Today, PSR PowerTALK Editor Joe Delmont presents the Power Systems Research 2021 North American Utility Vehicle production outlook. We estimate that North American wheel loader production this year will reach 440,100 units; about even with 2020 levels.
This forecast has been developed by Carol Turner, Senior Analyst – Global Operations, at Power Systems Research.
Transcript
Welcome to the PSR PowerTALK podcast, produced by Power Systems Research.
00:06
From Power Systems Research, I’m Joe Delmont, editor of PSR PowerTALK. Today we’ll discuss a data point covering 2021 utility vehicle production in North America.
This forecast has been developed by Carol Turner, Senior Analyst of Global Operations at Power Systems Research. Carol provides annual production forecasts for important equipment applications.
00: 34
Utility vehicles, sometimes called UTVs or side-by-side machines, can accommodate up to six passengers and are primarily designed for off-road use, although they can be used for industrial activities and as personnel carriers on campuses.
00: 54
UTVs are gaining in popularity because of their flexibility and power. And are replacing ATV’s in many cases because ATV’s generally are limited to two persons seated, one behind the other and aren’t as flexible as UTVs.
01:12
In 2021, we estimate that North American UTV production will reach 440,100 units, down about 400 units, or 9%, from the 440,500 units produced last year.
01:30
About 40% of US production is exported worldwide, up to 85% of Mexico’s UTV production is for North American markets and Canada exports about 90% of its small 1700-unit production.
01:48
In 2019, North American production was 424,800 units. Production climbed almost 16,000 units, or about 4% in 2020, to that 440,500-unit level we discussed. Despite negative COVID related factors, the pandemic actually fed the demand for utility vehicles from recreational and industrial uses to military applications.
02:19
This is known as the pandemic paradox, because sales surged during lockdowns. The popularity of outdoor activities has increased, in part because of the pandemic. And people are enjoying off-road riding in the comfort and safety that is provided by UTVs.
02:39
The growth also comes from stabilization of the overall economy. Demand for products in the golf industry, federal government incentives, and the desire for new equipment with greener technology, especially within the sport and utility sectors.
02:56
Expect UTV production in North America to increase up to 5% by 2025. The leading UTV manufacturers in North America are Polaris — which has 32% of total North American production with its plants in the US and Mexico, in second position is Deere — with combined plant totals of 11.5, third is Kawasaki with 11%, just edging out Honda by only about 125 units which also has 11%.
There are nearly two dozen other manufacturers of UTVs in North America — including Arctic Cat, Clubcar, Kawasaki, Textron, Toro, and Yamaha.
03:36
This data is pulled from two of the major Power Systems Research databases, OE Link — the database of OEM production and forecast data, and EnginLink — which provides engine production forecasts and specification data.
Look for data point reports every month in the PSR PowerTrack news report and on this podcast.
Contact us for more information on other off-road products, such as mixers and agricultural equipment.
04:22
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