Market Overview:
The global automotive competition tire market is expected to grow at a CAGR of 5.5% during the forecast period from 2018 to 2030. The market growth can be attributed to the increasing demand for performance-oriented tires in the grand tourer, touring, and other segments. Additionally, the increasing popularity of rally racing and other motorsports is also propelling the demand for automotive competition tires. The North America region dominates the global automotive competition tire market followed by Europe and Asia Pacific. The Latin America region is projected to grow at a high CAGR during the forecast period owing to rising disposable income levels and growing awareness about advanced technologies in this region.
Product Definition:
An automotive competition tire is a type of tire that is specifically designed for use in auto racing. These tires are typically much wider than regular passenger car tires, and they have a much softer rubber compound that provides better traction on the track. Competition tires also have a tread pattern that is optimized for grip and handling.
18-inch:
18 inch is a wheel size that has been gaining popularity in the automotive industry. The primary factor responsible for its growth is the increase in automobile production across the globe. However, there are other factors such as rise in demand for vehicles with high performance and fuel efficiency, which have also contributed to 18-inch wheel size’s market share.
The global competition tire industry has witnessed significant changes over recent years owing to technological innovations aimed at improving vehicle performance by reducing fuel consumption.
15-inch:
15-inch tires are the largest size of competition tires used in motorsports. They have a diameter of about 1.95 inches and a width of 6 inches, which provides better stability during high speed driving and braking. The 15-inch tire is also known as supercar or sports car tire owing to its usage in racing cars that have higher performance than normal passenger vehicles such as trucks & SUVs.
Application Insights:
The grand tourer segment accounted for the largest share of over 30.0% in 2017 and is anticipated to maintain its dominance over the forecast period. The growing importance of comfort, smoothness, and luxury on long-distance travel is expected to drive demand for competition tires in this application type.
The formula tire segment held a significant market share in 2017 owing to high popularity among young people as racing games are considered realistic compared with other games due to advanced physics modeling and car design principles taken from real-life counterparts. In addition, manufacturers have been introducing new products based on FORMULA ONE technology which has increased consumer interest towards automotive gaming consoles such as PlayStation 4 and Xbox One since they offer an authentic experience like driving a real Formula One car through simulators installed in video game consoles.
Regional Analysis:
Asia Pacific dominated the global market in 2017 and is expected to continue its dominance over the forecast period. The region accounted for a share of more than 60% of total volume in 2017 owing to high demand from countries such as China, India, Japan, and South Korea. These countries have a large number of manufacturers that cater to local needs along with being leaders across the globe.
The North American regional market captured significant revenue share in 2017 on account of increasing R&D activities by major tire manufacturers coupled with new product launches across prominent players such as Bridgestone Americas Inc., Michelin Group, Goodyear Tire & Rubber Company and Apollo Tyres Ltd. This factor is projected to continue driving growth over the next eight years.
Europe held second largest revenue share followed by Asia Pacific on account of growing automotive industry especially in Russia which has been witnessing strong economic growth since 2014-2015 season following an economic crisis caused by falling oil prices worldwide thus resulting into increased sales volumes for passenger cars.
Growth Factors:
- Increasing demand for luxury and performance cars
- Rising disposable income of consumers in developing countries
- Technological advancements in the automotive industry
- Stringent government regulations for vehicle safety and emissions control
- Growing popularity of eco-friendly/alternative fuel vehicles
Scope Of The Report
Report Attributes
Report Details
Report Title
Automotive Competition Tire Market Research Report
By Type
18-inch, 15-inch, 13-inch, Other
By Application
Grand Tourer, Touring, Formula, Rally, Other
By Companies
Pirelli, Goodyear, Hankook Tire, Michelin, Bridgestone, Yokohama
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
196
Number of Tables & Figures
138
Customization Available
Yes, the report can be customized as per your need.
Global Automotive Competition Tire Market Report Segments:
The global Automotive Competition Tire market is segmented on the basis of:
Types
18-inch, 15-inch, 13-inch, Other
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Grand Tourer, Touring, Formula, Rally, Other
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- Pirelli
- Goodyear
- Hankook Tire
- Michelin
- Bridgestone
- Yokohama
Highlights of The Automotive Competition Tire Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- 18-inch
- 15-inch
- 13-inch
- Other
- By Application:
- Grand Tourer
- Touring
- Formula
- Rally
- Other
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Automotive Competition Tire Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
- Correctly Positioning New Products
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8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Automotive competition tires are designed to provide drivers with the best possible performance in a variety of driving conditions. They are available in a variety of sizes and compounds to meet the needs of different types of vehicles.
Some of the key players operating in the automotive competition tire market are Pirelli, Goodyear, Hankook Tire, Michelin, Bridgestone, Yokohama.
The automotive competition tire market is expected to grow at a compound annual growth rate of 5.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Automotive Competition Tire Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Automotive Competition Tire Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Automotive Competition Tire Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Automotive Competition Tire Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Automotive Competition Tire Market Size & Forecast, 2018-2028
4.5.1 Automotive Competition Tire Market Size and Y-o-Y Growth
4.5.2 Automotive Competition Tire Market Absolute $ Opportunity
Chapter 5 Global Automotive Competition Tire Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Automotive Competition Tire Market Size Forecast by Type
5.2.1 18-inch
5.2.2 15-inch
5.2.3 13-inch
5.2.4 Other
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Automotive Competition Tire Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Automotive Competition Tire Market Size Forecast by Applications
6.2.1 Grand Tourer
6.2.2 Touring
6.2.3 Formula
6.2.4 Rally
6.2.5 Other
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Automotive Competition Tire Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Automotive Competition Tire Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Automotive Competition Tire Analysis and Forecast
9.1 Introduction
9.2 North America Automotive Competition Tire Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Automotive Competition Tire Market Size Forecast by Type
9.6.1 18-inch
9.6.2 15-inch
9.6.3 13-inch
9.6.4 Other
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Automotive Competition Tire Market Size Forecast by Applications
9.10.1 Grand Tourer
9.10.2 Touring
9.10.3 Formula
9.10.4 Rally
9.10.5 Other
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Automotive Competition Tire Analysis and Forecast
10.1 Introduction
10.2 Europe Automotive Competition Tire Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Automotive Competition Tire Market Size Forecast by Type
10.6.1 18-inch
10.6.2 15-inch
10.6.3 13-inch
10.6.4 Other
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Automotive Competition Tire Market Size Forecast by Applications
10.10.1 Grand Tourer
10.10.2 Touring
10.10.3 Formula
10.10.4 Rally
10.10.5 Other
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Automotive Competition Tire Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Automotive Competition Tire Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Automotive Competition Tire Market Size Forecast by Type
11.6.1 18-inch
11.6.2 15-inch
11.6.3 13-inch
11.6.4 Other
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Automotive Competition Tire Market Size Forecast by Applications
11.10.1 Grand Tourer
11.10.2 Touring
11.10.3 Formula
11.10.4 Rally
11.10.5 Other
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Automotive Competition Tire Analysis and Forecast
12.1 Introduction
12.2 Latin America Automotive Competition Tire Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Automotive Competition Tire Market Size Forecast by Type
12.6.1 18-inch
12.6.2 15-inch
12.6.3 13-inch
12.6.4 Other
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Automotive Competition Tire Market Size Forecast by Applications
12.10.1 Grand Tourer
12.10.2 Touring
12.10.3 Formula
12.10.4 Rally
12.10.5 Other
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Automotive Competition Tire Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Automotive Competition Tire Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Automotive Competition Tire Market Size Forecast by Type
13.6.1 18-inch
13.6.2 15-inch
13.6.3 13-inch
13.6.4 Other
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Automotive Competition Tire Market Size Forecast by Applications
13.10.1 Grand Tourer
13.10.2 Touring
13.10.3 Formula
13.10.4 Rally
13.10.5 Other
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Automotive Competition Tire Market: Competitive Dashboard
14.2 Global Automotive Competition Tire Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Pirelli
14.3.2 Goodyear
14.3.3 Hankook Tire
14.3.4 Michelin
14.3.5 Bridgestone
14.3.6 Yokohama
