LONDON–(BUSINESS WIRE)–The global all-terrain vehicle (ATV) tires market growth is expected to reduce by USD 6.35 million during the period 2019-2023, according to the latest market research report by Technavio. Request a free sample report
The growing consumer interest in adventure sports and recreational activities such as off-roading, trails, mountain racing, and dirt racing has increased the use of ATVs. The presence of related associations and institutions across the world has also contributed to the increased the demand for ATVs. For instance, the Canadian Council of Snowmobile Organization conducts sports events every year, which has increased the demand for ATVs. ATVs also find many applications in the armed forces such as military and police departments, where they are extensively used for transportation in remote areas. Hence, the increasing use of ATVs in recreational, sports, and military applications is one of the key drivers for the global ATV tires market.
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As per Technavio, the increasing number of ATV experience zones will have a positive impact on the market. This research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.
Global All-Terrain Vehicle (ATV) Tires Market: Increasing Number of ATV Experience Zones
Prominent ATV manufacturers across the world are launching activities such as ATV experience zones to generate more revenue. These zones allow consumers to experience and test the capabilities of ATVs. They also increase awareness about the sport and help ATV manufacturers promote their products and boost sales. Many ATV manufacturers are also targeting emerging markets such as APAC to expand their visibility and presence across the globe. For instance, in 2018, Polaris India opened the 84th Polaris Experience Zone (PEZ) in Bengaluru, Karnataka, India. The growing number of such ATV experience zones will positively impact the global ATV tires market during the forecast period.
“Growing developments in ATV tires market and the use of ATV tires to customize motorcycles will further boost market growth during the forecast period”, says a senior analyst at Technavio.
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Global All-Terrain Vehicle (ATV) Tires Market: Segmentation Analysis
This market report segments the global all-terrain vehicle (ATV) tires market by application (utility ATV and sport ATV) and geography (APAC, Europe, MEA, North America, and South America).
The North American region led the market in 2018, followed by Europe, APAC, MEA, and South America respectively. During the forecast period, the North American region is expected to maintain its dominance over the market. This is due to the increasing popularity of off-roading events in the region. In Europe, the expansion of distribution networks by prominent ATV OEMs is expected to generate significant revenue for the ATV tires market despite the decline in growth momentum.
Technavio’s sample reports are free of charge and contain multiple sections of the report, such as the market size and forecast, drivers, challenges, trends, and more.
Some of the key topics covered in the report include:
Market Landscape
- Market ecosystem
- Market characteristics
- Market segmentation analysis
Market Sizing
- Market definition
- Market size and forecast
Five Forces Analysis
Market Segmentation
Customer Landscape
Geographical Segmentation
- Geographic comparison
- Key leading countries
Market Drivers
Market Challenges
Market Trends
Vendor Landscape
- Landscape disruption
- Competitive scenario
Vendor Analysis
- Vendors covered
- Vendor classification
- Market positioning of vendors
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