Racing Tires Market

Increase in demand for sustainable racing tire manufacturing process, rise in demand for high-performance tires.

PORTLAND, OR, US, January 31, 2024 /EINPresswire.com/ -- Racing Tires Market by Application (Auto Racing Tires, Motorcycle Racing Tires), Distribution Channel (Replacement Tires, OEMs), and Tire Type (Racing Slick Tires, Racing Treaded Tires): Global Opportunity Analysis and Industry Forecast, 2023-2032". According to the report, the global racing tires market was valued at $10.91 billion in 2022, and is projected to reach $18.70 billion by 2032, registering a CAGR of 5.6% from 2023 to 2032.

𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐒𝐚𝐦𝐩𝐥𝐞 𝐏𝐚𝐠𝐞𝐬 𝐍𝐨𝐰: https://www.alliedmarketresearch.com/request-sample/3168

The report provides a detailed analysis of these key players of the global racing tires market. These players have adopted different strategies such as partnership, product launch, expansion and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.

Racing tires are specialized tires primarily used in auto racing and motorcycle racing. While all car tires are constructed with tire performance in mind, racing car tires differ in terms of durability, materials used, internal air pressure, and other features that set them apart from regular tires. Racing tires are meticulously designed to provide exceptional performance and undergo rigorous testing for quality, durability, speed, and other performance factors. While they are primarily made from natural and synthetic rubber, they also incorporate various textile reinforcements such as rayon, aramid, nylon, and polyester to optimize tire performance.

𝐏𝐫𝐨𝐦𝐢𝐧𝐞𝐧𝐭 𝐌𝐚𝐫𝐤𝐞𝐭 𝐏𝐥𝐚𝐲𝐞𝐫𝐬

𝐙𝐡𝐨𝐧𝐠𝐜𝐞 𝐑𝐮𝐛𝐛𝐞𝐫 𝐆𝐫𝐨𝐮𝐩 𝐂𝐨., 𝐋𝐭𝐝., 𝐁𝐫𝐢𝐝𝐠𝐞𝐬𝐭𝐨𝐧𝐞 𝐂𝐨𝐫𝐩𝐨𝐫𝐚𝐭𝐢𝐨𝐧, 𝐏𝐢𝐫𝐞𝐥𝐥𝐢 & 𝐂. 𝐒.𝐩.𝐀., 𝐌𝐢𝐜𝐡𝐞𝐥𝐢𝐧, 𝐂𝐨𝐧𝐭𝐢𝐧𝐞𝐧𝐭𝐚𝐥 𝐀𝐆, 𝐓𝐡𝐞 𝐆𝐨𝐨𝐝𝐲𝐞𝐚𝐫 𝐓𝐢𝐫𝐞 & 𝐑𝐮𝐛𝐛𝐞𝐫 𝐂𝐨𝐦𝐩𝐚𝐧𝐲, 𝐌𝐚𝐱𝐱𝐢𝐬 𝐈𝐧𝐭𝐞𝐫𝐧𝐚𝐭𝐢𝐨𝐧𝐚𝐥 𝐔𝐒𝐀, 𝐇𝐚𝐧𝐤𝐨𝐨𝐤 𝐚𝐧𝐝 𝐂𝐨𝐦𝐩𝐚𝐧𝐲 𝐂𝐨., 𝐋𝐭𝐝., 𝐍𝐞𝐱𝐞𝐧 𝐓𝐢𝐫𝐞, 𝐓𝐇𝐄 𝐘𝐎𝐊𝐎𝐇𝐀𝐌𝐀 𝐑𝐔𝐁𝐁𝐄𝐑 𝐂𝐎., 𝐋𝐓𝐃.

𝐏𝐫𝐨𝐜𝐮𝐫𝐞 𝐂𝐨𝐦𝐩𝐥𝐞𝐭𝐞 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐑𝐞𝐩𝐨𝐫𝐭 𝐍𝐨𝐰: https://www.alliedmarketresearch.com/racing-tires-market/purchase-options

Prime determinants of growth

Factors such as rise in popularity of motorsports events, increase in demand for sustainable racing tire manufacturing process, rise in demand for high-performance tires drive the growth of the racing tire market. However, regulatory challenges related to safety and performance standards, and high cost of racing tires hinder the growth of the market. Furthermore, increased collaboration with drivers and teams for testing & promotion, and introduction of natural rubber- based racing tires offer remarkable growth opportunities for the players operating in the racing tire market.

The racing tire market is segmented on the basis of application, distribution channel, tire type, and region. By application, it is bifurcated into auto racing tires and motorcycle racing tires. By distribution channel, it is fragmented into replacement tires and OEMs. By tire type, it is divided into racing slick tires and racing treaded tires. By region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

𝐈𝐧𝐭𝐞𝐫𝐞𝐬𝐭𝐞𝐝 𝐭𝐨 𝐏𝐫𝐨𝐜𝐮𝐫𝐞 𝐭𝐡𝐞 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐑𝐞𝐩𝐨𝐫𝐭? 𝐈𝐧𝐪𝐮𝐢𝐫𝐞 𝐁𝐞𝐟𝐨𝐫𝐞 𝐁𝐮𝐲𝐢𝐧𝐠: https://www.alliedmarketresearch.com/purchase-enquiry/3168

The replacement tires segment to maintain its leadership status throughout the forecast period

Based on distribution channel, the replacement tires segment held the highest market share in 2022, accounting for nearly four-fifths of the global racing tires market revenue, and is estimated to maintain its leadership status throughout the forecast period. Also, the same segment is projected to manifest the highest CAGR of 6.0% from 2023 to 2032, as high-speed races result in tire wear and frequent replacements. Racing teams and individuals rely on replacement tires to maintain optimal performance and safety during races.

Based on region, Europe held the highest market share in terms of revenue in 2022, accounting for nearly two-fifths of the global racing tires market revenue, and is estimated to maintain its leadership status throughout the forecast period as Europe hosts a diverse range of motorsport events, from Formula 1 to endurance racing at Le Mans. Each country's motorsport culture influences tire preferences. Europe is home to many luxury sports car manufacturers, and racing teams creating demand for high-performance racing tires that match the performance characteristics of these vehicles. However, Asia-Pacific segment is projected to manifest the highest CAGR of 6.7% from 2023 to 2032

𝐂𝐡𝐞𝐜𝐤 𝐨𝐮𝐭 𝐦𝐨𝐫𝐞 𝐫𝐞𝐥𝐚𝐭𝐞𝐝 𝐬𝐭𝐮𝐝𝐢𝐞𝐬 𝐩𝐮𝐛𝐥𝐢𝐬𝐡𝐞𝐝 𝐛𝐲 𝐀𝐌𝐑 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡:

Airless Tire Market - https://www.globenewswire.com/news-release/2021/12/09/2348764/0/en/Airless-Tire-Market-to-Garner-77-5-Million-by-2030-Allied-Market-Research.html

Pneumatic Tire Market - https://www.alliedmarketresearch.com/pneumatic-tyre-market

Brazil Automotive Tire Market - https://www.globenewswire.com/en/news-release/2020/10/26/2114438/0/en/Brazil-Automotive-Tire-Market-worth-2-05-Billion-by-2027-Allied-Market-Research.html

David Correa
Allied Market Research
+1 800-792-5285
email us here
Visit us on social media:
Facebook
Twitter
LinkedIn