High-performance Tires Market: Global Industry Analysis and Forecast (2023-2029)

Global High-performance Tires Market is anticipated to reach US$ 53.36 Bn by 2029 from US$ 34.11 Bn in 2022 at a CAGR of 6.6% during a forecast period. High-performance tires are manufactured using silica compounds and additives, which deliver superior traction, provide fast response and quality ride handling. The growing trend for the vehicles like SUVs is driving the growth of high-performance tires.High-performance Tires Market To know about the Research Methodology :- Request Free Sample Report

High-performance Tires Market Dynamics

Growing young consumer's preference for the performance ride is driving the market's growth. These tires have a shorter stopping distance, lateral grip, and good wet traction, which improve vehicle safety. Thus, the rising trend for fuel efficiency from consumers has fueled the demand for high-performance tires. In addition, the growing different types of automotive racing competitions have increased significantly, which is expected to increase the sales of high-performance tires during the forecast period. Thus, competitive automotive racing was initially focused on popular car racing series, like Formula One, NASCAR, and motorbike races, which attracted many sponsorships and promotional activities. However, racing competitions have observed an increase in the number of races, with vehicles having varying engine sizes, like SUVs, dirt bikes, monster trucks, solar cars, sprint cars, and touring cars. An increase in vehicle ownership in developing countries, like India and Brazil, is expected to boost the high-performance tire market. People are demanding premium vehicles, including sport utility vehicles, luxury passenger cars, and sports cars, which are likely to be fitted with high-performance tires. Thus, the greater influence of vehicle ownership among the people of developing countries is expected to fuel the market's growth during the forecast period. In addition, tire manufacturers are employing new technologies in the development of ultra-high-performance tires that drive the limits of size, speed and performance characteristics. To meet evolving customer demands, many of these next-generation high-performance tires now offers multi-season driving safety, ride comfort, low noise, and better fuel efficiency. These new technologies for high-performance tires, which are often employed in sports cars are expected to offer growth opportunities during the forecast period.

Market Segment Analysis

By Sales Channel, the OEM segment dominated the market, with a market share of over 70%, and is expected to continue its dominance during the forecast period. The expansion of the OEM market is aided by the rising production of vehicles and stable output in the automobile sector. Increased consumer awareness of road safety, along with an increase in the frequency of traffic incidents, has compelled tire manufacturers to focus on tire efficiency and performance. As a result, tire producers are targeting the OEM segment for further growth and R&D spending. The aftermarket segment holds 30% of the market share in 2022. The growing average vehicle life and demand for the replacement of tire is expected to drive the growth of the segment during the forecast period. The replacement of high-performance tires presents a huge opportunity for tire manufacturers globally. Retailers are investing in marketing to increase their visibility as brands, and enhance their portfolios of high-performance tires that are available for online sales. The demand for high-performance tires in the aftermarket is mainly attributed to the faster wear and tear of softer rubber tires that are required to perform at extremely high speeds.

Market Regional Insights

In 2022, the high-performance tire market of U.S holds an xx% percent share and is expected to grow at 5.4% during the forecast period. The high-performance tire market of Europe is expected to reach 593 billion units by 2029. Countries in Western Europe, like the United Kingdom, Germany, and France, play a major role in contributing to the high-performance tires market. The region is also a host to many auto races, primarily in countries, such as France, Italy, Spain, and the United Kingdom. A rise in the auto races market is expected to increase the demand for racing tires. Germany is expected to grow at a CAGR of 3.4 percent during the forecast period. The increase in production standards of tire manufacturing and sustainable innovation are expected to emerge as a leading high-performance tire manufacturing location during the forecast period. Japan and Canada are expected to grow at 2.6 percent and 3.6 percent, respectively, throughout the forecast period. The objective of the report is to present a comprehensive analysis of the global High-performance Tires Market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants. PORTER, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers. The report also helps in understanding the global High-performance Tires Market dynamics, structure by analyzing the market segments and project the global High-performance Tires Market size. Clear representation of competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence in the global High-performance Tires Market make the report investor’s guide.

High-performance Tires Market Scope: Inquire before buying

High-performance Tires Market
Report Coverage Details
Base Year: 2022 Forecast Period: 2023-2029
Historical Data: 2018 to 2022 Market Size in 2022: US $ 34.11 Bn.
Forecast Period 2023 to 2029 CAGR: 6.6% Market Size in 2029: US $ 53.36 Bn.
Segments Covered: by Type Racing Slick Tread Tires Other Tire Types
by Sales Channel OEM Aftermarket
by Application Racing Cars Off-the Road Vehicles Other Vehicle Types

High-performance Tires Market, by Region

Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan and Rest of APAC) Europe (UK, France, Germany, Italy, Spain, Sweden, Austria and Rest of Europe) North America (United States, Canada and Mexico) Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A) South America (Brazil, Argentina Rest of South America)

High-performance Tires Market, Key Players are:

1. Continental AG 2. Bridgestone Corporation 3. Pirelli & C. SpA 4. MRF Limited 5. Michelin 6. Goodyear Tire & Rubber Company 7. Pirelli & C.S.p.A. 8. Sumitomo Rubber Industries, Ltd. 9. Yokohoma Rubber Co. Ltd. 10. Cooper Tire & Rubber Company 11. Cooper Tires 12. Goodyear 13. Hankook 14. Kumho Tires

Frequently Asked Questions

1. What is the projected market size & growth rate of Global High-performance Tires Market? Ans- High-performance Tires Market was valued at USD 34.11 billion in 2022 and is projected to reach USD 53.36 billion by 2029, growing at a CAGR of 6.6 % during the forecast period. 2. What is the key driving factor for the growth of Global High-performance Tires Market? Ans- Growing young consumer's preference for the performance ride is driving the market's growth. 3. Which Region accounted for the largest Global High-performance Tires Market share? Ans- North America is the largest market for the High-performance Tires. 4. What makes Germany a Lucrative Market for Global High-performance Tires Market? Ans- The increase in production standards of tire manufacturing and sustainable innovation are expected to emerge as a leading high-performance tire manufacturing location during the forecast period. 5. What are the top players operating in Global High-performance Tires Market? Ans- Continental AG, Bridgestone Corporation, Pirelli & C. SpA, MRF Limited, Michelin, Goodyear Tire & Rubber Company, and Pirelli & C.S.p.A.
1. Preface 1.1. Market Definition and Key Research Objectives 1.2. Research Highlights 2. Assumptions and Research Methodology 2.1. Report Assumptions 2.2. Abbreviations 2.3. Research Methodology 2.3.1. Secondary Research 2.3.1.1. Secondary data 2.3.1.2. Secondary Sources 2.3.2. Primary Research 2.3.2.1. Data from Primary Sources 2.3.2.2. Breakdown of Primary Sources 3. Executive Summary: Global High-performance Tires Market Size, by Market Value (US$ Mn) 3.1. Global Market Segmentation 3.2. Global Market Segmentation Share Analysis, 2022 3.2.1. Global 3.2.2. By Region (North America, Europe, Asia Pacific, South America, Middle East Africa) 3.3. Geographical Snapshot of the High-performance Tires Market 3.4. Geographical Snapshot of the High-performance Tires Market, By Manufacturer share 4. Global High-performance Tires Market Overview, 2022-2029 4.1. Market Dynamics 4.1.1. Drivers 4.1.1.1. Global 4.1.1.2. By Region (North America, Europe, Asia Pacific, South America, Middle East Africa) 4.1.2. Restraints 4.1.2.1. Global 4.1.2.2. By Region (North America, Europe, Asia Pacific, South America, Middle East Africa) 4.1.3. Opportunities 4.1.3.1. Global 4.1.3.2. By Region (North America, Europe, Asia Pacific, South America, Middle East Africa) 4.1.4. Challenges 4.1.4.1. Global 4.1.4.2. By Region (North America, Europe, Asia Pacific, South America, Middle East Africa) 4.1.5. Industry Trends and Emerging Technologies 4.1.6. Porters Five Forces Analysis 4.1.6.1. Threat of New Entrants 4.1.6.2. Bargaining Power of Buyers/Consumers 4.1.6.3. Bargaining Power of Suppliers 4.1.6.4. Threat of Substitute Products 4.1.6.5. Intensity of Competitive Rivalry 4.1.7. Value Chain Analysis 4.1.8. Technological Roadmap 4.1.9. Regulatory landscape 4.1.10. Impact of the Covid-19 Pandemic on the Global High-performance Tires Market 5. Supply Side and Demand Side Indicators 6. Global High-performance Tires Market Analysis and Forecast, 2022-2029 6.1. Global High-performance Tires Market Size & Y-o-Y Growth Analysis. 7. Global High-performance Tires Market Analysis and Forecasts, 2022-2029 7.1. Market Size (Value) Estimates & Forecast By Type, 2022-2029 7.1.1. Racing Slick 7.1.2. Tread Tires 7.1.3. Other Tire Types 7.2. Market Size (Value) Estimates & Forecast By Sales Channel,2022-2029 7.2.1. OEM 7.2.2. Aftermarket 7.3. Market Size (Value) Estimates & Forecast By Application, 2022-2029 7.3.1. Racing Cars 7.3.2. Off-the Road Vehicles 7.3.3. Other Vehicle Types 8. Global High-performance Tires Market Analysis and Forecasts, By Region 8.1. Market Size (Value) Estimates & Forecast By Region, 2022-2029 8.1.1. North America 8.1.2. Europe 8.1.3. Asia-Pacific 8.1.4. Middle East & Africa 8.1.5. South America 9. North America High-performance Tires Market Analysis and Forecasts, 2022-2029 9.1. Market Size (Value) Estimates & Forecast By Type, 2022-2029 9.1.1. Racing Slick 9.1.2. Tread Tires 9.1.3. Other Tire Types 9.2. Market Size (Value) Estimates & Forecast By Sales Channel,2022-2029 9.2.1. OEM 9.2.2. Aftermarket 9.3. Market Size (Value) Estimates & Forecast By Application,2022-2029 9.3.1. Racing Cars 9.3.2. Off-the Road Vehicles 9.3.3. Other Vehicle Types 10. North America High-performance Tires Market Analysis and Forecasts, By Country 10.1. Market Size (Value) Estimates & Forecast By Country, 2022-2029 10.1.1. US 10.1.2. Canada 10.1.3. Mexico 11. U.S. High-performance Tires Market Analysis and Forecasts, 2022-2029 11.1. Market Size (Value) Estimates & Forecast By Type,2022-2029 11.2. Market Size (Value) Estimates & Forecast By Sales Channel,2022-2029 11.3. Market Size (Value) Estimates & Forecast By Application,2022-2029 12. Canada High-performance Tires Market Analysis and Forecasts, 2022-2029 12.1. Market Size (Value) Estimates & Forecast By Type,2022-2029 12.2. Market Size (Value) Estimates & Forecast By Sales Channel,2022-2029 12.3. Market Size (Value) Estimates & Forecast By Application, 2022-2029 13. Mexico High-performance Tires Market Analysis and Forecasts, 2022-2029 13.1. Market Size (Value) Estimates & Forecast By Type,2022-2029 13.2. Market Size (Value) Estimates & Forecast By Sales Channel,2022-2029 13.3. Market Size (Value) Estimates & Forecast By Application, 2022-2029 14. Europe High-performance Tires Market Analysis and Forecasts, 2022-2029 14.1. Market Size (Value) Estimates & Forecast By Type,2022-2029 14.2. Market Size (Value) Estimates & Forecast By Sales Channel,2022-2029 14.3. Market Size (Value) Estimates & Forecast By Application, 2022-2029 15. Europe High-performance Tires Market Analysis and Forecasts, By Country 15.1. Market Size (Value) Estimates & Forecast By Country, 2022-2029 15.1.1. U.K 15.1.2. France 15.1.3. Germany 15.1.4. Italy 15.1.5. Spain 15.1.6. Sweden 15.1.7. CIS Countries 15.1.8. Rest of Europe 16. U.K. High-performance Tires Market Analysis and Forecasts, 2022-2029 16.1. Market Size (Value) Estimates & Forecast By Type,2022-2029 16.2. Market Size (Value) Estimates & Forecast By Sales Channel,2022-2029 16.3. Market Size (Value) Estimates & Forecast By Application, 2022-2029 17. France High-performance Tires Market Analysis and Forecasts, 2022-2029 17.1. Market Size (Value) Estimates & Forecast By Type,2022-2029 17.2. Market Size (Value) Estimates & Forecast By Sales Channel,2022-2029 17.3. Market Size (Value) Estimates & Forecast By Application, 2022-2029 18. Germany High-performance Tires Market Analysis and Forecasts, 2022-2029 18.1. Market Size (Value) Estimates & Forecast By Type,2022-2029 18.2. Market Size (Value) Estimates & Forecast By Sales Channel,2022-2029 18.3. Market Size (Value) Estimates & Forecast By Application, 2022-2029 19. Italy High-performance Tires Market Analysis and Forecasts, 2022-2029 19.1. Market Size (Value) Estimates & Forecast By Type,2022-2029 19.2. Market Size (Value) Estimates & Forecast By Sales Channel,2022-2029 19.3. Market Size (Value) Estimates & Forecast By Application, 2022-2029 20. Spain High-performance Tires Market Analysis and Forecasts, 2022-2029 20.1. Market Size (Value) Estimates & Forecast By Type,2022-2029 20.2. Market Size (Value) Estimates & Forecast By Sales Channel,2022-2029 20.3. Market Size (Value) Estimates & Forecast By Application, 2022-2029 21. Sweden High-performance Tires Market Analysis and Forecasts, 2022-2029 21.1. Market Size (Value) Estimates & Forecast By Type,2022-2029 21.2. Market Size (Value) Estimates & Forecast By Sales Channel,2022-2029 21.3. Market Size (Value) Estimates & Forecast By Application, 2022-2029 22. CIS Countries High-performance Tires Market Analysis and Forecasts, 2022-2029 22.1. Market Size (Value) Estimates & Forecast By Type,2022-2029 22.2. Market Size (Value) Estimates & Forecast By Sales Channel,2022-2029 22.3. Market Size (Value) Estimates & Forecast By Application, 2022-2029 23. Rest of Europe High-performance Tires Market Analysis and Forecasts, 2022-2029 23.1. Market Size (Value) Estimates & Forecast By Type,2022-2029 23.2. Market Size (Value) Estimates & Forecast By Sales Channel,2022-2029 23.3. Market Size (Value) Estimates & Forecast By Application, 2022-2029 24. Asia Pacific High-performance Tires Market Analysis and Forecasts, 2022-2029 24.1. Market Size (Value) Estimates & Forecast By Type,2022-2029 24.2. Market Size (Value) Estimates & Forecast By Sales Channel,2022-2029 24.3. Market Size (Value) Estimates & Forecast By Application, 2022-2029 25. Asia Pacific High-performance Tires Market Analysis and Forecasts, by Country 25.1. Market Size (Value) Estimates & Forecast By Country, 2022-2029 25.1.1. China 25.1.2. India 25.1.3. Japan 25.1.4. South Korea 25.1.5. Australia 25.1.6. ASEAN 25.1.7. Rest of Asia Pacific 26. China High-performance Tires Market Analysis and Forecasts, 2022-2029 26.1. Market Size (Value) Estimates & Forecast By Type,2022-2029 26.2. Market Size (Value) Estimates & Forecast By Sales Channel,2022-2029 26.3. Market Size (Value) Estimates & Forecast By Application, 2022-2029 27. India High-performance Tires Market Analysis and Forecasts, 2022-2029 27.1. Market Size (Value) Estimates & Forecast By Type,2022-2029 27.2. Market Size (Value) Estimates & Forecast By Sales Channel,2022-2029 27.3. Market Size (Value) Estimates & Forecast By Application, 2022-2029 28. Japan High-performance Tires Market Analysis and Forecasts, 2022-2029 28.1. Market Size (Value) Estimates & Forecast By Type,2022-2029 28.2. Market Size (Value) Estimates & Forecast By Sales Channel,2022-2029 28.3. Market Size (Value) Estimates & Forecast By Application, 2022-2029 29. South Korea High-performance Tires Market Analysis and Forecasts, 2022-2029 29.1. Market Size (Value) Estimates & Forecast By Type,2022-2029 29.2. Market Size (Value) Estimates & Forecast By Sales Channel,2022-2029 29.3. Market Size (Value) Estimates & Forecast By Application, 2022-2029 30. Australia High-performance Tires Market Analysis and Forecasts, 2022-2029 30.1. Market Size (Value) Estimates & Forecast By Type,2022-2029 30.2. Market Size (Value) Estimates & Forecast By Sales Channel,2022-2029 30.3. Market Size (Value) Estimates & Forecast By Application, 2022-2029 31. ASEAN High-performance Tires Market Analysis and Forecasts, 2022-2029 31.1. Market Size (Value) Estimates & Forecast By Type,2022-2029 31.2. Market Size (Value) Estimates & Forecast By Sales Channel,2022-2029 31.3. Market Size (Value) Estimates & Forecast By Application, 2022-2029 32. Rest of Asia Pacific High-performance Tires Market Analysis and Forecasts, 2022-2029 32.1. Market Size (Value) Estimates & Forecast By Type,2022-2029 32.2. Market Size (Value) Estimates & Forecast By Sales Channel,2022-2029 32.3. Market Size (Value) Estimates & Forecast By Application, 2022-2029 33. Middle East Africa High-performance Tires Market Analysis and Forecasts, 2022-2029 33.1. Market Size (Value) Estimates & Forecast By Type,2022-2029 33.2. Market Size (Value) Estimates & Forecast By Sales Channel,2022-2029 33.3. Market Size (Value) Estimates & Forecast By Application, 2022-2029 34. Middle East Africa High-performance Tires Market Analysis and Forecasts, by Country 34.1. Market Size (Value) Estimates & Forecast by Country, 2022-2029 34.1.1. South Africa 34.1.2. GCC Countries 34.1.3. Egypt 34.1.4. Nigeria 34.1.5. Rest of ME&A 35. South Africa High-performance Tires Market Analysis and Forecasts, 2022-2029 35.1. Market Size (Value) Estimates & Forecast By Type,2022-2029 35.2. Market Size (Value) Estimates & Forecast By Sales Channel,2022-2029 35.3. Market Size (Value) Estimates & Forecast By Application, 2022-2029 36. GCC Countries High-performance Tires Market Analysis and Forecasts, 2022-2029 36.1. Market Size (Value) Estimates & Forecast By Type,2022-2029 36.2. Market Size (Value) Estimates & Forecast By Sales Channel,2022-2029 36.3. Market Size (Value) Estimates & Forecast By Application, 2022-2029 37. Egypt High-performance Tires Market Analysis and Forecasts, 2022-2029 37.1. Market Size (Value) Estimates & Forecast By Type,2022-2029 37.2. Market Size (Value) Estimates & Forecast By Sales Channel,2022-2029 37.3. Market Size (Value) Estimates & Forecast By Application, 2022-2029 38. Nigeria High-performance Tires Market Analysis and Forecasts, 2022-2029 38.1. Market Size (Value) Estimates & Forecast By Type,2022-2029 38.2. Market Size (Value) Estimates & Forecast By Sales Channel,2022-2029 38.3. Market Size (Value) Estimates & Forecast By Application, 2022-2029 39. Rest of ME&A High-performance Tires Market Analysis and Forecasts, 2022-2029 39.1. Market Size (Value) Estimates & Forecast By Type,2022-2029 39.2. Market Size (Value) Estimates & Forecast By Sales Channel,2022-2029 39.3. Market Size (Value) Estimates & Forecast By Application, 2022-2029 40. South America High-performance Tires Market Analysis and Forecasts, 2022-2029 40.1. Market Size (Value) Estimates & Forecast By Type,2022-2029 40.2. Market Size (Value) Estimates & Forecast By Sales Channel,2022-2029 40.3. Market Size (Value) Estimates & Forecast By Application, 2022-2029 41. South America High-performance Tires Market Analysis and Forecasts, by Country 41.1. Market Size (Value) Estimates & Forecast by Country, 2022-2029 41.1.1. Brazil 41.1.2. Argentina 41.1.3. Rest of South America 42. Brazil High-performance Tires Market Analysis and Forecasts, 2022-2029 42.1. Market Size (Value) Estimates & Forecast By Type,2022-2029 42.2. Market Size (Value) Estimates & Forecast By Sales Channel,2022-2029 42.3. Market Size (Value) Estimates & Forecast By Application, 2022-2029 43. Argentina High-performance Tires Market Analysis and Forecasts, 2022-2029 43.1. Market Size (Value) Estimates & Forecast By Type,2022-2029 43.2. Market Size (Value) Estimates & Forecast By Sales Channel,2022-2029 43.3. Market Size (Value) Estimates & Forecast By Application, 2022-2029 44. Rest of South America High-performance Tires Market Analysis and Forecasts, 2022-2029 44.1. Market Size (Value) Estimates & Forecast By Type,2022-2029 44.2. Market Size (Value) Estimates & Forecast By Sales Channel,2022-2029 44.3. Market Size (Value) Estimates & Forecast By Application, 2022-2029 45. Competitive Landscape 45.1. Geographic Footprint of Major Players in the Global High-performance Tires Market 45.2. Competition Matrix 45.2.1. Competitive Benchmarking of Key Players By Price, Presence, Market Share, Applications and R&D Investment 45.2.2. New Product Launches and Product Enhancements 45.2.3. Market Consolidation 45.2.3.1. M&A by Regions, Investment and Verticals 45.2.3.2. M&A, Forward Integration and Backward Integration 45.2.3.3. Partnership, Joint Ventures and Strategic Alliances/ Sales Agreements 45.3. Company Profile: Key Players 45.3.1. Michelin 45.3.1.1. Company Overview 45.3.1.2. Financial Overview 45.3.1.3. Geographic Footprint 45.3.1.4. Product Portfolio 45.3.1.5. Business Strategy 45.3.1.6. Recent Developments 45.4. Continental AG 45.5. Bridgestone Corporation 45.6. Pirelli & C. SpA 45.7. MRF Limited 45.8. Michelin 45.9. Goodyear Tire & Rubber Company 45.10. Pirelli & C.S.p.A. 45.11. Sumitomo Rubber Industries, Ltd. 45.12. Yokohoma Rubber Co. Ltd. 45.13. Cooper Tire & Rubber Company 45.14. Cooper Tires 45.15. Goodyear 45.16. Hankook 45.17. Kumho Tires 46. Primary Key Insights

About This Report

Report ID 120926
Category Automotive and Transportation
Published Date July 2023
Updated Date
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