Rising Consumer Demand For ATVs Furthers The Growth Of Off-The-Highway Tire Market

Researchmoz.us has announced the addition of a report, titled “Global Off-The-Highway Tire Market Professional Survey Report 2019”. The research report highlights key factors influencing the current scenario of global off-the-highway tire market. It sheds light on various growth components prevalent in the market during the forecast period of 2019 to 2025. The professional report shares detailed insights regarding various regional off-the-highway tire markets along with their share, size, and status to gain a global perspective of the complete market conditions. It provides segmental analysis of global off-the-highway tire market with segments categorized by region, by company, by country, by application, and by type. It assesses production volume and historic as well as current value and pricing analysis in global off-the-highway tire market during the forecast period.

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Off-the-highway tires are usually utilized in vehicles that are used for off-the-road transportation. Some of the most common examples of these vehicles would be mountain bikes, all-terrain vehicles, and ATVs. They are also used in a number of industries for transportation of goods and raw materials such as mining, agriculture, and construction. Off-the-highway tires are specifically designed to allow transportation in geographical areas or terrains with uneven topography. They are built and designed differently than regular car and motorcycle tires to cope with harsh and unpredictable terrain where roads are not accessible or even built. Rising demand for transportation of materials obtained through mining is motivating the growth of global off-the-highway tire market.

Rising consumer demand for ATVs (All Terrain Vehicles) is one of the key drivers for the global off-the-highway tire market. This surge in demand is attributed to the ability of ATVs to travel rough and hard to scale terrains as well as their application in adventure sports. Other key factors influencing the growth in global off-the-highway tire market include increasing adoption of electronic tire-pressure monitoring systems in manufacturing of off-the-road vehicles. These systems indicate when the tire pressure is uneven, to avoid accidents and elongate the lifespan of these tires. Segments in global off-the-highway tire market by product type include ATV tires, snow tires, and mud tires.

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Increasing demand from medium sized farmers is expected to positively impact the global off-the-highway tire market in coming years. Rapid industrialization and surging construction activities are also motivators for global off-the-highway tire market. However, high cost of natural and synthetic petroleum-based rubbers are impeding the growth in global off-the-highway tire market. Other market restraints include low prices of the off-the-road tires and fluctuating prices of raw materials required for the production of these tires. Segments in global off-the-highway tire market by application are off-road vehicles, mountain bikes, and off-road motorcycles.

The research report highlights key regions as well as leading nations operating within the global off-the-highway tire market. It shares valuable insights regarding various investment and business expansion opportunities for industry players and stakeholders in global off-the-highway tire market. The study also presents information regarding the region- and country- specific policy frameworks and legal guidelines. Key regions assessed in the professional survey report on global off-the-highway tire market include North America, Europe, and Asia Pacific (including Japan, India, China, and Southeast Asia). Rapid industrial developments and surging demand for enhanced construction activities are anticipated to boost the Asia Pacific off-the-highway tire market in coming years.

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The study sheds light on the competitive landscape of the global off-the-highway tire market. It provides vital information about key incumbent players in the market along with their company profile, production capacity, and product inventory. The research report also shares insights regarding sales, production volume, product price, profit margin, and revenue of these major players in global off-the-highway tire market during the forecast period of 2019 to 2025. Some of the major incumbent players covered in the business intelligence study on global off-the-highway tire market include Michelin, ATG, Balkrishna Industries Ltd., Titan International Inc., Cooper Tire and Rubber Co., Bridgestone Corp., Continental AG, Goodyear Tire and Rubber Co., Yokohama Rubber Co. Ltd., and Toyo Tire.

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As the coronavirus disease (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the purchase behaviors of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.

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