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Global fun utility vehicles (FUV) market may register impressive growth in the forecast period, 2023-2027, due to increasing demand for electric vehicles. Rising concerns regarding environmentally friendly vehicles will also drive the development of the global fun utility vehicles (FUV) market in the upcoming five years. Increasing concerns regarding degrading environmental conditions and the depleting atmosphere is also significant reason that is anticipated to support the growth of the global fun utility vehicles (FUV) market in the next five years.
Rising Innovations in Automotives Drive Market Growth
Rapidly growing advancements in vehicles are actively driving the growth of the global fun utility vehicle (FUV) market in the upcoming five years. Concerns for the environment, depleting resources, and surge in energy and power resource consumption are substantiating the growth of the global fun utility vehicles (FUV) market in the next five years. Exhaustive fumes and toxins released by diesel, petrol, and oil-based vehicles pose a major threat to the environment. To compensate for the non-renewable resources, the energy demands are majorly being derived by electric vehicles.
Electric vehicles are more popular among the young adult population with higher disposable incomes. According to the United Nations Department of Economic and Social Affairs, In 2019, there were about 1.2 billion youth aged 15 to 24 years in the world, or 16 percent of the global population. These are the main customer base for FUV and thus substantially support the growth of the global sun utility vehicles (FUV) market in the upcoming five years.
Growing Concerns Regarding Environment Supports Market Growth
Excessive toxic and exhaustive gases released out of automobiles cause severe damage to the environment. Along with the government, the consumers are gaining concerns and are actively supporting the motions of saving the environment from growing pollution. A surge in demand for environment-friendly vehicles and other shifts in the preferences of the consumer toward electric vehicles supports the growth of the global fun utility vehicle (FUV) market in the upcoming five years.
Moreover, increasing investments in the electric vehicle charging infrastructure and localized vendors & charging unit suppliers are further aiding the growth of the global fun utility vehicle (FUV) market in the next five years. These vehicles are well-supported and run efficiently on chargeable batteries. Multiple charging units and the effective inclination of using electric energy over combustible fuel to charge the vehicles are facilitating the growth of the global fun utility vehicle (FUV) market in the future five years.
Market Segmentation
The global fun utility vehicles (FUV) market segmentation is based on type, range, end-use, regional distribution, and competitive landscape. Based on type, the market is differentiated between two-wheeled and three-wheeled vehicles. By range, the market is fragmented into less than 50 miles, 50-100 miles, and above 100 miles. Based on end use, the market is bifurcated between personal, delivery, and others. The market analysis also studies the regional segmentation, divided among Asia-Pacific region, North American region, European & CIS region, South American region, and Middle East & African region.
Company Profile
Arcimoto, Inc., NIO, Li Auto Inc., and Guangzhou Xiaopeng Motors Technology Co Ltd. are enlisted in a partial list of major market players in the global fun utility vehicles (FUV) market.
Report Scope:
In this report, global fun utility vehicles (FUV) market has been segmented into the following categories, in addition to the industry trends, which have also been detailed below:
Fun Utility Vehicles (FUV) Market, By Type:
- Two-Wheeled
- Three-Wheeled Vehicle
Fun Utility Vehicles (FUV) Market, By Range:
- Less than 50 Miles
- 50-100 Miles
- Above 100 Miles
Fun Utility Vehicles (FUV) Market, By End Use:
- Personal
- Delivery
- Others
Fun utility vehicles (FUV) Market, By Region:
- North America
- United States
- Mexico
- Canada
- Asia-Pacific
- China
- India
- Japan
- Malaysia
- Thailand
- Indonesia
- Vietnam
- South Korea
- Europe & CIS
- France
- Germany
- United Kingdom
- Spain
- Italy
- Russia
- South America
- Brazil
- Argentina
- Colombia
- Middle East & Africa
- South Africa
- Saudi Arabia
- UAE
- Egypt
- Turkey
Competitive Landscape
Company Profile
Detailed analysis of the major companies present in global fun utility vehicles (FUV) market.
Available Customizations:
With the given market data, the analyst offers customizations according to a company’s specific needs. The following customization options are available for the report:
Company Information
- Detailed analysis and profiling of additional market players (up to five).
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Table of Contents
1. Product Overview
2. Research Methodology
3. Executive Summary
4. Impact of COVID-19 on Global Fun Utility Vehicle (FUV) Market
5. Voice of Customer
5.1. Factors Influencing Purchase Decision
5.2. Brand Satisfaction Level
5.3. Aided and Unaided Brand Recall
6. Global Fun Utility Vehicle (FUV) Market Outlook
6.1. Market Size & Forecast
6.1.1. By Value & Volume
6.2. Market Share & Forecast
6.2.1. By Type (Two-Wheeled, Three-Wheeled Vehicle)
6.2.2. By Range (Less than 50 Miles, 50-100 Miles, Above 100 Miles)
6.2.3. By End Use (Personal, Delivery, and Others)
6.2.4. By Region (North America; Europe; Asia Pacific; South America and Middle East & Africa)
6.2.5. By Company (2021)
6.3. Product Market Map (By Type, By Region)
7. North America Fun Utility Vehicle (FUV) Market Outlook
7.1. Market Size & Forecast
7.1.1. By Value & Volume
7.2. Market Share & Forecast
7.2.1. By Type
7.2.2. By Range
7.2.3. By End Use
7.2.4. By Country (United States; Canada; Mexico)
7.3. Product Market Map (By Type, By Country)
7.4. North America: Country Analysis
7.4.1. United States Fun Utility Vehicle (FUV) Market Outlook
7.4.1.1. Market Size & Forecast
7.4.1.1.1. By Value & Volume
7.4.1.2. Market Share & Forecast
7.4.1.2.1. By Type
7.4.1.2.2. By Range
7.4.1.2.3. By End Use
7.4.2. Canada Fun Utility Vehicle (FUV) Market Outlook
7.4.2.1. Market Size & Forecast
7.4.2.1.1. By Value & Volume
7.4.2.2. Market Share & Forecast
7.4.2.2.1. By Type
7.4.2.2.2. By Range
7.4.2.2.3. By End Use
7.4.3. Mexico Fun Utility Vehicle (FUV) Market Outlook
7.4.3.1. Market Size & Forecast
7.4.3.1.1. By Value & Volume
7.4.3.2. Market Share & Forecast
7.4.3.2.1. By Type
7.4.3.2.2. By Range
7.4.3.2.3. By End Use
8. Asia Pacific Fun Utility Vehicle (FUV) Market Outlook
8.1. Market Size & Forecast
8.1.1. By Value & Volume
8.2. Market Share & Forecast
8.2.1. By Type
8.2.2. By Range
8.2.3. By End Use
8.2.4. By Country (China, India, Japan, Malaysia, Thailand, Indonesia, Vietnam, South Korea)
8.3. Product Market Map (By Type, By Country)
8.4. Asia Pacific: Country Analysis
8.4.1. China Fun Utility Vehicle (FUV) Market Outlook
8.4.1.1. Market Size & Forecast
8.4.1.1.1. By Value & Volume
8.4.1.2. Market Share & Forecast
8.4.1.2.1. By Type
8.4.1.2.2. By Range
8.4.1.2.3. By End Use
8.4.2. India Fun Utility Vehicle (FUV) Market Outlook
8.4.2.1. Market Size & Forecast
8.4.2.1.1. By Value & Volume
8.4.2.2. Market Share & Forecast
8.4.2.2.1. By Type
8.4.2.2.2. By Range
8.4.2.2.3. By End Use
8.4.3. Japan Fun Utility Vehicle (FUV) Market Outlook
8.4.3.1. Market Size & Forecast
8.4.3.1.1. By Value & Volume
8.4.3.2. Market Share & Forecast
8.4.3.2.1. By Type
8.4.3.2.2. By Range
8.4.3.2.3. By End Use
8.4.4. Malaysia Fun Utility Vehicle (FUV) Market Outlook
8.4.4.1. Market Size & Forecast
8.4.4.1.1. By Value & Volume
8.4.4.2. Market Share & Forecast
8.4.4.2.1. By Type
8.4.4.2.2. By Range
8.4.4.2.3. By End Use
8.4.5. Thailand Fun Utility Vehicle (FUV) Market Outlook
8.4.5.1. Market Size & Forecast
8.4.5.1.1. By Value & Volume
8.4.5.2. Market Share & Forecast
8.4.5.2.1. By Type
8.4.5.2.2. By Range
8.4.5.2.3. By End Use
8.4.6. Indonesia Fun Utility Vehicle (FUV) Market Outlook
8.4.6.1. Market Size & Forecast
8.4.6.1.1. By Value & Volume
8.4.6.2. Market Share & Forecast
8.4.6.2.1. By Type
8.4.6.2.2. By Range
8.4.6.2.3. By End Use
8.4.7. Vietnam Fun Utility Vehicle (FUV) Market Outlook
8.4.7.1. Market Size & Forecast
8.4.7.1.1. By Value & Volume
8.4.7.2. Market Share & Forecast
8.4.7.2.1. By Type
8.4.7.2.2. By Range
8.4.7.2.3. By End Use
8.4.8. South Korea Fun Utility Vehicle (FUV) Market Outlook
8.4.8.1. Market Size & Forecast
8.4.8.1.1. By Value & Volume
8.4.8.2. Market Share & Forecast
8.4.8.2.1. By Type
8.4.8.2.2. By Range
8.4.8.2.3. By End Use
9. Europe & CIS Fun Utility Vehicle (FUV) Market Outlook
9.1. Market Size & Forecast
9.1.1. By Value & Volume
9.2. Market Share & Forecast
9.2.1. By Type
9.2.2. By Range
9.2.3. By End Use
9.2.4. By Country (Germany, France, United Kingdom, Spain, Italy, Russia)
9.3. Product Market Map (By Type, By Country)
9.4. Europe & CIS: Country Analysis
9.4.1. Germany Fun Utility Vehicle (FUV) Market Outlook
9.4.1.1. Market Size & Forecast
9.4.1.1.1. By Value & Volume
9.4.1.2. Market Share & Forecast
9.4.1.2.1. By Type
9.4.1.2.2. By Range
9.4.1.2.3. By End Use
9.4.2. France Fun Utility Vehicle (FUV) Market Outlook
9.4.2.1. Market Size & Forecast
9.4.2.1.1. By Value & Volume
9.4.2.2. Market Share & Forecast
9.4.2.2.1. By Type
9.4.2.2.2. By Range
9.4.2.2.3. By End Use
9.4.3. United Kingdom Fun Utility Vehicle (FUV) Market Outlook
9.4.3.1. Market Size & Forecast
9.4.3.1.1. By Value & Volume
9.4.3.2. Market Share & Forecast
9.4.3.2.1. By Type
9.4.3.2.2. By Range
9.4.3.2.3. By End Use
9.4.4. Spain Fun Utility Vehicle (FUV) Market Outlook
9.4.4.1. Market Size & Forecast
9.4.4.1.1. By Value & Volume
9.4.4.2. Market Share & Forecast
9.4.4.2.1. By Type
9.4.4.2.2. By Range
9.4.4.2.3. By End Use
9.4.5. Italy Fun Utility Vehicle (FUV) Market Outlook
9.4.5.1. Market Size & Forecast
9.4.5.1.1. By Value & Volume
9.4.5.2. Market Share & Forecast
9.4.5.2.1. By Type
9.4.5.2.2. By Range
9.4.5.2.3. By End Use
9.4.6. Russia Fun Utility Vehicle (FUV) Market Outlook
9.4.6.1. Market Size & Forecast
9.4.6.1.1. By Value & Volume
9.4.6.2. Market Share & Forecast
9.4.6.2.1. By Type
9.4.6.2.2. By Range
9.4.6.2.3. By End Use
10. South America Fun Utility Vehicle (FUV) Market Outlook
10.1. Market Size & Forecast
10.1.1. By Value & Volume
10.2. Market Share & Forecast
10.2.1. By Type
10.2.2. By Range
10.2.3. By End Use
10.2.4. By Country (Brazil, Argentina, Colombia)
10.3. Product Market Map (By Type, By Country)
10.4. South America: Country Analysis
10.4.1. Brazil Fun Utility Vehicle (FUV) Market Outlook
10.4.1.1. Market Size & Forecast
10.4.1.1.1. By Value & Volume
10.4.1.2. Market Share & Forecast
10.4.1.2.1. By Type
10.4.1.2.2. By Range
10.4.1.2.3. By End Use
10.4.2. Argentina Fun Utility Vehicle (FUV) Market Outlook
10.4.2.1. Market Size & Forecast
10.4.2.1.1. By Value & Volume
10.4.2.2. Market Share & Forecast
10.4.2.2.1. By Type
10.4.2.2.2. By Range
10.4.2.2.3. By End Use
10.4.3. Colombia Fun Utility Vehicle (FUV) Market Outlook
10.4.3.1. Market Size & Forecast
10.4.3.1.1. By Value & Volume
10.4.3.2. Market Share & Forecast
10.4.3.2.1. By Type
10.4.3.2.2. By Range
10.4.3.2.3. By End Use
11. Middle East and Africa Fun Utility Vehicle (FUV) Market Outlook
11.1. Market Size & Forecast
11.1.1. By Value & Volume
11.2. Market Share & Forecast
11.2.1. By Type
11.2.2. By Range
11.2.3. By End Use
11.2.4. By Country (South Africa, Saudi Arabia, UAE, Egypt, Turkey)
11.3. Product Market Map (By Type, By Country)
11.4. Middle East and Africa: Country Analysis
11.4.1. South Africa Fun Utility Vehicle (FUV) Market Outlook
11.4.1.1. Market Size & Forecast
11.4.1.1.1. By Value & Volume
11.4.1.2. Market Share & Forecast
11.4.1.2.1. By Type
11.4.1.2.2. By Range
11.4.1.2.3. By End Use
11.4.2. Saudi Arabia Fun Utility Vehicle (FUV) Market Outlook
11.4.2.1. Market Size & Forecast
11.4.2.1.1. By Value & Volume
11.4.2.2. Market Share & Forecast
11.4.2.2.1. By Type
11.4.2.2.2. By Range
11.4.2.2.3. By End Use
11.4.3. UAE Fun Utility Vehicle (FUV) Market Outlook
11.4.3.1. Market Size & Forecast
11.4.3.1.1. By Value & Volume
11.4.3.2. Market Share & Forecast
11.4.3.2.1. By Type
11.4.3.2.2. By Range
11.4.3.2.3. By End Use
11.4.4. Egypt Fun Utility Vehicle (FUV) Market Outlook
11.4.4.1. Market Size & Forecast
11.4.4.1.1. By Value & Volume
11.4.4.2. Market Share & Forecast
11.4.4.2.1. By Type
11.4.4.2.2. By Range
11.4.4.2.3. By End Use
11.4.5. Turkey Fun Utility Vehicle (FUV) Market Outlook
11.4.5.1. Market Size & Forecast
11.4.5.1.1. By Value & Volume
11.4.5.2. Market Share & Forecast
11.4.5.2.1. By Type
11.4.5.2.2. By Range
11.4.5.2.3. By End Use
12. Market Dynamics
12.1. Drivers
12.2. Challenges
13. Market Trends and Developments
14. Competitive Landscape
14.1. Company Profiles (Partial List of Leading Companies)
14.1.1. Arcimoto, Inc.
14.1.2. NIO
14.1.3. Li Auto Inc.
14.1.4. Guangzhou Xiaopeng Motors Technology Co Ltd
15. Strategic Recommendations
16. About Us & Disclaimer
(Note: The companies list can be customized based on the client requirements.)
Companies Mentioned
- Arcimoto, Inc.
- NIO
- Li Auto Inc.
- Guangzhou Xiaopeng Motors Technology Co Ltd
