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 and Resorts, Airports, Colleges and Universities, Zoos, Others) – Industry Trends and Forecast to 2030.
Europe Commercial Turf Utility Vehicle Market Analysis and Size
The increasing awareness about the benefits of using commercial turf utility vehicle as an eco-friendly transportation option among people represents one of the major factor which is positively influencing the market growth. Furthermore, there is an increasing adoption of 3D printing technology for vehicle customization. The expanding automobile industry worldwide is likely to strengthen the growth of the commercial Turf Utility Vehicle market during the forecast period.
Data Bridge Market Research analyses that the commercial turf utility vehicle market is expected to reach USD 1,864.82 million by 2030, which is USD 1,000.07 million in 2022, at a CAGR of 8.10% during the forecast period. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and pestle analysis.
Europe Commercial Turf Utility Vehicle Market Scope and Segmentation
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Report Metric
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Details
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Forecast Period
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2023 to 2030
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Base Year
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2022
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Historic Years
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2021 (Customizable to 2015- 2020)
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Quantitative Units
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Revenue in USD million, Volumes in Units, Pricing in USD
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Segments Covered
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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 and Resorts, Airports, Colleges and Universities, Zoos, Others)
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Countries Covered
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Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe
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Market Players Covered
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KUBOTA Corporation (Japan), Columbia Vehicle Group Inc. (U.S.), SpeedwaysElectric (India), HDK ELECTRIC VEHICLE (U.S.), Marshell Green Power (China), Star EV Corporation (U.S.), Tropos Motors (U.S.), American Landmaster (U.S.), Garia A/S (Denmark), Ingersoll Rand (U.S.), Bintelli Electric Vehicles (U.S.), Guangdong Lvtong New Energy Electric Vehicle Technology Co., LTD. (China), Moto electric vehicles (U.S.), Textron Inc. (U.S.), Deere & Company (U.S.), Suzhou Eagle Electric Vehicle Manufacturing Co., Ltd (China), The Toro Company (U.S.), Polaris Inc. (U.S.), Yamaha Motor Co., Ltd. (Japan), among others
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Market Opportunities
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Market Definition
Commercial turf utility vehicles provide high-torque diesel engines, a wide wheel stance, a low center of gravity and best-in-class cargo boxes. Commercial turf utility vehicles are which 4-wheeled vehicles with a maximum speed of 40 km/h (25 mph). These vehicles are highly used as neighbourhood vehicles and golf carts in many areas such as golf courses, museums, corporate offices and industrial areas.
Europe Commercial Turf Utility Vehicle Market Dynamics
Drivers
- Increasing usage of commercial turf utility vehicles in hotels and resort
Resorts and hotels are highly using commercial turf utility vehicles to provide service to their guests; this factor is expected to increase the demand for commercial turf utility vehicles. These vehicles can be extremely helpful for short but frequent journeys within tourist facilities and make it possible to transfer from both the equipment and the guests with their luggage from one point to another.
- Rising demand for commercial turf utility vehicles by airport authorities
An increase in traveling all around the globe has increased the usage of -speed vehicles such as commercial turf utility vehicles by airport authorities for passengers and carrying luggage. Therefore, the rising demand of commercial turf utility vehicle by airport authorities is expected to drive the growth of the market during the forecast period.
Opportunities
- Increasing demand for commercial turf utility vehicle due to low noise and zero carbon emission
The demand for the commercial turf utility vehicle increases because of lower emission of gases and less noise than normal vehicles. These vehicles are most preferred by golf courses, airport authorities, and industry warehouses which support them to use of eco-friendly vehicles. Commercial turf utility vehicles are adopted by luxury tourism because they produce less carbon emission and noise than other vehicles. Thus, increasing demand of commercial turf utility vehicle due to zero carbon emission and low noise period will be expected to create ample market growth opportunities.
- Growing products launches by major market players to get competitive advantage in the market
The increasing number of product launches by major market players to get a competitive advantage will provide ample growth opportunities for the market growth. For instance, KUBOTA Corporation launched RTV-XG850 Sidekick In August 2018, which travels up to 40 mph speed, compared to top speed of 29 mph for Kubota’s RTV-X series model. The Sidekick comes with a constant variable transmission with a centrifugal clutch. This product launch aided the company in getting a competitive advantage in the commercial turf utility vehicle market.
Restraints/ Challenges
- Increasing regulation associated with off-highway emissions
One major challenge facing the industry in the last few years will be regulations for off-highway emissions. As these regulations begin to impact equipment on golf courses, parks and campuses. This may decrease the number of prime movers for commercial turf utility vehicles at recreational and institutional facilities.
- Lack of safety in commercial turf utility vehicle
Commercial turf utility vehicles are not safe as compared to other vehicles. The safety issues such as braking in golf cars becomes a major challenge because most of these vehicles have only rear wheel breaking system which may cause loss of control during breaking the vehicle. Hence it becomes one of the major factor which challenges the market growth.
This commercial turf utility vehicle market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the commercial turf utility vehicle market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Recent Development
- In 2020, Deere and Company acquired Unimil, the Brazilian aftermarket service parts business with 430 employees approximately. This acquisition aids the company to increase the advancement of trade, revolutionizing generation frameworks and reshaping the working model in farming.
- In 2020, Club Car launched Versatile Utility Vehicle Carryall 502. The advantages of this versatile utility vehicle carryall 502 are it upsurges visibility due to the lower dashboard and widescreen. This launch helped the Club Car company to strengthen its product category.
Commercial Turf Utility Vehicle Market Scope
The 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 amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Propulsion Type
- Electric
- Gasoline
- Diesel
Power Output
- 8 Kw
- 8 Kw–15 Kw
Seating Capacity
- 2 Seater
- More Than 2 Seater
Turf Type
- Natural Grass
- Artificial
- Subscription
- New Purchase
- Rental
Application
- Golf Courses
- Hotel and Resorts
- Airports
- Colleges and Universities
- Zoos
- Others
Towing Capacity
- Less Than 680 Kg
- More Than 680 Kg
Commercial Turf Utility Vehicle Market Regional Analysis/Insights
The commercial turf utility vehicle market is analysed and market size insights and trends are provided by country, propulsion type, power output, application, subscription, seating capacity, turf type and towing capacity as referenced above.
The countries covered in the commercial turf utility vehicle market report are Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe.
Germany dominates the commercial turf utility vehicle market owing to the increasing demand of environmental friendly vehicle in this region. Furthermore, the increasing elderly population will further boost the growth of the market in the region.
The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Commercial Turf Utility Vehicle Market Share Analysis
The 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, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to commercial turf utility vehicle market.
Some of the major players operating in the commercial turf utility vehicle market are:
- KUBOTA Corporation (Japan)
- Columbia Vehicle Group Inc. (U.S.)
- SpeedwaysElectric (India)
- HDK ELECTRIC VEHICLE (U.S.)
- Marshell Green Power (China)
- STAR EV CORPORATION (U.S.)
- Tropos Motors (U.S.)
- American Landmaster (U.S.)
- Garia A/S (Denmark)
- Ingersoll Rand (U.S.)
- Bintelli Electric Vehicles (U.S.)
- Guangdong Lvtong New Energy Electric Vehicle Technology Co., LTD. (China)
- Moto electric vehicles (U.S.)
- Textron Inc. (U.S.),
- Deere & Company (U.S.)
- Suzhou Eagle Electric Vehicle Manufacturing Co., Ltd (China)
- The Toro Company (U.S.)
- Polaris Inc. (U.S.)
- Yamaha Motor Co., Ltd. (Japan)
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