Performance Tires are vehicle tires made with superior technologies using silica compounds and additives. Performance tires feature unique construction features, treading patterns and rubber compounds to provide an enhanced precision, responsiveness and traction.
These tires have significantly shorter stopping distances, lateral grip, superior traction and offer a better overall safety. Performance tires are even designed to achieve higher fuel efficiencies and offer better shock absorbing and anti-puncture properties to improve the overall durability of the vehicle.
Most performance tire companies have benefitted immensely with this recent switch to non-racing avenues and have notably popular brand perceptions.
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Performance tires Market: Dynamics
A proliferating demand for high clearance and heavy duty vehicles, such as SUV’s as well as an increasingly diverse sphere of applications for non-commercial vehicles such as tractors and more, are fueling the demand for performance tires.
In a Formula One race weekend, an average of 13 sets of tires are used per team across all the qualification laps and final race. Motorbike racing, Nascar, rally racing, Motocross racing and many more sectors within this field have vehicles that exclusively use performance tires to achieve maximum speed, safety and overall efficiency.
Performance tires Market: Regional Outlook
European countries such as Germany, France, Italy and the United Kingdom are estimated to acquire a healthy share of the global performance tires market with automotive racing sector being an established market in the region.
Germany being the technological hub and automotive leader of the world is also the leading high-performance tire manufacturing location. North America is expected to witness moderate growth in wake of market saturation whereas the Latin America market is expected to showcase limited growth opportunities.
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Performance tires Market: Key Participants
Some of the key market participants in the global performance tires market, identified across the value chain include:
MichelinBridgestone Corporation
Yokohama Rubber Co. Ltd
Hankook Tire & Technology Co. Ltd
Continental AG
Pirelli & C.S.p.A.
Goodyear Tire & Rubber Company
Sumitomo Rubber Industries, Ltd.
Cooper Tire & Rubber Company
The report covers exhaustive analysis on:
Performance tires Market Segments
Performance tires Market Dynamics
Performance tires Market Size
New Sales of Performance tires
Current Trends/Issues/Challenges in the performance tires Market
Competition & Companies Involved in performance tires
New Technology for performance tires
Value Chain of the performance tires Market
Regional analysis includes:
North America (U.S., Canada)
Latin America (Mexico, Brazil)
Western Europe (Germany, Italy, France, U.K, Spain)
Eastern Europe (Poland, Russia)
Asia Pacific (China, India, ASEAN, Australia & New Zealand)
Japan
Middle East and Africa (GCC Countries, S. Africa, Northern Africa)
Report Highlights:
Detailed overview of parent marketChanging market dynamics in the Performance tires market
In-depth Performance tires market segmentation
Historical, current, and projected Performance tires market size in terms of volume and value
Recent industry trends and developments in the global Performance tires market
Competitive landscape
Strategies of key players and products offered in the global Performance tires market
Potential and niche segments, geographical regions exhibiting promising growth
A neutral perspective on Performance tires market performance
Must-have information for market players in Performance tires market to sustain and enhance their market footprint
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Performance tires Market: Segmentation
The global Performance tires market can be segmented on the basis of tire type, sales channel type and vehicle type.
Tire type:H Rated Tires (for speeds up to 130mph)
V Rated Tires (for speeds up to 149mph)
Z Rated Tires (for speeds higher than 149mph)
Vehicle type:
Passenger vehicle
Light commercial vehicle
Heavy commercial vehicle
Sports Racing vehicle
Sales channel type:
Original equipment manufacturer
Aftermarket/Replacement
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