Global High-performance Tires Market to reach USD 48.17 billion by 2027.Global High-performance Tires Market to reach USD 48.17 billion by 2027.

The global high-performance tires growth is projected to develop at a healthy rate of more than 6.5 percent between 2021 and 2027, with a market value of almost USD 31 billion in 2020.High-performance tires are made to provide dynamic control, fast response, and excellent grip to prevent friction. Increasing in the wear and tear of rubber tires and increasing racing competitions are factors contributing to the market growth. For instance: according to Statista, the volume of the sports cars is expected to rise to 8,581,000 units, by the year end 2025. Whereas the worth of the sports car is expected to rise to USD 59,332 Million, by the year end 2025. However, reduction in the production and supply due to COVID-19 Pandemic and low maintenance and reduced tire replacements, due to people staying in there houses, impede the growth of the market over the forecast period of 2021-2027. Also, growing technological innovations and increasing investment in the high-performance tires market is likely to boost the market growth in the forecast period.

The regional analysis of global high-performance Tires market includes Asia Pacific, North America, Europe, Latin America and Rest of the World for analysis and estimation, Europe is the significant region in terms of largest market share, across the world owing to increasing demand of racing cars. Whereas, North America is anticipated to exhibit highest growth rate over the forecast period 2021-2027. Factors such as rapid technological advancements would create lucrative growth prospects for the High-performance Tires market across North America region.

Major market player included in this report are:
Bridgestone Corporation
Yokohama Rubber Co. Ltd
Sumitomo Rubber Industries Ltd
Pirelli & C. SpA
MRF Limited
Michelin
Kumho Tire Co. Inc.
Hankook Tire & Technology Co. Ltd
Goodyear Tire & Rubber Company
Continental AG




The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:

By tyre type:
Racing Slick
Tread Tire
Other Tire Types
By Sales Channel type:
OEM
Replacement/Aftermarket
By Vehicle type:
Racing Cars
Off-road Vehicles
By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE

Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Rest of the World

Furthermore, years considered for the study are as follows:

Historical year - 2018, 2019
Base year - 2020
Forecast period - 2021 to 2027

Target Audience of the Global High-performance Tires Market in Market Study:

Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Venture capitalists
Value-Added Resellers (VARs)
Third-party knowledge providers
Investment bankers
Investors