PUBLISHER: TechSci Research | PRODUCT CODE: 1110874
PUBLISHER: TechSci Research | PRODUCT CODE: 1110874
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Russia ATV tire market is projected to grow at a steady CAGR during the forecast period, 2023-2027. The market growth can be attributed to the massive demand for ATV tire from agriculture sector, defense sector, recreation, sports, and mining sector. Also, high-end investments by the market players to manufacture retread tires and the development of electric variant of ATV vehicles is expected to create lucrative growth opportunities for the market players over the next five years. ATV tires are designed to operate effectively under special conditions such as mountaineering and military operations since they are made up of high-performance rubber. Major function of these tires is to provide a flexible cushion to reduce the impact of vibrations and absorb shock for the vehicle. Major tire manufacturing companies are introducing different types of ATV tires for better grip and better driving experience. Rising trend of adventurous sporting and recreational activities in the country is expected to boost the demand for ATV tires. Government rules to support driving ATVs on road and production of safer ATVS are estimated to boost the Russia ATV tire market growth. Moreover, emergence of various national parks and increased government spending to build new off-road trails are boosting adventure sports in the region, creating high demand for ATV tires.
Russia ATV tire market is segmented into vehicle type, demand category, radial v/s bias, tire size, application, and regional distribution. Based on vehicle type, the market is fragmented into utility ATV, sports ATV & youth ATV. Utility ATV is expected to capture the highest market share in the forecast period, 2023-2027. They are powerful and strong and have a lot of storage space. They can carry small to medium-sized loads and are used in locations where the truck cannot be used to carry out the operations.
Based on application, the market is segmented into entertainment, sports, agriculture, and others. The sports segment is expected to account for a significant market share in the forecast period, 2023-2027. The growing popularity of adventurous sports such as mountain biking is driving the segment demand.
Major players operating in the Russia ATV Tire Market are: Carlisle Tire, Maxxis International, Titan International Inc, STI Powersports, Bridgestone Corporation, Goodyear Russia LLC, Zhongce Rubber, TREKOL company, Michelin Russia and CIS, Nokian Tyres PLC, among others.
TechSci Research performed both primary as well as exhaustive secondary research for this study. Initially, TechSci Research sourced a list of manufacturers, suppliers, and service providers across the country. Subsequently, TechSci Research conducted primary research surveys with the identified companies. While interviewing, the respondents were also enquired about their competitors. Through this technique, TechSci Research could include the manufactures which could not be identified due to the limitations of secondary research. TechSci Research analyzed the manufactures, distribution channels and presence of all major players across the country.
TechSci Research calculated the market size of Russia ATV Tire Market using a bottom-up approach, wherein data for various end-user segments was recorded and forecast for the future years. TechSci Research sourced these values from the industry experts and company representatives and externally validated through analysing historical data of these product types and applications for getting an appropriate, overall market size. Various secondary sources such as company websites, news articles, press releases, company annual reports, investor presentations and financial reports were also studied by TechSci Research.
The study is useful in providing answers to several critical questions that are important for the industry stakeholders such as manufacturers, suppliers, end users, etc., besides allowing them in strategizing investments and capitalizing on market opportunities.
In this report, Russia ATV Tire Market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
Company Profiles: Detailed analysis of the major companies present in Russia ATV Tire Market.
With the given market data, TechSci Research offers customizations according to a company's specific needs. The following customization options are available for the report: