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(I-AutoNewsWire.com, September 06, 2019 ) Market Overview • Side by side vehicles was 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 top with the traveling speed of 60 mph. • Side by side vehicles 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.
Market Dynamics • The increase in 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 that are growing the demand for side-by-side vehicles market. • The increasing use of Side by side vehicles in agriculture such as UTV and sports purposes are also likely to drive the demand for Side by side vehicles during the forecast period. • According to the Consumer Product Safety Commission (CPSC), there have been numerous recalls of side by side vehicles in recent years. Market Segmentation 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, whereas the sports segment has witnessed the highest growth in 2017, it is driven by the increasing preference of SSVs for sports purpose.
By Application Type • Utility SSVs • Sports SSVs • Others By Seating Type • Single-seated SSVs • Double-seated SSVs • Three and more-seated SSVs
Competitive Trends • Polaris has the significant market for SSVs in 2017 followed by Honda in second place and Yamaha in third place. • 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 has introduced it’s first-ever Cat® utility vehicles, the gasoline-powered Cat CUV82, and diesel-powered CUV102 D. • In August 2018, Taiwan Golden Bee (TGB) is a global leader for ATV market, is shifting their North American market focus to UTV industry.
Geographical Analysis • Asia Pacific • Europe • North America • South America • Rest of the World
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. View full sample report: https://www.datamintelligence.com/research-report/automotive-side-by-side-vehicles-ssvs-market
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