The UTV tires market is anticipated to grow at a significant CAGR of 7.5% during the forecast period (2022-2028). UTV tires are a specific type of tire that is designed to make driving more enjoyable and efficient. These tires are designed to push mud away from automobiles, allowing them to go at a safe pace while keeping traction. The desire for more adventurous sports has raised the demand for better and more efficient UTVs, which in turn has aided the global expansion of the UTV tire market. Furthermore, governments throughout the globe have enacted legislation governing the use of UTVs for minor jobs, which contributes to the growth of the UTV tire market.
The global UTV tires market is segmented based on the type, application, and sales channel. Based on the type, the market is sub-segmented into racing tires, sand tires, mud tires, and all-terrain tires. Based on the application, the market is sub-segmented into agriculture, military operations, mountaineering, and others. 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 UTVs 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 November 2021, Hercules Tires and TIS Wheels announced the launch of its new co-branded premium UTV tire, the TIS UT1 by Hercules. It is Hercules Tires’ first UTV tire, and it has been released in the first quarter of 2022. During a ride-and-drive event in Moab, Utah, in October, Tire Review put the new TIS UT1 by Hercules to the test.
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Market Coverage
- The market number available for – 2021-2028
- Base year- 2021
- Forecast period- 2022-2028
- Segment Covered-
- By Type
- By Application
- By Sales Channel
- Regions Covered-
- North America
- Europe
- Asia-Pacific
- Rest of the World
- Competitive Landscape- Nokian Tyres PLC, Bridgestone Corp., Titan International Inc., Balkrishna Industries Ltd., The Yokohama Rubber Co. Ltd., Qingdao Qizhou Rubber Co. Ltd., and Maxam Tire International Ltd., 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 UTV Tires Market is available at: https://orionmarketreports.com/global-utv-tires-market/110312/
Global UTV Tires Market Report by Segment
By Type
- Racing Tires,
- Sand Tires,
- Mud Tires, and
- All-Terrain Tires
By Application
- Agriculture
- Military Operations
- Mountaineering
- Others
By Sales Channel
- OEM
- Aftermarket
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