Thailand Utility Terrain Vehicle (UTV) Market by Displacement (Below 400 cc, 400-800 cc, and Above 800 cc), by Propulsion Type (Gasoline, Diesel, and Electric), by Application (Utility, Sports, Recreation, Military, Construction, and Others), and by End User (Individual Consumers, Commercial Users, and Government and Defense Agencies) – Global Opportunity Analysis and Industry Forecast 2025-2030
Industry: Automotive & Transportation | Publish Date: 25-Apr-2025 | No of Pages: 198 | No. of Tables: 158 | No. of Figures: 83 | Format: PDF | Report Code : AT3295
US Tariff Impact on Thailand 4WD UTV Market
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Thailand 4WD UTV Market Overview
The Thailand 4WD UTV Market size was valued at USD 46.4 million in 2024, and is predicted to reach USD 71.1 million by 2030, at a CAGR of 6.7% from 2025 to 2030. Addition to that, it had a market volume of 4 thousand units in 2024, and is predicted to reach 8 thousand units by 2030 at a CAGR of 10.7% from 2025 to 2030.
The growing infrastructure sector and investment towards sports industry are key factors driving the Thailand 4WD UTV market growth. However, safety issues and the possibility of accidents slows down the potential growth of the sector. On the other hand, the uptake and use of electric powertrains bring bright prospects for growth, enabling sustainable, clean and efficient vehicle solutions for a variety of applications. Major industry players such as Polaris Inc., John Deere and others are actively pursuing plans to expand their market and provide additional products by initiating steps such as product developments and technology upgradation. All these are expected to drive adoption and innovation, and drive market growth and meet changing industry needs for longer run.
Growing Tourism Sector Fuels the Growth of the Market
The expansion of Thailand's tourism industry is a key driver of market growth, supported by a rising number of domestic and international travelers seeking recreation and adventure across the country’s diverse geography. Thailand’s mountains, jungles, and beaches generate increasing demand for robust utility vehicles that are ideal for ecotourism, off-road exploration, and guided sightseeing. For instance, the tourism industry in Thailand generated a revenue of USD 83.13 billion in 2024. The growing popularity of adventure tourism is contributing to strong demand for UTVs, which is positively impacting market growth.
Growing Construction Industry Sector Further Boosts the Market
The growth of the construction industry in Thailand further enhances the expansion of the market as the need increases for versatile and durable vehicles to support construction tasks in challenging environments. As infrastructure projects and urban development continue to rise, UTVs play a crucial role in efficiently navigating job sites and transporting equipment across rugged areas. According to the latest report from the South East Asia Iron and Steel Institute, the construction sector in Thailand recorded a 2.9 percent growth in 2024 compared to the previous year. This steady expansion in construction activity is directly fueling demand for utility vehicles, accelerating market development.
Safety Concerns and the Risk of Accidents Hinder the Growth of the Market
Concerns regarding safety and the potential for accidents hinder the growth of the market, as utility vehicles can be hazardous, especially when operated at high speeds or in difficult terrains. These risks may discourage adoption among inexperienced users or in regions with limited safety infrastructure.
Integration of Electric Powertrains Creates Future Growth Opportunities for the Market
The integration of electric powertrains opens up future growth opportunities for the market, as manufacturers shift towards environmentally conscious solutions in line with regulatory demands and consumer preferences. Volcon Inc., for example, introduced the HF1 electric UTV, a high-performance utility vehicle designed for three riders seated in a straight row. This model merges advanced technology with rugged durability to cater to off-road enthusiasts. Electric UTVs provide several benefits, including lower emissions, reduced operating costs, and quieter performance, making them ideal for agricultural, construction, and recreational applications.
Competitive Landscape
The promising players operating in the Thailand 4WD UTV industry includes John Deere, Polaris Inc., Kubota Corporation, Honda Motorsports, CFMOTO, HISUN, Jiangsu LINHAI Power Machinery Group Co., Ltd., Massimo Motor Sports, LLC, Linhai, Bobcat Company, Toro Company, Kawasaki Heavy Industries Ltd., Bad Boy Mowers, Hustler Turf, CLUB CAR, Yamaha Motor Co., Ltd., Kymco, Landmaster, Textron Inc. (Arctic Cat), Bombardier Recreational Products (Can-Am) and others.
Thailand 4WD UTV Market Key Segments
By Displacement
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Below 400cc
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400cc-800cc
By Application
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Utility
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Sports
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Recreation
-
Military
-
Construction
-
Other Application
By End User
-
Individual Consumers
-
Commercial Users
-
Government and Defense Agencies
By Propulsion Type
-
Gasoline
-
Diesel
-
Electric
Key Players
-
John Deere
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Polaris Inc.
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Kubota Corporation
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Honda Motorsports
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CFMOTO
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HISUN
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Jiangsu LINHAI Power Machinery Group Co., Ltd.
-
Massimo Motor Sports, LLC
-
Linhai
-
Bobcat Company
-
Toro Company
-
Kawasaki Heavy Industries Ltd.
-
Bad Boy Mowers
-
Hustler Turf
-
CLUB CAR
-
Yamaha Motor Co., Ltd.
-
Kymco
-
Landmaster
-
Textron Inc (Arctic Cat)
-
Bombardier Recreational Products (Can am)
REPORT SCOPE AND SEGMENTATION:
|
Parameters |
Details |
|
Market Size Value in 2024 |
USD 46.4 Million |
|
Revenue Forecast in 2030 |
USD 71.1 Million |
|
Value Growth Rate |
CAGR of 6.7% from 2025 to 2030 |
|
Market Volume in 2024 |
4 Thousand Units |
|
Market Volume in 2030 |
8 Thousand Units |
|
Value Growth Rate |
CAGR of 10.7% from 2025 to 2030 |
|
Analysis Period |
2024–2030 |
|
Base Year Considered |
2024 |
|
Forecast Period |
2025–2030 |
|
Market Size Estimation |
Billion (USD) |
|
Growth Factors |
|
|
Companies Profiled |
20 |
|
Customization Scope |
Free customization (equivalent up to 80 working hours of analysts) after purchase. Addition or alteration to country, regional, and segment scope. |
|
Pricing and Purchase Options |
Avail customized purchase options to meet your exact research needs. |
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