U.S. Low Speed Vehicle Market is expected to grow with the CAGR of 6.4% in the forecast period of 2021 to 2028. The years considered for study are as mentioned below.
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U.S. low speed vehicle market is a highly consolidated market, which includes number of key players as well as local players. The market has witnessed increased strategic developments owing to favourable market scenario.
The major players dealing in U.S. low speed vehicle market are introducing strong range of product portfolio. This helped companies to maximize the sales with enhanced product portfolio. For instance,
- In January 2019, Yamaha Motor Co., Ltd. launched UMAX RALLY 2+2 light utility vehicles. The new vehicle offers a convertible rear seat, lifted suspension, powder-coat finish on the cargo side, front brush guard and wide fender flares and a textured floor. The new vehicle increased the product portfolio of the company.
Textron Inc. is the dominating player in the U.S. low speed vehicle market. The other key players existing in the market includes Yamaha Motor Co., Ltd., Polaris Inc., KUBOTA Corporation, American LandMaster, Ingersoll Rand, Columbia Vehicle Group Inc., Deere & Company, The Toro Company and Moto Electric Vehicles among others.
Textron Inc.
Textron Inc. is headquartered in Rhode Island, U.S and was founded in year 1923. The company provides products and services for various industry verticals such as aircraft, defense, industrial and financial business. The company operates in Textron Aviation, Bell, Textron Systems, Industrial, Finance out of which Industrial is market focused segment. The company offers wide range of solution categories such as Textron Aviation, Bell, Textron Systems, Industrial, Finance in which Industrial is market focused category. For instance,
- In January 2019, Textron Inc. announced the launch of Hauler 800 ELiTE electric utility vehicle. The new vehicle came in with Samsung SDI lithium technology and offered zero-maintenance batteries with high energy efficiency. The new product expanded the ELiTE series of the company.
The company has wide global presence across Europe, Asia-Pacific, North America, South America, Middle East & Africa and generates revenue from subsidiaries such as Arctic Cat (U.S), Cessna (U.S), Textron Aviation (U.S), Bell Textron (U.S) and Cushman (U.S) among others.
Deere & Company
Deere & Company is headquartered in Illinois, U.S. was founded in 1837. The company specializes in providing advanced technology, products and services for agriculture and construction industries. The company operates in Agriculture and Turf, Construction and Forestry, Financial Services segments out of which Agriculture and Turf is market focused segment. The company offers product categories which are Equipment, Finance, and Parts & Service out of which Equipment is market focused category. For instance,
- In September 2020, Deere & Company launched of new upgraded Gator Utility Vehicle for the year 2021. The Updated John Deere Gator utility vehicle offers refined power steering, easier gear shifting, enhanced digital displays, and improved transmission controls. The new vehicle will increase the product portfolio of the company.
The company has wide global presence across Europe, Asia-Pacific, North America, South America, Middle East & Africa and generates revenue from subsidiaries such as John Deere Financial Services, Inc. (U.S), A and I Products, Inc (Canada), Blue River Technology Inc(U.S), Nortrax (U.S) and The Vapormatic Company (U.K.) among others.
The Toro Company
The Toro Company headquartered in Minnesota, U.S was founded in 1914. The company provides solutions for the outdoor environment which includes turf and landscape maintenance, rental and specialty construction, underground utility construction, snow and ice management, irrigation and outdoor lighting solutions. The company operates in Professional, Residential out of which Professional is market focused segment. The company provides Toro, Ditch Witch, Exmark, BOSS, American Augers, Ventrac, Subsite Electronics, HammerHead, Trencor, Unique Lighting Systems, Irritrol, Hayter, Pope, Lawn-Boy, Radius out of which Toro is market focused product category. For instance,
- In June 2016, The Toro Company announced the launch of the Toro Workman GTX Utility Vehicle. The new vehicle offers easier steering through a pinion steering system and more control through an automotive-grade rack. The new vehicle is available in petrol and electric model and is composed of a frame with a width of 119 cm (47”). The new product increased the product portfolio of the company.
The company has presence across the globe in Europe, North America, Asia, Latin America and Middle East & Africa. In addition to it, the company also generates its revenue from the various subsidiary companies such as itch Witch (U.S.), Hayter (U.K.), Exmark Manufacturing Company Incorporated (U.S.), MTI Distributing Inc (U.S.), Toro France (France) among others.
