.1.2 ASSUMPTIONS
TABLE 126 ASSUMPTIONS: BY SEATING CAPACITY
  10.1.3 RESEARCH METHODOLOGY
10.2 1 SEATER
  10.2.1 DEMAND FOR ELECTRIC INDUSTRIAL VEHICLES AND ATVS TO BOOST DEMAND
TABLE 127 1 SEATER ELECTRIC UTILITY VEHICLE MARKET, BY REGION, 2018–2021 (THOUSAND UNITS)
TABLE 128 1 SEATER ELECTRIC UTILITY VEHICLE MARKET, BY REGION, 2022–2027 (THOUSAND UNITS)
TABLE 129 1 SEATER ELECTRIC UTILITY VEHICLE MARKET, BY REGION, 2018–2021 (USD MILLION)
TABLE 130 1 SEATER ELECTRIC UTILITY VEHICLE MARKET, BY REGION, 2022–2027 (USD MILLION)
10.3 2 SEATER
  10.3.1 INCREASED USE OF ELECTRIC UTVS AND CARTS TO FUEL GROWTH
TABLE 131 2 SEATER ELECTRIC UTILITY VEHICLE MARKET, BY REGION, 2018–2021 (THOUSAND UNITS)
TABLE 132 2 SEATER ELECTRIC UTILITY VEHICLE MARKET, BY REGION, 2022–2027 (THOUSAND UNITS)
TABLE 133 2 SEATER ELECTRIC UTILITY VEHICLE MARKET, BY REGION, 2018–2021 (USD MILLION)
TABLE 134 2 SEATER ELECTRIC UTILITY VEHICLE MARKET, BY REGION, 2022–2027 (USD MILLION)
10.4 >2 SEATER
  10.4.1 INCREASED DEMAND DUE TO COMMERCIAL AND PASSENGER-CARRYING ELECTRIC VEHICLES
TABLE 135 >2 SEATER ELECTRIC UTILITY VEHICLE MARKET, BY REGION, 2018–2021 (THOUSAND UNITS)
TABLE 136 >2 SEATER ELECTRIC UTILITY VEHICLE MARKET, BY REGION, 2022–2027 (THOUSAND UNITS)
TABLE 137 >2 SEATER ELECTRIC UTILITY VEHICLE MARKET, BY REGION, 2018–2021 (USD MILLION)
TABLE 138 >2 SEATER ELECTRIC UTILITY VEHICLE MARKET, BY REGION, 2022–2027 (USD MILLION)
10.5 KEY PRIMARY INSIGHTS

11 ELECTRIC UTILITY VEHICLE MARKET, BY PROPULSION

11.1 INTRODUCTION
FIGURE 51 HYBRID ELECTRIC SEGMENT PROJECTED TO GROW AT HIGHER CAGR (2022–2027)
TABLE 139 ELECTRIC UTILITY VEHICLE MARKET, BY PROPULSION, 2018–2021 (THOUSAND UNITS)
TABLE 140 ELECTRIC UTILITY VEHICLE MARKET, BY PROPULSION, 2022–2027 (THOUSAND UNITS)
TABLE 141 ELECTRIC UTILITY VEHICLE MARKET, BY PROPULSION, 2018–2021 (USD MILLION)
TABLE 142 ELECTRIC UTILITY VEHICLE MARKET, BY PROPULSION, 2022–2027 (USD MILLION)
  11.1.1 OPERATIONAL DATA
TABLE 143 POPULAR EUVS COMPARISON BY PROPULSION TYPE
  11.1.2 ASSUMPTIONS
TABLE 144 ASSUMPTIONS: BY PROPULSION
  11.1.3 RESEARCH METHODOLOGY
11.2 PURE ELECTRIC
  11.2.1 DECREASE IN EV BATTERY PRICE TO REDUCE COST AND INCREASE DEMAND
TABLE 145 PURE ELECTRIC UTILITY VEHICLE MARKET, BY REGION, 2018–2021 (THOUSAND UNITS)
TABLE 146 PURE ELECTRIC UTILITY VEHICLE MARKET, BY REGION, 2022–2027 (THOUSAND UNITS)
TABLE 147 PURE ELECTRIC UTILITY VEHICLE MARKET, BY REGION, 2018–2021 (USD MILLION)
TABLE 148 PURE ELECTRIC UTILITY VEHICLE MARKET, BY REGION, 2022–2027 (USD MILLION)
11.3 HYBRID ELECTRIC
  11.3.1 DEMAND FOR MULTIPLE FUEL SOURCES FOR ENHANCED PERFORMANCE
TABLE 149 HYBRID ELECTRIC UTILITY VEHICLE MARKET, BY REGION, 2018–2021 (THOUSAND UNITS)
TABLE 150 HYBRID ELECTRIC UTILITY VEHICLE MARKET, BY REGION, 2022–2027 (THOUSAND UNITS)
TABLE 151 HYBRID ELECTRIC UTILITY VEHICLE MARKET, BY REGION, 2018–2021 (USD MILLION)
TABLE 152 HYBRID ELECTRIC UTILITY VEHICLE MARKET, BY REGION, 2022–2027 (USD MILLION)
11.4 KEY PRIMARY INSIGHTS

12 ELECTRIC UTILITY VEHICLE MARKET, BY REGION

12.1 INTRODUCTION
FIGURE 52 ELECTRIC UTILITY VEHICLE MARKET, BY REGION, 2022–2027 (USD MILLION)
TABLE 153 ELECTRIC UTILITY VEHICLE MARKET, BY REGION, 2018–2021 (THOUSAND UNITS)
TABLE 154 ELECTRIC UTILITY VEHICLE MARKET, BY REGION, 2022–2027 (THOUSAND UNITS)
TABLE 155 ELECTRIC UTILITY VEHICLE MARKET, BY REGION, 2018–2021 (USD MILLION)
TABLE 156 ELECTRIC UTILITY VEHICLE MARKET, BY REGION, 2022–2027 (USD MILLION)
12.2 ASIA PACIFIC
FIGURE 53 ASIA PACIFIC: ELECTRIC UTILITY VEHICLE MARKET SNAPSHOT
TABLE 157 ASIA PACIFIC: ELECTRIC UTILITY VEHICLE MARKET, BY COUNTRY, 2018–2021 (THOUSAND UNITS)
TABLE 158 ASIA PACIFIC: ELECTRIC UTILITY VEHICLE MARKET, BY COUNTRY, 2022–2027 (THOUSAND UNITS)
TABLE 159 ASIA PACIFIC: ELECTRIC UTILITY VEHICLE MARKET, BY COUNTRY, 2018–2021 (USD MILLION)
TABLE 160 ASIA PACIFIC: ELECTRIC UTILITY VEHICLE MARKET, BY COUNTRY, 2022–2027 (USD MILLION)
  12.2.1 CHINA
    12.2.1.1 High demand for electric industrial vehicles
TABLE 161 CHINA: ELECTRIC UTILITY VEHICLE MARKET, BY VEHICLE TYPE, 2018–2021 (UNITS)
TABLE 162 CHINA: ELECTRIC UTILITY VEHICLE MARKET, BY VEHICLE TYPE, 2022–2027 (UNITS)
TABLE 163 CHINA: ELECTRIC UTILITY VEHICLE MARKET, BY VEHICLE TYPE, 2018–2021 (USD MILLION)
TABLE 164 CHINA: ELECTRIC UTILITY VEHICLE MARKET, BY VEHICLE TYPE, 2022–2027 (USD MILLION)
  12.2.2 JAPAN
    12.2.2.1 Growing popularity of electric utility and shuttle carts
TABLE 165 JAPAN: ELECTRIC UTILITY VEHICLE MARKET, BY VEHICLE TYPE, 2018–2021 (UNITS)
TABLE 166 JAPAN: ELECTRIC UTILITY VEHICLE MARKET, BY VEHICLE TYPE, 2022–2027 (UNITS)
TABLE 167 JAPAN: ELECTRIC UTILITY VEHICLE MARKET, BY VEHICLE TYPE, 2018–2021 (USD MILLION)
TABLE 168 JAPAN: ELECTRIC UTILITY VEHICLE MARKET, BY VEHICLE TYPE, 2022–2027 (USD MILLION)
  12.2.3 INDIA
    12.2.3.1 Rapid industrialization and growth in recreational activities
TABLE 169 INDIA: ELECTRIC UTILITY VEHICLE MARKET, BY VEHICLE TYPE, 2018–2021 (UNITS)
TABLE 170 INDIA: ELECTRIC UTILITY VEHICLE MARKET, BY VEHICLE TYPE, 2022–2027 (UNITS)
TABLE 171 INDIA: ELECTRIC UTILITY VEHICLE MARKET, BY VEHICLE TYPE, 2018–2021 (USD MILLION)
TABLE 172 INDIA: ELECTRIC UTILITY VEHICLE MARKET, BY VEHICLE TYPE, 2022–2027 (USD MILLION)
  12.2.4 SOUTH KOREA
    12.2.4.1 Growth of e-commerce and tourism industries to increase demand for electric utility vehicles
TABLE 173 SOUTH KOREA: ELECTRIC UTILITY VEHICLE MARKET, BY VEHICLE TYPE, 2018–2021 (UNITS)
TABLE 174 SOUTH KOREA: ELECTRIC UTILITY VEHICLE MARKET, BY VEHICLE TYPE, 2022–2027 (UNITS)
TABLE 175 SOUTH KOREA: ELECTRIC UTILITY VEHICLE MARKET, BY VEHICLE TYPE, 2018–2021 (USD MILLION)
TABLE 176 SOUTH KOREA: ELECTRIC UTILITY VEHICLE MARKET, BY VEHICLE TYPE, 2022–2027 (USD MILLION)
12.3 EUROPE
FIGURE 54 EUROPE: ELECTRIC UTILITY VEHICLE MARKET, BY COUNTRY, 2022–2027 (USD MILLION)
TABLE 177 EUROPE: ELECTRIC UTILITY VEHICLE MARKET, BY COUNTRY, 2018–2021 (THOUSAND UNITS)
TABLE 178 EUROPE: ELECTRIC UTILITY VEHICLE MARKET, BY COUNTRY, 2022–2027 (THOUSAND UNITS)
TABLE 179 EUROPE: ELECTRIC UTILITY VEHICLE MARKET, BY COUNTRY, 2018–2021 (USD MILLION)
TABLE 180 EUROPE: ELECTRIC UTILITY VEHICLE MARKET, BY COUNTRY, 2022–2027 (USD MILLION)
  12.3.1 FRANCE
    12.3.1.1 Growing e-commerce and logistics sectors to increase demand for electric utility vehicles
TABLE 181 FRANCE: ELECTRIC UTILITY VEHICLE MARKET, BY VEHICLE TYPE, 2018–2021 (UNITS)
TABLE 182 FRANCE: ELECTRIC UTILITY VEHICLE MARKET, BY VEHICLE TYPE, 2022–2027 (UNITS)
TABLE 183 FRANCE: ELECTRIC UTILITY VEHICLE MARKET, BY VEHICLE TYPE, 2018–2021 (USD MILLION)
TABLE 184 FRANCE: ELECTRIC UTILITY VEHICLE MARKET, BY VEHICLE TYPE, 2022–2027 (USD MILLION)
  12.3.2 GERMANY
    12.3.2.1 Hike in petroleum prices to drive demand for electric utility vehicles
TABLE 185 GERMANY: ELECTRIC UTILITY VEHICLE MARKET, BY VEHICLE TYPE, 2018–2021 (UNITS)
TABLE 186 GERMANY: ELECTRIC UTILITY VEHICLE MARKET, BY VEHICLE TYPE, 2022–2027 (UNITS)
TABLE 187 GERMANY: ELECTRIC UTILITY VEHICLE MARKET, BY VEHICLE TYPE, 2018–2021 (USD MILLION)
TABLE 188 GERMANY: ELECTRIC UTILITY VEHICLE MARKET, BY VEHICLE TYPE, 2022–2027 (USD MILLION)
  12.3.3 SPAIN
    12.3.3.1 Growth of warehouse and e-commerce industries to drive demand for electric utility vehicles
TABLE 189 SPAIN: ELECTRIC UTILITY VEHICLE MARKET, BY VEHICLE TYPE, 2018–2021 (UNITS)
TABLE 190 SPAIN: ELECTRIC UTILITY VEHICLE MARKET, BY VEHICLE TYPE, 2022–2027 (UNITS)
TABLE 191 SPAIN: ELECTRIC UTILITY VEHICLE MARKET, BY VEHICLE TYPE, 2018–2021 (USD MILLION)
TABLE 192 SPAIN: ELECTRIC UTILITY VEHICLE MARKET, BY VEHICLE TYPE, 2022–2027 (USD MILLION)
  12.3.4 UK
    12.3.4.1 Demand for eco-friendly passenger and commercial transport to drive market
TABLE 193 UK: ELECTRIC UTILITY VEHICLE MARKET, BY VEHICLE TYPE, 2018–2021 (UNITS)
TABLE 194 UK: ELECTRIC UTILITY VEHICLE MARKET, BY VEHICLE TYPE, 2022–2027 (UNITS)
TABLE 195 UK: ELECTRIC UTILITY VEHICLE MARKET, BY VEHICLE TYPE, 2018–2021 (USD MILLION)
TABLE 196 UK: ELECTRIC UTILITY VEHICLE MARKET, BY VEHICLE TYPE, 2022–2027 (USD MILLION)
  12.3.5 REST OF EUROPE
    12.3.5.1 Rise in manufacturing facilities and tourism
TABLE 197 REST OF EUROPE: ELECTRIC UTILITY VEHICLE MARKET, BY VEHICLE TYPE, 2018–2021 (UNITS)
TABLE 198 REST OF EUROPE: ELECTRIC UTILITY VEHICLE MARKET, BY VEHICLE TYPE, 2022–2027 (UNITS)
TABLE 199 REST OF EUROPE: ELECTRIC UTILITY VEHICLE MARKET, BY VEHICLE TYPE, 2018–2021 (USD MILLION)
TABLE 200 REST OF EUROPE: ELECTRIC UTILITY VEHICLE MARKET, BY VEHICLE TYPE, 2022–2027 (USD MILLION)
12.4 NORTH AMERICA
FIGURE 55 NORTH AMERICA: ELECTRIC UTILITY VEHICLE MARKET, SNAPSHOT
TABLE 201 NORTH AMERICA: ELECTRIC UTILITY VEHICLE MARKET, BY COUNTRY, 2018–2021 (THOUSAND UNITS)
TABLE 202 NORTH AMERICA: ELECTRIC UTILITY VEHICLE MARKET, BY COUNTRY, 2022–2027 (THOUSAND UNITS)
TABLE 203 NORTH AMERICA: ELECTRIC UTILITY VEHICLE MARKET, BY COUNTRY, 2018–2021 (USD MILLION)
TABLE 204 NORTH AMERICA: ELECTRIC UTILITY VEHICLE MARKET, BY COUNTRY, 2022–2027 (USD MILLION)
  12.4.1 US
    12.4.1.1 High demand for recreational activities and government push for electric propulsion
TABLE 205 US: ELECTRIC UTILITY VEHICLE MARKET, BY VEHICLE TYPE, 2018–2021 (UNITS)
TABLE 206 US: ELECTRIC UTILITY VEHICLE MARKET, BY VEHICLE TYPE, 2022–2027 (UNITS)
TABLE 207 US: ELECTRIC UTILITY VEHICLE MARKET, BY VEHICLE TYPE, 2018–2021 (USD MILLION)
TABLE 208 US: ELECTRIC UTILITY VEHICLE MARKET, BY VEHICLE TYPE, 2022–2027 (USD MILLION)
  12.4.2 CANADA
    12.4.2.1 Growing popularity of off-road racing events and export infrastructure
TABLE 209 CANADA: ELECTRIC UTILITY VEHICLE MARKET, BY VEHICLE TYPE, 2018–2021 (UNITS)
TABLE 210 CANADA: ELECTRIC UTILITY VEHICLE MARKET, BY VEHICLE TYPE, 2022–2027 (UNITS)
TABLE 211 CANADA: ELECTRIC UTILITY VEHICLE MARKET, BY VEHICLE TYPE, 2018–2021 (USD MILLION)
TABLE 212 CANADA: ELECTRIC UTILITY VEHICLE MARKET, BY VEHICLE TYPE, 2022–2027 (USD MILLION)
  12.4.3 MEXICO
    12.4.3.1 Strategic hub for electric utility vehicle manufacturers
TABLE 213 MEXICO: ELECTRIC UTILITY VEHICLE MARKET, BY VEHICLE TYPE, 2018–2021 (UNITS)
TABLE 214 MEXICO: ELECTRIC UTILITY VEHICLE MARKET, BY VEHICLE TYPE, 2022–2027 (UNITS)
TABLE 215 MEXICO: ELECTRIC UTILITY VEHICLE MARKET, BY VEHICLE TYPE, 2018–2021 (USD MILLION)
TABLE 216 MEXICO: ELECTRIC UTILITY VEHICLE MARKET, BY VEHICLE TYPE, 2022–2027 (USD MILLION)
12.5 REST OF THE WORLD (ROW)
FIGURE 56 REST OF THE WORLD: ELECTRIC UTILITY VEHICLE MARKET, BY COUNTRY, 2022–2027 (USD MILLION)
TABLE 217 REST OF THE WORLD: ELECTRIC UTILITY VEHICLE MARKET, BY COUNTRY, 2018–2021 (THOUSAND UNITS)
TABLE 218 REST OF THE WORLD: ELECTRIC UTILITY VEHICLE MARKET, BY COUNTRY, 2022–2027 (THOUSAND UNITS)
TABLE 219 REST OF THE WORLD: ELECTRIC UTILITY VEHICLE MARKET, BY COUNTRY, 2018–2021 (USD MILLION)
TABLE 220 REST OF THE WORLD: ELECTRIC UTILITY VEHICLE MARKET, BY COUNTRY, 2022–2027 (USD MILLION)
  12.5.1 BRAZIL
    12.5.1.1 Increasing penetration of utility vehicles in forest departments and shift to electric industrial vehicles
TABLE 221 BRAZIL: ELECTRIC UTILITY VEHICLE MARKET, BY VEHICLE TYPE, 2018–2021 (UNITS)
TABLE 222 BRAZIL: ELECTRIC UTILITY VEHICLE MARKET, BY VEHICLE TYPE, 2022–2027 (UNITS)
TABLE 223 BRAZIL: ELECTRIC UTILITY VEHICLE MARKET, BY VEHICLE TYPE, 2018–2021 (USD MILLION)
TABLE 224 BRAZIL: ELECTRIC UTILITY VEHICLE MARKET, BY VEHICLE TYPE, 2022–2027 (USD MILLION)
  12.5.2 SOUTH AFRICA
    12.5.2.1 Difficult terrain and expansion of warehouses
TABLE 225 SOUTH AFRICA: ELECTRIC UTILITY VEHICLE MARKET, BY VEHICLE TYPE, 2018–2021 (UNITS)
TABLE 226 SOUTH AFRICA: ELECTRIC UTILITY VEHICLE MARKET, BY VEHICLE TYPE, 2022–2027 (UNITS)
TABLE 227 SOUTH AFRICA: ELECTRIC UTILITY VEHICLE MARKET, BY VEHICLE TYPE, 2018–2021 (USD MILLION)
TABLE 228 SOUTH AFRICA: ELECTRIC UTILITY VEHICLE MARKET, BY VEHICLE TYPE, 2022–2027 (USD MILLION)

13 COMPETITIVE LANDSCAPE

13.1 OVERVIEW
13.2 MARKET RANKING ANALYSIS
FIGURE 57 MARKET RANKING OF MAJOR PLAYERS IN ELECTRIC UTILITY VEHICLE MARKET, 2021
13.3 COMPETITIVE SCENARIO
  13.3.1 DEALS, 2019–2022
TABLE 229 DEALS, 2019–2022
  13.3.2 NEW PRODUCT LAUNCHES, 2019–2022
TABLE 230 NEW PRODUCT LAUNCHES, 2019–2022
13.4 COMPANY EVALUATION QUADRANT: KEY PLAYERS
  13.4.1 STARS
  13.4.2 EMERGING LEADERS
  13.4.3 PERVASIVE PLAYERS
  13.4.4 PARTICIPANTS
FIGURE 58 ELECTRIC UTILITY VEHICLE MARKET: COMPANY EVALUATION QUADRANT, 2021
TABLE 231 ELECTRIC UTILITY VEHICLE MARKET: COMPANY FOOTPRINT, 2021
TABLE 232 ELECTRIC UTILITY VEHICLE MARKET: APPLICATION FOOTPRINT, 2021
TABLE 233 ELECTRIC UTILITY VEHICLE MARKET: REGIONAL FOOTPRINT, 2021
13.5 COMPETITIVE EVALUATION QUADRANT: OTHER KEY PLAYERS AND STARTUPS
  13.5.1 PROGRESSIVE COMPANIES
  13.5.2 RESPONSIVE COMPANIES
  13.5.3 DYNAMIC COMPANIES
  13.5.4 STARTING BLOCKS
FIGURE 59 ELECTRIC UTILITY VEHICLE MARKET: COMPETITIVE LEADERSHIP MAPPING OTHER KEY PLAYERS, 2021
FIGURE 60 ELECTRIC UTILITY VEHICLE MARKET: COMPETITIVE LEADERSHIP MAPPING KEY STARTUPS, 2021
TABLE 234 ELECTRIC UTILITY VEHICLE MARKET: DETAILED LIST OF KEY STARTUPS

14 COMPANY PROFILES

14.1 KEY PLAYERS
(Business Overview, Products Offered, Recent Developments, and MnM View)*
  14.1.1 POLARIS
TABLE 235 POLARIS: BUSINESS OVERVIEW
FIGURE 61 POLARIS: COMPANY SNAPSHOT
FIGURE 62 POLARIS: MARKET OPPORTUNITY
FIGURE 63 POLARIS: OFF-ROAD SEGMENT GROWTH RESULTS
TABLE 236 POLARIS: PRODUCTS OFFERED
TABLE 237 POLARIS: NEW PRODUCT DEVELOPMENTS
TABLE 238 POLARIS: DEALS
  14.1.2 CLUB CAR
TABLE 239 CLUB CAR: BUSINESS OVERVIEW
TABLE 240 CLUB CAR: PRODUCTS OFFERED
TABLE 241 CLUB CAR: NEW PRODUCT DEVELOPMENTS
TABLE 242 CLUB CAR: DEALS
  14.1.3 TOYOTA INDUSTRIES CORPORATION
TABLE 243 TOYOTA INDUSTRIES CORPORATION: BUSINESS OVERVIEW
FIGURE 64 TOYOTA INDUSTRIES CORPORATION: COMPANY SNAPSHOT
FIGURE 65 TOYOTA INDUSTRIES CORPORATION: SEGMENT-WISE GROWTH
TABLE 244 TOYOTA INDUSTRIES CORPORATION: PRODUCTS OFFERED
TABLE 245 TOYOTA INDUSTRIES CORPORATION: NEW PRODUCT DEVELOPMENTS
TABLE 246 TOYOTA INDUSTRIES CORPORATION: DEALS
  14.1.4 JOHN DEERE
TABLE 247 JOHN DEERE: BUSINESS OVERVIEW
FIGURE 66 JOHN DEERE: COMPANY SNAPSHOT
TABLE 248 JOHN DEERE: PRODUCTS OFFERED
TABLE 249 JOHN DEERE: NEW PRODUCT DEVELOPMENTS
TABLE 250 JOHN DEERE: DEALS
TABLE 251 JOHN DEERE: OTHERS
  14.1.5 TEXTRON
TABLE 252 TEXTRON: BUSINESS OVERVIEW
FIGURE 67 TEXTRON: COMPANY SNAPSHOT
FIGURE 68 TEXTRON: COMPARISON OF E-Z-GO WITH OTHER ELECTRIC GOLF CARTS
TABLE 253 TEXTRON: PRODUCTS OFFERED
TABLE 254 TEXTRON: NEW PRODUCT DEVELOPMENTS
TABLE 255 TEXTRON: OTHERS
  14.1.6 KION GROUP
TABLE 256 KION GROUP: BUSINESS OVERVIEW
FIGURE 69 KION GROUP: COMPANY SNAPSHOT
FIGURE 70 KION GROUP: INDUSTRY PERFORMANCE, 2021
TABLE 257 KION GROUP: PRODUCTS OFFERED
TABLE 258 KION GROUP: NEW PRODUCT DEVELOPMENTS
TABLE 259 KION GROUP: DEALS
  14.1.7 BYD
TABLE 260 BYD: BUSINESS OVERVIEW
FIGURE 71 BYD: COMPANY SNAPSHOT
FIGURE 72 BYD: RANGE OF ELECTRIC FORKLIFTS
TABLE 261 BYD: PRODUCTS OFFERED
TABLE 262 BYD: NEW PRODUCT DEVELOPMENTS
TABLE 263 BYD: DEALS
  14.1.8 ARI MOTORS
TABLE 264 ARI MOTORS: BUSINESS OVERVIEW
TABLE 265 ARI MOTORS: PRODUCTS OFFERED
TABLE 266 ARI MOTORS: NEW PRODUCT DEVELOPMENTS
TABLE 267 ARI MOTORS: DEALS
  14.1.9 WAEV
TABLE 268 WAEV: BUSINESS OVERVIEW
TABLE 269 WAEV: PRODUCTS OFFERED
TABLE 270 WAEV: NEW PRODUCT DEVELOPMENTS
TABLE 271 WAEV: DEALS
  14.1.10 COLUMBIA VEHICLE GROUP
TABLE 272 COLUMBIA VEHICLE GROUP: BUSINESS OVERVIEW
TABLE 273 COLUMBIA VEHICLE GROUP: PRODUCTS OFFERED
TABLE 274 COLUMBIA VEHICLE GROUP: NEW PRODUCT DEVELOPMENTS
TABLE 275 COLUMBIA VEHICLE GROUP: DEALS
  14.1.11 YAMAHA MOTOR COMPANY
TABLE 276 YAMAHA MOTOR COMPANY: BUSINESS OVERVIEW
FIGURE 73 YAMAHA MOTOR COMPANY: COMPANY SNAPSHOT
TABLE 277 YAMAHA MOTOR COMPANY: PRODUCTS OFFERED
TABLE 278 YAMAHA MOTOR COMPANY: NEW PRODUCT DEVELOPMENTS
  14.1.12 GODREJ MATERIAL HANDLING
TABLE 279 GODREJ MATERIAL HANDLING: BUSINESS OVERVIEW
TABLE 280 GODREJ MATERIAL HANDLING: PRODUCTS OFFERED
TABLE 281 GODREJ MATERIAL HANDLING: NEW PRODUCT DEVELOPMENTS
TABLE 282 GODREJ MATERIAL HANDLING: DEALS
  14.1.13 ADDAX MOTORS
TABLE 283 ADDAX MOTORS: BUSINESS OVERVIEW
TABLE 284 ADDAX MOTORS: PRODUCTS OFFERED
TABLE 285 ADDAX MOTORS: NEW PRODUCT DEVELOPMENTS
TABLE 286 ADDAX MOTORS: DEALS
  14.1.14 MARSHELL
TABLE 287 MARSHELL: BUSINESS OVERVIEW
TABLE 288 MARSHELL: PRODUCTS OFFERED
* Business Overview, Products Offered, Recent Developments, and MnM View might not be captured in case of unlisted companies.
14.2 OTHER KEY PLAYERS
  14.2.1 HISUN MOTORS
  14.2.2 EVUM MOTORS
  14.2.3 ALKE
  14.2.4 CFMOTO
  14.2.5 PILOTCARS ELECTRIC VEHICLES
  14.2.6 BALKANCAR RECORD
  14.2.7 DRR USA
  14.2.8 LINHAI
  14.2.9 NEBULA AUTOMOTIVE
  14.2.10 AMERICAN LANDMASTER
  14.2.11 ECO CHARGER
  14.2.12 EXCAR
  14.2.13 SUZHOU EAGLE ELECTRIC VEHICLE
  14.2.14 POWERLAND AGRO TRACTOR VEHICLES
  14.2.15 CROSSFIRE MOTORCYCLES
  14.2.16 VOLCON
  14.2.17 TESLA
  14.2.18 AUTO RENNEN INDIA
  14.2.19 SMARTCART
  14.2.20 EDGO CARTS

15 RECOMMENDATIONS BY MARKETSANDMARKETS

15.1 ELECTRIC UTILITY VEHICLES TO HAVE GREAT GROWTH POTENTIAL IN COMMERCIAL TRANSPORT SEGMENT
15.2 NORTH AMERICA TO BE KEY FOCUS AREA FOR ELECTRIC UTILITY VEHICLE MARKET
15.3 CONCLUSION

16 APPENDIX

16.1 KEY INSIGHTS FROM INDUSTRY EXPERTS
16.2 DISCUSSION GUIDE
16.3 KNOWLEDGESTORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL
16.4 CUSTOMIZATION OPTIONS
16.5 RELATED REPORTS
16.6 AUTHOR DETAILS


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