Steady Growth Expected in UTV Market Among North American Youth
The youth ATV & UTV segments of the North American market accounted for more than 80 percent volume share in 2017. The market is set to grow 6 percent by 2024 to reach $383 million, according to a new research report by Global Market Insights Inc.
The ability to travel through any terrain, along with the compact footprint, easier parking and towing facilities will further strengthen the segment dominance over the forecast timeframe, according to the report. Increasing preference of youth opting for adventure off-roading events- including participation in several ATV and UTV races-is partially owed to the availability of diversified models at a varied price range. Increasing recreational spending along with the rising number of off-roading events are driving the North America youth ATV & UTV market share over the forecast timeframe, according got Global Market Insights.
Click to visit the Global Market Insigts website to request a sample of its ATV & UTV segments report.