New STOV Market Study:  Trends, 2007-2011, Estimates and Forecasts 2012-2116

       New Study Analyzes the Product Base of an $12 Billion STOV Industry

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Small Vehicle Resource, LLC (SVR) has published the sixth in a series of market research reports on the small, task-oriented vehicle (STOV) industry. The report covers small vehicle products ranging from golf cars, light transport and portage vehicles built off golf car frames, to heavy duty traditional turf vehicles and off-road utility and recreational vehicles (side-by-sides). The study concentrates on the product side of an estimated $12+ billion industry, including parts and service.

SVR is the successor company to International Market Solutions, LLC with the same principals involved. “SVR,” explains Managing Director, Stephen Metzger, “is an appropriate rebranding of our research efforts, as ‘Small Vehicle Resource’ gives clear view of our focus in the STOV industry.” The Small, Task-Oriented Vehicle Market in the United States, Trends from 2006-2012, Forecasts to 2016 contains analyses and the outlook for:

• The golf car industry–the market for fleet golf cars;

• Privately-owned vehicles–golf cars, upgraded golf cars, low-speed vehicles (LSVs);

• Utility vehicles built on golf car or modified golf car frames;

• Heavy duty utility vehicles, focusing on off-road side-by-side vehicles;

• Non-traditional, or “crossover” competition across industry segments;

• Used vehicles as viable options to new vehicles;

• Technologies that will have an impact on the industry;

• State of the market survey from dealers’ perspective;

• Latest regulations on small vehicles ownership and use.

“Small, task-oriented vehicle or STOV is the generic term we created to describe exactly what these vehicles do,” states Metzger. “They are designed for a relatively narrow range of tasks, such as golf, personal transportation, haulage and other work functions, but for the most part are built off of a few universally applicable body frames and drive trains.” “This sets the stage,” Metzger continues, “for substantial crossover competition, with OEMs moving out of their traditional markets–a trend and development we analyze in detail.”

Major findings in the study are:

• SVR forecasts new vehicle production for the overall STOV market to grow 18% from estimated 462,000 units in 2012 to approximately 545,000 units in 2016;

• Excluding the off-road segment which is predominantly ICE, electric power continues to gain significantly in units sold, across all segments of the golf car-type market, that includes golf cars, privately-owned vehicles, and light portage and transport vehicles increasing from 72% in 2007 to a projected 82% in 2016.

• Recovery from the recession has been spotty with some STOV market sub-segments growing strongly while others continue to struggle.;

• STOVs continue to be upgraded, adopting automotive features and standards, which are starting to migrate from high-end recreational UTVs into other STOV segments, promoting market growth;

• Golf cars remain a staple product in both new and used vehicle markets but the fleet market continues to face the challenge of a declining golf course population;

• The high-end off-road market weathered the recession and slow recovery very well. The promise of profits is increasing segment competition, marked by frequent, feature laden model introductions and new sub-segments like crossover UTVs;

• Commercial markets are a high growth area for LSVs while the personal transportation market without tax credits offers only low to moderate growth;

• Schools, municipalities and even some corporate customers are increasingly turning to LSVs to fulfill “green” goals and policies with safety features a strong decision-making factor as well;

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Further information, including a detailed table of contents, can be obtained by contacting

Stephen Metzger, Managing Director, SVR

(914) 293-7577 or smetzger@azureblog.smallvehicleresource.com