The global Utility Vehicles Market is valued at USD 27.76 billion in 2024, posting a robust CAGR of 9.9%. Demand is driven by construction utility vehicles, agricultural utility vehicles, industrial applications, and recreational utility vehicles, including sport utility vehicles (SUVs) and off-road utility vehicles. North America continues to lead in regional value, supported by stringent safety standards, OEM service integration, and high-tech utility vehicle configurations. Meanwhile, Asia-Pacific and Latin America prioritize scalable, cost-effective solutions that support infrastructure growth and agri-logistics. Utility Vehicles Market expansion is increasingly anchored by the rapid adoption of electric utility vehicles, which are capturing a growing share of new deployments and reshaping consumer preference toward sustainable, low-emission models.
Utility Vehicles overview
Published by MMR Statistics Research Team, Updated