Electric Utility Vehicle Market Report: Trends, Forecast and Competitive Analysis to 2030
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Electric Utility Vehicle Trends and Forecast
The future of the global electric utility vehicle market looks promising with opportunities in the commercial transport, recreation, agriculture, and industrial applications. The global electric utility vehicle market is expected to reach an estimated $27.6 billion by 2030 with a CAGR of 4.5% from 2024 to 2030. The major drivers for this market are growing demand for zero-emission vehicles, increasing availability of charging infrastructure, and rising demand for battery based material handling vehicles.
A more than 150-page report is developed to help in your business decisions. Sample figures with some insights are shown below.
Electric Utility Vehicle by Segment
The study includes a forecast for the global electric utility vehicle by battery type, drive type, propulsion, application, and region.
Electric Utility Vehicle Market by Battery Type [Shipment Analysis by Value from 2018 to 2030]:
Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies electric utility vehicle companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the electric utility vehicle companies profiled in this report include-
Lucintel forecasts that lithium-ion will remain the largest segment due to its significant application in electric vehicles given to its increased effectiveness, lightweight design, quicker charging timelines, and improved battery capacity.
Commercial transport will remain the largest segment due to significant usage of electric vehicles for various commercial municipal work, logistics sector, garbage collection, and postal services.
North America will remain the largest region due to growing demand for electric utility terrain vehicles, rising use of electric vehicle for various recreation activities, such as hunting, camping, and forest rides, and presence of key players in the region.
Features of the Global Electric Utility Vehicle Market
Market Size Estimates: Electric utility vehicle market size estimation in terms of value ($B).
Trend and Forecast Analysis: Market trends (2018 to 2023) and forecast (2024 to 2030) by various segments and regions.
Segmentation Analysis: Electric utility vehicle market by various segments, such as by battery type, drive type, propulsion, application and region in terms of($B).
Regional Analysis: Electric utility vehicle market breakdown by North America, Europe, Asia Pacific, and Rest of the World.
Growth Opportunities: Analysis of growth opportunities in different battery types, drive types, propulsions, applications, and regions for the electric utility vehicle market.
Strategic Analysis: This includes M&A, new product development, and competitive landscape of the electric utility vehicle market.
Analysis of competitive intensity of the industry based on Porter’s Five Forces model.
FAQ
Q.1 What is the electric utility vehicle market size?
Answer: The global electric utility vehicle market is expected to reach an estimated $27.6 billion by 2030.
Q.2 What is the growth forecast for electric utility vehicle market?
Answer: The global electric utility vehicle market is expected to grow with a CAGR of 4.5% from 2024 to 2030.
Q.3 What are the major drivers influencing the growth of the electric utility vehicle market?
Answer: The major drivers for this market are growing demand for zero-emission vehicles, increasing availability of charging infrastructure, and rising demand for battery based material handling vehicles.
Q4. What are the major segments for electric utility vehicle market?
Answer: The future of the electric utility vehicle market looks promising with opportunities in the commercial transport, recreation, agriculture, and industrial applications.
Q5. Who are the key electric utility vehicle market companies?
Answer: Some of the key electric utility vehicle companies are as follows:
Answer: Lucintel forecasts that lithium-ion will remain the largest segment due to its significant application in electric vehicles given to its increased effectiveness, lightweight design, quicker charging timelines, and improved battery capacity.
Q7. In electric utility vehicle market, which region is expected to be the largest in next 5 years?
Answer: North America will remain the largest region due to growing demand for electric utility terrain vehicles, rising use of electric vehicle for various recreation activities, such as hunting, camping, and forest rides, and presence of key players in the region.
Q.8 Do we receive customization in this report?
Answer: Yes, Lucintel provides 10% customization without any additional cost.
This report answers following 11 key questions:
Q.1. What are some of the most promising, high-growth opportunities for the electric utility vehicle market by battery type (lead acid, lithium-ion, and others), drive type (2WD, 4WD, and AWD), propulsion (pure electric and hybrid electric), application (commercial transport, recreation, agriculture, industrial, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
Q.2. Which segments will grow at a faster pace and why?
Q.3. Which region will grow at a faster pace and why?
Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
Q.5. What are the business risks and competitive threats in this market?
Q.6. What are the emerging trends in this market and the reasons behind them?
Q.7. What are some of the changing demands of customers in the market?
Q.8. What are the new developments in the market? Which companies are leading these developments?
Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
Q.11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?
For any questions related to Electric Utility Vehicle Market, Electric Utility Vehicle Market Size, Electric Utility Vehicle Market Growth, Electric Utility Vehicle Market Analysis, Electric Utility Vehicle Market Report, Electric Utility Vehicle Market Share, Electric Utility Vehicle Market Trends, Electric Utility Vehicle Market Forecast, Electric Utility Vehicle Companies, write Lucintel analyst at email: [email protected]. We will be glad to get back to you soon.
Electric Utility Vehicle Trends and Forecast
The future of the global electric utility vehicle market looks promising with opportunities in the commercial transport, recreation, agriculture, and industrial applications. The global electric utility vehicle market is expected to reach an estimated $27.6 billion by 2030 with a CAGR of 4.5% from 2024 to 2030. The major drivers for this market are growing demand for zero-emission vehicles, increasing availability of charging infrastructure, and rising demand for battery based material handling vehicles.
A more than 150-page report is developed to help in your business decisions. Sample figures with some insights are shown below.
Electric Utility Vehicle by Segment
The study includes a forecast for the global electric utility vehicle by battery type, drive type, propulsion, application, and region.
Electric Utility Vehicle Market by Battery Type [Shipment Analysis by Value from 2018 to 2030]:
- Lead Acid
- Lithium-Ion
- Others
- 2WD
- 4WD
- AWD
- Pure Electric
- Hybrid Electric
- Commercial Transport
- Recreation
- Agriculture
- Industrial
- Others
- North America
- Europe
- Asia Pacific
- The Rest of the World
Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies electric utility vehicle companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the electric utility vehicle companies profiled in this report include-
- Polaris
- Club Car
- Toyota Industries
- John Deere
- Textron
Lucintel forecasts that lithium-ion will remain the largest segment due to its significant application in electric vehicles given to its increased effectiveness, lightweight design, quicker charging timelines, and improved battery capacity.
Commercial transport will remain the largest segment due to significant usage of electric vehicles for various commercial municipal work, logistics sector, garbage collection, and postal services.
North America will remain the largest region due to growing demand for electric utility terrain vehicles, rising use of electric vehicle for various recreation activities, such as hunting, camping, and forest rides, and presence of key players in the region.
Features of the Global Electric Utility Vehicle Market
Market Size Estimates: Electric utility vehicle market size estimation in terms of value ($B).
Trend and Forecast Analysis: Market trends (2018 to 2023) and forecast (2024 to 2030) by various segments and regions.
Segmentation Analysis: Electric utility vehicle market by various segments, such as by battery type, drive type, propulsion, application and region in terms of($B).
Regional Analysis: Electric utility vehicle market breakdown by North America, Europe, Asia Pacific, and Rest of the World.
Growth Opportunities: Analysis of growth opportunities in different battery types, drive types, propulsions, applications, and regions for the electric utility vehicle market.
Strategic Analysis: This includes M&A, new product development, and competitive landscape of the electric utility vehicle market.
Analysis of competitive intensity of the industry based on Porter’s Five Forces model.
FAQ
Q.1 What is the electric utility vehicle market size?
Answer: The global electric utility vehicle market is expected to reach an estimated $27.6 billion by 2030.
Q.2 What is the growth forecast for electric utility vehicle market?
Answer: The global electric utility vehicle market is expected to grow with a CAGR of 4.5% from 2024 to 2030.
Q.3 What are the major drivers influencing the growth of the electric utility vehicle market?
Answer: The major drivers for this market are growing demand for zero-emission vehicles, increasing availability of charging infrastructure, and rising demand for battery based material handling vehicles.
Q4. What are the major segments for electric utility vehicle market?
Answer: The future of the electric utility vehicle market looks promising with opportunities in the commercial transport, recreation, agriculture, and industrial applications.
Q5. Who are the key electric utility vehicle market companies?
Answer: Some of the key electric utility vehicle companies are as follows:
- Polaris
- Club Car
- Toyota Industries
- John Deere
- Textron
Answer: Lucintel forecasts that lithium-ion will remain the largest segment due to its significant application in electric vehicles given to its increased effectiveness, lightweight design, quicker charging timelines, and improved battery capacity.
Q7. In electric utility vehicle market, which region is expected to be the largest in next 5 years?
Answer: North America will remain the largest region due to growing demand for electric utility terrain vehicles, rising use of electric vehicle for various recreation activities, such as hunting, camping, and forest rides, and presence of key players in the region.
Q.8 Do we receive customization in this report?
Answer: Yes, Lucintel provides 10% customization without any additional cost.
This report answers following 11 key questions:
Q.1. What are some of the most promising, high-growth opportunities for the electric utility vehicle market by battery type (lead acid, lithium-ion, and others), drive type (2WD, 4WD, and AWD), propulsion (pure electric and hybrid electric), application (commercial transport, recreation, agriculture, industrial, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
Q.2. Which segments will grow at a faster pace and why?
Q.3. Which region will grow at a faster pace and why?
Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
Q.5. What are the business risks and competitive threats in this market?
Q.6. What are the emerging trends in this market and the reasons behind them?
Q.7. What are some of the changing demands of customers in the market?
Q.8. What are the new developments in the market? Which companies are leading these developments?
Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
Q.11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?
For any questions related to Electric Utility Vehicle Market, Electric Utility Vehicle Market Size, Electric Utility Vehicle Market Growth, Electric Utility Vehicle Market Analysis, Electric Utility Vehicle Market Report, Electric Utility Vehicle Market Share, Electric Utility Vehicle Market Trends, Electric Utility Vehicle Market Forecast, Electric Utility Vehicle Companies, write Lucintel analyst at email: [email protected]. We will be glad to get back to you soon.
1. EXECUTIVE SUMMARY
2. GLOBAL ELECTRIC UTILITY VEHICLE MARKET: MARKET DYNAMICS
2.1: Introduction, Background, and Classifications
2.2: Supply Chain
2.3: Industry Drivers and Challenges
3. MARKET TRENDS AND FORECAST ANALYSIS FROM 2018 TO 2030
3.1. Macroeconomic Trends (2018-2023) and Forecast (2024-2030)
3.2. Global Electric Utility Vehicle Market Trends (2018-2023) and Forecast (2024-2030)
3.3: Global Electric Utility Vehicle Market by Battery Type
3.3.1: Lead Acid
3.3.2: Lithium-Ion
3.3.3: Others
3.4: Global Electric Utility Vehicle Market by Drive Type
3.4.1: 2WD
3.4.2: 4WD
3.4.3: AWD
3.5: Global Electric Utility Vehicle Market by Propulsion
3.5.1: Pure Electric
3.5.2: Hybrid Electric
3.6: Global Electric Utility Vehicle Market by Application
3.6.1: Commercial Transport
3.6.2: Recreation
3.6.3: Agriculture
3.6.4: Industrial
3.6.5: Others
4. MARKET TRENDS AND FORECAST ANALYSIS BY REGION FROM 2018 TO 2030
4.1: Global Electric Utility Vehicle Market by Region
4.2: North American Electric Utility Vehicle Market
4.2.2: North American Electric Utility Vehicle Market by Application: Commercial Transport, Recreation, Agriculture, Industrial, and Others
4.3: European Electric Utility Vehicle Market
4.3.1: European Electric Utility Vehicle Market by Battery Type: Lead Acid, Lithium-Ion, and Others
4.3.2: European Electric Utility Vehicle Market by Application: Commercial Transport, Recreation, Agriculture, Industrial, and Others
4.4: APAC Electric Utility Vehicle Market
4.4.1: APAC Electric Utility Vehicle Market by Battery Type: Lead Acid, Lithium-Ion, and Others
4.4.2: APAC Electric Utility Vehicle Market by Application: Commercial Transport, Recreation, Agriculture, Industrial, and Others
4.5: ROW Electric Utility Vehicle Market
4.5.1: ROW Electric Utility Vehicle Market by Battery Type: Lead Acid, Lithium-Ion, and Others
4.5.2: ROW Electric Utility Vehicle Market by Application: Commercial Transport, Recreation, Agriculture, Industrial, and Others
5. COMPETITOR ANALYSIS
5.1: Product Portfolio Analysis
5.2: Operational Integration
5.3: Porter’s Five Forces Analysis
6. GROWTH OPPORTUNITIES AND STRATEGIC ANALYSIS
6.1: Growth Opportunity Analysis
6.1.1: Growth Opportunities for the Global Electric Utility Vehicle Market by Battery Type
6.1.2: Growth Opportunities for the Global Electric Utility Vehicle Market by Drive Type
6.1.3: Growth Opportunities for the Global Electric Utility Vehicle Market by Propulsion
6.1.4: Growth Opportunities for the Global Electric Utility Vehicle Market by Application
6.1.5: Growth Opportunities for the Global Electric Utility Vehicle Market by Region
6.2: Emerging Trends in the Global Electric Utility Vehicle Market
6.3: Strategic Analysis
6.3.1: New Product Development
6.3.2: Capacity Expansion of the Global Electric Utility Vehicle Market
6.3.3: Mergers, Acquisitions, and Joint Ventures in the Global Electric Utility Vehicle Market
6.3.4: Certification and Licensing
7. COMPANY PROFILES OF LEADING PLAYERS
7.1: Polaris
7.2: Club Car
7.3: Toyota Industries
7.4: John Deere
7.5: Textron
2. GLOBAL ELECTRIC UTILITY VEHICLE MARKET: MARKET DYNAMICS
2.1: Introduction, Background, and Classifications
2.2: Supply Chain
2.3: Industry Drivers and Challenges
3. MARKET TRENDS AND FORECAST ANALYSIS FROM 2018 TO 2030
3.1. Macroeconomic Trends (2018-2023) and Forecast (2024-2030)
3.2. Global Electric Utility Vehicle Market Trends (2018-2023) and Forecast (2024-2030)
3.3: Global Electric Utility Vehicle Market by Battery Type
3.3.1: Lead Acid
3.3.2: Lithium-Ion
3.3.3: Others
3.4: Global Electric Utility Vehicle Market by Drive Type
3.4.1: 2WD
3.4.2: 4WD
3.4.3: AWD
3.5: Global Electric Utility Vehicle Market by Propulsion
3.5.1: Pure Electric
3.5.2: Hybrid Electric
3.6: Global Electric Utility Vehicle Market by Application
3.6.1: Commercial Transport
3.6.2: Recreation
3.6.3: Agriculture
3.6.4: Industrial
3.6.5: Others
4. MARKET TRENDS AND FORECAST ANALYSIS BY REGION FROM 2018 TO 2030
4.1: Global Electric Utility Vehicle Market by Region
4.2: North American Electric Utility Vehicle Market
4.2.2: North American Electric Utility Vehicle Market by Application: Commercial Transport, Recreation, Agriculture, Industrial, and Others
4.3: European Electric Utility Vehicle Market
4.3.1: European Electric Utility Vehicle Market by Battery Type: Lead Acid, Lithium-Ion, and Others
4.3.2: European Electric Utility Vehicle Market by Application: Commercial Transport, Recreation, Agriculture, Industrial, and Others
4.4: APAC Electric Utility Vehicle Market
4.4.1: APAC Electric Utility Vehicle Market by Battery Type: Lead Acid, Lithium-Ion, and Others
4.4.2: APAC Electric Utility Vehicle Market by Application: Commercial Transport, Recreation, Agriculture, Industrial, and Others
4.5: ROW Electric Utility Vehicle Market
4.5.1: ROW Electric Utility Vehicle Market by Battery Type: Lead Acid, Lithium-Ion, and Others
4.5.2: ROW Electric Utility Vehicle Market by Application: Commercial Transport, Recreation, Agriculture, Industrial, and Others
5. COMPETITOR ANALYSIS
5.1: Product Portfolio Analysis
5.2: Operational Integration
5.3: Porter’s Five Forces Analysis
6. GROWTH OPPORTUNITIES AND STRATEGIC ANALYSIS
6.1: Growth Opportunity Analysis
6.1.1: Growth Opportunities for the Global Electric Utility Vehicle Market by Battery Type
6.1.2: Growth Opportunities for the Global Electric Utility Vehicle Market by Drive Type
6.1.3: Growth Opportunities for the Global Electric Utility Vehicle Market by Propulsion
6.1.4: Growth Opportunities for the Global Electric Utility Vehicle Market by Application
6.1.5: Growth Opportunities for the Global Electric Utility Vehicle Market by Region
6.2: Emerging Trends in the Global Electric Utility Vehicle Market
6.3: Strategic Analysis
6.3.1: New Product Development
6.3.2: Capacity Expansion of the Global Electric Utility Vehicle Market
6.3.3: Mergers, Acquisitions, and Joint Ventures in the Global Electric Utility Vehicle Market
6.3.4: Certification and Licensing
7. COMPANY PROFILES OF LEADING PLAYERS
7.1: Polaris
7.2: Club Car
7.3: Toyota Industries
7.4: John Deere
7.5: Textron
