SportsField Management June 2023 | Page 39

EQUIPMENT AND TECHNOLOGY FOCUS

The UTV Market

Analyzing today ’ s utility vehicle trends

By Glenn Hansen
Kawasaki introduced its Mule utility vehicle brand in the 1980s ; it was way more functional than the oncepopular three-wheeler and far easier to use than a pickup or tractor . It didn ’ t take long for competitors to field new vehicles , and for entrepreneurial owners to improve them . Although Kawasaki has updated its Mule family , today ’ s utility vehicle stable is full of a wide variety of thoroughbreds , mustangs and Clydesdales — from beefed-up golf carts to wanna-be pickup trucks , the list of utility vehicles and manufacturers is long .
The vehicle market continues to grow , making it difficult to define and quantify . However , based on information from various market research groups , as well as discussions I ’ ve had with analysts , industry experts predict a compound annual growth rate that ranges from three to nearly five percent between now and 2027 . If so , that would grow the North American UTV market to an estimated $ 5 billion or higher .
In a survey we conducted to learn about the intent of vehicle shoppers , we found that 31.8 % are currently looking and expecting to purchase a powersports vehicle in 6 months , and another 18.2 % are thinking about looking but not planning to make a purchase in 6 months . Thirty-four percent of all respondents are looking to purchase a UTV , and are willing to spend $ 26,000 on that purchase .
In general , original equipment manufacturers ( OEMs ) have in recent years put increased emphasis on UTV development . Honda , one of the late comers to the UTV market , now offers 13 different models . Kawasaki now offers at least nine unique Mule vehicles , plus its Teryx line of work / play UTVs . A similar shift is happening with Polaris , Yamaha , and Can-Am . ( Fourwheel ATV pioneer Suzuki never officially entered the UTV market ; it does still sell ATVs .)
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