ATV-UTV Tire Market to Reach $698.1 Mn, Globally, by 2026 at 7.5% CAGR, Says Allied Market Research

PORTLAND, Ore., Oct. 1, 2020 /PRNewswire/ -- Allied Market Research recently published a report, titled, "ATV-UTV Tire Market by Type (Racing Tires, Sand Tires, Mud Tires, and All Terrain Tires), Application (All-Terrain Vehicle (ATV) and Utility Terrain Vehicle (UTV)), and Industry Vertical (Agriculture, Military, Mountaineering, and Others): Global Opportunity Analysis and Industry Forecast, 2019–2026". According to the report, the global ATV-UTV tire industry garnered $385.8 million in 2018 and is expected to reach $698.1 million by 2026, growing at a CAGR of 7.5% from 2019 to 2026.

Incentives for market growth

Increase in trend of adventure sports & recreational activities, adoption of ATV-UTV in military activities, and government rules to support driving ATVs and UTVs on roads have boosted the growth of the global ATV-UTV tire market. However, growth in the retreading tires market and volatile prices of raw materials hamper the market growth. On the contrary, rise in the automobile sector and production of safer ATVs and production of safer ATVs and UTVs are expected to create lucrative opportunities in the near future.

Request Sample Report at https://www.alliedmarketresearch.com/request-sample/6350 

Mountaineering segment dominated the market

The mountaineering segment held the largest share in 2018, accounting for nearly three-fifths of the global ATV-UTV tire market, owing to increased trend towards mountaineering as a sports activity. However, the military segment is expected to portray the highest CAGR of 11.3% during the forecast period, due to increased adoption of ATVs and UTVs in different military applications such as border patrolling and others.

ATV segment to manifest the fastest growth through 2016

The ATV segment is anticipated to register the fastest CAGR of 8.8% during the forecast period, owing to increased demand for ATVs across the globe as they are flexible, easy to ride and are useful in numerous aspects. However, the UTV segment held the largest share in 2018, accounting for more than two-thirds of the global ATV-UTV tire market, as they are safer to drive compared to other sporting vehicles and are useful for several applications such as construction, search & rescue operations, and farming.

North America held the lion's share

The global ATV-UTV tire market across North America held the largest share in 2018, accounting for around half of the market. This is due to the wider usage of ATVs and UTVs in the region in terms of sporting and other activities. However, the market across Asia-Pacific is estimated to hit 9.0% during the study period, owing to the increasing trend towards ATVs and UTVs that are high in performance as well as have better and efficient components installed in them.

For purchase inquiry at https://www.alliedmarketresearch.com/purchase-enquiry/6350 

Major market players

• Bridgestone
• Duro Tire
• Carlisle
• KENDA Tire
• Goodyear
• Michelin
• Maxxis
• Titan International Inc.
• Sedona Tire and Wheel
• Toyo Tire

Similar Reports:

Pneumatic Tire Market is Estimated to Generate $287.5 Billion by 2020

Automotive Tubeless Tire Market Projected to Grow at a CAGR of 6.2% by 2026

Advanced Tires Market Consumption to Reach $1,349.7 million by 2030

Automotive Tire Market is Projected to Reach $306 billion by 2022

Pre-book Offer 12% Discount:         

Green Tire Market

Tire Mold Market

About Allied Market Research

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP, based in Portland, Oregon. AMR provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

AMR introduces its online premium subscription-based library Avenue, designed specifically to offer cost-effective, one-stop solution for enterprises, investors, and universities. With Avenue, subscribers can avail an entire repository of reports on more than 2,000 niche industries and more than 12,000 company profiles. Moreover, users can get an online access to quantitative and qualitative data in PDF and Excel formats along with analyst support, customization, and updated versions of reports.

Contact:

David Correa
5933 NE Win Sivers Drive
#205, Portland, OR 97220
United States
USA/Canada (Toll Free): 1-800-792-5285, 1-503-894-6022, 1-503-446-1141
UK: +44-845-528-1300
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060
Fax: +1(855)550-5975
[email protected]  
Web: www.alliedmarketresearch.com 
Allied Market Research Blog: https://blog.alliedmarketresearch.com  
Follow Us on | Facebook | Twitter | LinkedIn |

SOURCE Allied Market Research