Utility ATV to Dominate Global ATV Tire Market until 2024
Growing use of all-terrain
vehicles in different sectors such as recreational, sports and military to drive
global ATV tire market through 2024
According
to TechSci Research report, “Global
ATV Tire Market By Vehicle Type, By Demand Category, By Tire Size, By
Region, Competition, Forecast & Opportunities, 2024”, ATV tire market, globally, is expected to register growth
during 2019 - 2024, on account of increasing popularity of ATVs among youth.
Moreover, expanding population, lifestyle changes and increasing disposable
income are expected to positively influence global ATV tire market in coming
years.
Goodyear Tire & Rubber Company, Maxxis International, Michelin Tyre
Public Limited Company, Kenda Tires and Dunlop Tires are the leading players
operating in global ATV tire market. Companies operating in the market are
using organic strategies such as product launches, and mergers and
collaborations in order to register positive growth in the market. Michelin has
launched TWEEL SSL tires, which are based on airless technologies with high
durability when compared with pneumatic tires.
Global ATV tire market can be segmented based on vehicle type, demand
category and tire size. In terms of
vehicle type, ATV tire market can be segmented into utility, sports and youth.
Utility vehicle type is the dominating segment in global ATV tire market, as it
offers high performance with options for customizations and higher output.
Moreover, easy maintenance and economical pricing of utility ATVs as compared
to sports ATVs is expected to help the segment in maintaining its leading
market position during the forecast period. Based on tire size, the market can
be segmented into 8 inches, 12 inches, 16 inches and others. Generally,
all-terrain vehicles in 8-10 inches tire width are preferred. However, vehicles
can safely handle an increase in tire size by one or two, as it offers better
performance in ground clearance and traction.
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“North America is the largest market for ATV tires across the globe, on
account of increasing use of all-terrain vehicles in off-roading and
recreational activities in the region. Asia-Pacific ATV tire demand is
anticipated to increase in the next five years, owing to growing use of ATVs in
defense and rising purchasing power parity in developing economies such as
China and India.”, said Mr. Karan Chechi, Research Director with TechSci
Research, a research based global management consulting firm.
“Global ATV
Tire Market By Vehicle Type, By Demand Category, By Tire Size, By Region, Competition,
Forecast & Opportunities, 2024” has evaluated
the future growth potential of global ATV tire market and provides statistics &
information on market size, structure and future market growth. The report
intends to provide cutting-edge market intelligence and help decision makers
take sound investment decisions. Besides, the report also identifies and
analyzes the emerging trends along with essential drivers, challenges and
opportunities in global ATV tire Market.
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