ATV UTV Tire Market by Application and Geography - Forecast and Analysis 2022-2026

Published: Jul 2022 Pages: 125 SKU: IRTNTR73938

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.

 

ATV UTV Tire Market Scope

Report Coverage

Details

Page number

120

Base year

2021

Forecast period

2022-2026

Growth momentum & CAGR

Decelerate at a CAGR of 4.49%

Market growth 2022-2026

43.57 mn units

Market structure

Concentrated

YoY growth (%)

4.91

Regional analysis

APAC, Europe, North America, Middle East and Africa, and South America

Performing market contribution

APAC at 50%

Key consumer countries

US, China, Japan, India, and Germany

Competitive landscape

Leading companies, Competitive strategies, Consumer engagement scope

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.

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

Customization purview

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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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1 Executive Summary

  • 1.1 Market overview
    • Exhibit 01: Executive Summary – Chart on Market Overview
    • Exhibit 02: Executive Summary – Data Table on Market Overview
    • Exhibit 03: Executive Summary – Chart on Global Market Characteristics
    • Exhibit 04: Executive Summary – Chart on Market by Geography
    • Exhibit 05: Executive Summary – Chart on Market Segmentation by Application
    • Exhibit 06: Executive Summary – Chart on Incremental Growth
    • Exhibit 07: Executive Summary – Data Table on Incremental Growth
    • Exhibit 08: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

  • 2.1 Market ecosystem
    • Exhibit 09: Parent market
    • Exhibit 10: Market Characteristics

3 Market Sizing

  • 3.1 Market definition
    • Exhibit 11: Offerings of vendors included in the market definition
  • 3.2 Market segment analysis
    • Exhibit 12: Market segments
  • 3.3 Market size 2021
    • 3.4 Market outlook: Forecast for 2021-2026
      • Exhibit 13: Chart on Global - Market size and forecast 2021-2026 (million units)
      • Exhibit 14: Data Table on Global - Market size and forecast 2021-2026 (million units)
      • Exhibit 15: Chart on Global Market- Year-over-year growth 2021-2026 (%)
      • Exhibit 16: Data Table on Global Market- Year-over-year growth 2021-2026 (%)

    4 Five Forces Analysis

    • 4.1 Five forces summary
      • Exhibit 17: Five forces analysis - Comparison between 2021 and 2026
    • 4.2 Bargaining power of buyers
      • Exhibit 18: Chart on Bargaining power of buyers – Impact of key factors 2021 and 2026
    • 4.3 Bargaining power of suppliers
      • Exhibit 19: Bargaining power of suppliers – Impact of key factors in 2021 and 2026
    • 4.4 Threat of new entrants
      • Exhibit 20: Threat of new entrants – Impact of key factors in 2021 and 2026
    • 4.5 Threat of substitutes
      • Exhibit 21: Threat of substitutes – Impact of key factors in 2021 and 2026
    • 4.6 Threat of rivalry
      • Exhibit 22: Threat of rivalry – Impact of key factors in 2021 and 2026
    • 4.7 Market condition
      • Exhibit 23: Chart on Market condition - Five forces 2021 and 2026

    5 Market Segmentation by Application

    • 5.1 Market segments
      • Exhibit 24: Chart on Application - Market share 2021-2026 (%)
      • Exhibit 25: Data Table on Application - Market share 2021-2026 (%)
    • 5.2 Comparison by Application
      • Exhibit 26: Chart on Comparison by Application
      • Exhibit 27: Data Table on Comparison by Application
    • 5.3 UTV - Market size and forecast 2021-2026
      • Exhibit 28: Chart on UTV - Market size and forecast 2021-2026 (million units)
      • Exhibit 29: Data Table on UTV - Market size and forecast 2021-2026 (million units)
      • Exhibit 30: Chart on UTV - Year-over-year growth 2021-2026 (%)
      • Exhibit 31: Data Table on UTV - Year-over-year growth 2021-2026 (%)
    • 5.4 ATV - Market size and forecast 2021-2026
      • Exhibit 32: Chart on ATV - Market size and forecast 2021-2026 (million units)
      • Exhibit 33: Data Table on ATV - Market size and forecast 2021-2026 (million units)
      • Exhibit 34: Chart on ATV - Year-over-year growth 2021-2026 (%)
      • Exhibit 35: Data Table on ATV - Year-over-year growth 2021-2026 (%)
    • 5.5 Market opportunity by Application
      • Exhibit 36: Market opportunity by Application (million units)

    6 Customer Landscape

    • 6.1 Customer landscape overview
      • Exhibit 37: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

    7 Geographic Landscape

    • 7.1 Geographic segmentation
      • Exhibit 38: Chart on Market share by geography 2021-2026 (%)
      • Exhibit 39: Data Table on Market share by geography 2021-2026 (%)
    • 7.2 Geographic comparison
      • Exhibit 40: Chart on Geographic comparison
      • Exhibit 41: Data Table on Geographic comparison
    • 7.3 APAC - Market size and forecast 2021-2026
      • Exhibit 42: Chart on APAC - Market size and forecast 2021-2026 (million units)
      • Exhibit 43: Data Table on APAC - Market size and forecast 2021-2026 (million units)
      • Exhibit 44: Chart on APAC - Year-over-year growth 2021-2026 (%)
      • Exhibit 45: Data Table on APAC - Year-over-year growth 2021-2026 (%)
    • 7.4 Europe - Market size and forecast 2021-2026
      • Exhibit 46: Chart on Europe - Market size and forecast 2021-2026 (million units)
      • Exhibit 47: Data Table on Europe - Market size and forecast 2021-2026 (million units)
      • Exhibit 48: Chart on Europe - Year-over-year growth 2021-2026 (%)
      • Exhibit 49: Data Table on Europe - Year-over-year growth 2021-2026 (%)
    • 7.5 North America - Market size and forecast 2021-2026
      • Exhibit 50: Chart on North America - Market size and forecast 2021-2026 (million units)
      • Exhibit 51: Data Table on North America - Market size and forecast 2021-2026 (million units)
      • Exhibit 52: Chart on North America - Year-over-year growth 2021-2026 (%)
      • Exhibit 53: Data Table on North America - Year-over-year growth 2021-2026 (%)
    • 7.6 Middle East and Africa - Market size and forecast 2021-2026
      • Exhibit 54: Chart on Middle East and Africa - Market size and forecast 2021-2026 (million units)
      • Exhibit 55: Data Table on Middle East and Africa - Market size and forecast 2021-2026 (million units)
      • Exhibit 56: Chart on Middle East and Africa - Year-over-year growth 2021-2026 (%)
      • Exhibit 57: Data Table on Middle East and Africa - Year-over-year growth 2021-2026 (%)
    • 7.7 South America - Market size and forecast 2021-2026
      • Exhibit 58: Chart on South America - Market size and forecast 2021-2026 (million units)
      • Exhibit 59: Data Table on South America - Market size and forecast 2021-2026 (million units)
      • Exhibit 60: Chart on South America - Year-over-year growth 2021-2026 (%)
      • Exhibit 61: Data Table on South America - Year-over-year growth 2021-2026 (%)
    • 7.8 China - Market size and forecast 2021-2026
      • Exhibit 62: Chart on China - Market size and forecast 2021-2026 (million units)
      • Exhibit 63: Data Table on China - Market size and forecast 2021-2026 (million units)
      • Exhibit 64: Chart on China - Year-over-year growth 2021-2026 (%)
      • Exhibit 65: Data Table on China - Year-over-year growth 2021-2026 (%)
    • 7.9 US - Market size and forecast 2021-2026
      • Exhibit 66: Chart on US - Market size and forecast 2021-2026 (million units)
      • Exhibit 67: Data Table on US - Market size and forecast 2021-2026 (million units)
      • Exhibit 68: Chart on US - Year-over-year growth 2021-2026 (%)
      • Exhibit 69: Data Table on US - Year-over-year growth 2021-2026 (%)
    • 7.10 Germany - Market size and forecast 2021-2026
      • Exhibit 70: Chart on Germany - Market size and forecast 2021-2026 (million units)
      • Exhibit 71: Data Table on Germany - Market size and forecast 2021-2026 (million units)
      • Exhibit 72: Chart on Germany - Year-over-year growth 2021-2026 (%)
      • Exhibit 73: Data Table on Germany - Year-over-year growth 2021-2026 (%)
    • 7.11 Japan - Market size and forecast 2021-2026
      • Exhibit 74: Chart on Japan - Market size and forecast 2021-2026 (million units)
      • Exhibit 75: Data Table on Japan - Market size and forecast 2021-2026 (million units)
      • Exhibit 76: Chart on Japan - Year-over-year growth 2021-2026 (%)
      • Exhibit 77: Data Table on Japan - Year-over-year growth 2021-2026 (%)
    • 7.12 India - Market size and forecast 2021-2026
      • Exhibit 78: Chart on India - Market size and forecast 2021-2026 (million units)
      • Exhibit 79: Data Table on India - Market size and forecast 2021-2026 (million units)
      • Exhibit 80: Chart on India - Year-over-year growth 2021-2026 (%)
      • Exhibit 81: Data Table on India - Year-over-year growth 2021-2026 (%)
    • 7.13 Market opportunity by geography
      • Exhibit 82: Market opportunity by geography (million units)

    8 Drivers, Challenges, and Trends

    • 8.1 Market drivers
      • 8.2 Market challenges
        • 8.3 Impact of drivers and challenges
          • Exhibit 83: Impact of drivers and challenges in 2021 and 2026
        • 8.4 Market trends

          9 Vendor Landscape

          • 9.1 Overview
            • 9.2 Vendor landscape
              • Exhibit 84: Overview on Criticality of inputs and Factors of differentiation
            • 9.3 Landscape disruption
              • Exhibit 85: Overview on factors of disruption
            • 9.4 Industry risks
              • Exhibit 86: Impact of key risks on business

            10 Vendor Analysis

            • 10.1 Vendors covered
              • Exhibit 87: Vendors covered
            • 10.2 Market positioning of vendors
              • Exhibit 88: Matrix on vendor position and classification
            • 10.3 Bridgestone Corp.
              • Exhibit 89: Bridgestone Corp. - Overview
              • Exhibit 90: Bridgestone Corp. - Business segments
              • Exhibit 91: Bridgestone Corp. - Key news
              • Exhibit 92: Bridgestone Corp. - Key offerings
              • Exhibit 93: Bridgestone Corp. - Segment focus
            • 10.4 Hwa Fong Rubber Ind. Co. Ltd.
              • Exhibit 94: Hwa Fong Rubber Ind. Co. Ltd. - Overview
              • Exhibit 95: Hwa Fong Rubber Ind. Co. Ltd. - Product / Service
              • Exhibit 96: Hwa Fong Rubber Ind. Co. Ltd. - Key offerings
            • 10.5 Kenda Rubber Industrial Co. Ltd.
              • Exhibit 97: Kenda Rubber Industrial Co. Ltd. - Overview
              • Exhibit 98: Kenda Rubber Industrial Co. Ltd. - Product / Service
              • Exhibit 99: Kenda Rubber Industrial Co. Ltd. - Key offerings
            • 10.6 Maxxis International
              • Exhibit 100: Maxxis International - Overview
              • Exhibit 101: Maxxis International - Product / Service
              • Exhibit 102: Maxxis International - Key offerings
            • 10.7 Michelin Group
              • Exhibit 103: Michelin Group - Overview
              • Exhibit 104: Michelin Group - Business segments
              • Exhibit 105: Michelin Group - Key news
              • Exhibit 106: Michelin Group - Key offerings
              • Exhibit 107: Michelin Group - Segment focus
            • 10.8 OTR Wheel Engineering Inc.
              • Exhibit 108: OTR Wheel Engineering Inc. - Overview
              • Exhibit 109: OTR Wheel Engineering Inc. - Product / Service
              • Exhibit 110: OTR Wheel Engineering Inc. - Key offerings
            • 10.9 Sedona Tire and Wheel
              • Exhibit 111: Sedona Tire and Wheel - Overview
              • Exhibit 112: Sedona Tire and Wheel - Product / Service
              • Exhibit 113: Sedona Tire and Wheel - Key offerings
            • 10.10 The Carlstar Group LLC
              • Exhibit 114: The Carlstar Group LLC - Overview
              • Exhibit 115: The Carlstar Group LLC - Product / Service
              • Exhibit 116: The Carlstar Group LLC - Key offerings
            • 10.11 Titan International Inc.
              • Exhibit 117: Titan International Inc. - Overview
              • Exhibit 118: Titan International Inc. - Business segments
              • Exhibit 119: Titan International Inc. - Key offerings
              • Exhibit 120: Titan International Inc. - Segment focus
            • 10.12 Toyo Tire Corp.
              • Exhibit 121: Toyo Tire Corp. - Overview
              • Exhibit 122: Toyo Tire Corp. - Business segments
              • Exhibit 123: Toyo Tire Corp. - Key news
              • Exhibit 124: Toyo Tire Corp. - Key offerings
              • Exhibit 125: Toyo Tire Corp. - Segment focus

            11 Appendix

            • 11.1 Scope of the report
              • 11.2 Inclusions and exclusions checklist
                • Exhibit 126: Inclusions checklist
                • Exhibit 127: Exclusions checklist
              • 11.3 Currency conversion rates for US$
                • Exhibit 128: Currency conversion rates for US$
              • 11.4 Research methodology
                • Exhibit 129: Research methodology
                • Exhibit 130: Validation techniques employed for market sizing
                • Exhibit 131: Information sources
              • 11.5 List of abbreviations
                • Exhibit 132: List of abbreviations
              • bicycle market due to changes in market dynamics: Increase in urbanization, rising disposable income, increased traffic and congestion, rising health consciousness and environmental concerns, and a significant increase in the fuel prices have driven the change in preference toward transportation mode among the people for a short-distance commute. In the past few years, fuel prices have increased significantly, which is expected to fluctuate, resulting in customers shifting their preferences to bicycles as a convenient mode of commute. Additionally, with the continuous rise in fuel prices, the demand for battery-powered bicycles and mountain bicycles has increased. Mountain bicycles are equipped with gears and suspension, which help in managing speeds better and make them easier to ride through mountain areas, overpasses, and rough roads.

                Research Framework

                Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

                INFORMATION SOURCES

                Primary sources

                • Manufacturers and suppliers
                • Channel partners
                • Industry experts
                • Strategic decision makers

                Secondary sources

                • Industry journals and periodicals
                • Government data
                • Financial reports of key industry players
                • Historical data
                • Press releases

                DATA ANALYSIS

                Data Synthesis

                • Collation of data
                • Estimation of key figures
                • Analysis of derived insights

                Data Validation

                • Triangulation with data models
                • Reference against proprietary databases
                • Corroboration with industry experts

                REPORT WRITING

                Qualitative

                • Market drivers
                • Market challenges
                • Market trends
                • Five forces analysis

                Quantitative

                • Market size and forecast
                • Market segmentation
                • Geographical insights
                • Competitive landscape

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                Key Questions Answered

                • What are the key global market and the regional market share?
                • What are the revenue-generating key market segments?
                • What are the key factors driving and challenging this market’s growth?
                • Who are the key market vendors and their growth strategies?
                • What are the latest trends influencing the growth of this market?
                • What are the variables influencing the market growth in the primary regions?
                • What are the factors influencing the growth of the parent market?

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