The ATV UTV tire market share is expected to increase to 43.57 million units from 2021 to 2026, at a CAGR of 4.49%.
This ATV UTV tire market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers ATV UTV tire market segmentation by application (UTV and ATV) and geography (APAC, Europe, North America, Middle East and Africa, and South America). The ATV UTV (all-terrain vehicle and utility terrain vehicle) tire market report also offers information on several market vendors, including Bridgestone Corp., Cheng Shin Rubber Ind. Co. Ltd., Hwa Fong Rubber Ind. Co. Ltd., Kenda Rubber Industrial Co. Ltd., Maxxis International, Michelin Group, OTR Wheel Engineering Inc., Sedona Tire and Wheel, The Carlstar Group LLC, TIANJIN WANDA TYRE GROUP Co. Ltd., Titan International Inc., and Toyo Tire Corp. among others.
What will the ATV UTV Tire Market Size be During the Forecast Period?
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ATV UTV Tire Market: Key Drivers, Trends, and Challenges
The increasing trend toward adventurous sporting is notably driving the ATV UTV tire market growth, although factors such as price fluctuations of rubber may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the ATV UTV tire industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Key ATV UTV Tire Market Driver
The increasing trend toward adventurous sporting is one of the key drivers supporting the all-terrain vehicle and utility terrain vehicle tire market growth. Primarily, North America and Europe are the major regions that are experiencing growth in the number of mountain racing and dirt racing activities and enthusiasts. In view of this, associations such as the Canadian Council of Snowmobile Organizations and North America Snowmobile conduct sports events every year, Moreover, there is an increasing number of off-road vehicles due to increasing recreational and adventure sports activities, which has made it imperative for users to undertake regular maintenance with frequent replacement of worn-out vehicle parts and components. Off-road vehicles experience higher vibrations than legal on-road vehicles, which makes it necessary to have high-performance and long-lasting tires. Thus, the increasing number of off-road vehicles may drive market growth during the forecast period.
Key ATV UTV Tire Market Trend
Increasing application in defense and military is one of the key ATV UTV (all-terrain vehicle and utility terrain vehicle) tire market trends contributing to the market growth. All terrain vehicle (ATV) tires are specially designed to provide a better and more efficient driving experience in untarred or unsurfaced terrain. Meanwhile, the operations carried out by border security organizations and anti-terrorist agencies in coastal or remote areas require quick mobility and cargo-carrying capacities tires such as ATV and UTV tires, which are highly essential. Moreover, Military and defense activities include off-roading, trails, mountain racing, and dirt racing, where ATV and UTV tires have wide applications. Thus, such wide applications of ATV-UTV tires will drive market growth during the forecast period.
Key ATV UTV Tire Market Challenge
Price fluctuations of rubber is one of the factors hampering the ATV UTV tire market growth. For instance, the prices of natural rubber increased by 6.4% YoY in August 2021, which has been a divergence from the double-digit trends seen since August 2020. Also, synthetic rubber prices were up by 30% YoY. Also, the major natural rubber-producing countries have been required to reduce their production capacity due to the fluctuations in rubber prices. For example, Thailand has reduced its natural rubber output by 200,000 tons. A decline in exports along with changing regulations in major natural rubber-producing countries is expected to negatively impact the growth of the rubber tires industry, which, in turn, will challenge the growth of the global ATV and UTV tire market during the forecast period.
This ATV UTV tire market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.
Parent Market Analysis
Technavio categorizes the global all-terrain vehicle (ATV) and utility terrain vehicle (UTV) tire market as a part of the global tires and rubber market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the all-terrain vehicle and utility terrain vehicle tire market during the forecast period.
Who are the Major ATV UTV Tire Market Vendors?
The report analyzes the market’s competitive landscape and offers information on several market vendors, including:
- Bridgestone Corp.
- Cheng Shin Rubber Ind. Co. Ltd.
- Hwa Fong Rubber Ind. Co. Ltd.
- Kenda Rubber Industrial Co. Ltd.
- Maxxis International
- Michelin Group
- OTR Wheel Engineering Inc.
- Sedona Tire and Wheel
- The Carlstar Group LLC
- TIANJIN WANDA TYRE GROUP Co. Ltd.
- Titan International Inc.
- Toyo Tire Corp.
This statistical study of the ATV UTV (all-terrain vehicle and utility terrain vehicle) tire market encompasses successful business strategies deployed by the key vendors. The all-terrain vehicle and utility terrain vehicle tire market is concentrated and the vendors are deploying organic and inorganic growth strategies to compete in the market.
Product Insights and News
- Bridgestone.com - The company offers ATV UTV (all-terrain vehicle and utility terrain vehicle) tires that adopt 3D groove shape to improve tread rigidity and its high-grip radials help achieve dry handling, grip, and stability.
- Duro.co.th - The company offers ATV UTV tires that are rugged lightweight with stiff sidewalls and has a classic knobby pattern that provides versatile performance in loose terrain and hardpack.
- Kendatire.com - The company offers ATV UTV tires that are designed specifically for deep mud or sandy MX course conditions and its paddle-shaped knobs create a large scoop for improved acceleration traction.
To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The ATV UTV (all-terrain vehicle and utility terrain vehicle) tire market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
ATV UTV Tire Market Value Chain Analysis
Our report provides extensive information on the value chain analysis for the all-terrain vehicle and utility terrain vehicle tire market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.
Which are the Key Regions for ATV UTV Tire Market?
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50% of the market’s growth will originate from APAC during the forecast period. China, Japan, and India are the key markets for the all-terrain vehicle and utility terrain vehicle tire market in APAC. Market growth in this region will be faster than the growth of the market in other regions.
The growing viewership of off-road vehicle championships will facilitate the ATV UTV tire market growth in APAC over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.
COVID Impact and Recovery Analysis
The outbreak of COVID-19 hampered the business growth of vendors in the regional market. However, the initiation of large-scale COVID-19 vaccination drives from Q1 2021 has led to a decline in the number of COVID-19 cases in the region. This has resulted in the lifting of lockdowns and the resumption of business operations such as production and merger and acquisition (M&A). This, in turn, will positively impact the growth of the automotive industry in the region during the forecast period.
What are the Revenue-generating Application Segments in the ATV UTV Tire Market?
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The ATV UTV tire market share growth by the UTV segment will be significant during the forecast period. UTV tires provide superior performance abilities than ATV tires and are extremely powerful and maneuverable, even over uneven terrain and in the woods. Additionally, they are increasingly being used in agriculture and farm operations because of their ability to carry small loads in uneven terrain areas. Therefore, the UTV application segment of the global ATV and UTV market is anticipated to witness high growth during the forecast period.
This report provides an accurate prediction of the contribution of all the segments to the growth of the ATV UTV (all-terrain vehicle and utility terrain vehicle) tire market size and actionable market insights on post COVID-19 impact on each segment.
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ATV UTV Tire Market Scope |
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Report Coverage |
Details |
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Page number |
120 |
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Base year |
2021 |
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Forecast period |
2022-2026 |
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Growth momentum & CAGR |
Decelerate at a CAGR of 4.49% |
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Market growth 2022-2026 |
43.57 mn units |
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Market structure |
Concentrated |
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YoY growth (%) |
4.91 |
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Regional analysis |
APAC, Europe, North America, Middle East and Africa, and South America |
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Performing market contribution |
APAC at 50% |
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Key consumer countries |
US, China, Japan, India, and Germany |
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Competitive landscape |
Leading companies, Competitive strategies, Consumer engagement scope |
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Key companies profiled |
Bridgestone Corp., Cheng Shin Rubber Ind. Co. Ltd., Hwa Fong Rubber Ind. Co. Ltd., Kenda Rubber Industrial Co. Ltd., Maxxis International, Michelin Group, OTR Wheel Engineering Inc., Sedona Tire and Wheel, The Carlstar Group LLC, TIANJIN WANDA TYRE GROUP Co. Ltd., Titan International Inc., and Toyo Tire Corp. |
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Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
What are the Key Data Covered in this ATV UTV Tire Market Report?
- CAGR of the market during the forecast period 2022-2026
- Detailed information on factors that will drive ATV UTV tire market growth during the next five years
- Precise estimation of the ATV UTV tire market size and its contribution to the parent market
- Accurate predictions on upcoming trends and changes in consumer behavior
- The growth of the ATV UTV tire industry across APAC, Europe, North America, Middle East and Africa, and South America
- A thorough analysis of the market’s competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of ATV UTV tire market vendors
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