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Racing Tire Market Report by Tire Type (Racing Slick Tires, Racing Treaded Tires), Application (Auto Racing Tires, Motorcycle Racing Tires), Distribution Channel (Replacement Tires, OEMs), and Region 2024-2032
Market Report I 2024-07-01 I 136 Pages I IMARC Group
The global racing tire market size reached US$ 11.8 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 19.5 Billion by 2032, exhibiting a growth rate (CAGR) of 5.6% during 2024-2032. The rising popularity of motorsports across the globe, the escalating demand for efficient and high-performance vehicles, and the introduction of advanced product variants with various features represent some of the key factors driving the market.
Racing tires are specialized tires designed to meet the demanding requirements of motorsports. They are engineered to provide exceptional grip, handling, and speed, which are essential for racing vehicles to perform. These tires are made from high-quality materials, such as synthetic rubber compounds, that can withstand the extreme conditions of racing. They are also designed with unique tread patterns and sidewall constructions that provide maximum traction and stability on the track. One of the most critical aspects of racing tires is their ability to withstand high speeds and temperatures without losing performance. They are developed to control the intense heat generated by high-speed driving without losing their grip or durability. In addition, they are lighter and more responsive than standard tires, which allows for greater control and maneuverability on the track. Over the years, with the growing popularity of motorsports, there has been an escalating demand for high-quality racing tires.
Racing Tire Market Trends:
The market is primarily driven by the growing popularity of motorsports events such as Formula One, NASCAR, and the World Rally Championship. The growing interest in motorsports has led to an increase in the number of participants, which has, in turn, created a higher demand for racing tires. Several amateur and professional racing events require participants to use specialized racing tires, which are designed to provide exceptional grip, handling, and speed. In addition, the expanding automotive industry and the escalating demand for high-performance cars and specialized tires that can handle the increased speed represent another major growth-inducing factor. Besides this, various advancements in tire technology and the introduction of racing tires that offer better performance, durability, and safety and are lighter and more fuel-efficient are also contributing to market growth. Moreover, various leading players are sponsoring racing teams and providing them with free or discounted tires in exchange for brand exposure. These deals help manufacturers to promote their products and gain a competitive edge in the market. They are also engaging in collaborations and mergers and acquisitions (M&As) to strengthen their market foothold. Furthermore, numerous regulations and standards set by racing organizations, such as the FIA, have driven the development of safer and more durable racing tires, leading to increased demand for these products.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each segment of the global racing tire market, along with forecasts at the global, regional, and country levels from 2024-2032. Our report has categorized the market based on tire type, application, and distribution channel.
Tire Type Insights:
Racing Slick Tires
Racing Treaded Tires
The report has provided a detailed breakup and analysis of the racing tire market based on the tire type. This includes racing slick tires and racing treaded tires. According to the report, racing slick tires represented the largest segment.
Application Insights:
Auto Racing Tires
Motorcycle Racing Tires
A detailed breakup and analysis of the racing tire market based on the application has also been provided in the report. This includes auto racing tires and motorcycle racing tires. According to the report, auto racing tires accounted for the largest market share.
Distribution Channel Insights:
Replacement Tires
OEMs
The report has provided a detailed breakup and analysis of the racing tire market based on the distribution channel. This includes racing replacement tires and OEMs. According to the report, replacement tires represented the largest segment.
Regional Insights:
North America
United States
Canada
Europe
Germany
France
United Kingdom
Italy
Spain
Russia
Others
Asia Pacific
China
Japan
India
South Korea
Australia
Indonesia
Others
Latin America
Brazil
Mexico
Others
Middle East and Africa
The report has also provided a comprehensive analysis of all the major regional markets, which include North America (the United States and Canada); Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Latin America (Brazil, Mexico, and others); and the Middle East and Africa. According to the report, Europe was the largest market for racing tire. Some of the factors driving the Europe racing tire market included the increasing participation in motor sports, the escalating demand for high-performance vehicles, and the introduction of advanced product variants.
Competitive Landscape:
The report has also provided a comprehensive analysis of the competitive landscape in the global racing tire market. Detailed profiles of all major companies have been provided. Some of the companies covered include Apollo Tyres Limited, Bridgestone Corporation, Continental AG, Hankook Tire & Technology Co. Ltd., Pirelli & C. S.p.A., The Goodyear Tire & Rubber Company, The Yokohama Rubber Company Limited, Zhongce Rubber Group Co. Ltd., etc. Kindly note that this only represents a partial list of companies, and the complete list has been provided in the report.
Key Questions Answered in This Report:
How has the global racing tire market performed so far, and how will it perform in the coming years?
What are the drivers, restraints, and opportunities in the global racing tire market?
What is the impact of each driver, restraint, and opportunity on the global racing tire market?
What are the key regional markets?
Which countries represent the most attractive racing tire market?
What is the breakup of the market based on the tire type?
Which is the most attractive tire type in the racing tire market?
What is the breakup of the market based on the application?
Which is the most attractive application in the racing tire market?
What is the breakup of the market based on distribution channel?
Which is the most attractive distribution channel in the racing tire market?
What is the competitive structure of the global racing tire market?
Who are the key players/companies in the global racing tire market?
1 Preface
2 Scope and Methodology
2.1 Objectives of the Study
2.2 Stakeholders
2.3 Data Sources
2.3.1 Primary Sources
2.3.2 Secondary Sources
2.4 Market Estimation
2.4.1 Bottom-Up Approach
2.4.2 Top-Down Approach
2.5 Forecasting Methodology
3 Executive Summary
4 Introduction
4.1 Overview
4.2 Key Industry Trends
5 Global Racing Tire Market
5.1 Market Overview
5.2 Market Performance
5.3 Impact of COVID-19
5.4 Market Forecast
6 Market Breakup by Tire Type
6.1 Racing Slick Tires
6.1.1 Market Trends
6.1.2 Market Forecast
6.2 Racing Treaded Tires
6.2.1 Market Trends
6.2.2 Market Forecast
7 Market Breakup by Application
7.1 Auto Racing Tires
7.1.1 Market Trends
7.1.2 Market Forecast
7.2 Motorcycle Racing Tires
7.2.1 Market Trends
7.2.2 Market Forecast
8 Market Breakup by Distribution Channel
8.1 Replacement Tires
8.1.1 Market Trends
8.1.2 Market Forecast
8.2 OEMs
8.2.1 Market Trends
8.2.2 Market Forecast
9 Market Breakup by Region
9.1 North America
9.1.1 United States
9.1.1.1 Market Trends
9.1.1.2 Market Forecast
9.1.2 Canada
9.1.2.1 Market Trends
9.1.2.2 Market Forecast
9.2 Asia-Pacific
9.2.1 China
9.2.1.1 Market Trends
9.2.1.2 Market Forecast
9.2.2 Japan
9.2.2.1 Market Trends
9.2.2.2 Market Forecast
9.2.3 India
9.2.3.1 Market Trends
9.2.3.2 Market Forecast
9.2.4 South Korea
9.2.4.1 Market Trends
9.2.4.2 Market Forecast
9.2.5 Australia
9.2.5.1 Market Trends
9.2.5.2 Market Forecast
9.2.6 Indonesia
9.2.6.1 Market Trends
9.2.6.2 Market Forecast
9.2.7 Others
9.2.7.1 Market Trends
9.2.7.2 Market Forecast
9.3 Europe
9.3.1 Germany
9.3.1.1 Market Trends
9.3.1.2 Market Forecast
9.3.2 France
9.3.2.1 Market Trends
9.3.2.2 Market Forecast
9.3.3 United Kingdom
9.3.3.1 Market Trends
9.3.3.2 Market Forecast
9.3.4 Italy
9.3.4.1 Market Trends
9.3.4.2 Market Forecast
9.3.5 Spain
9.3.5.1 Market Trends
9.3.5.2 Market Forecast
9.3.6 Russia
9.3.6.1 Market Trends
9.3.6.2 Market Forecast
9.3.7 Others
9.3.7.1 Market Trends
9.3.7.2 Market Forecast
9.4 Latin America
9.4.1 Brazil
9.4.1.1 Market Trends
9.4.1.2 Market Forecast
9.4.2 Mexico
9.4.2.1 Market Trends
9.4.2.2 Market Forecast
9.4.3 Others
9.4.3.1 Market Trends
9.4.3.2 Market Forecast
9.5 Middle East and Africa
9.5.1 Market Trends
9.5.2 Market Breakup by Country
9.5.3 Market Forecast
10 Drivers, Restraints, and Opportunities
10.1 Overview
10.2 Drivers
10.3 Restraints
10.4 Opportunities
11 Value Chain Analysis
12 Porters Five Forces Analysis
12.1 Overview
12.2 Bargaining Power of Buyers
12.3 Bargaining Power of Suppliers
12.4 Degree of Competition
12.5 Threat of New Entrants
12.6 Threat of Substitutes
13 Price Analysis
14 Competitive Landscape
14.1 Market Structure
14.2 Key Players
14.3 Profiles of Key Players
14.3.1 Apollo Tyres Limited
14.3.1.1 Company Overview
14.3.1.2 Product Portfolio
14.3.1.3 Financials
14.3.2 Bridgestone Corporation
14.3.2.1 Company Overview
14.3.2.2 Product Portfolio
14.3.2.3 Financials
14.3.2.4 SWOT Analysis
14.3.3 Continental AG
14.3.3.1 Company Overview
14.3.3.2 Product Portfolio
14.3.3.3 Financials
14.3.3.4 SWOT Analysis
14.3.4 Hankook Tire & Technology Co. Ltd.
14.3.4.1 Company Overview
14.3.4.2 Product Portfolio
14.3.4.3 Financials
14.3.5 Pirelli & C. S.p.A.
14.3.5.1 Company Overview
14.3.5.2 Product Portfolio
14.3.5.3 Financials
14.3.5.4 SWOT Analysis
14.3.6 The Goodyear Tire & Rubber Company
14.3.6.1 Company Overview
14.3.6.2 Product Portfolio
14.3.6.3 Financials
14.3.6.4 SWOT Analysis
14.3.7 The Yokohama Rubber Company Limited
14.3.7.1 Company Overview
14.3.7.2 Product Portfolio
14.3.7.3 Financials
14.3.7.4 SWOT Analysis
14.3.8 Zhongce Rubber Group Co. Ltd.
14.3.8.1 Company Overview
14.3.8.2 Product Portfolio
Figure 1: Global: Racing Tire Market: Major Drivers and Challenges
Figure 2: Global: Racing Tire Market: Sales Value (in Billion US$), 2018-2023
Figure 3: Global: Racing Tire Market Forecast: Sales Value (in Billion US$), 2024-2032
Figure 4: Global: Racing Tire Market: Breakup by Tire Type (in %), 2023
Figure 5: Global: Racing Tire Market: Breakup by Application (in %), 2023
Figure 6: Global: Racing Tire Market: Breakup by Distribution Channel (in %), 2023
Figure 7: Global: Racing Tire Market: Breakup by Region (in %), 2023
Figure 8: Global: Racing Tire (Racing Slick Tires) Market: Sales Value (in Million US$), 2018 & 2023
Figure 9: Global: Racing Tire (Racing Slick Tires) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 10: Global: Racing Tire (Racing Treaded Tires) Market: Sales Value (in Million US$), 2018 & 2023
Figure 11: Global: Racing Tire (Racing Treaded Tires) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 12: Global: Racing Tire (Auto Racing Tires) Market: Sales Value (in Million US$), 2018 & 2023
Figure 13: Global: Racing Tire (Auto Racing Tires) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 14: Global: Racing Tire (Motorcycle Racing Tires) Market: Sales Value (in Million US$), 2018 & 2023
Figure 15: Global: Racing Tire (Motorcycle Racing Tires) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 16: Global: Racing Tire (Replacement Tires) Market: Sales Value (in Million US$), 2018 & 2023
Figure 17: Global: Racing Tire (Replacement Tires) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 18: Global: Racing Tire (OEMs) Market: Sales Value (in Million US$), 2018 & 2023
Figure 19: Global: Racing Tire (OEMs) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 20: North America: Racing Tire Market: Sales Value (in Million US$), 2018 & 2023
Figure 21: North America: Racing Tire Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 22: United States: Racing Tire Market: Sales Value (in Million US$), 2018 & 2023
Figure 23: United States: Racing Tire Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 24: Canada: Racing Tire Market: Sales Value (in Million US$), 2018 & 2023
Figure 25: Canada: Racing Tire Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 26: Asia-Pacific: Racing Tire Market: Sales Value (in Million US$), 2018 & 2023
Figure 27: Asia-Pacific: Racing Tire Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 28: China: Racing Tire Market: Sales Value (in Million US$), 2018 & 2023
Figure 29: China: Racing Tire Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 30: Japan: Racing Tire Market: Sales Value (in Million US$), 2018 & 2023
Figure 31: Japan: Racing Tire Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 32: India: Racing Tire Market: Sales Value (in Million US$), 2018 & 2023
Figure 33: India: Racing Tire Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 34: South Korea: Racing Tire Market: Sales Value (in Million US$), 2018 & 2023
Figure 35: South Korea: Racing Tire Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 36: Australia: Racing Tire Market: Sales Value (in Million US$), 2018 & 2023
Figure 37: Australia: Racing Tire Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 38: Indonesia: Racing Tire Market: Sales Value (in Million US$), 2018 & 2023
Figure 39: Indonesia: Racing Tire Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 40: Others: Racing Tire Market: Sales Value (in Million US$), 2018 & 2023
Figure 41: Others: Racing Tire Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 42: Europe: Racing Tire Market: Sales Value (in Million US$), 2018 & 2023
Figure 43: Europe: Racing Tire Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 44: Germany: Racing Tire Market: Sales Value (in Million US$), 2018 & 2023
Figure 45: Germany: Racing Tire Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 46: France: Racing Tire Market: Sales Value (in Million US$), 2018 & 2023
Figure 47: France: Racing Tire Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 48: United Kingdom: Racing Tire Market: Sales Value (in Million US$), 2018 & 2023
Figure 49: United Kingdom: Racing Tire Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 50: Italy: Racing Tire Market: Sales Value (in Million US$), 2018 & 2023
Figure 51: Italy: Racing Tire Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 52: Spain: Racing Tire Market: Sales Value (in Million US$), 2018 & 2023
Figure 53: Spain: Racing Tire Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 54: Russia: Racing Tire Market: Sales Value (in Million US$), 2018 & 2023
Figure 55: Russia: Racing Tire Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 56: Others: Racing Tire Market: Sales Value (in Million US$), 2018 & 2023
Figure 57: Others: Racing Tire Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 58: Latin America: Racing Tire Market: Sales Value (in Million US$), 2018 & 2023
Figure 59: Latin America: Racing Tire Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 60: Brazil: Racing Tire Market: Sales Value (in Million US$), 2018 & 2023
Figure 61: Brazil: Racing Tire Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 62: Mexico: Racing Tire Market: Sales Value (in Million US$), 2018 & 2023
Figure 63: Mexico: Racing Tire Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 64: Others: Racing Tire Market: Sales Value (in Million US$), 2018 & 2023
Figure 65: Others: Racing Tire Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 66: Middle East and Africa: Racing Tire Market: Sales Value (in Million US$), 2018 & 2023
Figure 67: Middle East and Africa: Racing Tire Market: Breakup by Country (in %), 2023
Figure 68: Middle East and Africa: Racing Tire Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 69: Global: Racing Tire Industry: Drivers, Restraints, and Opportunities
Figure 70: Global: Racing Tire Industry: Value Chain Analysis
Figure 71: Global: Racing Tire Industry: Porter's Five Forces Analysis
Table 1: Global: Racing Tire Market: Key Industry Highlights, 2023 & 2032
Table 2: Global: Racing Tire Market Forecast: Breakup by Tire Type (in Million US$), 2024-2032
Table 3: Global: Racing Tire Market Forecast: Breakup by Application (in Million US$), 2024-2032
Table 4: Global: Racing Tire Market Forecast: Breakup by Distribution Channel (in Million US$), 2024-2032
Table 5: Global: Racing Tire Market Forecast: Breakup by Region (in Million US$), 2024-2032
Table 6: Global: Racing Tire Market: Competitive Structure
Table 7: Global: Racing Tire Market: Key Players
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