GLOBAL AUTOMOTIVE HIGH-PERFORMANCE TIRE MARKET FORECAST 2018-2026

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GLOBAL AUTOMOTIVE HIGH-PERFORMANCE TIRE MARKET FORECAST 2018-2026

The global automotive high-performance tire market is estimated to grow at 14.19% CAGR during the years 2018-2026. The base year considered for the study is 2017 and the forecast period is between 2018 and 2026. Major drivers responsible for the market growth are: Rise in the popularity of various racing competitions

GLOBAL AUTOMOTIVE HIGH-PERFORMANCE TIRES MARKET FORECAST 2018-2026

Automotive High-Performance Tires Market by Tire Usage (Competition Tires, Wet Weather Tires) by Application (Racing Automotive, Passenger Automotive, Other Automotive) by Buyer (Original Equipment Manufacturers, Aftermarket) by Geography.

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The global automotive high-performance tire market is estimated to grow at 14.19% CAGR during the years 2018-2026. The base year considered for the study is 2017 and the forecast period is between 2018 and 2026. Major drivers responsible for the market growth are:

  • Rise in the popularity of various racing competitions
  • Recycling of tires
  • Improvements and innovations

Automotive High-performance Tire Market

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The market is primarily driven by a rise in popularity of various racing competitions. The sales of high-performance tires have increased significantly due to the rise in a number of automotive racing competitions. Popular racing events such as F1 (Formula One), National Association for Stock Car Auto Racing (NASCAR), and motorbike competitions like Moto GP, Superbike Championship, attract many sponsorships and promotional activities from some of the big brands of the global automotive tires industry. Competitive racing has gained popularity in various emerging economies, which has also been a crucial factor driving the market growth for high-performance tires.

The global automotive high-performance tire market was dominated by the passenger vehicles, which accounted for a market share of XX% in 2017. This segment includes high-performance tires for SUV, D, E and F segment passenger cars. The market here is dominated to OEM fit as automotive manufacturers, and customers depend and trust mostly the OEM products due to unavailability of original quality products in the after/replacement market, where the cost is not a restriction. The market for Luxury and premium vehicles has been increasing globally, led by the Asian and the Middle Eastern nations. However, the racing vehicles market has emerged as the fastest growing vehicle type market in the high-performance tire industry with a CAGR of XX%.  Racing vehicles hold similarities with conventional road cars in terms of having four wheels, a drive train and a powerful engine. However, when considered in terms of raw power management, racing technology is totally deviating from the conventional cars. Racing vehicles deliver high raw power, and the driver is generally responsible for filtering the force as the car is driven. Suspensions of a racing car are extremely stiff and transmit even the finest textures of the road to the steering wheel.

Though the market has several growth drivers, it is still curtailed by certain challenges. Factors such as the high cost of tires, limitations to end users, stringent government regulations, and premium pricing hinder the growth of this market. Stringent government regulations is a major challenge for the global automotive high-performance tire market. Various regulations are imposed on tire manufacturing, especially in developed regions, which is hindering the growth of the market. Tire manufacturers that do not comply with the regulations are often subjected to fines and other remedial measures. For instance, under 112(d) of the Clean Air Act (CAA), the National Emission Standards for Hazardous Air Pollutants (NESHAP), new and existing manufacturing facilities of tires used in agricultural equipment, aeroplanes, road vehicles such as cars, buses, and trucks are levied for emission reduction.

Research scope of automotive high-performance tire market covers segmentation analysis of tire type, vehicle type and end user type.

The automotive high-performance tire market by tire type includes:

  • Racing Slicks
  • Tread Tires

The automotive high-performance tire market by vehicle type includes:

  • Racing vehicles
  • Passenger vehicles
  • Others

The racing vehicles segment includes:

  • Formula Racing
  • Sports Car
  • Touring Racing

The automotive high-performance tire market by end user type includes:

  • OEM
  • Replacement

Geographically, the automotive high-performance tire market is segmented into:

Currently, Europe dominates the automotive high-performance tire market. However, this trend is expected to change over the forecast years. The Asia Pacific automotive high-performance tire market is expected to have the largest market share by the end of the forecast period. It has also emerged as the fastest growing region in the market, driven by countries such as China, Japan, India, South Korea and Australia. With a high rate of industrialization, the Chinese market for automotive high-performance tire leads the APAC region, followed by Japan and India. South Korea, with its high premium and luxury car sales, also maintains a stronghold in the Asia Pacific market. Yokohama, MRF, Bridgestone, and Sumitomo are few of the leading Asia Pacific-based tire manufacturers. India emerged as the fastest growing economy whereas China emerged as the largest economy in the automotive high-performance tire market.

In the automotive high-performance tire market, some key players have already consolidated their positions. These include:

  • Bridgestone
  • Goodyear
  • Michelin
  • Pirelli
  • Yokohama

To gain a competitive edge or advantage over other players, market players continually look for new product development and packaging innovations, along with several other business strategies like merger and acquisitions, strategic alliance, business expansions, and horizontal and vertical integrations. These major players also face a strong competition from the domestic or local companies. For instance, in January 2018, Michelin acquired truck tire supplier and service provider, Tructyre Fleet Management, which has 26 service centers across the UK. The deal enables the Tructyre service brands to be run and developed as part of a strategic alliance with ATS Euromaster. In April 2018, Goodyear and Bridgestone America partnered to launch TireHub LLC, a tire-distribution joint venture. The partnership combined Bridgestone’s Tire Wholesale Warehouse with Akron, Ohio-based Goodyear’s company-owned distribution network.

Key findings of global automotive high-performance tire market:

  • Asia Pacific emerges as the fastest growing region
  • India emerges as the fastest growing country
  • Rise in demand of high-performance tires in racing vehicles
  • Growing use of racing slicks/slick tires
  1. RESEARCH SCOPE
    • STUDY GOALS
    • SCOPE OF THE MARKET STUDY
    • WHO WILL FIND THIS REPORT USEFUL?
    • STUDY AND FORECASTING YEARS
  2. RESEARCH METHODOLOGY
    • SOURCES OF DATA
      • SECONDARY DATA
      • PRIMARY DATA
    • TOP DOWN APPROACH
    • BOTTOM-UP APPROACH
    • DATA TRIANGULATION
  3. EXECUTIVE SUMMARY
    • MARKET SUMMARY
    • KEY FINDINGS
      • ASIA PACIFIC EMERGES AS THE FASTEST GROWING REGION
      • INDIA EMERGES AS THE FASTEST GROWING COUNTRY
      • RISE IN DEMAND OF HIGH-PERFORMANCE TIRES IN RACING VEHICLES
      • GROWING USE OF RACING SLICK/SLICK TIRES
  1. MARKET DYNAMICS
    • MARKET DEFINITION
    • MARKET DRIVERS
      • RISE IN POPULARITY OF VARIOUS RACING COMPETITIONS
      • RECYCLING OF TIRES
      • IMPROVEMENTS AND INNOVATIONS
    • MARKET RESTRAINTS
      • LIMITATIONS TO END USERS
      • HIGH COST OF TIRES
    • MARKET OPPORTUNITIES
      • REINTRODUCTION OF SLICK TIRES
    • MARKET CHALLENGES
      • STRINGENT GOVERNMENT REGULATIONS
      • PREMIUM PRICING
  1. MARKET BY TIRE TYPE
    • RACING SLICKS
    • TREAD TIRES
  2. MARKET BY VEHICLE
    • RACING VEHICLES
      • FORMULA CAR RACING
      • SPORTS CAR RACING
      • TOURING CAR RACING
    • PASSENGER VEHICLES
    • OTHERS
  3. MARKET BY END USER
    • OEMS
    • REPLACEMENT/ AFTERMARKET
  4. . KEY ANALYTICS
    • PORTER’S FIVE FORCE ANALYSIS
      • THREAT OF NEW ENTRANTS
      • THREAT OF SUBSTITUTES
      • BARGAINING POWER OF BUYER
      • BARGAINING POWER OF SUPPLIER
      • INTENSITY OF COMPETITIVE RIVALRY
    • VENDOR’S LANDSCAPE
    • OPPORTUNITY MATRIX
  5. GEOGRAPHICAL ANALYSIS
    • NORTH AMERICA
      • UNITED STATES
      • CANADA
    • EUROPE
      • GERMANY
      • FRANCE
      • ITALY
      • UNITED KINGDOM
      • SPAIN
      • RUSSIA
      • REST OF EUROPE
    • ASIA PACIFIC
      • CHINA
      • JAPAN
      • INDIA
      • SOUTH KOREA
      • AUSTRALIA
      • REST OF ASIA PACIFIC
    • LATIN AMERICA
      • BRAZIL
      • ARGENTINA
      • MEXICO
      • REST OF LATIN AMERICA
    • MIDDLE EAST AND AFRICA (MEA)
      • SOUTH AFRICA
      • SAUDI ARABIA
      • UNITED ARAB EMIRATES (UAE)
      • REST OF MIDDLE EAST & AFRICA (MEA)
  1. COMPETITIVE LANDSCAPE
    • MARKET SHARE ANALYSIS
    • CORPORATE STRATEGY
    • COMPANY PROFILE
      • BRIDGESTONE CORPORATION
      • CONTINENTAL AG
      • COOPER TIRE & RUBBER COMPANY
      • GOODYEAR TIRE & RUBBER COMPANY
      • KUMHO TIRES INC.
      • MICHELIN
      • MRF
      • PIRELLI & C.SPA
      • SUMITOMO TIRES
      • YOKOHAMA RUBBER CO., LTD.
      • HANKOOK TIRES
LIST OF TABLES
TABLE 1 GLOBAL AUTOMOTIVE HIGH-PERFORMANCE TIRE MARKET BY REGION 2018-2026 (USD BILLION)

TABLE 2 GLOBAL AUTOMOTIVE HIGH-PERFORMANCE TIRE BY TIRE TYPE 2018-2026 (USD BILLION)

TABLE 3 GLOBAL RACING SLICKS MARKET BY REGION 2018-2026 (USD BILLION)

TABLE 4 GLOBAL TREAD TIRE MARKET BY REGION 2018-2026 (USD BILLION)

TABLE 5 GLOBAL AUTOMOTIVE HIGH-PERFORMANCE TIRE MARKET BY VEHICLE TYPE 2018-2026 (USD BILLION)

TABLE 6 GLOBAL AUTOMOTIVE HIGH-PERFORMANCE TIRE MARKET BY RACING VEHICLE TYPE, 2018-2026 (USD BILLION)

TABLE 7 GLOBAL RACING VEHICLE MARKET BY REGION 2018-2026 (USD BILLION)

TABLE 8 GLOBAL FORMULA CAR RACING MARKET BY REGION 2018-2026 (USD BILLION)

TABLE 9 GLOBAL SPORTS CAR RACING MARKET BY REGION 2018-2026 (USD BILLION)

TABLE 10 GLOBAL TOURING CAR RACING MARKET BY REGION 2018-2026 (USD BILLION)

TABLE 11 GLOBAL PASSENGER VEHICLE MARKET BY REGION 2018-2026 (USD BILLION)

TABLE 12 OTHER VEHICLE MARKET BY REGION 2018-2026 (USD BILLION)

TABLE 13 GLOBAL AUTOMOTIVE HIGH-PERFORMANCE TIRE MARKET BY END USERS 2018-2026 (USD BILLION)

TABLE 14 GLOBAL OEM MARKET BY REGION 2018-2026 (USD BILLION)

TABLE 15 GLOBAL REPLACEMENT MARKET BY REGION 2018-2026 (USD BILLION)

TABLE 16 VENDOR’S LANDSCAPE

TABLE 17 OPPORTUNITY MATRIX

TABLE 18 2018 FIA FORMULA ONE WORLD CHAMPIONSHIP SCHEDULE

TABLE 19 GLOBAL AUTOMOTIVE HIGH-PERFORMANCE TIRE MARKET BY GEOGRAPHY 2018-2026 (USD BILLION)

TABLE 20 NORTH AMERICA AUTOMOTIVE HIGH-PERFORMANCE TIRE MARKET BY COUNTRY 2018-2026 (USD BILLION)

TABLE 21 EUROPE AUTOMOTIVE HIGH-PERFORMANCE TIRE MARKET BY COUNTRY 2018-2026 (USD BILLION)

TABLE 22 ASIA PACIFIC AUTOMOTIVE HIGH-PERFORMANCE TIRE MARKET BY COUNTRY 2018-2026 (USD BILLION)

TABLE 23 LATIN AMERICA AUTOMOTIVE HIGH-PERFORMANCE TIRE MARKET BY COUNTRY 2018-2026 (USD BILLION)

TABLE 24 MIDDLE EAST & AFRICA AUTOMOTIVE HIGH-PERFORMANCE TIRE MARKET 2018-2026 (USD BILLION)

TABLE 25 STRATEGIES INVOLVED IN AUTOMOTIVE HIGH-PERFORMANCE TIRE MARKET

LIST OF FIGURES
FIGURE 1 GLOBAL HIGH-PERFORMANCE TIRE MARKET BY VEHICLE TYPE, 2017 & 2026 (USD BILLION)

FIGURE 2 ASIA PACIFIC AUTOMOTIVE HIGH-PERFORMANCE TIRE MARKET 2018-2026 (USD BILLION)

FIGURE 3 INDIA AUTOMOTIVE HIGH-PERFORMANCE TIRE MARKET 2018-2026 (USD BILLION)

FIGURE 4 GLOBAL AUTOMOTIVE HIGH-PERFORMANCE TIRE MARKET BY RACING VEHICLE 2018-2026 (USD BILLION)

FIGURE 5 GLOBAL AUTOMOTIVE HIGH-PERFORMANCE TIRE MARKET BY RACING SLICKS 2018-2026 (USD BILLION)

FIGURE 6 GLOBAL AUTOMOTIVE HIGH-PERFORMANCE TIRE MARKET BY TIRE TYPE, IN 2017 & 2026 (IN %)

FIGURE 7 GLOBAL HIGH-PERFORMANCE TIRE MARKET BY RACING SLICKS 2018-2026 (USD BILLION)

FIGURE 8 GLOBAL AUTOMOTIVE HIGH-PERFORMANCE TIRE MARKET BY TREAD TIRE 2018-2026 (USD BILLION)

FIGURE 9 GLOBAL AUTOMOTIVE HIGH-PERFORMANCE TIRE MARKET BY VEHICLE TYPE, IN 2017 & 2026 (IN %)

FIGURE 10 GLOBAL AUTOMOTIVE HIGH-PERFORMANCE TIRE MARKET SHARE, BY RACING VEHICLES (2017)

FIGURE 11 GLOBAL AUTOMOTIVE HIGH-PERFORMANCE TIRE MARKET BY FORMULA CAR RACING 2018-2026 (USD BILLION)

FIGURE 12 GLOBAL AUTOMOTIVE HIGH-PERFORMANCE TIRE MARKET BY SPORTS CAR RACING 2018-2026 (USD BILLION)

FIGURE 13 GLOBAL AUTOMOTIVE HIGH-PERFORMANCE TIRE MARKET BY TOURING CAR RACING 2018-2026 (USD BILLION)

FIGURE 14 GLOBAL ALL VEHICLE PRODUCTION STATISTICS, 2013-17 (IN UNITS)

FIGURE 15 GLOBAL AUTOMOTIVE HIGH-PERFORMANCE TIRE MARKET BY PASSENGER VEHICLES TYPE 2018-2026 (USD BILLION)

FIGURE 16 GLOBAL AUTOMOTIVE HIGH-PERFORMANCE TIRE MARKET BY OTHER VEHICLES 2018-2026 (USD BILLION)

FIGURE 17 GLOBAL AUTOMOTIVE HIGH-PERFORMANCE TIRE MARKET BY END USERS, IN 2017 & 2026 (IN %)

FIGURE 18 GLOBAL AUTOMOTIVE HIGH-PERFORMANCE TIRE MARKET BY OEM 2018-2026 (USD BILLION)

FIGURE 19 GLOBAL AUTOMOTIVE HIGH-PERFORMANCE TIRE MARKET BY REPLACEMENT 2018-2026 (USD BILLION)

FIGURE 20 PORTER’S FIVE FORCE ANALYSIS

FIGURE 21 GLOBAL AUTOMOTIVE HIGH-PERFORMANCE TIRE MARKET BY GEOGRAPHY, 2017 & 2016 (IN %)

FIGURE 22 UNITED STATES AUTOMOTIVE HIGH-PERFORMANCE TIRE MARKET 2018-2026 (USD BILLION)

FIGURE 23 CANADA AUTOMOTIVE HIGH-PERFORMANCE TIRE MARKET 2018-2026 (USD BILLION)

FIGURE 24 GERMANY AUTOMOTIVE HIGH-PERFORMANCE TIRE MARKET 2018-2026 (USD BILLION)

FIGURE 25 FRANCE AUTOMOTIVE HIGH-PERFORMANCE TIRE MARKET 2018-2026 (USD BILLION)

FIGURE 26 ITALY AUTOMOTIVE HIGH-PERFORMANCE TIRE MARKET 2018-2026 (USD BILLION)

FIGURE 27 UNITED KINGDOM AUTOMOTIVE HIGH-PERFORMANCE TIRE MARKET 2018-2026 (USD BILLION)

FIGURE 28 SPAIN AUTOMOTIVE HIGH-PERFORMANCE TIRE MARKET 2018-2026 (USD BILLION)

FIGURE 29 RUSSIA AUTOMOTIVE HIGH-PERFORMANCE TIRES MARKET 2018-2026 (USD BILLION)

FIGURE 30 REST OF EUROPE HIGH-PERFORMANCE TIRE MARKET 2018-2026 (USD BILLION)

FIGURE 31 CHINA AUTOMOTIVE HIGH-PERFORMANCE TIRE MARKET 2018-2026 (USD BILLION)

FIGURE 32 JAPAN AUTOMOTIVE HIGH-PERFORMANCE TIRE MARKET 2018-2026 (USD BILLION)

FIGURE 33 INDIA AUTOMOTIVE HIGH-PERFORMANCE TIRE MARKET 2018-2026 (USD BILLION)

FIGURE 34 SOUTH KOREA AUTOMOTIVE HIGH-PERFORMANCE TIRE MARKET 2018-2026 (USD BILLION)

FIGURE 35 AUSTRALIA AUTOMOTIVE HIGH-PERFORMANCE TIRE MARKET 2018-2026 (USD BILLION)

FIGURE 36 REST OF ASIA-PACIFIC AUTOMOTIVE HIGH-PERFORMANCE TIRE MARKET 2018-2026 (USD BILLION)

FIGURE 37 BRAZIL AUTOMOTIVE HIGH-PERFORMANCE TIRE MARKET 2018-2026 (USD BILLION)

FIGURE 38 ARGENTINA AUTOMOTIVE HIGH-PERFORMANCE TIRE MARKET 2018-2026 (USD BILLION      )

FIGURE 39 MEXICO AUTOMOTIVE HIGH-PERFORMANCE TIRE MARKET 2018-2026 (USD BILLION)

FIGURE 40 REST OF LATIN AMERICA AUTOMOTIVE HIGH-PERFORMANCE TIRE MARKET 2018-2026 (USD BILLION)

FIGURE 41 SOUTH AFRICA AUTOMOTIVE HIGH-PERFORMANCE TIRE MARKET 2018-2026 (USD BILLION)

FIGURE 42 SAUDI ARABIA AUTOMOTIVE HIGH-PERFORMANCE TIRE MARKET 2018-2026 (USD BILLION)

FIGURE 43 UAE AUTOMOTIVE HIGH-PERFORMANCE TIRE MARKET 2018-2026 (USD BILLION)

FIGURE 44 REST OF MEA AUTOMOTIVE HIGH-PERFORMANCE TIRE MARKET 2018-2026 (USD BILLION)

FIGURE 45 GLOBAL AUTOMOTIVE HIGH-PERFORMANCE TIRE MARKET SHARE ANALYSIS

  1. MARKET BY TIRE TYPE
    • RACING SLICKS
    • TREAD TIRES
  2. MARKET BY VEHICLE
    • RACING VEHICLES
      • FORMULA CAR RACING
      • SPORTS CAR RACING
      • TOURING CAR RACING
    • PASSENGER VEHICLES
    • OTHERS
  3. MARKET BY END USER
    • OEMS
    • REPLACEMENT/ AFTERMARKET
  4. GEOGRAPHICAL ANALYSIS
    • NORTH AMERICA
      • UNITED STATES
      • CANADA
    • EUROPE
      • GERMANY
      • FRANCE
      • ITALY
      • UNITED KINGDOM
      • SPAIN
      • RUSSIA
      • REST OF EUROPE
    • ASIA PACIFIC
      • CHINA
      • JAPAN
      • INDIA
      • SOUTH KOREA
      • AUSTRALIA
      • REST OF ASIA PACIFIC
    • LATIN AMERICA
      • BRAZIL
      • ARGENTINA
      • MEXICO
      • REST OF LATIN AMERICA
    • MIDDLE EAST AND AFRICA (MEA)
      • SOUTH AFRICA
      • SAUDI ARABIA
      • UNITED ARAB EMIRATES (UAE)
      • REST OF MIDDLE EAST & AFRICA (MEA)

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