360 MARKET UPDATES Report provides a 360-degree overview of the global High Performance Tire Market with special emphasis on all aspects including drivers, restraints, and opportunities, market and regional segmentation.

High Performance Tire

Report Title: “Global High Performance Tire Market – Industry Analysis, Trends, and Forecast (2018 – 2023)”

Global “High Performance Tire Market” is expected to register a CAGR of approximately 15.5% during the forecast period of (2018 – 2023). Also, High Performance Tire Market report provides the global market competition landscape, market drivers and trends, opportunities and challenges, risks and entry barriers, sales channels, distributors and High Performance Tire Analysis.

High Performance Tire market Report provides a 360-degree overview of the global High Performance Tire market with special emphasis on all aspects including drivers, restraints, and opportunities, market and regional segmentation.

High Performance Tire Market Report Covers Leading Manufacturers: Bridgestone, Continental,Cooper Tire & Rubber Company ,Goodyear Dunlop Tires,Hankook Tire Co. Ltd.,Kumho Tires,Michelin Group, MRF Tires,Pirelli & C. S.P.A. ,Sumitomo Rubber Industries, Ltd. ,Yokohama Rubber Co., Ltd.

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The high-performance tire market is expected to witness an estimated CAGR of around 15.5% during the forecast period, 2018-2023. High-performance tires have a substantial demand from the aftermarket segment, particularly in the racing segment. A racing vehicle requires about nine to 14 sets of tires on an average in a racing championship circuit. In a racing championship, a team requires an average of 36-58 tires. The average cost of a racing tire ranges from USD 1,500-USD 2,600, which costs around USD 63,000–USD 157,000 for a team to buy racing tires, per championship. The market is expected to grow significantly with the increased interest among racing enthusiasts. Racing and sporting events have played a significant role in the growth of the automotive industry, offering automotive manufacturers an opportunity to promote high-performance automotive components such as engines, external parts and tires.

Growing Popularity of Diverse Racing Competitions is Majorly Driving the Market

The sales of high performance tires have increased significantly due to the rise in the number and type of automotive racing competitions, which act as major drivers for the high performance and ultra-high performance tire market. Increase in popularity for various types of automotive racing around the world has helped to boost the growth of the market to a significant extent. Competitive automotive racing was initially focused on popular car racing series such as Formula One, NASCAR, and motorbike races, which attracted many sponsorships and promotional activities. However, there has been an increase in the variety of races with different types of vehicles having varying engine sizes, such as SUVs, dirt bikes, monster trucks, solar car, sprint car and touring car. The reinforcement variants available in the manufacturing of racing tires is a key development across the high performance tire market.

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Reasons to Purchase High Performance Tire Market Report:

  • Identification of key factors instrumental in changing the market scenario, exploiting new opportunities, and gaining a competitive edge. 
  • Analysing various perspectives of the market with the help of Porter’s five forces analysis.
  • The authentication mode is likely to witness the highest adoption of these systems in the market.
  • The regions that are expected to witness the fastest growth during the forecast period.
  • The SWOT analysis for key players and a detailed study of their current strategic interests and key financial performance indicators.
  • 3 months’ analyst support along with the Market Estimate sheet (in excel). 

“We also can offer customized report to fulfill special requirements of our clients. Regional and Countries report can be provided as well.”

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