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.
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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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