Europe Commercial Turf Utility Vehicle Market, By Propulsion Type (Electric, Gasoline and Diesel), Power Output (> 8 KW and 8 KW–15 KW), Subscription (New Purchase and Rental), Seating Capacity (2 Seater, More Than 2 Seater), Turf Type (Natural Grass, Artificial), Towing Capacity (Less than 680 Kg, More than 680 Kg), Application (Golf Courses, Hotel & Resorts, Airports, Colleges and Universities, Zoos, Others), Country (Germany, U.K, France, Italy, Russia, Spain, Belgium, Netherland, Turkey, Switzerland, Rest of Europe) Industry Trends and Forecast to 2027
Commercial turf utility vehicle market is expected to gain market growth in the forecast period of 2020 to 2027. Data Bridge Market Research analyses that the market is growing with a CAGR of 7.6% in the forecast period of 2020 to 2027 and expected to reach USD 1,476.27 million by 2027. The growing investment in the sport games is major factor driving the market.
The commercial turf utility vehicle is a vehicle, generally motorized, that is designed to carry out a specific task and they are low speed vehicles. Commercial turf utility vehicles are utilized in turf administration applications such as play areas, hotels & resorts, tourism, college campuses and gated communities). The end-users of commercial turf utility vehicles incorporate sports grounds, such as cricket, football, rugby, polo, hockey and others.
The major factors driving the growth of the market are stringent government rules and regulations toward vehicle emission and increasing electric vehicle charging infrastructure rising geriatric population to drive demand for utility vehicles. While the lack of safety standards/equipment act as a major restraint for the commercial turf utility vehicle market.
This commercial turf utility vehicle market report provides details of market share, new developments, and product pipeline analysis, impact of domestic and localised market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, product approvals, strategic decisions, product launches, geographic expansions, and technological innovations in the market. To understand the analysis and the market scenario contact us for an Analyst Brief, our team will help you create a revenue impact solution to achieve your desired goal.
Commercial turf utility vehicle market is segmented on the basis of propulsion type, power output, application, subscription, seating capacity, turf type and towing capacity. The growth among segments helps you analyse niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.
- On the basis of propulsion type, the commercial turf utility vehicle market has been segmented into electric, gasoline and diesel. Electric accounted largest market share as the growing demand of fuel efficient and zero carbon emission vehicles has increase demand for the electric vehicles.
- On the basis of power output, the commercial turf utility vehicle market has been segmented into > 8 KW and 8 KW–15 KW. In 2020, 8 KW-15 KW segment is expected to dominate the market due to the growing demand of low speed utility vehicles with high power.
- On the basis of seating capacity, the commercial turf utility vehicle market has been segmented into 2 seater and more than 2 seater. In 2020, 2 seater is expected to dominate the market and accounted largest market share as it has been widely used in the various application sector.
- On the basis of turf type, the commercial turf utility vehicle market has been segmented into artificial and natural grass. In 2020, natural grass accounted largest market as the growing investment in the golf carts games.
- On the basis of subscription, the commercial turf utility vehicle market has been segmented into new purchase and rental. In 2020, new purchase accounted largest market share as it require less maintenance cost and provide long services life.
- On the basis of application, the commercial turf utility vehicle market has been segmented into golf courses, hotel & resorts, airports, colleges and universities, zoos and others. In 2020, golf course accounted largest market share due to the rising government investment in the sport events has result in increasing demand for utility vehicles.
- On the basis of towing capacity, the commercial turf utility vehicle market has been segmented into less than 680 kg and more than 680 kg. In 2020, less than 680 kg accounted the largest market share due to growing usage of utility vehicle in the golf course and airports for carrying the luggage.
Europe Commercial Turf Utility Vehicle Market Country Level Analysis
Commercial turf utility vehicle market is analysed and market size information is provided by country, propulsion type, power output, application, subscription, seating capacity, turf type and towing capacity as referenced above.
The countries covered in commercial turf utility vehicle market report are Germany, U.K, France, Italy, Russia, Spain, Belgium, Netherland, Turkey, Switzerland, and Rest of Europe.
Germany holds the largest market share in Europe due to the growing demand of environmental friendly vehicle which has increased the demand for the low speed electric vehicle.
The country section of the commercial turf utility vehicle market report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as new sales, replacement sales, country demographics, regulatory acts and import-export tariffs are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of Europe brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of sales channels are considered while providing forecast analysis of the country data.
Government Regulations and Emission Standards
Europe commercial turf utility vehicle market also provides you with detailed market analysis for every country growth in industry with sales, components sales, impact of technological development in commercial turf utility vehicle market and changes in regulatory scenarios with their support for the commercial turf utility vehicle market. The data is available for historic period 2010 to 2018.
Competitive Landscape and Commercial Turf Utility Vehicle Market Share Analysis
Commercial turf utility vehicle market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, European presence, production sites and facilities, company strengths and weaknesses, product launch, product trials pipelines, product approvals, patents, product width and breadth, application dominance, technology lifeline curve. The above data points provided are only related to the companies’ focus related to commercial turf utility vehicle market.
The major players covered in the report are Guangdong Lvtong New Energy Electric Vehicle Technology Co., LTD., Textron Inc, Deere & Company, The Toro Company, Yamaha Motor Co., Ltd and KUBOTA Corporation among other domestic players. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
Many product developments are also initiated by the companies worldwide which are also accelerating the growth of commercial turf utility vehicle market.
- In September 2020, Deere & Company acquired Unimil, the Brazilian aftermarket service parts business, which was founded in 1999 and has 430 employees approximately. This acquisition helps the company striking the advancement of trade, reshaping the working model, and revolutionizing generation frameworks in farming.
- In August 2018, KUBOTA Corporation launched RTV-XG850 Sidekick features a 48-horsepower gasoline engine that travels at speeds up to 40 mph, as compared to the top speed of 29 mph for Kubota’s RTV-X series model. The Sidekick also comes with a continuously variable transmission with centrifugal clutch, the Sidekick’s rugged, water-cooled engine that provides torque for a quick, smooth start. This product launch helped the company to get a competitive advantage in the market.
Partnership, joint ventures and other strategies enhances the company market share with increased coverage and presence. It also provides the benefit for organisation to improve their offering for commercial turf utility vehicle.
Customization Available : Europe Commercial Turf Utility Vehicle Market
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