Racing Tires Market - Forecast(2024 - 2030)

Report Code: AM 38482 Report Format: PDF + Excel
Racing Tire market size is forecast to reach $12.6 billion by 2025, growing at CAGR 4.28% during 2020-2025 owing to the increasing revenue generation from formula one racing championship. The growing number of viewership across the world opting for viewing through online channels on smartphones is set to open up new streams of revenue generation in the racing business. Apart from this the growing sponsorship in formula series is also set to buoy the racing events. These factors are analyzed to drive the racing tires market during the forecast period 2020-2025.
 
Key Takeaways- Racing Tire Industry Outlook
  • Auto racing tires market held the major share in 2019 and set to witness significant growth during 2020-2025 with the growing sponsorship in formula series events especially formula E championship
  • Europe attributed to the major share of the global racing tires market owing to the region’s propriety in hosting racing events and large investments by the major automakers in this region for developing vehicles and parts specifically tailored for racing events
Racing Category - Segment Analysis

The auto racing segment is analyzed to dominate the global racing tires market in 2018 owing to the broad spectrum races in this category and the introduction of Formula E championship since 2014. Formula E racing also known as ABB FIA Formula E Championship following the price sponsorship by ABB is an electric car racing event. The championship witnessed significant contribution in terms of technology by the major auto makers such as Audi, BMW, Renault and so on. Despite the losses incurred in the first season till 2018, however, the racing series is set to witness significant growth during 2020-2025 owing to the growing sponsorship in electric vehicle racing event, thereby assisting the racing tires market growth

Geography - Segment Analysis

Europe acquired the major market share of around 45% of the global racing tire market in 2019 owing to the prominent presence of various types of motor sports events in the region and Europe being the pioneer in hosting racing events. Further, the presence of major automakers in the region for premium and racing class vehicles with prominent investment towards in developing these vehicles is also analyzed to be one of the major market drivers assisting the market growth. APAC is estimated to hold the second largest market share in the global racing tire market after Europe, and is estimated to witness the highest growth during the forecast period 2020-2025 owing to the growing viewer base and investments in the automotive racing business in the region

Drivers – Racing Tire Market
  • Growing revenue generation in Formula One Racing Championship
Driven by the increase in number of races, advertising and sponsorships, the revenue generation in the racing business is increasing significantly. In the past couple of years these businesses are have grown out into a global franchise with more than 500 million viewers across the globe with the number of annual races to increase to around 22 in the coming years. Private equity firm CVC Capital was planning $12 billion market capitalization for Formula1, through an IPO on Singapore stock exchange in 2017 before it got acquired by Liberty Media. The growing viewership of Formula1 in Asia couple with the rising investment from leading automakers into the series is set assist the racing tires market growth during 2020-2025

Challenges – Racing Tire Market
  • High Ticket Cost and low attendance is racing events such as NASCAR
Low attendance in NASCAR series is majorly due to the feeble economic conditions. The average cost of the ticket is approximately $100, in addition to that the visitors also need to spend on travel and accommodation which are sky rocketing during the event times, thereby not easily affordable by middle class population. Due to the low attendees, the European circuits were not able to turn significant profit owing to which the ticket prices were raised to compensate. These factors are set to impact the racing events thereby impeding the racing tire market bleakly during 2020-2025

Market Landscape

Racing Tire top 10 companies operating in the market includes Apollo Tire, Continental Ag, Bridgestone Corporation, Pirelli C. Spa, Goodyear Tire And Rubber Co, Hankook Tire, Michelin, Kumho Tires, Yokohama Rubber Co. Ltd, Cooper Tire & Rubber Company and so on. The market is analyzed to be consolidated with these the top players acquiring majority of the shares in 2018. 

Partnership & Contracts
  • In December 2019, Goodyear secured a multi-year contract with FIA World Endurance Championship's LMP2 prototype class as the spec racing tire supplier for the 2020/2021 season. The Federation International de l'Automobile (FIA) recently announced to make WEC LMP2 category a single make tire series racing event. 
  • In October 2019, Pirelli announced its confirmation as the official tire supplier for all classes of the Motul FIM Superbike World Championship until 2023. The earlier supplier agreement was till 2020 which was extended till three further seasons
  • In February 2018, Cabot Corp launched the  PROPEL® X carbon black series racing and ultra-high performance tires which are designed with a focus on precise handling and traction 
1. Racing Tires Market - Overview
        1.1 Definitions and Scope
2. Racing Tires Market - Executive summary
        2.1 Market Revenue, Market Size and Key Trends by Company
        2.2 Key Trends by type of Application
        2.3 Key Trends segmented by Geography
3. Racing Tires Market
        3.1 Comparative analysis
            3.1.1 Product Benchmarking - Top 10 companies
            3.1.2 Top 5 Financials Analysis
            3.1.3 Market Value split by Top 10 companies
            3.1.4 Patent Analysis - Top 10 companies
            3.1.5 Pricing Analysis
4. Racing Tires Market - Startup companies Scenario Premium
        4.1 Top 10 startup company Analysis by
            4.1.1 Investment
            4.1.2 Revenue
            4.1.3 Market Shares
            4.1.4 Market Size and Application Analysis
            4.1.5 Venture Capital and Funding Scenario
5. Racing Tires Market - Industry Market Entry Scenario Premium
        5.1 Regulatory Framework Overview
        5.2 New Business and Ease of Doing business index
        5.3 Case studies of successful ventures
        5.4 Customer Analysis - Top 10 companies
6. Racing Tires Market Forces
        6.1 Drivers
        6.2 Constraints
        6.3 Challenges
        6.4 Porters five force model
            6.4.1 Bargaining power of suppliers
            6.4.2 Bargaining powers of customers
            6.4.3 Threat of new entrants
            6.4.4 Rivalry among existing players
            6.4.5 Threat of substitutes
7. Racing Tires Market -Strategic analysis
        7.1 Value chain analysis
        7.2 Opportunities analysis
        7.3 Product life cycle
        7.4 Suppliers and distributors Market Share
8. Racing Tires Market - By Product Type (Market Size -$Million / $Billion)
        8.1 Market Size and Market Share Analysis
        8.2 Application Revenue and Trend Research
        8.3 Product Segment Analysis
            8.3.1 Auto Racing Tire
            8.3.2 Motorcycle Racing
9. Racing Tires Market - By Tire Type (Market Size -$Million / $Billion)
9.1 Racing Slick Tire
9.2 Racing Treaded Tire
10. Racing Tires - By End Usage (Market Size -$Million / $Billion)
        10.1 Replacement Tire
        10.2 Oems
11. Racing Tires- By Geography (Market Size -$Million / $Billion)
        11.1 Racing Tires Market - North America Segment Research
        11.2 North America Market Research (Million / $Billion)
            11.2.1 Segment type Size and Market Size Analysis
            11.2.2 Revenue and Trends
            11.2.3 Application Revenue and Trends by type of Application
            11.2.4 Company Revenue and Product Analysis
            11.2.5 North America Product type and Application Market Size
                  11.2.5.1 U.S
                  11.2.5.2 Canada
                  11.2.5.3 Mexico
                  11.2.5.4 Rest of North America
        11.3 Racing Tires- South America Segment Research
        11.4 South America Market Research (Market Size -$Million / $Billion)
            11.4.1 Segment type Size and Market Size Analysis
            11.4.2 Revenue and Trends
            11.4.3 Application Revenue and Trends by type of Application
            11.4.4 Company Revenue and Product Analysis
            11.4.5 South America Product type and Application Market Size
                  11.4.5.1 Brazil
                  11.4.5.2 Venezuela
                  11.4.5.3 Argentina
                  11.4.5.4 Ecuador
                  11.4.5.5 Peru
                  11.4.5.6 Colombia
                  11.4.5.7 Costa Rica
                  11.4.5.8 Rest of South America
        11.5 Racing Tires- Europe Segment Research
        11.6 Europe Market Research (Market Size -$Million / $Billion)
            11.6.1 Segment type Size and Market Size Analysis
            11.6.2 Revenue and Trends
            11.6.3 Application Revenue and Trends by type of Application
            11.6.4 Company Revenue and Product Analysis
            11.6.5 Europe Segment Product type and Application Market Size
                  11.6.5.1 U.K
                  11.6.5.2 Germany
                  11.6.5.3 Italy
                  11.6.5.4 France
                  11.6.5.5 Netherlands
                  11.6.5.6 Belgium
                  11.6.5.7 Denmark
                  11.6.5.8 Spain
                  11.6.5.9 Rest of Europe
        11.7 Racing Tires - APAC Segment Research
        11.8 APAC Market Research (Market Size -$Million / $Billion)
            11.8.1 Segment type Size and Market Size Analysis
            11.8.2 Revenue and Trends
            11.8.3 Application Revenue and Trends by type of Application
            11.8.4 Company Revenue and Product Analysis
            11.8.5 APAC Segment - Product type and Application Market Size
                  11.8.5.1 China
                  11.8.5.2 Australia
                  11.8.5.3 Japan
                  11.8.5.4 South Korea
                  11.8.5.5 India
                  11.8.5.6 Taiwan
                  11.8.5.7 Malaysia
                  11.8.5.8 Hong kong
                  11.8.5.9 Rest of APAC
        11.9 Racing Tires - Middle East Segment and Africa Segment Research
        11.10 Middle East & Africa Market Research (Market Size -$Million / $Billion)
            11.10.1 Segment type Size and Market Size Analysis
            11.10.2 Revenue and Trend Analysis
            11.10.3 Application Revenue and Trends by type of Application
            11.10.4 Company Revenue and Product Analysis
            11.10.5 Middle East Segment Product type and Application Market Size
                  11.10.5.1 Israel
                  11.10.5.2 Saudi Arabia
                  11.10.5.3 UAE
            11.10.6 Africa Segment Analysis
                  11.10.6.1 South Africa
                  11.10.6.2 Rest of Middle East & Africa
12. Racing Tires Market - Entropy
        12.1 New product launches
        12.2 M&A s, collaborations, JVs and partnerships
13. Racing Tires Market - Industry / Segment Competition landscape Premium
        13.1 Market Share Analysis
            13.1.1 Market Share by Country- Top companies
            13.1.2 Market Share by Region- Top 10 companies
            13.1.3 Market Share by type of Application - Top 10 companies
            13.1.4 Market Share by type of Product / Product category- Top 10 companies
            13.1.5 Market Share at global level - Top 10 companies
            13.1.6 Best Practises for companies
14. Racing Tires Market - Key Company List by Country Premium
15. Racing Tires Market Company Analysis
        15.1 Market Share, Company Revenue, Products, M&A, Developments
        15.2 Alliance Tire Group
        15.3 Apollo Tire Ltd
        15.4 Bridgestone Corporation
        15.5 Compagnie Gnrale De Tablissements Michelin Sca
        15.6 Continental Ag
        15.7 Cooper Tire And Rubber Co
        15.8 Goodyear Tire And Rubber Co
        15.9 Hangzhou Zhongce Rubber Co. Ltd
        15.10 Hankook Tire Co
        15.11 Pirelli C. Spa
        15.12 Company 12
        15.13 Company 13 & More
*Financials would be provided on a best efforts basis for private companies
16. Racing Tires Market - Appendix
        16.1 Abbreviations
        16.2 Sources
17. Racing Tires Market - Methodology
        17.1 Research Methodology
            17.1.1 Company Expert Interviews
            17.1.2 Industry Databases
            17.1.3 Associations
            17.1.4 Company News
            17.1.5 Company Annual Reports
            17.1.6 Application Trends
            17.1.7 New Products and Product database
            17.1.8 Company Transcripts
            17.1.9 R&D Trends
            17.1.10 Key Opinion Leaders Interviews
            17.1.11 Supply and Demand Trends

LIST OF TABLES

1.Global Racing Tire Market, By Product Application Market 2019-2024 ($M)
1.1 Auto Racing Tire Market 2019-2024 ($M) - Global Industry Research
1.2 Motorcycle Racing Market 2019-2024 ($M) - Global Industry Research
2.Global Racing Tire Market, By End Usage Market 2019-2024 ($M)
2.1 Replacement Tire Market 2019-2024 ($M) - Global Industry Research
2.2 Oems Market 2019-2024 ($M) - Global Industry Research
3.Global Racing Tire Market, By Tire Type Market 2019-2024 ($M)
3.1 Racing Slick Tire Market 2019-2024 ($M) - Global Industry Research
3.2 Racing Treaded Tire Market 2019-2024 ($M) - Global Industry Research
4.Global Racing Tire Market, By Product Application Market 2019-2024 (Volume/Units)
4.1 Auto Racing Tire Market 2019-2024 (Volume/Units) - Global Industry Research
4.2 Motorcycle Racing Market 2019-2024 (Volume/Units) - Global Industry Research
5.Global Racing Tire Market, By End Usage Market 2019-2024 (Volume/Units)
5.1 Replacement Tire Market 2019-2024 (Volume/Units) - Global Industry Research
5.2 Oems Market 2019-2024 (Volume/Units) - Global Industry Research
6.Global Racing Tire Market, By Tire Type Market 2019-2024 (Volume/Units)
6.1 Racing Slick Tire Market 2019-2024 (Volume/Units) - Global Industry Research
6.2 Racing Treaded Tire Market 2019-2024 (Volume/Units) - Global Industry Research
7.North America Racing Tire Market, By Product Application Market 2019-2024 ($M)
7.1 Auto Racing Tire Market 2019-2024 ($M) - Regional Industry Research
7.2 Motorcycle Racing Market 2019-2024 ($M) - Regional Industry Research
8.North America Racing Tire Market, By End Usage Market 2019-2024 ($M)
8.1 Replacement Tire Market 2019-2024 ($M) - Regional Industry Research
8.2 Oems Market 2019-2024 ($M) - Regional Industry Research
9.North America Racing Tire Market, By Tire Type Market 2019-2024 ($M)
9.1 Racing Slick Tire Market 2019-2024 ($M) - Regional Industry Research
9.2 Racing Treaded Tire Market 2019-2024 ($M) - Regional Industry Research
10.South America Racing Tire Market, By Product Application Market 2019-2024 ($M)
10.1 Auto Racing Tire Market 2019-2024 ($M) - Regional Industry Research
10.2 Motorcycle Racing Market 2019-2024 ($M) - Regional Industry Research
11.South America Racing Tire Market, By End Usage Market 2019-2024 ($M)
11.1 Replacement Tire Market 2019-2024 ($M) - Regional Industry Research
11.2 Oems Market 2019-2024 ($M) - Regional Industry Research
12.South America Racing Tire Market, By Tire Type Market 2019-2024 ($M)
12.1 Racing Slick Tire Market 2019-2024 ($M) - Regional Industry Research
12.2 Racing Treaded Tire Market 2019-2024 ($M) - Regional Industry Research
13.Europe Racing Tire Market, By Product Application Market 2019-2024 ($M)
13.1 Auto Racing Tire Market 2019-2024 ($M) - Regional Industry Research
13.2 Motorcycle Racing Market 2019-2024 ($M) - Regional Industry Research
14.Europe Racing Tire Market, By End Usage Market 2019-2024 ($M)
14.1 Replacement Tire Market 2019-2024 ($M) - Regional Industry Research
14.2 Oems Market 2019-2024 ($M) - Regional Industry Research
15.Europe Racing Tire Market, By Tire Type Market 2019-2024 ($M)
15.1 Racing Slick Tire Market 2019-2024 ($M) - Regional Industry Research
15.2 Racing Treaded Tire Market 2019-2024 ($M) - Regional Industry Research
16.APAC Racing Tire Market, By Product Application Market 2019-2024 ($M)
16.1 Auto Racing Tire Market 2019-2024 ($M) - Regional Industry Research
16.2 Motorcycle Racing Market 2019-2024 ($M) - Regional Industry Research
17.APAC Racing Tire Market, By End Usage Market 2019-2024 ($M)
17.1 Replacement Tire Market 2019-2024 ($M) - Regional Industry Research
17.2 Oems Market 2019-2024 ($M) - Regional Industry Research
18.APAC Racing Tire Market, By Tire Type Market 2019-2024 ($M)
18.1 Racing Slick Tire Market 2019-2024 ($M) - Regional Industry Research
18.2 Racing Treaded Tire Market 2019-2024 ($M) - Regional Industry Research
19.MENA Racing Tire Market, By Product Application Market 2019-2024 ($M)
19.1 Auto Racing Tire Market 2019-2024 ($M) - Regional Industry Research
19.2 Motorcycle Racing Market 2019-2024 ($M) - Regional Industry Research
20.MENA Racing Tire Market, By End Usage Market 2019-2024 ($M)
20.1 Replacement Tire Market 2019-2024 ($M) - Regional Industry Research
20.2 Oems Market 2019-2024 ($M) - Regional Industry Research
21.MENA Racing Tire Market, By Tire Type Market 2019-2024 ($M)
21.1 Racing Slick Tire Market 2019-2024 ($M) - Regional Industry Research
21.2 Racing Treaded Tire Market 2019-2024 ($M) - Regional Industry Research

LIST OF FIGURES

1.US Racing Tires Market Revenue, 2019-2024 ($M)
2.Canada Racing Tires Market Revenue, 2019-2024 ($M)
3.Mexico Racing Tires Market Revenue, 2019-2024 ($M)
4.Brazil Racing Tires Market Revenue, 2019-2024 ($M)
5.Argentina Racing Tires Market Revenue, 2019-2024 ($M)
6.Peru Racing Tires Market Revenue, 2019-2024 ($M)
7.Colombia Racing Tires Market Revenue, 2019-2024 ($M)
8.Chile Racing Tires Market Revenue, 2019-2024 ($M)
9.Rest of South America Racing Tires Market Revenue, 2019-2024 ($M)
10.UK Racing Tires Market Revenue, 2019-2024 ($M)
11.Germany Racing Tires Market Revenue, 2019-2024 ($M)
12.France Racing Tires Market Revenue, 2019-2024 ($M)
13.Italy Racing Tires Market Revenue, 2019-2024 ($M)
14.Spain Racing Tires Market Revenue, 2019-2024 ($M)
15.Rest of Europe Racing Tires Market Revenue, 2019-2024 ($M)
16.China Racing Tires Market Revenue, 2019-2024 ($M)
17.India Racing Tires Market Revenue, 2019-2024 ($M)
18.Japan Racing Tires Market Revenue, 2019-2024 ($M)
19.South Korea Racing Tires Market Revenue, 2019-2024 ($M)
20.South Africa Racing Tires Market Revenue, 2019-2024 ($M)
21.North America Racing Tires By Application
22.South America Racing Tires By Application
23.Europe Racing Tires By Application
24.APAC Racing Tires By Application
25.MENA Racing Tires By Application
26.Bridgestone Corporation, Sales /Revenue, 2015-2018 ($Mn/$Bn)
27.Compagnie Gnrale De Tablissements Michelin Sca, Sales /Revenue, 2015-2018 ($Mn/$Bn)
28.Continental Ag, Sales /Revenue, 2015-2018 ($Mn/$Bn)
29.Goodyear Tire And Rubber Co, Sales /Revenue, 2015-2018 ($Mn/$Bn)
30.Pirelli C. Spa, Sales /Revenue, 2015-2018 ($Mn/$Bn)
31.Alliance Tire Group, Sales /Revenue, 2015-2018 ($Mn/$Bn)
32.Apollo Tire Ltd, Sales /Revenue, 2015-2018 ($Mn/$Bn)
33.Cooper Tire And Rubber Co, Sales /Revenue, 2015-2018 ($Mn/$Bn)
34.Hangzhou Zhongce Rubber Co. Ltd, Sales /Revenue, 2015-2018 ($Mn/$Bn)
35.Hankook Tire Co, Sales /Revenue, 2015-2018 ($Mn/$Bn)