North America 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.
North America Commercial Turf Utility Vehicle Market Analysis and Size
Management teams and customers rely on the durability and dependability of the commercial turf utility vehicle. Whether the consumer supervises maintenance or traverses around the golf course during daily rounds, Commercial turf utility vehicles set the standard for reliable and world-class transportation. Commercial turf utility vehicle is designed to perform better. These vehicles are equipped with all-aluminum frames, rustproof, and a revolutionary drive system that easily senses the terrain. As a result, the demand for commercial turf utility vehicle increase which is expected to enhance the market growth.
Data Bridge Market Research analyses that the commercial turf utility vehicle market is expected to reach USD 2,843.50 million by 2030, which is USD 1,396.01 million in 2022, at a CAGR of 9.3% 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.
North America 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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U.S., Canada and Mexico in North America
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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, also called low-speed vehicles (LSVs), refer to the 4-wheeled vehicles with a maximum speed of 40 km/h (25 mph). Commercial turf utility vehicles are highly used as neighborhood vehicles and golf carts. They find applications in many areas, such as golf courses, museums, corporate offices and industrial areas.
North America Commercial Turf Utility Vehicle Market Dynamics
Drivers
- Increasing demand for commercial turf utility vehicles by airport authorities
An increase in traveling all around the globe has increased the usage of low-speed vehicles such as commercial turf utility vehicles by airport authorities for passengers and carrying luggage. Therefore, rising demand of commercial turf utility vehicle by airport authorities is expected to drive the growth of the market during the forecast period.
- The growing use of commercial turf utility vehicle in golf courses
The increasing demand for golf have augmented the golf courses, increasing the requirement of commercial turf utility vehicle vehicles. These vehicles can easily carry two golfers with their golf clubs around a golf course with less effort than walking. As a result, the demand for the commercial turf utility vehicle increases, further expected to drive the market growth.
Opportunities
- Surging product launches by major market players
The surging product launches and other innovations by major market players will provide ample growth opportunities for market growth. For instance, In January 2022, Yamaha introduced the Drive2 Powertrain AC Lithium. This brand-new golf automobile powered by lithium-ion which has independent rear suspension (IRS). With the introduction of the Drive2 PowerTech with IRS model, Yamaha continues to offer the same level of comfort, dependability, and performance to the consumers as its other golf and utility vehicle models.
- Growing adoption of commercial turf utility vehicle due to zero carbon emission and low noise
The demand for commercial turf utility vehicles increases because of lower emission of gases and less noise than normal vehicles. These vehicles are most preferred by golf courses, airport authorities, and industrial 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.
Restraints/ Challenges
- The dearth of availability of airbags in commercial turf utility vehicle
Lack of airbag availability in commercial turf utility vehicles is expected to hamper the market's growth. As a result of this, it is not crash-proof or does not protect the driver and raises the chances of danger of injury to passengers.
- 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 become a major challenge because most of these vehicles have only rear wheel braking systems which may cause loss of control during breaking the vehicle. Hence it becomes one of the major factor which challenges 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 approximately 430 employees. This acquisition aids the company to increasing 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 its upsurge 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 U.S., Canada and Mexico in North America.
U.S. dominates the commercial turf utility vehicle market in terms of market share. This is owing to the large number of sport events related to golf are played in this region. Furthermore, increasing demand for zero carbon emission vehicles will further boost the market's growth 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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