Small Vehicle Resource, LLC Announces New Market Research Study of the Small, Task-Oriented Vehicle Market

Brooklyn, NY, March 07, 2013 --(PR.com)-- Small Vehicle Resource, LLC (SVR) has published the sixth in a series of market research reports on the small, task-oriented vehicle (STOV) industry. The report covers small vehicle products ranging from golf cars, light transport and portage vehicles built off golf car frames, to heavy duty traditional turf vehicles and off-road utility and recreational vehicles (side-by-sides). The study concentrates on the product side of an estimated $12+ billion industry, including parts and service.

SVR is the successor company to International Market Solutions, LLC with the same principals involved. “SVR,” explains Managing Director, Stephen Metzger, “is an appropriate rebranding of our research efforts, as ‘Small Vehicle Resource’ gives clear view of our focus in the STOV industry.”

The Small, Task-Oriented Vehicle Market in the United States, Trends from 2006-2012, Forecasts to 2016 contains analyses and the outlook for:

• The golf car industry–the market for fleet golf cars;
• Privately-owned vehicles–golf cars, upgraded golf cars, low-speed vehicles (LSVs);
• Utility vehicles built on golf car or modified golf car frames;
• Heavy duty utility vehicles, focusing on off-road side-by-side vehicles;
• Non-traditional, or “crossover” competition across industry segments;
• Used vehicles as viable options to new vehicles;
• Technologies that will have an impact on the industry;
• State of the market survey from dealers’ perspective;
• Latest regulations on small vehicles ownership and use.

“Small, task-oriented vehicle or STOV is the generic term we created to describe exactly what these vehicles do,” states Metzger. “They are designed for a relatively narrow range of tasks, such as golf, personal transportation, haulage and other work functions, but for the most part are built off of a few universally applicable body frames and drive trains.” “This sets the stage,” Metzger continues, “for substantial crossover competition, with OEMs moving out of their traditional markets–a trend and development we analyze in detail.”

The study also details trends in the privately-owned vehicle market. “Personal transportation use is playing a bigger role in the STOV universe,” states co-author and Managing Director, Marc Cesare. “LSVs are the most viable pure electric personal use vehicles, with on-road electrics sales very disappointing so far.” Further, he continues, “Electric power is being introduced in wider and wider range of small vehicles.” The study provides a detailed overview of regulations applying to STOVs–and LSVs in particular.

Cesare concludes: “Our intensive look at the data and the evidence suggests an industry with significant segment growth, and overall, a market with improved prospects and an expected performance exceeding that of the economy in general.”

Major findings in the study are:

• SVR forecasts new vehicle production for the overall STOV market to grow 18% from estimated 462,000 units in 2012 to approximately 545,000 units in 2016;

• Excluding the off-road segment which is predominantly ICE, electric power continues to gain significantly in units sold, across all segments of the golf car-type market, that includes golf cars, privately-owned vehicles, and light portage and transport vehicles increasing from 72% in 2007 to a projected 82% in 2016;

• Recovery from the recession has been spotty with some STOV market sub-segments growing strongly while others continue to struggle;

• STOVs continue to be upgraded, adopting automotive features and standards, which are starting to migrate from high-end recreational UTVs into other STOV segments, promoting market growth;

• Golf cars remain a staple product in both new and used vehicle markets but the fleet market continues to face the challenge of a declining golf course population;

• The high-end off-road market weathered the recession and slow recovery very well. The promise of profits is increasing segment competition, marked by frequent, feature laden model introductions and new sub-segments like crossover UTVs;

• Commercial markets are a high growth area for LSVs while the personal transportation market without tax credits offers only low to moderate growth;

• Schools, municipalities and corporate customers are increasingly turning to LSVs to fulfill “green” policies with safety features a strong decision-making factor as well;

For full information on the study contact Stephen Metzger at (914) 293-7577 or e-mailing smetzger@smallvehicleresource.com