Fun Utility Vehicle Market Trends

  • Report ID: 3110
  • Published Date: Dec 24, 2024
  • Report Format: PDF, PPT

Fun Utility Vehicle Market Trends

Growth Drivers

  • Increasing Innovation in Automotive Industry
  • Growing Climatic Concerns Regarding Vehicular Pollution

Challenges

  • Lack of Awareness amongst the Masses

Fun Utility Vehicle (FUV) Market: Key Insights

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. The market in North America region is estimated to garner largest share over the forecast period 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. The 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.

Fun Utility Vehicle (FUV) Market Share Image

 

Base Year

2024

Base Year

  • North America (U.S., and Canada)
  • Asia Pacific (Japan, China, India, Indonesia, Malaysia, Australia, South Korea, Rest of Asia Pacific)
  • Europe (UK, Germany, France, Italy, Spain, Russia, NORDIC, Rest of Europe)
  • Latin America (Mexico, Argentina, Brazil, Rest of Latin America)
  • Middle East and Africa (Israel, GCC North Africa, South Africa, Rest of the Middle East and Africa)

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Browse Key Market Insights with Data Illustration:


Author Credits:  Saima Khursheed


  • Report ID: 3110
  • Published Date: Dec 24, 2024
  • Report Format: PDF, PPT

Frequently Asked Questions (FAQ)

Fun Utility Vehicle (FUV) Market size is anticipated to witness lucrative growth rate during the forecast period i.e., between 2025-2037.

Growing demand for environmentally friendly vehicles will impel the market growth.

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.

The major players in the market include Arcimoto, Inc., NIO, Li Auto Inc., Guangzhou Xiaopeng Motors Technology Co Ltd., and more.
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