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Powersports Business • January 2026 • 17

Expanding inventories, decaying consumer confidence promote uncertainty

BY POWER PRODUCTS MARKETING CONTRIBUTOR

Editor’ s note: This article is from the 2025 Market Data Book, which will be available to download in late January.

The North American side-by-side, or UTV, market in 2024 dropped in volume just over −7 % to nearly 520,000 units following + 2 % growth in 2023 and a combined downturn of −18 % in the two prior years, according to research performed by Minneapolis- based research firm Power Products Marketing( PPM), which keeps an eye on the market, producing an annual database and associated report that define trends.

Initially a vehicle delegated to commercial uses— such as industrial, construction, and turf maintenance— UTVs found favor with consumer users as it was realized manufacturers were bringing vehicles to market that could offer off- road adventure in relative comfort with golf car- like operational ease. Offerings like the Kawasaki Mule were certainly capable for light trail duty, but their designs proved overtly industrial when compared with the first major sport- oriented models to make an impact on consumer purchase decisions— the Yamaha Rhino and, later, the Polaris RZR.

Based upon PPM analysis, Polaris continued to lead the market last year, followed distantly by Can- Am, Kawasaki, Honda and Deere. The remaining top- ten purveyors of

UTVs included Kubota, CFMOTO, Yamaha, Club Car and EZGO / Cushman.

Of the 10 best- selling UTVs in 2024, five were Polaris models that together accounted for 9.5 % of the total market volume. Those five Polaris machines were joined in the top- 10 by the best- selling Can- Am Defender MAX Ltd. HD10 w / Cab, Deere XUV 835 series, Can- Am Defender Ltd. HD10 w / Cab, Kubota RTV- X1140 W and Kubota RTV- X1100 C / CW. All 10 vehicles together accounted for over 106,500 units, or approx. 20.5 % of the total market volume.

PRODUCT CATEGORIES PPM splits UTVs into six distinct product categories, including Electric Utility Vehicles( EUV), Pure Utility Vehicles( PUV), Recreational Utility Vehicles( RUV), Sport Recreational Vehicles( SRV), Super Sport Vehicles( SSV) and Utility Crossover Vehicles( UCV).

EUVs are speed- governed at 25 mph and under, offer a large cargo area, two- and four- passenger seating, can be either 2WD or 4WD, and are very popular at golf courses, estates and gated communities, hunting trips, and in industrial plants and warehouses.

PUVs are speed- governed at 35 mph and under, offer a large cargo area, often lack independent rear suspension, feature 2WD or 4WD, feature bench or bucket seats for two- or four- passengers, carb as well as FI and EFI, and include all diesels.

RUVs feature speeds of 42− 55 mph, sportier styling and a smaller cargo area than UCVs, feature independent rear suspension, FI and EFI, two- and four- passenger options, bucket seats and 4WD.

SRVs feature speeds of 52− 70 mph, sporty styling yet more cargo area than an SSV, typically with large displacement engines

800cc and over, independent rear suspension, EFI, two- and four- passengers, bucket seats and 4WD.

SSVs exceed 70mph, offer performance styling with a limited cargo area, and typically feature large displacement engines 800cc and over, independent rear suspension, EFI, twoand four- passengers, bucket seats, superior handling and suspension and 4WD.

According to PPM research, UCVs are responsible for 48 % of the North American UTV market, PUVs account for 15.5 %, SSVs hold 14.5 % of the market and RUVs maintain a 10 % share. SRVs slide in with 5.5 % of the market while EUVs hold a 4.5 % share.

CONSUMER VS. COMMERCIAL PPM also splits its findings between consumer applications, commercial applications and— to a much smaller extent— government applications.

Whereas in 2000 the ratio between consumer and commercial applications was approximately 40 / 60 respectively, there has since been a significant shift to consumer models accounting for the majority of units moved. Of the nearly 520,000 UTVs retailed in North America in 2024, PPM found consumer applications likely accounted for over 85 % of sales while commercial applications looked to be responsible for just over 10 % of the total, with government applications accounting for nearly 1 %.

Each year as part of PPM’ s dealer survey, retailers are asked to segment their sales into 10 different categories within each of the three applications— consumer, commercial and government.

For instance, consumer uses include recreational use, farming / ranching, estate use, residential / homestead use, and hunting; commercial uses include industrial, golf, other turf and commercial non- turf; and government uses represent more than 60 different Federal agencies in the U. S.

Within the consumer application, survey results show recreational use was the largest category in 2024, accounting for 31 % of the total market. This was followed by farmers / ranchers( 29 % market share), estate use( 10.5 %), hunters( 9 %) and residential / homestead use( 8.5 %).

Within the commercial application, results show Industrial use accounted for 5.5 % of the total market, followed by other turf( 3 %), golf( nearly 2 %) and commercial non- turf( less than 1 %).

NON-TRADITIONAL BRANDS When you think of the UTV market, you’ re likely to visualize models supplied by bigname brands and sold by a brand- dedicated network of brick- and- mortar dealers.

However, there is another layer to the market that’ s often overlooked— the nontraditional- brand powersports vehicle market. These include units mostly sourced from China and sold not only by brick and motor dealers, but also via big- box outlets, the online marketplace and independent retailers.

And guess what? PPM finds sales have also been strong for many of these second- tier brands.

While Covid- associated supply- chain issues haunted numerous established brands, manufacturing and shipping woes didn’ t seem to impact many of the off- shore brands that ultimately had them experience a surge in sales, as container after container filled with vehicles continued to arrive unabated at U. S. ports by mostly Chinese importers shipped to their U. S. distributors.

In 2021, for the first time, the top 10 purveyors of UTVs— brands like Polaris, Can- Am, Kawasaki and Honda— were joined by lesser- known names, including Hisun and CFMOTO. Also experiencing remarkable

See PPM, Page 19