The Asia Pacific Racing Tires Market would witness market growth of 6.1% CAGR during the forecast period (2023-2030).
The China market dominated the Asia Pacific Racing Tires Market, By Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $1,137.5 Million by 2030. The Japan market is registering a CAGR of 5.4% during (2023 - 2030). Additionally, The India market would showcase a CAGR of 6.7% during (2023 - 2030).
The racing tires market stands at the intersection of technological prowess, high-performance engineering, and the adrenaline-fueled motorsports. As a critical component of a race car's performance, it plays a pivotal role in translating the engine's raw power into traction, grip, and ultimately, victory on the track.
Additionally, in the relentless pursuit of excellence, the racing tires market has experienced dynamic shifts in adoption trends, reflecting the broader transformations within the automotive and motorsports landscape.
As per the Government of India, in a breakthrough moment for motorsports development in India, the first-ever MotoGP Bharat, one of the races of the prestigious MotoGP series, was organized in Uttar Pradesh State in 2023. Hence, the rising motorcar sports in Asia Pacific will boost the demand for racing tires in the region.
Based on Tire Type, the market is segmented into Racing Slick Tires, and Racing Treaded Tires. Based on Application, the market is segmented into Auto Racing Tires, and Motorcycle Racing Tires. Based on Distribution Channel, the market is segmented into Replacement Tires, and OEMs. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
The China market dominated the Asia Pacific Racing Tires Market, By Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $1,137.5 Million by 2030. The Japan market is registering a CAGR of 5.4% during (2023 - 2030). Additionally, The India market would showcase a CAGR of 6.7% during (2023 - 2030).
The racing tires market stands at the intersection of technological prowess, high-performance engineering, and the adrenaline-fueled motorsports. As a critical component of a race car's performance, it plays a pivotal role in translating the engine's raw power into traction, grip, and ultimately, victory on the track.
Additionally, in the relentless pursuit of excellence, the racing tires market has experienced dynamic shifts in adoption trends, reflecting the broader transformations within the automotive and motorsports landscape.
As per the Government of India, in a breakthrough moment for motorsports development in India, the first-ever MotoGP Bharat, one of the races of the prestigious MotoGP series, was organized in Uttar Pradesh State in 2023. Hence, the rising motorcar sports in Asia Pacific will boost the demand for racing tires in the region.
Based on Tire Type, the market is segmented into Racing Slick Tires, and Racing Treaded Tires. Based on Application, the market is segmented into Auto Racing Tires, and Motorcycle Racing Tires. Based on Distribution Channel, the market is segmented into Replacement Tires, and OEMs. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
List of Key Companies Profiled
- Bridgestone Corporation
- Continental AG
- Michelin
- Hankook Tire & Technology
- Pirelli & C. S.p.A.
- The Goodyear Tire & Rubber Company
- The Yokohama Rubber Co., Ltd.
- Zhongce Rubber Group Co., Limited
- Nexen Tire
- Maxxis International USA (Cheng Shin Rubber Industry Co.)
Market Report Segmentation
By Tire Type- Racing Slick Tires
- Racing Treaded Tires
- Auto Racing Tires
- Motorcycle Racing Tires
- Replacement Tires
- OEMs
- China
- Japan
- India
- South Korea
- Singapore
- Malaysia
- Rest of Asia Pacific
Table of Contents
Chapter 1. Market Scope & Methodology
Chapter 2. Market at a Glance
Chapter 3. Market Overview
Chapter 5. Asia Pacific Racing Tires Market, By Tire Type
Chapter 6. Asia Pacific Racing Tires Market, By Application
Chapter 7. Asia Pacific Racing Tires Market, By Distribution Channel
Chapter 8. Asia Pacific Racing Tires Market, By Country
Chapter 9. Company Profiles
Companies Mentioned
- Bridgestone Corporation
- Continental AG
- Michelin
- Hankook Tire & Technology
- Pirelli & C. S.p.A.
- The Goodyear Tire & Rubber Company
- The Yokohama Rubber Co., Ltd.
- Zhongce Rubber Group Co., Limited
- Nexen Tire
- Maxxis International USA (Cheng Shin Rubber Industry Co.)
Methodology
LOADING...
