The snowmobile tires market is anticipated to grow at a significant CAGR of 4.4% during the forecast period (2022-2028). A snowmobile is a motorized vehicle built for use on snow in the winter. Although it is intended to run on snow and ice, and does not require the use of a road or track. The majority of them are driven on open terrain or trails. The major factor driving the growth of the market includes the increasing usage of snowmobiles in icy areas globally.
The global snowmobile tires market is segmented based on the material and sales channel. Based on the material, the market is sub-segmented into pneumatic tires, solid tires, and polyurethane tires. Based on the sales channel, the market is sub-segmented into OEM and aftermarket. Among these sales channels, the OEM segment is expected to propel the growth of the market due to the increasing demand and usage of OEM tires in autonomous underwater vehicles globally.
The market players are also contributing significantly to the market’s growth by adopting various strategies, including mergers and acquisitions, geographical expansion, partnerships, collaborations, and new product launches, to stay competitive in the market. For instance, in June 2019, Camso announced the debut of the MPT 732, a multi-purpose bias tire designed for great traction, stability, and durability in a range of circumstances and created specifically for the EMEA market. The Camso MPT 732 is the newest model in the company’s multi-purpose tire lineup, which includes versions for a variety of difficult applications. Camso’s commitment to constantly developing its product offerings and staying one product cycle ahead of the competition in off-the-road tire and track solutions is reflected in this release. The MPT 732 multi-purpose tire is available in eight sizes and is designed for small wheel loaders, telehandlers, and backhoe loaders. These machines are used for a range of tasks, from snow removal to excavation to agricultural labour, and each one necessitates traction, stability, durability, and riding quality from the tires put on the machine.
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Market Coverage
- The market number available for – 2021-2028
- Base year- 2021
- Forecast period- 2022-2028
- Segment Covered-
- By Material
- By Sales Channel
- Regions Covered-
- North America
- Europe
- Asia-Pacific
- Rest of the World
- Competitive Landscape- Camso (a subsidiary of Arctic Investments SA), Titan International Inc., Continental AG, Trelleborg AB, Michelin, Aichi Tire Industry Co. Ltd., Mitas AB, and Hankook Tire & Technology, among others.
Key questions addressed by the report
- What is the market growth rate?
- Which segment and region dominate the market in the base year?
- Which segment and region will project the fastest growth in the market?
- How has COVID-19 impacted the market?
- Deviation from the pre-COVID-19 forecast
- Most affected region and segment
- Who is the leader in the market?
- How players are addressing challenges to sustain growth?
- Where is the investment opportunity?
A full report of Global Snowmobile Tires Market is available at: https://orionmarketreports.com/global-snowmobile-tires-market/110271/
Global Snowmobile Tires Market Report by Segment
By Material
- Pneumatic Tires
- Solid Tires
- Polyurethane Tires
By Sales Channel
- OEM
- Aftermarket
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