Electric Utility Vehicle Market Insights 2025, Analysis and Forecast to 2030, by Manufacturers, Regions, Technology, Application, Product Type

By: HDIN Research Published: 2025-06-29 Pages: 86
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Electric Utility Vehicle Market Summary
Introduction
Electric utility vehicles (EUVs), used for low-speed transport in various sectors, are powered by electric motors, offering eco-friendly alternatives to traditional vehicles. The market is driven by increasing demand for sustainable transport, with global electric vehicle adoption rising 10% annually (IEA 2023). Applications in commercial, industrial, and agricultural settings fuel growth, supported by innovations in battery efficiency and lightweight designs. The global electric utility vehicle market is projected to reach USD 15–21 billion in 2025, with a CAGR of 5%–9% through 2030.

Regional Analysis
 North America: The U.S. leads with widespread use in recreation and industrial sectors, while Canada focuses on rugged terrain vehicles.
 Europe: Germany and the UK drive demand due to green transport policies and urban applications.
 Asia Pacific: China and India see rapid growth from industrial and agricultural needs, while Japan emphasizes compact designs.
 Rest of the World: Brazil expands agricultural use, and Australia grows through recreational demand.

Application Analysis
 Commercial Transport: Expected growth of 5.2%–9.2%, driven by logistics and campus transport. Trends focus on fleet electrification.
 Industrial: Projected growth of 5.0%–9.0%, with demand for warehouse and factory vehicles.
 Recreation: Growth of 4.8%–8.8%, emphasizing golf carts and resort transport.
 Agriculture: Growth of 4.7%–8.7%, driven by sustainable farming solutions.
 Others: Growth of 4.6%–8.6%, including municipal and security applications.

Drive Type Analysis
 2WD: Expected growth of 4.8%–8.8%, valued for cost-effectiveness in light-duty tasks. Trends highlight energy efficiency.
 4WD: Projected growth of 5.2%–9.2%, key for rugged terrains in agriculture and industry.
 AWD: Growth of 5.0%–9.0%, with demand for versatile performance in mixed environments.

Key Market Players
Leading firms include CLUB CAR, offering versatile EUVs; Addax Motors, focusing on urban transport; Alke, specializing in compact designs; American Landmaster, targeting rugged applications; Columbia Vehicle Group, HISUN, Marshell Green Power, Polaris, Star EV Corporation, and Textron Specialized Vehicles, innovating in battery range and durability.

Porter’s Five Forces Analysis
 Threat of New Entrants: Moderate, due to capital requirements, though green tech startups can enter.
 Threat of Substitutes: Moderate, as traditional fuel vehicles compete, but EUVs offer sustainability.
 Bargaining Power of Buyers: Moderate, with buyers seeking cost-effective, reliable vehicles.
 Bargaining Power of Suppliers: Low, due to multiple battery and component providers.
 Competitive Rivalry: High, with competition on range, cost, and eco-friendly features.

Market Opportunities and Challenges
Opportunities:
 Rising EV adoption (10% annual growth) and green policies drive demand.
 Sustainable designs and Asia’s industrial growth enhance sales.
Challenges:
 High battery costs limit affordability.
 Charging infrastructure gaps in rural areas pose hurdles.
Table of Contents
Chapter 1 Executive Summary
Chapter 2 Abbreviation and Acronyms
Chapter 3 Preface
3.1 Research Scope
3.2 Research Sources
3.2.1 Data Sources
3.2.2 Assumptions
3.3 Research Method
Chapter 4 Market Landscape
4.1 Market Overview
4.2 Classification/Types
4.3 Application/End Users
Chapter 5 Market Trend Analysis
5.1 Introduction
5.2 Drivers
5.3 Restraints
5.4 Opportunities
5.5 Threats
Chapter 6 Industry Chain Analysis
6.1 Upstream/Suppliers Analysis
6.2 Electric Utility Vehicle Analysis
6.2.1 Technology Analysis
6.2.2 Cost Analysis
6.2.3 Market Channel Analysis
6.3 Downstream Buyers/End Users
Chapter 7 Latest Market Dynamics
7.1 Latest News
7.2 Merger and Acquisition
7.3 Planned/Future Project
7.4 Policy Dynamics
Chapter 8 Trading Analysis
8.1 Export of Electric Utility Vehicle by Region
8.2 Import of Electric Utility Vehicle by Region
8.3 Balance of Trade
Chapter 9 Historical and Forecast Electric Utility Vehicle Market in North America (2020-2030)
9.1 Electric Utility Vehicle Market Size
9.2 Electric Utility Vehicle Demand by End Use
9.3 Competition by Players/Suppliers
9.4 Type Segmentation and Price
9.5 Key Countries Analysis
9.5.1 United States
9.5.2 Canada
9.5.3 Mexico
Chapter 10 Historical and Forecast Electric Utility Vehicle Market in South America (2020-2030)
10.1 Electric Utility Vehicle Market Size
10.2 Electric Utility Vehicle Demand by End Use
10.3 Competition by Players/Suppliers
10.4 Type Segmentation and Price
10.5 Key Countries Analysis
10.5.1 Brazil
10.5.2 Argentina
10.5.3 Chile
10.5.4 Peru
Chapter 11 Historical and Forecast Electric Utility Vehicle Market in Asia & Pacific (2020-2030)
11.1 Electric Utility Vehicle Market Size
11.2 Electric Utility Vehicle Demand by End Use
11.3 Competition by Players/Suppliers
11.4 Type Segmentation and Price
11.5 Key Countries Analysis
11.5.1 China
11.5.2 India
11.5.3 Japan
11.5.4 South Korea
11.5.5 Southest Asia
11.5.6 Australia
Chapter 12 Historical and Forecast Electric Utility Vehicle Market in Europe (2020-2030)
12.1 Electric Utility Vehicle Market Size
12.2 Electric Utility Vehicle Demand by End Use
12.3 Competition by Players/Suppliers
12.4 Type Segmentation and Price
12.5 Key Countries Analysis
12.5.1 Germany
12.5.2 France
12.5.3 United Kingdom
12.5.4 Italy
12.5.5 Spain
12.5.6 Belgium
12.5.7 Netherlands
12.5.8 Austria
12.5.9 Poland
12.5.10 Russia
Chapter 13 Historical and Forecast Electric Utility Vehicle Market in MEA (2020-2030)
13.1 Electric Utility Vehicle Market Size
13.2 Electric Utility Vehicle Demand by End Use
13.3 Competition by Players/Suppliers
13.4 Type Segmentation and Price
13.5 Key Countries Analysis
13.5.1 Egypt
13.5.2 Israel
13.5.3 South Africa
13.5.4 Gulf Cooperation Council Countries
13.5.5 Turkey
Chapter 14 Summary For Global Electric Utility Vehicle Market (2020-2025)
14.1 Electric Utility Vehicle Market Size
14.2 Electric Utility Vehicle Demand by End Use
14.3 Competition by Players/Suppliers
14.4 Type Segmentation and Price
Chapter 15 Global Electric Utility Vehicle Market Forecast (2025-2030)
15.1 Electric Utility Vehicle Market Size Forecast
15.2 Electric Utility Vehicle Demand Forecast
15.3 Competition by Players/Suppliers
15.4 Type Segmentation and Price Forecast
Chapter 16 Analysis of Global Key Vendors
15.1 CLUB CAR
15.1.1 Company Profile
15.1.2 Main Business and Electric Utility Vehicle Information
15.1.3 SWOT Analysis of CLUB CAR
15.1.4 CLUB CAR Electric Utility Vehicle Sales, Revenue, Price and Gross Margin (2020-2025)
15.2 Addax Motors
15.2.1 Company Profile
15.2.2 Main Business and Electric Utility Vehicle Information
15.2.3 SWOT Analysis of Addax Motors
15.2.4 Addax Motors Electric Utility Vehicle Sales, Revenue, Price and Gross Margin (2020-2025)
15.3 Alke
15.3.1 Company Profile
15.3.2 Main Business and Electric Utility Vehicle Information
15.3.3 SWOT Analysis of Alke
15.3.4 Alke Electric Utility Vehicle Sales, Revenue, Price and Gross Margin (2020-2025)
15.4 American Landmaster
15.4.1 Company Profile
15.4.2 Main Business and Electric Utility Vehicle Information
15.4.3 SWOT Analysis of American Landmaster
15.4.4 American Landmaster Electric Utility Vehicle Sales, Revenue, Price and Gross Margin (2020-2025)
15.5 Columbia Vehicle Group
15.5.1 Company Profile
15.5.2 Main Business and Electric Utility Vehicle Information
15.5.3 SWOT Analysis of Columbia Vehicle Group
15.5.4 Columbia Vehicle Group Electric Utility Vehicle Sales, Revenue, Price and Gross Margin (2020-2025)
15.6 HISUN
15.6.1 Company Profile
15.6.2 Main Business and Electric Utility Vehicle Information
15.6.3 SWOT Analysis of HISUN
15.6.4 HISUN Electric Utility Vehicle Sales, Revenue, Price and Gross Margin (2020-2025)
Please ask for sample pages for full companies list
Table Abbreviation And Acronyms List
Table Research Scope Of Electric Utility Vehicle Report
Table Data Sources Of Electric Utility Vehicle Report
Table Major Assumptions Of Electric Utility Vehicle Report
Table Electric Utility Vehicle Classification
Table Electric Utility Vehicle Applications List
Table Drivers Of Electric Utility Vehicle Market
Table Restraints Of Electric Utility Vehicle Market
Table Opportunities Of Electric Utility Vehicle Market
Table Threats Of Electric Utility Vehicle Market
Table Raw Materials Suppliers List
Table Different Production Methods Of Electric Utility Vehicle
Table Cost Structure Analysis Of Electric Utility Vehicle
Table Key End Users List
Table Latest News Of Electric Utility Vehicle Market
Table Merger And Acquisition List
Table Planned/Future Project Of Electric Utility Vehicle Market
Table Policy Of Electric Utility Vehicle Market
Table 2020-2030 Regional Export Of Electric Utility Vehicle
Table 2020-2030 Regional Import Of Electric Utility Vehicle
Table 2020-2030 Regional Trade Balance
Table 2020-2030 North America Electric Utility Vehicle Market Size And Market Volume List
Table 2020-2030 North America Electric Utility Vehicle Demand List By Application
Table 2020-2025 North America Electric Utility Vehicle Key Players Sales List
Table 2020-2025 North America Electric Utility Vehicle Key Players Market Share List
Table 2020-2030 North America Electric Utility Vehicle Demand List By Type
Table 2020-2025 North America Electric Utility Vehicle Price List By Type
Table 2020-2030 United States Electric Utility Vehicle Market Size And Market Volume List
Table 2020-2030 United States Electric Utility Vehicle Import & Export List
Table 2020-2030 Canada Electric Utility Vehicle Market Size And Market Volume List
Table 2020-2030 Canada Electric Utility Vehicle Import & Export List
Table 2020-2030 Mexico Electric Utility Vehicle Market Size And Market Volume List
Table 2020-2030 Mexico Electric Utility Vehicle Import & Export List
Table 2020-2030 South America Electric Utility Vehicle Market Size And Market Volume List
Table 2020-2030 South America Electric Utility Vehicle Demand List By Application
Table 2020-2025 South America Electric Utility Vehicle Key Players Sales List
Table 2020-2025 South America Electric Utility Vehicle Key Players Market Share List
Table 2020-2030 South America Electric Utility Vehicle Demand List By Type
Table 2020-2025 South America Electric Utility Vehicle Price List By Type
Table 2020-2030 Brazil Electric Utility Vehicle Market Size And Market Volume List
Table 2020-2030 Brazil Electric Utility Vehicle Import & Export List
Table 2020-2030 Argentina Electric Utility Vehicle Market Size And Market Volume List
Table 2020-2030 Argentina Electric Utility Vehicle Import & Export List
Table 2020-2030 Chile Electric Utility Vehicle Market Size And Market Volume List
Table 2020-2030 Chile Electric Utility Vehicle Import & Export List
Table 2020-2030 Peru Electric Utility Vehicle Market Size And Market Volume List
Table 2020-2030 Peru Electric Utility Vehicle Import & Export List
Table 2020-2030 Asia & Pacific Electric Utility Vehicle Market Size And Market Volume List
Table 2020-2030 Asia & Pacific Electric Utility Vehicle Demand List By Application
Table 2020-2025 Asia & Pacific Electric Utility Vehicle Key Players Sales List
Table 2020-2025 Asia & Pacific Electric Utility Vehicle Key Players Market Share List
Table 2020-2030 Asia & Pacific Electric Utility Vehicle Demand List By Type
Table 2020-2025 Asia & Pacific Electric Utility Vehicle Price List By Type
Table 2020-2030 China Electric Utility Vehicle Market Size And Market Volume List
Table 2020-2030 China Electric Utility Vehicle Import & Export List
Table 2020-2030 India Electric Utility Vehicle Market Size And Market Volume List
Table 2020-2030 India Electric Utility Vehicle Import & Export List
Table 2020-2030 Japan Electric Utility Vehicle Market Size And Market Volume List
Table 2020-2030 Japan Electric Utility Vehicle Import & Export List
Table 2020-2030 South Korea Electric Utility Vehicle Market Size And Market Volume List
Table 2020-2030 South Korea Electric Utility Vehicle Import & Export List
Table 2020-2030 Southeast Asia Electric Utility Vehicle Market Size List
Table 2020-2030 Southeast Asia Electric Utility Vehicle Market Volume List
Table 2020-2030 Southeast Asia Electric Utility Vehicle Import List
Table 2020-2030 Southeast Asia Electric Utility Vehicle Export List
Table 2020-2030 Australia Electric Utility Vehicle Market Size And Market Volume List
Table 2020-2030 Australia Electric Utility Vehicle Import & Export List
Table 2020-2030 Europe Electric Utility Vehicle Market Size And Market Volume List
Table 2020-2030 Europe Electric Utility Vehicle Demand List By Application
Table 2020-2025 Europe Electric Utility Vehicle Key Players Sales List
Table 2020-2025 Europe Electric Utility Vehicle Key Players Market Share List
Table 2020-2030 Europe Electric Utility Vehicle Demand List By Type
Table 2020-2025 Europe Electric Utility Vehicle Price List By Type
Table 2020-2030 Germany Electric Utility Vehicle Market Size And Market Volume List
Table 2020-2030 Germany Electric Utility Vehicle Import & Export List
Table 2020-2030 France Electric Utility Vehicle Market Size And Market Volume List
Table 2020-2030 France Electric Utility Vehicle Import & Export List
Table 2020-2030 United Kingdom Electric Utility Vehicle Market Size And Market Volume List
Table 2020-2030 United Kingdom Electric Utility Vehicle Import & Export List
Table 2020-2030 Italy Electric Utility Vehicle Market Size And Market Volume List
Table 2020-2030 Italy Electric Utility Vehicle Import & Export List
Table 2020-2030 Spain Electric Utility Vehicle Market Size And Market Volume List
Table 2020-2030 Spain Electric Utility Vehicle Import & Export List
Table 2020-2030 Belgium Electric Utility Vehicle Market Size And Market Volume List
Table 2020-2030 Belgium Electric Utility Vehicle Import & Export List
Table 2020-2030 Netherlands Electric Utility Vehicle Market Size And Market Volume List
Table 2020-2030 Netherlands Electric Utility Vehicle Import & Export List
Table 2020-2030 Austria Electric Utility Vehicle Market Size And Market Volume List
Table 2020-2030 Austria Electric Utility Vehicle Import & Export List
Table 2020-2030 Poland Electric Utility Vehicle Market Size And Market Volume List
Table 2020-2030 Poland Electric Utility Vehicle Import & Export List
Table 2020-2030 Russia Electric Utility Vehicle Market Size And Market Volume List
Table 2020-2030 Russia Electric Utility Vehicle Import & Export List
Table 2020-2030 Mea Electric Utility Vehicle Market Size And Market Volume List
Table 2020-2030 Mea Electric Utility Vehicle Demand List By Application
Table 2020-2025 Mea Electric Utility Vehicle Key Players Sales List
Table 2020-2025 Mea Electric Utility Vehicle Key Players Market Share List
Table 2020-2030 Mea Electric Utility Vehicle Demand List By Type
Table 2020-2025 Mea Electric Utility Vehicle Price List By Type
Table 2020-2030 Egypt Electric Utility Vehicle Market Size And Market Volume List
Table 2020-2030 Egypt Electric Utility Vehicle Import & Export List
Table 2020-2030 Israel Electric Utility Vehicle Market Size And Market Volume List
Table 2020-2030 Israel Electric Utility Vehicle Import & Export List
Table 2020-2030 South Africa Electric Utility Vehicle Market Size And Market Volume List
Table 2020-2030 South Africa Electric Utility Vehicle Import & Export List
Table 2020-2030 Gulf Cooperation Council Countries Electric Utility Vehicle Market Size And Market Volume List
Table 2020-2030 Gulf Cooperation Council Countries Electric Utility Vehicle Import & Export List
Table 2020-2030 Turkey Electric Utility Vehicle Market Size And Market Volume List
Table 2020-2030 Turkey Electric Utility Vehicle Import & Export List
Table 2020-2025 Global Electric Utility Vehicle Market Size List By Region
Table 2020-2025 Global Electric Utility Vehicle Market Size Share List By Region
Table 2020-2025 Global Electric Utility Vehicle Market Volume List By Region
Table 2020-2025 Global Electric Utility Vehicle Market Volume Share List By Region
Table 2020-2025 Global Electric Utility Vehicle Demand List By Application
Table 2020-2025 Global Electric Utility Vehicle Demand Market Share List By Application
Table 2020-2025 Global Electric Utility Vehicle Key Vendors Sales List
Table 2020-2025 Global Electric Utility Vehicle Key Vendors Sales Share List
Table 2020-2025 Global Electric Utility Vehicle Key Vendors Revenue List
Table 2020-2025 Global Electric Utility Vehicle Key Vendors Revenue Share List
Table 2020-2025 Global Electric Utility Vehicle Demand List By Type
Table 2020-2025 Global Electric Utility Vehicle Demand Market Share List By Type
Table 2020-2025 Regional Electric Utility Vehicle Price List
Table 2025-2030 Global Electric Utility Vehicle Market Size List By Region
Table 2025-2030 Global Electric Utility Vehicle Market Size Share List By Region
Table 2025-2030 Global Electric Utility Vehicle Market Volume List By Region
Table 2025-2030 Global Electric Utility Vehicle Market Volume Share List By Region
Table 2025-2030 Global Electric Utility Vehicle Demand List By Application
Table 2025-2030 Global Electric Utility Vehicle Demand Market Share List By Application
Table 2025-2030 Global Electric Utility Vehicle Key Vendors Sales List
Table 2025-2030 Global Electric Utility Vehicle Key Vendors Sales Share List
Table 2025-2030 Global Electric Utility Vehicle Key Vendors Revenue List
Table 2025-2030 Global Electric Utility Vehicle Key Vendors Revenue Share List
Table 2025-2030 Global Electric Utility Vehicle Demand List By Type
Table 2025-2030 Global Electric Utility Vehicle Demand Market Share List By Type
Table 2025-2030 Electric Utility Vehicle Regional Price List

Figure Market Size Estimated Method
Figure Major Forecasting Factors
Figure Electric Utility Vehicle Picture
Figure 2020-2030 Regional Trade Balance
Figure 2020-2030 North America Electric Utility Vehicle Market Size And Cagr
Figure 2020-2030 North America Electric Utility Vehicle Market Volume And Cagr
Figure 2020-2030 South America Electric Utility Vehicle Market Size And Cagr
Figure 2020-2030 South America Electric Utility Vehicle Market Volume And Cagr
Figure 2020-2030 Asia & Pacific Electric Utility Vehicle Market Size And Cagr
Figure 2020-2030 Asia & Pacific Electric Utility Vehicle Market Volume And Cagr
Figure 2020-2030 Europe Electric Utility Vehicle Market Size And Cagr
Figure 2020-2030 Europe Electric Utility Vehicle Market Volume And Cagr
Figure 2020-2030 Mea Electric Utility Vehicle Market Size And Cagr
Figure 2020-2030 Mea Electric Utility Vehicle Market Volume And Cagr
Figure 2020-2025 Global Electric Utility Vehicle Market Volume And Growth Rate
Figure 2020-2025 Global Electric Utility Vehicle Market Size And Growth Rate
Figure 2025-2030 Global Electric Utility Vehicle Market Volume And Growth Rate
Figure 2025-2030 Global Electric Utility Vehicle Market Size And Growth Rate

Research Methodology

  • Market Estimated Methodology:

    Bottom-up & top-down approach, supply & demand approach are the most important method which is used by HDIN Research to estimate the market size.

1)Top-down & Bottom-up Approach

Top-down approach uses a general market size figure and determines the percentage that the objective market represents.

Bottom-up approach size the objective market by collecting the sub-segment information.

2)Supply & Demand Approach

Supply approach is based on assessments of the size of each competitor supplying the objective market.

Demand approach combine end-user data within a market to estimate the objective market size. It is sometimes referred to as bottom-up approach.

  • Forecasting Methodology
  • Numerous factors impacting the market trend are considered for forecast model:
  • New technology and application in the future;
  • New project planned/under contraction;
  • Global and regional underlying economic growth;
  • Threatens of substitute products;
  • Industry expert opinion;
  • Policy and Society implication.
  • Analysis Tools

1)PEST Analysis

PEST Analysis is a simple and widely used tool that helps our client analyze the Political, Economic, Socio-Cultural, and Technological changes in their business environment.

  • Benefits of a PEST analysis:
  • It helps you to spot business opportunities, and it gives you advanced warning of significant threats.
  • It reveals the direction of change within your business environment. This helps you shape what you’re doing, so that you work with change, rather than against it.
  • It helps you avoid starting projects that are likely to fail, for reasons beyond your control.
  • It can help you break free of unconscious assumptions when you enter a new country, region, or market; because it helps you develop an objective view of this new environment.

2)Porter’s Five Force Model Analysis

The Porter’s Five Force Model is a tool that can be used to analyze the opportunities and overall competitive advantage. The five forces that can assist in determining the competitive intensity and potential attractiveness within a specific area.

  • Threat of New Entrants: Profitable industries that yield high returns will attract new firms.
  • Threat of Substitutes: A substitute product uses a different technology to try to solve the same economic need.
  • Bargaining Power of Customers: the ability of customers to put the firm under pressure, which also affects the customer's sensitivity to price changes.
  • Bargaining Power of Suppliers: Suppliers of raw materials, components, labor, and services (such as expertise) to the firm can be a source of power over the firm when there are few substitutes.
  • Competitive Rivalry: For most industries the intensity of competitive rivalry is the major determinant of the competitiveness of the industry.

3)Value Chain Analysis

Value chain analysis is a tool to identify activities, within and around the firm and relating these activities to an assessment of competitive strength. Value chain can be analyzed by primary activities and supportive activities. Primary activities include: inbound logistics, operations, outbound logistics, marketing & sales, service. Support activities include: technology development, human resource management, management, finance, legal, planning.

4)SWOT Analysis

SWOT analysis is a tool used to evaluate a company's competitive position by identifying its strengths, weaknesses, opportunities and threats. The strengths and weakness is the inner factor; the opportunities and threats are the external factor. By analyzing the inner and external factors, the analysis can provide the detail information of the position of a player and the characteristics of the industry.

  • Strengths describe what the player excels at and separates it from the competition
  • Weaknesses stop the player from performing at its optimum level.
  • Opportunities refer to favorable external factors that the player can use to give it a competitive advantage.
  • Threats refer to factors that have the potential to harm the player.
  • Data Sources
Primary Sources Secondary Sources
Face to face/Phone Interviews with market participants, such as:
Manufactures;
Distributors;
End-users;
Experts.
Online Survey
Government/International Organization Data:
Annual Report/Presentation/Fact Book
Internet Source Information
Industry Association Data
Free/Purchased Database
Market Research Report
Book/Journal/News

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