DUBLIN--(BUSINESS WIRE)--Research and Markets (http://www.researchandmarkets.com/research/wl5kn6/global_racing) has announced the addition of the "Global Racing Tire Market 2014-2018" report to their offering.
The Global Racing Tire market will grow at a CAGR of 8.6 percent over the period 2013-2018.
The main trend witnessed in the Global Racing Tires is the increasing use of multi-zone treads in tires. The Goodyear Tire & Rubber Co introduced single right side tires that have two discrete tread compounds. The company initially developed the technology for passenger cars, but then redesigned it for racing cars v. The potential of this technology has helped it to gain immense popularity in all geographies.
According to the report, the Global Racing Tire market is driven by several factors, the main one being the increase in the popularity of different types of automotive racing across all geographies. Popular racing events such as Formula One, NASCAR, and motorbike races attract the majority of sponsorships and promotional activities. These racing events have led to the introduction of various motorsport competitive racing events with different types of vehicles such as SUVs, SVTs and dirt bikes.
Further, the report states that the Global Racing Tire market is a niche market. As racing tires cannot be used for anything but racing purposes, it restricts their sale to other end-user segments. The absence of other end-user groups curtails market growth.
Key Vendors
- Bridgestone Corp.
- Compagnie Générale des Établissements Michelin SCA
- Continental AG
- Goodyear Tire and Rubber Co.
- Pirelli & C. SpA
Other Prominent Vendors
- Alliance Tire Group
- Apollo Tires Ltd.
- Cooper Tire and Rubber Co.
- Hangzhou Zhongce Rubber Co. Ltd.
- Hankook Tire Co. Ltd.
- Kumho Tire Co.
- Maxxis International GmbH
- McCreary Tire and Rubber Co.
- Nokian Tires plc
- Sumitomo Rubber Industries Ltd.
- Toyo Tire & Rubber Co.
- Yokohama Rubber Co. Ltd.
Market Drivers/Challenges/Trends
- Growing Popularity of Diverse Varieties of Racing.
- Market Is Focused on Limited Range of End-users.
- Increased Usage of Multi-zone Tread.
Key Questions Answered in this Report
- What will the market size be in 2018 and what will the growth rate be?
- What are the key market trends?
- What is driving this market?
- What are the challenges to market growth?
- Who are the key vendors in this market space?
- What are the market opportunities and threats faced by the key vendors?
- What are the strengths and weaknesses of the key vendors?
For more information visit http://www.researchandmarkets.com/research/wl5kn6/global_racing
