Global All-Terrain Vehicle Tires Market 2019-2023 | Growing Developments in ATV Tires to Boost Growth | Technavio

The global all-terrain vehicle (ATV) tires market is expected to post a
CAGR of close to (1)% during the period 2019-2023, according to the
latest market research report by Technavio.

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Technavio has published a new market research report on the global all-terrain vehicle (ATV) market from 2019-2023. (Graphic: Business Wire)

A key factor driving the growth of the market is the growing use of ATVs
in recreational, sports, and military applications. The preference for
recreational activities and adventure is growing each passing year among
consumers globally, especially among tourists. Currently, countries in
North America and Europe dominate the global ATV tires market as sport
and off-road activities are highly popular in these regions. These
activities include off-roading, trails, mountain racing, and dirt
racing, where ATVs have wide applications. The use of ATVs for military
purposes is increasing as ATVs are finding varied applications among the
armed forces and police departments in emerging markets such as India as
well. This is resulting in greater usage of ATVs in recreational,
sports, and military applications, which is driving the market in focus.

As per Technavio, the growing developments in ATV tires will have a
positive impact on the market and contribute to its growth significantly
over the forecast period. This global
all-terrain vehicle tires market research report also
analyzes other important trends and market drivers that will affect
market growth over 2019-2023.

Global all-terrain vehicle tires market:
Growing developments in ATV tires

The global ATV tires market is witnessing advances in the designing and
manufacturing process of tires. Designers, engineers, and technicians
are working with prominent vendors to leverage their expertise and
knowledge to develop efficient ATV tires. The aim is to achieve higher
traction, precise handling, and superior durability to maneuver the
toughest of terrains. Over the last couple of years, the global ATV
tires market has witnessed an increasing number of tire launches. Many
prominent vendors have launched newer tires touting their improved
performance.

“There are no substitutes for ATV tires and, therefore, they cannot
be replaced by other types of tires, including passenger car tires and
commercial vehicle tires. This stems from the unique tread designs,
grooves, tread depths. and the overall profile of ATV tires, which make
them stand apart from other tires available in the market. These tires
have a different production process and are made with special rubber
compounds, nylon belt-reinforced tire construction, which raise the cost
of manufacturing. Thus, such advances in tire design and manufacturing
technology are further raising ATV tire manufacturing costs, and thereby
driving the market,” says a senior analyst at Technavio.

Global all-terrain vehicle tires market:
Segmentation analysis

This market research report segments the global all-terrain vehicle
tires market by application (utility ATV and sport ATV) and geographical
regions (North America, Europe, APAC, MEA, and South America).

The North American region led the market in 2018, followed by Europe,
APAC, MEA, and South America, respectively. However, during the forecast
period, the APAC region is expected to register the highest incremental
growth due to the emerging demand for ATVs in China and India.

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Five Forces Analysis

Market Segmentation

Geographical Segmentation

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Market Drivers

Market Challenges

Market Trends

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• Vendors covered
• Vendor classification
• Market positioning of vendors
• Competitive scenario

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View source version on businesswire.com: https://www.businesswire.com/news/home/20190522005328/en/