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. Companies gain significant brand leverage through sponsorships of international racing championships. The popularity of competitive races, such as F1 and NASCAR, has contributed to the success of major tire manufacturers in the racing tire market. The presence of tire manufacturers in such racing competitions has helped increase the visibility of these manufacturers in the high-performance/ultra-high performance tire segment. During 2009-2013, racing events in mature markets such as the UK and the US were shut down due to the economic crisis of 2008-2009, declining viewership of racing events.
High-Performance tires have a substantial demand from the aftermarket segment especially 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 $1,500 to $2,600, which makes the racing tires cost a team $63k to $157k per championship. A lot of money is invested by a team in order to participate in an international racing event. We expect the market to grow significantly with increased interest among racing enthusiasts.
Nanotechnology helps to reduce wear and tear significantly. Reduction in the wear and tear is critical to high performance tires, as these tires undergo a huge amount of heat and pressure. Application of nanotechnology in the production of high performance tires implies that these tires operate in a wide range of temperatures with superior heat resistance. A high-performance rubber additive, Nanoprene, is used with the rubber mixture of the tire tread, which significantly helps to reduce wear and tear in automobile tires.
- racing slick is the most preferred type of tire used for international racing championships on a dry track. Racing slick with reduced tread helps provide the largest contact patch to the road, and thereby ensures maximum traction for any given tire dime
WHAT THE REPORT OFFERS
Market Definition and Scope along with identification of key drivers and restraints for each segments in the market.
Market analysis with specific studies and theoretical analysis on the high performance tire market for each region
Identification of factors that has been instrumental in changing the market dynamics, prospective opportunities for each segments and identification of key factors, influencing the market.
Extensively researched competitive landscape segment with the market dynamics for each major player across the region.
Identification and analysis of the macro and micro factors that affect the growth of the industry for each region as well as for countries.
BREAKING NEWS Yokohama recently showcased its new premium high-performance Advan Fleva V701 tires at REIFEN Show in Germany. The company claims this tire to be an all new atandard of high performance tire, with extreme wet grip, emotional handling, low noise and an attractive design
1.1 Research Methodology
1.2 Key Findings of the Study
2. KEY FINDINGS
3. EXECUTIVE SUMMARY
4. MARKET OVERVIEW AND TECHNOLOGY TRENDS
4.1 Current Market Scenario
4.2 Technology Trends
4.3 Porter's Five Forces Framework
4.3.1 Bargaining Power of Suppliers
4.3.2 Bargaining Power of Consumers
4.3.3 Threat of New Entrants
4.3.4 Threat of Substitute Products and Services
4.3.5 Competitive Rivalry within the industry
5. MARKET DYNAMICS
5.4 Procurement Strategies
6. GLOBAL AUTOMOTIVE HIGH PERFORMANCE TIRES MARKET, BY TIRE TYPE (Growth, Innovations and Feasibility )
6.1 Racing Slicks
6.2 Tread Tires
7. GLOBAL AUTOMOTIVE HIGH PERFORMANCE TIRES MARKET, BY END CONSUMERS (Growth, Trends, Forecasts)
8. GLOBAL AUTOMOTIVE HIGH PERFORMANCE TIRES MARKET, BY VEHICLE TYPE (Growth, Trends and Durability)
8.1 Racing Vehicles
8.1.1 Formula Racing
8.1.2 Sports Car Racing
8.1.3 Stock Car/Touring Car Racing
9. GLOBAL AUTOMOTIVE TIRES MARKET ,BY GEOGRAPHY
9.1 North America (NA)
9.2 Europe (EU)
9.3 Asia-Pacific (APAC)
9.4 Middle-East and Africa (MEA)
9.4.2 South Africa
9.4.3 Saudi Arabia
9.4.5 Rest of the MEA
9.5 Latin America
9.5.5 Rest of Latin America
10. COMPETITIVE LANDSCAPE
10.2 Value Chain Analysis
10.3 Market Share Analysis
10.4 Developments of Key players
11. KEY VENDOR ANALYSIS
11.3 Cooper Tire & Rubber Company
11.4 Goodyear Dunlop Tires
11.5 Hankook Tire Co. Ltd.
11.6 Kumho Tires
11.7 Michelin Group
11.8 MRF Tires
11.9 Pirelli & C. S.P.A.
11.10 Sumitomo Rubber Industries, Ltd.
11.11 Yokohama Rubber Co., Ltd.
12. FUTURE AND INVESTMENT OUTLOOK