Fun Utility Vehicle Market Share

North America Market Analysis

Regionally, the global fun utility vehicle (FUV) market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region.North America industry is estimated to dominate majority revenue share by 2037, on the back of growing adoption of electric vehicles, backed by high investment in development of environment friendly vehicles. Around 240,000 all-electric vehicles (EV) were sold in the United States in 2019. Moreover, rising climate awareness among the masses, is also expected to boost the market growth in the upcoming years.

Europe Market Statistics

The fun utility vehicle (FUV) market in the Europe region is estimated to witness highest CAGR over the forecast period owing to the increasing use of EVs in tourist spots in countries, such as, France, the Netherlands, and others, to minimize the degradation of monuments, heritage sites, and scenic beauty. Availability of such vehicles on rent for tourists, is another factor estimated to boost the market growth in the region.