The Small Task-Oriented Vehicle Market Meets Urban/Suburban Mobility – Trends from 2016, the Outlook to 2025
In a new study on the small, task-oriented vehicle (STOV) market in the United States and Canada–the 10th in a biennial series published since 2000–Small Vehicle Resource (SVR), LLC describes an industry in midstream transition driven by:
- Climate policies, including zero emissions objectives, COVID-19 effects, and new technologies, which usher in the urban/suburban mobility (USM) market and underpin an expanding consumer market for personal transportation vehicles, as well as commercial markets for light duty utility vehicles;
- The on-going transition from lead acid to lithium batteries will have a major positive impact, raising vehicle performance levels and augmenting vehicle longevity and recycling value;
- The maturing off-road utility and recreational UTV market remains fundamentally strong and highly competitive, and is poised to follow the automobile market and golf-car type vehicles into electrification—either because of market demands or tightened restrictions of ICE-powered vehicles.
These factors, along with a strong traditional market, will put the industry on a 11% growth path for PTVs and slightly higher for light duty utility vehicles. Light duty utility vehicles have a major opportunity as a last-mile delivery vehicle. PTVs and LDUs will be largely electric. The industry and markets move from golf-centric to a more broad-based “mobility-centric” market. The off-road UTV market will also see more moderate growth, but remain an important segment of the STOV marketplace.
Key industry segments and total market size
The key segments are golf fleet, personal transportation vehicles (PTVs), light-duty utility vehicles (LDUs), and off-road utility and recreation vehicles. In total, these segments are forecasted to account for close to 1,200,000 new vehicles in 2025 and between $18 and $20 billion in retail sales.
New and revised data for golf car-type vehicles (fleet, PTVs, light utility)
This report, the 10th in the series, dating to 2000, develops the past five-year market trends from 2016 to 2019, with estimates for 2020 and projections to 2025. The key segments, as noted above, are golf fleet, personal transportation vehicles (PTVs), light-duty utility vehicles (LDUs), and off-road work and recreation vehicles.
This report updates all previous data based on the U.S. Department of Commerce Annual Survey of Manufacturers and grass-roots dealer surveys by SVR. The latter survey provides a new breakout of market data for PTVs and light-duty utility vehicles. (These are the two broad segments which make up the non-golf market, whose major participants are Club Car, E-Z-GO, and Yamaha Golf.)
Overall, the market, with the exception of the golf fleet segment, should see steady growth and provide the opportunity for a major repositioning during the next five years. The repositioning will, through on-going product development, an evolution in urban and suburban transportation systems, and a new strategic focus, set the stage for a significantly broader market evolving throughout the forecast period.
SVR sees the following key developments in golf car-type vehicles, which are currently underway and are projected to continue into the forecast period:
Updated Strategic Analysis of the Off-road (ORV) Market, Including Market Shares
As the ORV market matures, growth rates decline, and company performance becomes more and more dependent on achieving market share and realizing operational cost savings. Despite lower expected growth, this industry segment continues to attract new companies, adding to the competitive intensity of the market.
While Polaris Industries is still the dominant major player, other companies such as Can-Am are gaining ground. The SVR report contains the latest market share numbers and a detailed, critical analysis of company strategies, and who is likely to come out on top.
Updated National and State Regulations Affecting the Industry and Markets
This report contains fully updated documentation of national and state regulations with regard to on-road restrictions, operating speeds, and greenhouse gas (GHG) goals and restrictions. Data in this chapter can provide guidelines and direction with regard to product development and marketing.
Who Could Benefit From This Study:
In light of the significant changes in store over the next five, even ten years, this report should be a “must-read” for:
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- Product engineers/developers
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- Marketing personnel covering both domestic and global markets;
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- Corporate strategic planners/executives;
- Venture capitalists/industry analysts
Study brochure with table of contents. (PDF)
Packages and fees:
- Full package of industry report, special section on the pathway to personal and urban mobility, and PowerPoint: $4,550
- Industry report and power point $3,750
- Industry report only $3,250
Order before September 5 and receive the full package for the price of the industry report alone: $3,750.
TO SUBSCRIBE: Steve Metzger, SVR Managing Director at smetzger@smallvehicleresource.com or (914) 293-7577