|
International
Market Solutions Announces New 2008 Market Study of the
Small, Task-Oriented Vehicle Market
Recent Gains in Privately-Owned and Utility Segments
Will Continue, Per Forecast
Electric Power to Surge Over Next 5 Years-
Environment, Fuel Prices Major Factors
In a comprehensive analysis of trends and latest developments in the small, task-oriented vehicle market, International Market Solutions, LLC, finds strong gains in major non-fleet golf car markets and projects significant growth over the next five years.
The study, fourth in a series of biannual studies since 2000,
is entitled, Golf Car-Type Vehicles and the Emerging Market
for Small, Task-Oriented Vehicles in the United States: Trends
2000-2006; Forecasts to 2012. The small, task-oriented vehicle
market includes golf-car type vehicles, privately-owned small
vehicles and NEVs, and light and heavy duty utility vehicles.
A detailed table of contents may be accessed by clicking on www.internationalmarketsolutions.com/brochure/gc4.brochure08.pdf
and going to the highlighted headline.
Stephen Metzger, IMS Managing Director and principal author of the study, states, "We have seen continued market strength in the utility and privately-owned markets during the 2000-2006 trend period, as well as in 2007." He adds, "While the golf car industry is successfully navigating a transition from its mainstay segment, fleet golf cars, golf car manufacturers and other historically distinct industry segments, particularly industrial/commercial utility and recreational vehicle manufacturers, are increasingly competitive in what we at IMS have identified as the small, task-oriented vehicle, or STOV market."
The small, task-oriented vehicle industry marked several milestones in the past two years that will help drive expansion in the next five years. These include:
- Key new product entries and innovative technologies that boost performance and comfort, including the first adaptation of AC electric power to a major golf car-type vehicle manufacturer's product line;
- Continued evidence of the globalization of the small vehicle industry, particularly in the sourcing of parts and accessories;
- A major concentration of sales efforts and capacity expansion in off-road vehicles;
- A tightening of used vehicle supplies, pointing to increases in the privately-owned (personal use) market.
In the outlook IMS forecasts substantial market gains for:
- New vehicles in the privately-owned market, including increases in neighborhood electric vehicles;
- New, privately-owned vehicles and utility vehicles, where double-digit growth is forecast;
- Electric-powered vehicles in all segments with the possible exception of heavy duty utility vehicles, which will continue to be mainly ICE.
"Heading into an environment of continuing increases in the cost of hydrocarbon- and bio-based fuels and stringent regulation of emissions, IMS sees major opportunities for small vehicle manufacturers across all segments, especially when it comes to electric power" states Metzger. "Our study lays the groundwork not only for sales and marketing strategies, but long term corporate planning, as well."
<<Back to Homepage |
