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.
Key Developments in the Market
- April 2016: Michelin announced the specially developed version of its Pilot Sport Cup 2 tires, to be the sole original equipment fitment on the new limited special model BMW M4 GTS.
- January 2018: Petlas’ forklift tires range has been stretched out to include 17 sizes and three patterns (HL10, HL30 and HL40).
- January 2015: Michelin launched the BIBLOAD, which is specifically designed for asphalt and other solid surface applications.
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1.1 Study Deliverables
1.2 General Study Assumptions
2. Research Methodology
2.2 Analysis Methodology
2.3 Study Phases
2.4 Econometric Modelling
3. Executive Summary
4. Market Overview and Trends
4.2 Market Trends
4.3 Porter’s Five Force 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
5.1.1 Growing Popularity of Diverse Racing Competitions
5.1.2 Focus on Decreasing Rolling Resistance for Better Fuel Economy
5.2.1 End-Usage Limitations
5.2.2 Fluctuating Raw Material Prices
5.3.1 Reintroduction of Slick Tires
6. Global High Performance Tire Market Segmentation, By Tire Type
6.1 Racing Slicks
6.2 Tread Tires
7. Global High Performance Tire Market Segmentation, By End Consumers
8. Global High Performance Tire Market Segmentation, By Vehicle Type
8.1 Racing Vehicles
8.1.1 Formula Racing
8.1.2 Sports Car Racing
8.1.3 Stock Car/Touring Car Racing
8.2 OTR (Off-The-Road)
9. Global High Performance Tire Market Segmentation, Segmented By Region
9.1 North America
9.1.1 United States
9.1.3 Rest of North America
9.2.4 Rest of Asia-Pacific
9.3.1 United Kingdom
9.3.5 Rest of Europe
9.4 Rest of the World
9.4.2 South Africa
10. Competitive Landscape and Introduction
10.2 Market Share Analysis
10.3 Developments of Key Players
11. Key Vendor Analysis (Overview, Products & Services, Strategies)
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.
- 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.