Insight by Abdul Wasay, Chief Operating Officer at The Business Research Company
In response to fluctuating tariffs and geopolitical trade developments, the Electric Utility Vehicle Market Outlook 2025 analyses how businesses are adapting through supply chain diversification and strategic sourcing.
What Are the Expected Market Growth Rates for the Electric Utility Vehicle Market?
The market size of the Electric Utility Vehicle Global Market Report 2025 has expanded significantly recently. The market size is expected to increase from $14.92 billion in 2024 to $15.91 billion in 2025, with a compound annual growth rate (CAGR) of 6.7%.
What Are the Expected Market Growth Trends for the Electric Utility Vehicle Market Through 2029?
The 2029 market projections for the Electric Utility Vehicle Global Market Report 2025 anticipate the market size to reach $21.31 billion with a compound annual growth rate (CAGR) of 7.6%.
Download the Free Sample Now:
What Are the Key Business Drivers in the Electric Utility Vehicle Market Landscape?
The key drivers in the electric utility vehicle market are:
• Development of charging infrastructure
• Regulatory changes and policy amendments
• Evolving consumer demand and preferences
• Expansion of global electric vehicle market
How Is the Electric Utility Vehicle Market Divided Across Key Categories?
The electric utility vehicle market covered in this report is segmented –
1) By Vehicle Type: Sports Utility Vehicle, Multi Utility Vehicle, Utility Terrain Vehicle, Other Vehicle Types
2) By Battery Type: Lithium-Ion, Lead-Acid, Other Battery Types
3) By Application: Commercial Use, Municipal Use, Other Applications
Explore the Complete Market Report:
What Are the Ongoing Trends in the Electric Utility Vehicle Market?
The key trends in the electric utility vehicle market are:
• The market is being shaped by a diversification in electric utility vehicle offerings.
• Improvements in range and battery technology are significant emerging trends.
• The rise of last-mile delivery solutions is influencing the market's future.
• Fleet electrification initiatives and sustainability goals set by governments and corporations are driving trends.
Which Companies are Expanding in the Electric Utility Vehicle Industry?
Major players in the electric utility vehicle market are:
• Club Car LLC
• Polaris Industries Inc.
• Ligier Professional
• E-Z-GO
• Alke' S.r.l.
• Marshell Inc.
• Taylor-Dunn
• Deere & Company
• STAR EV
• Guangdong Lvtong Electric Vehicles Co. Ltd.
• Melex Group
• Addax Motors
• Esagono Energia SRL
• PILOTCAR Otomotiv San. ve Tic. A.S
• Tropos Technologies Inc.
• Proterra Inc.
• Rivian Automotive Inc.
• Arcimoto Inc.
• Canoo Inc.
• BYD Company Limited
• SAIC Motor Corporation Limited
Which is the Largest Region the Global Electric Utility Vehicle Market?
North America was the largest region in the electric utility vehicle market in 2024
