ATV-UTV Tire Market is Projected to Reach USD 698.1 million by 2026 - Valuates Reports

North America was the highest revenue contributor, accounting for $196.6 million in 2018, and is estimated to reach $327.8 million by 2026, with a CAGR of 6.4%. Asia-Pacific is estimated to reach $258.6 million by 2026, at a significant CAGR of 9.0%. North America and Asia-Pacific collectively accounted for around 84.1% share in 2018, with the former constituting around 51.0% share. Asia-Pacific and Europe are expected to witness considerable CAGRs of 9.0% and 8.2%, respectively, during the forecast period. The cumulative share of these two segments was 44.2% in 2018, and is anticipated to reach 48.7% by 2026.

ATV-UTV tires are special type of tires, which are designed to operate effectively and efficiently in special conditions such as mountaineering and military operations. ATV-UTV tires are fitted across the rim of a wheel to transfer load of a vehicle from axle to the ground. They are made of high-performance rubber that consists of tread, joint less cap piles, beads, and other materials; such as synthetic rubber, carbon black, and fabric, which are responsible for effective working of vehicles. The major function of tires is to protect wheel rim and offer tractive force between the road surface and vehicle. Since, it is manufactured from rubber, it also provides a flexible cushion, thereby reducing the impact of vibrations and absorbing any shock for the vehicle. With the increased trend toward adventurous sporting across the globe, demand for better, efficient, and long-lasting tires has increased, which supplements the growth of the ATV-UTV tire market across the globe.

Various type of tires for ATVs and UTVs have been designed and introduced by different companies, which provide a better grip while driving and at the same time offer better driving experience. The rise in trend of adventurous sporting across the globe such as mountain biking and others along with the use of ATVs for general purpose in different countries, fuel the ATV-UTV tire market growth across.

Factors such as increase in trend of adventure sports & recreational activities, adoption of ATV and UTV in military activities, and government rules to support driving ATVs and UTVs on roads supplement the growth of the ATV-UTV tire industry. Moreover, factors such as growth in market of retreading tires followed by volatile price of raw materials hinder the growth of the ATV and UTV tire market. However, anticipated rise in the automobile sector along with production of safer ATVs and UTVs is estimated to boost the market growth.

The global ATV-UTV tire market is segmented on the basis of type, application, industry vertical, and region. By type, it is categorized into racing tires, sand tires, mud tires, and all terrain tires. By application, it is categorized into all-terrain vehicle (ATV) and utility terrain vehicle (UTV). By industry vertical, it is categorized into agriculture, military, mountaineering, and others. Region wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

Key players including Bridgestone, Carlisle, Duro Tire, Goodyear, KENDA Tire, Maxxis, Michelin, Sedona Tire and Wheel, Titan International Inc., Toyo Tire and others account for a major ATV-UTV Tire market share.



Rise In Trend Of Adventure Sports & Recreational Activities

Presently, tourists are majorly attracted toward ATV and UTV trails and related recreational activities. Many tourism councils are introducing ATV and UTV related activities by building tracks for these vehicles to attract and retain visitors. For instance, UTV takeover in Coos Bay, (U.S.) is an event, which takes place on Box Car Hill Campground just outside the city of Coos Bay (U.S.). This event is has gained remarkable popularity as anyone capable of driving UTVs can participate in the race. Therefore, increase in trend of such adventure sports attract the tourists, which ultimately propels the growth of the ATV-UTV tire market.



Adoption Of Atvs And Utvs In Military Activities

There is an increase in the demand for ATVs and UTVs for military activities such as transportation of troops and driving on difficult terrains. For instance, the U.S. Army has demanded ATVs with features such as fast troop transportation ability, capability of carrying nine fully-armed soldiers, agility, and minimum speed of 55 mph, which, in turn, creates a positive impact on the ATV-UTV tire market. Thus, rise in demand for ATVs and UTVs from military troops is expected to drive the growth of the market during the forecast period.



Growth In The Retreading Tires Market

The retreading ATV-UTV tire market is witnessing huge investments from manufacturers. This fosters the growth of the market. Retreading is the process that replaces the tread on worn tires. It helps save tire and material cost to a huge extent, when compared to manufacturing a new one. Retreading directly reduces the aftermarket cost of OEMs. Factors such as existence of cheaper tire brands and discomfort of roads are responsible for the growth of the retreading tire market. Thus, the retreading tire market poses a serious threat to the ATV-UTV tire market.
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Anticipated rise in the automobile sector

The world automotive environment is changing at a rapid pace due to globalization. This leads to rapid rise in the demand for vehicles across all segments in all countries. Thus, there is a global expansion of the automobile sector. To keep the environment clean, safe, and move with the rest of the world, the auto industry across the globe is expected to eventually shift to electric vehicles. This shift in electric vehicles demand better and effective tires with longer life as compared to ICE vehicles. This factor directly creates opportunities for the growth of ATV-UTV tire market.



Key Benefits for Stakeholders

This study presents the analytical depiction of the global ATV-UTV tire market analysis along with current trends and future estimations to depict imminent investment pockets.
The overall ATV-UTV tire market opportunity is determined by understanding the profitable trends to gain a stronger foothold.
The report presents information related to the key drivers, restraints, and opportunities of the global ATV and UTV Tire market with a detailed impact analysis.
The current ATV-UTV Tire market is quantitatively analyzed from 2018 to 2026 to benchmark the financial competency.
Porter’s five forces analysis illustrates the potency of the buyers and suppliers in the industry.

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Key Market Segments

By Type

Racing Tires
Sand Tires
Mud Tires
All Terrain Tires
By Application

All-Terrain Vehicle (ATV)
Utility Terrain Vehicle (UTV)
By Industry Vertical

Agriculture
Military
Mountaineering
Others
By Region

North America
U.S.
Canada
Mexico
Europe
Germany
France
UK
Rest of Europe
Asia-Pacific
Japan
China
India
Rest of Asia-Pacific
LAMEA
Latin America
Middle East
Africa

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