The Europe Racing Tires Market would witness market growth of 4.6% CAGR during the forecast period (2023-2030).
The Germany market dominated the Europe Racing Tires Market, By Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $1,271.4 Million by 2030. The UK market is exhibiting a CAGR of 3.7% during (2023 - 2030). Additionally, The France market would experience a CAGR of 5.4% during (2023 - 2030).
In recent years, the adoption landscape has witnessed an intriguing diversification, influenced by the rise of alternative racing formats and the intersection of motorsports with emerging technologies. The electrification of vehicles, epitomized by the growth of electric racing series like Formula E, has introduced a new dimension to the market.
Moreover, electric vehicles (EVs) present unique challenges, requiring tire manufacturers to reevaluate traditional designs and develop solutions that cater to the distinct performance characteristics of electric race cars.
The development of cutting-edge racing cars in the UK necessitates corresponding advancements in tire technology. As per the Government of the United Kingdom, more Grand Prix cars have been made in Britain than in any other country throughout the last 7 decades. Hence, growing racing car events and racing car production in Europe will assist in the growth of the regional racing tires market.
Based on Tire Type, the market is segmented into Racing Slick Tires, and Racing Treaded Tires. Based on Application, the market is segmented into Auto Racing Tires, and Motorcycle Racing Tires. Based on Distribution Channel, the market is segmented into Replacement Tires, and OEMs. Based on countries, the market is segmented into Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
The Germany market dominated the Europe Racing Tires Market, By Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $1,271.4 Million by 2030. The UK market is exhibiting a CAGR of 3.7% during (2023 - 2030). Additionally, The France market would experience a CAGR of 5.4% during (2023 - 2030).
In recent years, the adoption landscape has witnessed an intriguing diversification, influenced by the rise of alternative racing formats and the intersection of motorsports with emerging technologies. The electrification of vehicles, epitomized by the growth of electric racing series like Formula E, has introduced a new dimension to the market.
Moreover, electric vehicles (EVs) present unique challenges, requiring tire manufacturers to reevaluate traditional designs and develop solutions that cater to the distinct performance characteristics of electric race cars.
The development of cutting-edge racing cars in the UK necessitates corresponding advancements in tire technology. As per the Government of the United Kingdom, more Grand Prix cars have been made in Britain than in any other country throughout the last 7 decades. Hence, growing racing car events and racing car production in Europe will assist in the growth of the regional racing tires market.
Based on Tire Type, the market is segmented into Racing Slick Tires, and Racing Treaded Tires. Based on Application, the market is segmented into Auto Racing Tires, and Motorcycle Racing Tires. Based on Distribution Channel, the market is segmented into Replacement Tires, and OEMs. Based on countries, the market is segmented into Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
List of Key Companies Profiled
- Bridgestone Corporation
- Continental AG
- Michelin
- Hankook Tire & Technology
- Pirelli & C. S.p.A.
- The Goodyear Tire & Rubber Company
- The Yokohama Rubber Co., Ltd.
- Zhongce Rubber Group Co., Limited
- Nexen Tire
- Maxxis International USA (Cheng Shin Rubber Industry Co.)
Market Report Segmentation
By Tire Type- Racing Slick Tires
- Racing Treaded Tires
- Auto Racing Tires
- Motorcycle Racing Tires
- Replacement Tires
- OEMs
- Germany
- UK
- France
- Russia
- Spain
- Italy
- Rest of Europe
Table of Contents
Chapter 1. Market Scope & Methodology
Chapter 2. Market at a Glance
Chapter 3. Market Overview
Chapter 5. Europe Racing Tires Market, By Tire Type
Chapter 6. Europe Racing Tires Market, By Application
Chapter 7. Europe Racing Tires Market, By Distribution Channel
Chapter 8. Europe Racing Tires Market, By Country
Chapter 9. Company Profiles
Companies Mentioned
- Bridgestone Corporation
- Continental AG
- Michelin
- Hankook Tire & Technology
- Pirelli & C. S.p.A.
- The Goodyear Tire & Rubber Company
- The Yokohama Rubber Co., Ltd.
- Zhongce Rubber Group Co., Limited
- Nexen Tire
- Maxxis International USA (Cheng Shin Rubber Industry Co.)
Methodology
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