Global Automotive Side By Side Vehicles Market is segmented By Application Type (Utility SSVs, Sports SSVs, Others), By Seating Type (Single-seated SSVs, Double-seated SSVs, Three and more-seated SSVs), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2024-2031.
Market Overview
[150 Pages Report] The Global Automotive Side By Side Vehicles Market is expected to grow at a high CAGR during the forecasting period (2024-2031).
Automotive Side By Side Vehicles Market - Strategic Insights
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Metrics |
Details |
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Market CAGR |
High |
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Segments Covered |
By Application Type, By Seating Type, and By Region |
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Report Insights Covered |
Competitive Landscape Analysis, Company Profile Analysis, Market Size, Share, Growth, Demand, Recent Developments, Mergers and acquisitions, New Product Launches, Growth Strategies, Revenue Analysis, and Other key insights. |
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Fastest Growing Region |
Asia Pacific |
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Largest Market Share |
North America |
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- Side-by-side vehicles were commercially available in 2003. They are small off-road vehicles that accommodate one to six people. There have been concerns about the risk of rollovers by side-by-side vehicles.
- The side-by-side vehicle is narrow and heavy on top with a traveling speed of 60 mph.
- A side-by-side vehicle is an excellent alternative to quad bikes. 60% of the quad bike fatalities examined by the NSW Coroner in 2015 involved a rollover.
- They are considered to be an effective way of protecting against quad bike-related injury and fatalities on-farm.
- Side-by-side vehicles may be more suitable for use in rural workplaces because the operator remains seated, and they generally have rollover protection structures (ROPs).
Market Drivers
- The increase in the production of new Side-by-side vehicles is driving the global automotive side-by-side vehicles market.
- The increasing disposable incomes and an incessant shift from ATVs to SSVs are the primary drivers growing the demand for the side-by-side vehicles market.
- The increasing use of Side by side vehicles in agriculture such as UTV and sports purposes is also likely to drive the demand for Side by side vehicles during the forecast period.
Market Restraints
- According to the Consumer Product Safety Commission (CPSC), there have been numerous recalls of side-by-side vehicles in recent years.
- The recalls are due to Faulty door hinges, Overheating engines, Fuel leaks, and Braking issues in the side-by-side vehicle. This will hinder the global automotive team-by-side vehicles market.
- Side-by-side vehicles lack both the stability and safety features that were available in traditional automobiles. This is also hampering the growth of the global automotive side-by-side vehicles market.
Segmentation Analysis
By application type
- Utility SSV has the largest market due to the increasing agriculture activities globally, and it is expected to grow in the forecasting period. In contrast, the sports segment witnessed the highest growth in 2017, driven by the increasing preference for SSVs for sports purposes.
By Geography
Australia
- The central chamber of automotive industries has estimated that in 2017 the SSV segment in Australia grew its share of the total motorcycle market from 19.9% in 2016 to 21.8% in 2017.
Competitive Trends
- Polaris has a significant market for SSVs in 2017, followed by Honda in second place and Yamaha.
- In August 2018, American Honda announced that the return of its venerable side-by-side for the 2019 model year, featuring a mix of fun and capable machines sporting a wide range of new colors.
- In 2017, Caterpillar introduced its first-ever Cat® utility vehicles, the gasoline-powered Cat CUV82, and diesel-powered CUV102 D.
- In August 2018, Taiwan Golden Bee (TGB) a global leader in the ATV market, is shifting its North American market focus to the UTV industry.
- TGB will unveil its 1000 Series UTV prototype and new business strategy at The Green Industry & Equipment Expo at the Kentucky Exposition Center on October 17-19.
FAQ
What is the Automotive Side By Side Vehicles Market growth?
The market is growing at a High CAGR
What is the Automotive Side By Side Vehicles Market size in 2021?
The Market size was valued at USD YY million in 2021.
