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2020

ATV-UTV Tire Market

ATV-UTV Tire Market Size, Share, Competitive Landscape and Trend Analysis Report 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

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Author's: Abhay Singh| Lalit Katare | Lalit Janardhan Katare
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ATV-UTV Tire Market Statistics - 2026

The global ATV-UTV tire market was valued at $385.8 million in 2018, and is projected to reach $698.1 million by 2026, registering a CAGR of 7.5%. 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 Market 2019-2026

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.

ATV-UTV Tire Market
By Application
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ATV is projected as the most lucrative segments

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.

ATV-UTV Tire Market
By Industry Vertical
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Military is projected as the most lucrative segments

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.

ATV-UTV Tire Market
By Type
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Mud Tires is projected as the most lucrative segments

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.

ATV-UTV Tire Market
By Region
2026
North America 
Europe
Asia-Pacific
LAMEA

Asia-Pacific would exhibit the highest CAGR of 9.0% during 2019-2026.

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.

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.

ATV-UTV Tire Market Report Highlights

Aspects Details
ATV-UTV Tire Market By TIRE TYPE
By TIRE TYPE
  • Racing Tires
  • Sand Tires
  • Mud Tires
  • All-Terrain Tires
ATV-UTV Tire Market By APPLICATION
By APPLICATION
  • All-Terrain Vehicle (ATV)
  • Utility Terrain Vehicle (UTV)
ATV-UTV Tire Market By INDUSTRY VERTICAL
By INDUSTRY VERTICAL
  • Agriculture
  • Military
  • Mountaineering
  • Others
ATV-UTV Tire Market By Region
By Region
  • NORTH AMERICA  (US, CANADA, MEXICO)
  • EUROPE  (GERMANY, FRANCE, UK, REST OF EUROPE)
  • ASIA-PACIFIC  (JAPAN, CHINA, INDIA, REST OF ASIA-PACIFIC)
  • LAMEA  (LATIN AMERICA, MIDDLE EAST, AFRICA)
Key Market Players
Key Market Players

Duro Tire & Wheel Corp, Sedona Tire and Wheel, Kenda Tires, CARLISLE (subsidiary of The Carlstar Group, Llc), BRIDGESTONE GROUP, The Goodyear Tire & Rubber Company, Titan International, Inc, TOYO TIRE U.S.A (a subsidiary of Toyo Tire Corporation), Maxxis International, Michelin

Analyst Review

ATV-UTV tires are specially designed tires to maintain grip of vehicles while driving and at the same time are intended to provide better and efficient driving experience. With the increased trend toward adventurous sporting across the globe such as mountain biking followed by the usage of ATVs for general purpose propels the growth of such vehicles, which eventually leads to the growth of the ATV-UTV Tire market. Numerous developments have been carried out by companies such as introduction of SxS tires by Toyo Tires along with different partnerships carried out by companies leads to the growth of ATV-UTV tire market across the globe. 

Factors such as rise 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 propel the growth of the market. Moreover, factors such as growth in the market of retreading tires followed by the volatile price of raw materials are the factors that hinder the market growth across the globe. However, anticipated rise in the automobile sector along with production of safer ATVs and UTVs propel the growth of market.

Among the analyzed regions, currently, North America is the highest revenue contributor, and is expected to maintain the lead during the forecast period, followed by Asia-Pacific, Europe, and LAMEA.

Author Name(s) : Abhay Singh| Lalit Katare | Lalit Janardhan Katare
Frequently Asked Questions?

The new competitive developments in ATV-UTV Tire market are the different innovations carried out by top companies operating effectively in ATV-UTV Tire market. For instance, CARLISLE has developed the new versa turf tire which is designed with a radial construction for reduced turf impact. Such developments lead to the growth of the market.

Based on type, the all-terrain tires hold a major market share of ATV-UTV Tire. This is due to the innovations carried out by different companies for providing better and efficient tires for ATV and UTVs which supplements its market share in ATV-UTV Tires.

The report sample for ATV-UTV Tire market report can be obtained on demand from the website.

The potential customers of the ATV-UTV Tire market are the ATV-UTV vehicle manufacturers such as Honda Motor Company, Kawasaki Heavy Industries Ltd., Suzuki Motor Corporation and others who are indulged in the manufacturing of ATV and UTVs.

The leading players in ATV-UTV Tire market are Carlisle, Kenda Tires, Michelin, Titan International, The Goodyear Tyre & Rubber Company and others who hold a major market share in the industry.

The company profiles of the top ten players of the ATV-UTV Tire market can be obtained from the company profile section mentioned in the report. This section includes analysis of top ten player’s operating in the ATV-UTV Tire industry along with their last three year revenue, segmental revenue, product offerings, key strategies adopted, and geographical revenue generated.

Based on the global ATV-UTV Tire market analysis, North America is the major revenue contributor in 2018 and is expected to provide more business opportunities during the forecast period as well as is expected to see a lucrative growth during the forecast period.

The service providers of the ATV-UTV Tire industry are the key players manufacturing tires which have a wider application in ATVs and UTVs. This also includes the aftermarket sellers who sell the ATV and UTV tires on customer demand.

The key growth strategies adopted by the ATV-UTV Tire industry players includes innovations and developments of better and efficient products which have a wider application in ATVs and UTVs. These strategies opted by various industry players is leading to their growth.

ATV-UTV Tire market have a wider application in agriculture, military and mountaineering which supplements the growth of market across the globe. Also, various types of tires are available in the market having application in ATV and UTVs which supplements the growth of the market.

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ATV-UTV Tire Market

Global Opportunity Analysis and Industry Forecast, 2019-2026