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North America and Europe High-Performance Tires Market by Vehicle Type (Racing Cars, Off Road Vehicles and Passenger and Commercial Vehicle), Sales Channel (OEM and Aftermarket) and Tire Type (Racing Slick, Tread Tires and Other Tire Types): Regional Opportunity Analysis and Industry Forecast, 2021–2030

A16253
Pages: 225
May 2022 | 188 Views
   
Author(s) : Mayank Halmare , Sonia Mutreja
Tables: 104
Charts: 73
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COVID-19

Pandemic disrupted the entire world and affected many industries.

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North America and Europe High-Performance Tires Market Statistics 2030 -

The North America and Europe high performance tires market was valued at $43.53 billion in 2020, and is projected to reach $77.61 billion by 2030, registering a CAGR of 5.6% from 2021 to 2030.

COVID-19 has presented the world with an unprecedented economic, humanitarian, and healthcare challenge. Lockdown measures have helped to contain the spread of coronavirus, but exacted an immense economic toll. On the business side, the automotive sector is one of the hardest hit sectors. Following the pattern witnessed in countries where COVID-19 spread earlier, COVID-19 is predicted to have a severe influence on the high-performance tires industry's competitiveness, economic growth by disrupting global supply networks. Automotive high-performance tires manufacturing players are facing issues, such as mandated plant closures by the government, complete halt of production activities. Furthermore, the COVID-19 pandemic further affected the manufacturing of critical raw materials used in the manufacture of high-performance tires, such as steel and rubber, limiting global supply of these tires However, With the relaxation of lockdown measures and the consequent opening of markets across the world, the demand for high performance tire is anticipated to grow considerably in the near future.

High-performance tires are deigned to provide better traction and handling response and better cornering abilities, particularly in wet and dry conditions. The unique tread patterns, construction features, and rubber compounds of high-performance tires help to provide enhanced precision, responsiveness, and traction to the vehicle. However, apart from the enhanced vehicle performance, high-performance tires are expensive than the standards tires, creates more noise, and are susceptible to wear, faster than regular tires.

Factors such as rise in demand for safety and comfort, growing popularity of racing and adventure events, coupled with increase in demand for better efficiency of vehicle are expected to reinforce the demand for high-performance tires in the near future. However, high up-front cost and volatile raw material prices are some of the factors that are expected to hinder the high-performance tires market growth. Moreover, advancement in technology, rise in adoption of electric vehicles, and increase in demand for high-performance vehicle are anticipated to provide remunerative opportunities for market expansion.

The high-performance tires market is segmented on the basis of vehicle type, sales channel, tire type, and region. By vehicle type, the high-performance tires market is divided into racing cars, off road vehicles, and passenger and commercial vehicle. By sales channel, the market is classified into OEM and aftermarket. On the basis of tire type, the market classified as racing slick, tread tires and other tire types. By region, the market is analyzed across North America and Europe.

The key players analyzed in the North America and Europe high-performance tires market include, Bridgestone Corporation, Continental AG, Nokian Tyre Plc, Hankook Tire & Technology Co., Ltd., Michelin, Pirelli & C. S.p.A., Sumitomo Rubber Industries, Ltd., The Goodyear Tire & Rubber Company, The Yokohama Rubber Co., Ltd., and Toyo Tire Corporation.

Increase in demand for high-performance vehicles

Demand for high-performance vehicles is growing significantly and foreseen to witness considerable growth in the coming years as a result of urbanization and increase in industrial activities. 

Due to the rise in demand for high-performance vehicles in North America and European countries, manufacturers are increasingly establishing manufacturing plants and expanding their presence. Besides, the rise in demand for luxury high-performance cars support the high-performance tires. Luxury high-performance cars are preferred by end users as these provide advanced technologies, better protection, and increased comfort in comparison to their non-luxury counterparts. They are prepared with safety features and advanced technologies. Sales of high-performance luxury cars primarily depend on the perception of quality associated with a vehicle brand. Thus, vehicle makers are adding advanced technologies to luxury high-performance car models to create a unique driving experience. Such initiatives by vehicle makers are expected to drive high-performance tires market growth during the forecast period.

Furthermore, the growing demand for passenger vehicles in developing countries has considerably increased automobile production in the area. Customers in developing countries, such as India, Brazil, and others, have shown considerable growth in their adoption of sedans, SUVs, and heavy commercial vehicles, resulting in increase in demand for automotive tires. Vehicle production in emerging nations is anticipated to increase considerably in the future, providing opportunities for the high-performance tires market to witness growth.

North America and Europe High-Performance Tires Market
By Vehicle Type

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Passenger and Commercial Vehicle is projected as the most lucrative segments

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Increase in demand for safety and comfort

The demand for comfort in driving experiences, such as handling, sitting structure, and aerodynamics has increased significantly in recent years. This has led to a rise in the need for better high-performance tires, which provide better stability for vehicles. Automobile manufacturers are also introducing new comfort features, such as stability and reduced impact of bumps or speed breakers in their vehicles, which propel the demand for automotive tires. For instance, in March 2022, Hankook Tire launched its high-performance all-season Ventus s1 AS tire. These tires perform very well in all weather conditions, such as wet, dry, and snow-covered roads. Also, it increases driving performance and provides safety.

North America and Europe High-Performance Tires Market
By Sales Channel

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OEM is projected as the most lucrative segments

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High-performance tires also help to maintain vertical loads placed on tires by providing resistance to vehicle bounce, roll, and control. They also help reduce brake dive along with acceleration squat to achieve a balanced ride. For instance, in August 2021, Bridgestone added two more high-performance tires, Bridgestone Potenza Sport and Bridgestone Potenza RE980AS+ to its portfolio. Bridgestone Potenza Sport tires offer excellent grip and handling at high speeds and in all weather conditions, while Bridgestone Potenza RE980AS+ provides more comfort for drivers. Hence, rise in demand for comfort and safety is increasing the demand for high-performance tires across the globe.

North America and Europe High-Performance Tires Market
By Tire Type

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Racing Slick is projected as the most lucrative segments

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Covid-19 Impact Analysis

COVID-19 has presented the world with an unprecedented economic, humanitarian, and healthcare challenge. Lockdown measures have helped to contain the spread of coronavirus, but exacted an immense economic toll. On the business side, the automotive sector is one of the hardest hit sectors. Following the pattern witnessed in countries where COVID-19 spread earlier, COVID-19 is predicted to have a severe influence on the high-performance tires industry's competitiveness, economic growth by disrupting global supply networks. Automotive high-performance tires manufacturing players are facing issues, such as mandated plant closures by the government, complete halt of production activities. Furthermore, the COVID-19 pandemic further affected the manufacturing of critical raw materials used in the manufacture of high-performance tires, such as steel and rubber, limiting global supply of these tires However, With the relaxation of lockdown measures and the consequent opening of markets across the world, the demand for high performance tire is anticipated to grow considerably in the near future.

North America and Europe High-Performance Tires Market
By Region

2030
Europe 
North America

Europe would exhibit the highest CAGR of 5.9% during 2021-2030.

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Key Benefits For Stakeholders

  • This study presents analytical depiction of the North America and Europe high-performance tires market analysis along with the current trends and future estimations to depict imminent investment pockets.
  • The overall high-performance tires market opportunity is determined by understanding profitable trends to gain a stronger foothold.
  • The report presents information related to key drivers, restraints, and opportunities of the North America and Europe high-performance tires market with a detailed impact analysis.
  • The current market is quantitatively analyzed from 2020 to 2030 to benchmark the financial competency.
  • Porter’s five forces analysis illustrates the potency of the buyers and suppliers in the industry.

Key Market Segments

  • By Vehicle Type
    • Racing Cars
    • Off Road Vehicles
    • Passenger and Commercial Vehicle
  • By Sales Channel
    • OEM
    • Aftermarket
  • By Tire Type
    • Racing Slick
    • Tread Tires
    • Other Tire Types
  • By Region
    • North America
      • US
      • Canada
      • Mexico
    • Europe
      • Germany
      • France
      • Italy
      • Spain
      • Russia
      • U.K.
      • Rest of Europe
  • KEY PLAYERS
    • Bridgestone Corporation
    • Continental AG
    • Nokian Tyre Plc
    • Hankook Tire & Technology Co. Ltd.
    • Michelin
    • Pirelli & C. S.p.A.
    • Sumitomo Rubber Industries Ltd.
    • The Goodyear Tire & Rubber Company
    • The Yokohama Rubber Co. Ltd.
    • Toyo Tire Corporation.
 

CHAPTER 1:INTRODUCTION

1.1.Report description
1.2.Key benefits for stakeholders
1.3.Key market segments
1.4.Research methodology

1.4.1.Primary research
1.4.2.Secondary research
1.4.3.Analyst tools and models

CHAPTER 2:EXECUTIVE SUMMARY

2.1.CXO perspective

CHAPTER 3:MARKET OVERVIEW

3.1.Market definition and scope
3.2.Key findings

3.2.1.Top impacting factors
3.2.2.Top investment pockets
3.2.3.Top winning strategies

3.3.Porter’s five forces analysis
3.4.Market share analysis, 2020 (%)
3.5.Market dynamics

3.5.1.Drivers

3.5.1.1.Increase in demand for safety and comfort
3.5.1.2.Increase in demand for high-performance vehicles
3.5.1.3.Growing popularity of racing and adventure events
3.5.1.4.Increase in demand for fuel efficiency

3.5.2.Restraints

3.5.2.1.High up-front cost
3.5.2.2.Volatile prices of raw materials

3.5.3.Opportunities

3.5.3.1.Advancement in Technology
3.5.3.2.Rise in adoption of electric vehicles

3.6.Impact of COVID-19 on market

3.6.1.Evolution of outbreak

3.6.1.1.SARS
3.6.1.2.COVID-19

3.6.2.Micro economic impact analysis

3.6.2.1.Consumer trend
3.6.2.2.Technology trend
3.6.2.3.Regulatory trend

3.6.3.Macro-economic impact analysis

3.6.3.1.GDP
3.6.3.2.Import/export analysis
3.6.3.3.Employment index

3.6.4.COVID-19 Impact analysis

3.7.Pricing analysis
3.8.North America and Europe High Performance Tires Market Volume (Million Units), 2020-2030
3.9.Key buying factors

CHAPTER 4:NA AND EU HIGH-PERFORMANCE TIRE MARKET, BY VEHICLE TYPE

4.1.Overview
4.2.Racing cars

4.2.1.Key market trends, growth factors, and opportunities
4.2.2.Market size and forecast, by region
4.2.3.Market analysis, by country

4.3.Off-Road vehicles

4.3.1.Key market trends, growth factors, and opportunities
4.3.2.Market size and forecast, by region
4.3.3.Market analysis, by country

4.4.Passenger and commercial vehicles

4.4.1.Key market trends, growth factors, and opportunities
4.4.2.Market size and forecast, by region
4.4.3.Market analysis, by country

CHAPTER 5:NA AND EU HIGH-PERFORMANCE TIRE MARKET, BY SALES CHANNEL

5.1.Overview
5.2.OEM

5.2.1.Key market trends, growth factors, and opportunities
5.2.2.Market size and forecast, by region
5.2.3.Market analysis, by country

5.3.Aftermarket

5.3.1.Key market trends, growth factors, and opportunities
5.3.2.Market size and forecast, by region
5.3.3.Market analysis, by country

CHAPTER 6:NA AND EU HIGH-PERFORMANCE TIRE MARKET, BY TIRE TYPE

6.1.Overview
6.2.Racing slick

6.2.1.Key market trends, growth factors, and opportunities
6.2.2.Market size and forecast, by region
6.2.3.Market analysis, by country

6.3.Tread tires

6.3.1.Key market trends, growth factors, and opportunities
6.3.2.Market size and forecast, by region
6.3.3.Market analysis, by country

6.4.Other tire types

6.4.1.Key market trends, growth factors, and opportunities
6.4.2.Market size and forecast, by region
6.4.3.Market analysis, by country

CHAPTER 7:NA AND EU HIGH-PERFORMANCE TIRE MARKET, BY REGION

7.1.Overview
7.2.North America

7.2.1.Key market trends, growth factors, and opportunities
7.2.2.Market size and forecast, by Vehicle Type
7.2.3.Market size and forecast, by Sales Channel
7.2.4.Market size and forecast, by Tire Type
7.2.5.Market analysis, by country

7.2.5.1.U.S.

7.2.5.1.1.Market size and forecast, by Vehicle Type
7.2.5.1.2.Market size and forecast, by Sales Channel
7.2.5.1.3.Market size and forecast, by Tire Type

7.2.5.2.Canada

7.2.5.2.1.Market size and forecast, by Vehicle Type
7.2.5.2.2.Market size and forecast, by Sales Channel
7.2.5.2.3.Market size and forecast, by Tire Type

7.2.5.3.Mexico

7.2.5.3.1.Market size and forecast, by Vehicle Type
7.2.5.3.2.Market size and forecast, by Sales Channel
7.2.5.3.3.Market size and forecast, by Tire Type

7.3.Europe

7.3.1.Key market trends, growth factors, and opportunities
7.3.2.Market size and forecast, by Vehicle Type
7.3.3.Market size and forecast, by Sales Channel
7.3.4.Market size and forecast, by Tire Type
7.3.5.Market analysis, by country

7.3.5.1.Germany

7.3.5.1.1.Market size and forecast, by Vehicle Type
7.3.5.1.2.Market size and forecast, by Sales Channel
7.3.5.1.3.Market size and forecast, by Tire Type

7.3.5.2.France

7.3.5.2.1.Market size and forecast, by Vehicle Type
7.3.5.2.2.Market size and forecast, by Sales Channel
7.3.5.2.3.Market size and forecast, by Tire Type

7.3.5.3.Italy

7.3.5.3.1.Market size and forecast, by Vehicle Type
7.3.5.3.2.Market size and forecast, by Sales Channel
7.3.5.3.3.Market size and forecast, by Tire Type

7.3.5.4.Spain

7.3.5.4.1.Market size and forecast, by Vehicle Type
7.3.5.4.2.Market size and forecast, by Sales Channel
7.3.5.4.3.Market size and forecast, by Tire Type

7.3.5.5.Russia

7.3.5.5.1.Market size and forecast, by Vehicle Type
7.3.5.5.2.Market size and forecast, by Sales Channel
7.3.5.5.3.Market size and forecast, by Tire Type

7.3.5.6.UK

7.3.5.6.1.Market size and forecast, by Vehicle Type
7.3.5.6.2.Market size and forecast, by Sales Channel
7.3.5.6.3.Market size and forecast, by Tire Type

7.3.5.7.Rest of Europe

7.3.5.7.1.Market size and forecast, by Vehicle Type
7.3.5.7.2.Market size and forecast, by Sales Channel
7.3.5.7.3.Market size and forecast, by Tire Type

CHAPTER 8:COMPANY PROFILES

8.1.BRIDGESTONE CORPORATION

8.1.1.Company overview
8.1.2.Key executives
8.1.3.Company snapshot
8.1.4.Product portfolio
8.1.5.R&D expenditure
8.1.6.Business performance
8.1.7.Key strategic moves and developments

8.2.CONTINENTAL AG

8.2.1.Company overview
8.2.2.Key executives
8.2.3.Company snapshot
8.2.4.Operating business segments
8.2.5.Product portfolio
8.2.6.R&D expenditure
8.2.7.Business performance
8.2.8.Key strategic moves and developments

8.3.HANKOOK & COMPANY CO., LTD.

8.3.1.Company overview
8.3.2.Key executives
8.3.3.Company snapshot
8.3.4.Product portfolio
8.3.5.R&D expenditure
8.3.6.Business performance
8.3.7.Key strategic moves and developments

8.4.MICHELIN

8.4.1.Company overview
8.4.2.Key executives
8.4.3.Company snapshot
8.4.4.Operating business segments
8.4.5.Product portfolio
8.4.6.R&D expenditure
8.4.7.Business performance
8.4.8.Key strategic moves and developments

8.5.NOKIAN TYRES PLC

8.5.1.Company overview
8.5.2.Key executives
8.5.3.Company snapshot
8.5.4.Product portfolio
8.5.5.Business performance
8.5.6.Key strategic moves and developments

8.6.PIRELLI & C. S.P.A.

8.6.1.Company overview
8.6.2.Key executives
8.6.3.Company snapshot
8.6.4.Product portfolio
8.6.5.R&D expenditure
8.6.6.Business performance
8.6.7.Key strategic moves and developments

8.7.SUMITOMO RUBBER INDUSTRIES, LTD.

8.7.1.Company overview
8.7.2.Key executives
8.7.3.Company snapshot
8.7.4.Operating business segments
8.7.5.Product portfolio
8.7.6.Business performance
8.7.7.Key strategic moves and developments

8.8.THE GOODYEAR TIRE & RUBBER COMPANY

8.8.1.Company overview
8.8.2.Key executives
8.8.3.Company snapshot
8.8.4.Operating business segments
8.8.5.Product portfolio
8.8.6.R&D expenditure
8.8.7.Business performance
8.8.8.Key strategic moves and developments

8.9.THE YOKOHAMA RUBBER CO., LTD.

8.9.1.Company overview
8.9.2.Key executives
8.9.3.Company snapshot
8.9.4.Operating business segments
8.9.5.Product portfolio
8.9.6.R&D expenditure
8.9.7.Business performance
8.9.8.Key strategic moves and developments

8.10.TOYO TIRE CORPORATION

8.10.1.Company overview
8.10.2.Key executives
8.10.3.Company snapshot
8.10.4.Operating business segments
8.10.5.Product portfolio
8.10.6.R&D expenditure
8.10.7.Business performance
8.10.8.Key strategic moves and developments

LIST OF TABLES

TABLE 01.HIGH-PERFORMANCE TIRE MARKET, PRICING ANALYSIS
TABLE 02.NORTH AMERICA AND EUROPE HIGH PERFORMANCE TIRES MARKET, BY PASSENGER CAR, 2020-2030, (MILLION UNITS)
TABLE 03.NORTH AMERICA AND EUROPE HIGH PERFORMANCE TIRES MARKET, BY COMMERCIAL VEHICLE, 2020-2030, (MILLION UNITS)
TABLE 04.NA AND EU HIGH-PERFORMANCE TIRE MARKET, BY VEHICLE TYPE, 2020–2030 ($MILLION)
TABLE 05.NA AND EU HIGH-PERFORMANCE TIRE MARKET REVENUE FOR RACING CARS, BY REGION 2020–2030 ($MILLION)
TABLE 06.HIGH-PERFORMANCE TIRE MARKET REVENUE FOR OFF-ROAD VEHICLES, BY REGION 2020–2030 ($MILLION)
TABLE 07.HIGH-PERFORMANCE TIRE MARKET REVENUE FOR PASSENGER AND COMMERCIAL VEHICLE, BY REGION 2020–2030 ($MILLION)
TABLE 08.HIGH-PERFORMANCE TIRE MARKET, BY SALES CHANNEL, 2020–2030 ($MILLION)
TABLE 09.HIGH-PERFORMANCE TIRE MARKET REVENUE FOR OEM, BY REGION  2020–2030 ($MILLION)
TABLE 10.HIGH-PERFORMANCE TIRE MARKET REVENUE FOR AFTERMARKET, BY REGION  2020–2030 ($MILLION)
TABLE 11.HIGH-PERFORMANCE TIRE MARKET, BY TIRE TYPE, 2020–2030 ($MILLION)
TABLE 12.HIGH-PERFORMANCE TIRE MARKET REVENUE FOR RACING SLICK, BY REGION  2020–2030 ($MILLION)
TABLE 13.HIGH-PERFORMANCE TIRE MARKET REVENUE FOR TREAD TIRES, BY REGION 2020–2030 ($MILLION)
TABLE 14.HIGH-PERFORMANCE TIRE MARKET REVENUE FOR OTHER TIRE TYPES, BY REGION 2020–2030 ($MILLION)
TABLE 15.NORTH AMERICA HIGH-PERFORMANCE TIRE MARKET, BY VEHICLE TYPE, 2020–2030 ($MILLION)
TABLE 16.NORTH AMERICA HIGH-PERFORMANCE TIRE MARKET, BY TIRE TYPE, 2020–2030 ($MILLION)
TABLE 17.NORTH AMERICA HIGH-PERFORMANCE TIRE MARKET, BY TIRE TYPE, 2020–2030 ($MILLION)
TABLE 18.U.S. HIGH-PERFORMANCE TIRE MARKET, BY VEHICLE TYPE, 2020–2030 ($MILLION)
TABLE 19.U.S. HIGH-PERFORMANCE TIRE MARKET, BY SALES CHANNEL, 2020–2030 ($MILLION)
TABLE 20.U.S. HIGH-PERFORMANCE TIRE MARKET, BY TIRE TYPE, 2020–2030 ($MILLION)
TABLE 21.CANADA HIGH-PERFORMANCE TIRE MARKET, BY VEHICLE TYPE, 2020–2030 ($MILLION)
TABLE 22.CANADA HIGH-PERFORMANCE TIRE MARKET, BY SALES CHANNEL, 2020–2030 ($MILLION)
TABLE 23.CANADA HIGH-PERFORMANCE TIRE MARKET, BY TIRE TYPE, 2020–2030 ($MILLION)
TABLE 24.MEXICO HIGH-PERFORMANCE TIRE MARKET, BY VEHICLE TYPE, 2020–2030 ($MILLION)
TABLE 25.MEXICO HIGH-PERFORMANCE TIRE MARKET, BY SALES CHANNEL, 2020–2030 ($MILLION)
TABLE 26.MEXICO HIGH-PERFORMANCE TIRE MARKET, BY TIRE TYPE, 2020–2030 ($MILLION)
TABLE 27.EUROPE HIGH-PERFORMANCE TIRE MARKET, BY VEHICLE TYPE, 2020–2030 ($MILLION)
TABLE 28.EUROPE HIGH-PERFORMANCE TIRE MARKET, BY SALES CHANNEL, 2020–2030 ($MILLION)
TABLE 29.EUROPE HIGH-PERFORMANCE TIRE MARKET, BY TIRE TYPE, 2020–2030 ($MILLION)
TABLE 30.GERMANY HIGH-PERFORMANCE TIRE MARKET, BY VEHICLE TYPE, 2020–2030 ($MILLION)
TABLE 31.GERMANY HIGH-PERFORMANCE TIRE MARKET, BY SALES CHANNEL, 2020–2030 ($MILLION)
TABLE 32.GERMANY HIGH-PERFORMANCE TIRE MARKET, BY TIRE TYPE, 2020–2030 ($MILLION)
TABLE 33.FRANCE HIGH-PERFORMANCE TIRE MARKET, BY VEHICLE TYPE, 2020–2030 ($MILLION)
TABLE 34.FRANCE HIGH-PERFORMANCE TIRE MARKET, BY SALES CHANNEL, 2020–2030 ($MILLION)
TABLE 35.FRANCE HIGH-PERFORMANCE TIRE MARKET, BY TIRE TYPE, 2020–2030 ($MILLION)
TABLE 36.ITALY HIGH-PERFORMANCE TIRE MARKET, BY VEHICLE TYPE, 2020–2030 ($MILLION)
TABLE 37.ITALY HIGH-PERFORMANCE TIRE MARKET, BY SALES CHANNEL, 2020–2030 ($MILLION)
TABLE 38.ITALY HIGH-PERFORMANCE TIRE MARKET, BY TIRE TYPE, 2020–2030 ($MILLION)
TABLE 39.SPAIN HIGH-PERFORMANCE TIRE MARKET, BY VEHICLE TYPE, 2020–2030 ($MILLION)
TABLE 40.SPAIN HIGH-PERFORMANCE TIRE MARKET, BY SALES CHANNEL, 2020–2030 ($MILLION)
TABLE 41.SPAIN HIGH-PERFORMANCE TIRE MARKET, BY TIRE TYPE, 2020–2030 ($MILLION)
TABLE 42.RUSSIA HIGH-PERFORMANCE TIRE MARKET, BY VEHICLE TYPE, 2020–2030 ($MILLION)
TABLE 43.RUSSIA HIGH-PERFORMANCE TIRE MARKET, BY SALES CHANNEL, 2020–2030 ($MILLION)
TABLE 44.RUSSIA HIGH-PERFORMANCE TIRE MARKET, BY TIRE TYPE, 2020–2030 ($MILLION)
TABLE 45.UK HIGH-PERFORMANCE TIRE MARKET, BY VEHICLE TYPE, 2020–2030 ($MILLION)
TABLE 46.UK HIGH-PERFORMANCE TIRE MARKET, BY SALES CHANNEL, 2020–2030 ($MILLION)
TABLE 47.UK HIGH-PERFORMANCE TIRE MARKET, BY TIRE TYPE, 2020–2030 ($MILLION)
TABLE 48.REST OF EUROPE HIGH-PERFORMANCE TIRE MARKET, BY VEHICLE TYPE, 2020–2030 ($MILLION)
TABLE 49.REST OF EUROPE HIGH-PERFORMANCE TIRE MARKET, BY SALES CHANNEL, 2020–2030 ($MILLION)
TABLE 50.REST OF EUROPE HIGH-PERFORMANCE TIRE MARKET, BY TIRE TYPE, 2020–2030 ($MILLION)
TABLE 51.BRIDGESTONE CORPORATION: KEY EXECUTIVES
TABLE 52.BRIDGESTONE CORPORATION: COMPANY SNAPSHOT
TABLE 53.BRIDGESTONE CORPORATION: PRODUCT PORTFOLIO
TABLE 54.BRIDGESTONE CORPORATION: R&D EXPENDITURE, 2018–2020 ($MILLION)
TABLE 55.BRIDGESTONE CORPORATION: NET SALES, 2018–2020 ($MILLION)
TABLE 56.CONTINENTAL AG: KEY EXECUTIVES
TABLE 57.CONTINENTAL AG: COMPANY SNAPSHOT
TABLE 58.CONTINENTAL AG: OPERATING SEGMENTS
TABLE 59.CONTINENTAL AG: PRODUCT PORTFOLIO
TABLE 60.CONTINENTAL AG: R&D EXPENDITURE, 2019–2021 ($MILLION)
TABLE 61.CONTINENTAL AG: NET SALES, 2019–2021 ($MILLION)
TABLE 62.HANKOOK TIRE & TECHNOLOGY CO., LTD.: KEY EXECUTIVES
TABLE 63.HANKOOK TIRE & TECHNOLOGY CO., LTD.: COMPANY SNAPSHOT
TABLE 64.HANKOOK TIRE & TECHNOLOGY CO., LTD.: PRODUCT PORTFOLIO
TABLE 65.HANKOOK TIRE & TECHNOLOGY CO., LTD.: R&D EXPENDITURE, 2018–2020 ($MILLION)
TABLE 66.HANKOOK TIRE & TECHNOLOGY CO., LTD.: NET SALES, 2019–2021 ($MILLION)
TABLE 67.MICHELIN: KEY EXECUTIVES
TABLE 68.MICHELIN: COMPANY SNAPSHOT
TABLE 69.MICHELIN: OPERATING SEGMENTS
TABLE 70.THE GOODYEAR TIRE & RUBBER COMPANY: PRODUCT PORTFOLIO
TABLE 71.MICHELIN: R&D EXPENDITURE, 2019–2021 ($MILLION)
TABLE 72.MICHELIN: NET SALES, 2018–2020 ($MILLION)
TABLE 73.NOKIAN TYRES PLC: KEY EXECUTIVES
TABLE 74.NOKIAN TYRES PLC: COMPANY SNAPSHOT
TABLE 75.NOKIAN TYRES PLC: PRODUCT PORTFOLIO
TABLE 76.NOKIAN TYRE PLC: NET SALES, 2019–2021 ($MILLION)
TABLE 77.PIRELLI & C. S.P.A.: KEY EXECUTIVES
TABLE 78.PIRELLI & C. S.P.A.: COMPANY SNAPSHOT
TABLE 79.PIRELLI & C. S.P.A.: PRODUCT PORTFOLIO
TABLE 80.PIRELLI & C. S.P.A.: R&D EXPENDITURE, 2019–2021 ($MILLION)
TABLE 81.PIRELLI & C. S.P.A.: NET SALES, 2019–2021 ($MILLION)
TABLE 82.SUMITOMO RUBBER INDUSTRIES, LTD.: KEY EXECUTIVES
TABLE 83.SUMITOMO RUBBER INDUSTRIES, LTD.: COMPANY SNAPSHOT
TABLE 84.SUMITOMO RUBBER INDUSTRIES, LTD.: OPERATING SEGMENTS
TABLE 85.SUMITOMO RUBBER INDUSTRIES, LTD.: PRODUCT PORTFOLIO
TABLE 86.SUMITOMO RUBBER INDUSTRIES, LTD.: NET SALES, 2019–2021 ($MILLION)
TABLE 87.THE GOODYEAR TIRE & RUBBER COMPANY: KEY EXECUTIVES
TABLE 88.THE GOODYEAR TIRE & RUBBER COMPANY: COMPANY SNAPSHOT
TABLE 89.THE GOODYEAR TIRE & RUBBER COMPANY: OPERATING SEGMENTS
TABLE 90.THE GOODYEAR TIRE & RUBBER COMPANY: PRODUCT PORTFOLIO
TABLE 91.THE GOODYEAR TIRE & RUBBER COMPANY: R&D EXPENDITURE, 2019–2021 ($MILLION)
TABLE 92.THE GOODYEAR TIRE & RUBBER COMPANY: NET SALES, 2018–2020 ($MILLION)
TABLE 93.THE YOKOHAMA RUBBER CO., LTD.: KEY EXECUTIVES
TABLE 94.THE YOKOHAMA RUBBER CO., LTD.: COMPANY SNAPSHOT
TABLE 95.THE YOKOHAMA RUBBER CO., LTD.: OPERATING SEGMENTS
TABLE 96.THE YOKOHAMA RUBBER CO., LTD.: PRODUCT PORTFOLIO
TABLE 97.THE YOKOHAMA RUBBER CO., LTD.: R&D EXPENDITURE, 2018–2020 ($MILLION)
TABLE 98.THE YOKOHAMA RUBBER CO., LTD.: NET SALES, 2018–2020 ($MILLION)
TABLE 99.TOYO TIRE CORPORATION: KEY EXECUTIVES
TABLE 100.TOYO TIRE CORPORATION: COMPANY SNAPSHOT
TABLE 101.TOYO TIRE CORPORATION: OPERATING SEGMENTS
TABLE 102.TOYO TIRE CORPORATION: PRODUCT PORTFOLIO
TABLE 103.TOYO TIRE CORPORATION: R&D EXPENDITURE, 2018–2020 ($MILLION)
TABLE 104.TOYO TIRE CORPORATION: NET SALES, 2019–2021 ($MILLION)

LIST OF FIGURES

FIGURE 01.KEY MARKET SEGMENTS
FIGURE 02.EXECUTIVE SUMMARY
FIGURE 03.EXECUTIVE SUMMARY
FIGURE 04.TOP IMPACTING FACTORS
FIGURE 05.TOP INVESTMENT POCKETS
FIGURE 06.TOP WINNING STRATEGIES, BY YEAR, 2019-2022*
FIGURE 07.TOP WINNING STRATEGIES, BY DEVELOPMENT, 2019-2022*
FIGURE 08.TOP WINNING STRATEGIES, BY COMPANY, 2019-2022*
FIGURE 09.MODERATE-TO-HIGH BARGAINING POWER OF SUPPLIERS
FIGURE 10.MODERATE-TO-HIGH THREAT OF NEW ENTRANTS
FIGURE 11.LOW-TO-HIGH THREAT OF SUBSTITUTES
FIGURE 12.LOW TO HIGH INTENSITY OF RIVALRY
FIGURE 13.LOW-TO-HIGH BARGAINING POWER OF BUYERS
FIGURE 14.MARKET SHARE ANALYSIS (2020)
FIGURE 15.NA AND EU HIGH-PERFORMANCE TIRE MARKET, BY VEHICLE TYPE, 2020–2030
FIGURE 16.COMPARATIVE SHARE ANALYSIS OF HIGH-PERFORMANCE TIRE MARKET FOR RACING CARS, BY COUNTRY,  2020 & 2030 ($MILLION)
FIGURE 17.COMPARATIVE SHARE ANALYSIS OF HIGH-PERFORMANCE TIRE MARKET FOR OFF-ROAD VEHICLES, BY COUNTRY, 2020 & 2030 ($MILLION)
FIGURE 18.COMPARATIVE SHARE ANALYSIS OF HIGH-PERFORMANCE TIRE MARKET FOR PASSENGER AND COMMERCIAL VEHICLE, BY COUNTRY, 2020 & 2030 ($MILLION)
FIGURE 19.HIGH-PERFORMANCE TIRE MARKET, BY SALES CHANNEL, 2020–2030
FIGURE 20.COMPARATIVE SHARE ANALYSIS OF HIGH-PERFORMANCE TIRE MARKET FOR OEM, BY COUNTRY, 2020 & 2030 ($MILLION)
FIGURE 21.COMPARATIVE SHARE ANALYSIS OF HIGH-PERFORMANCE TIRE MARKET FOR AFTERMARKET, BY COUNTRY,  2020 & 2030 ($MILLION)
FIGURE 22.HIGH-PERFORMANCE TIRE MARKET, BY TIRE TYPE, 2020–2030
FIGURE 23.COMPARATIVE SHARE ANALYSIS OF HIGH-PERFORMANCE TIRE MARKET FOR RACING SLICK, BY COUNTRY,  2020 & 2030 ($MILLION)
FIGURE 24.COMPARATIVE SHARE ANALYSIS OF HIGH-PERFORMANCE TIRE MARKET FOR TREAD TIRES, BY COUNTRY,  2020 & 2030 ($MILLION)
FIGURE 25.COMPARATIVE SHARE ANALYSIS OF HIGH-PERFORMANCE TIRE MARKET FOR OTHER TIRE TYPES, BY COUNTRY, 2020 & 2030 ($MILLION)
FIGURE 26.HIGH-PERFORMANCE TIRE MARKET, BY REGION, 2020–2030 (%)
FIGURE 27.COMPARATIVE SHARE ANALYSIS OF HIGH-PERFORMANCE TIRE MARKET, BY COUNTRY, 2020–2030 (%)
FIGURE 28.U.S. HIGH-PERFORMANCE TIRE MARKET, 2020–2030 ($MILLION)
FIGURE 29.CANADA HIGH-PERFORMANCE TIRE MARKET, 2020–2030 ($MILLION)
FIGURE 30.MEXICO HIGH-PERFORMANCE TIRE MARKET, 2020–2030 ($MILLION)
FIGURE 31.COMPARATIVE SHARE ANALYSIS OF HIGH-PERFORMANCE TIRE MARKET, BY COUNTRY, 2020–2030 (%)
FIGURE 32.GERMANY HIGH-PERFORMANCE TIRE MARKET, 2020–2030 ($MILLION)
FIGURE 33.FRANCE HIGH-PERFORMANCE TIRE MARKET, 2020–2030 ($MILLION)
FIGURE 34.ITALY HIGH-PERFORMANCE TIRE MARKET, 2020–2030 ($MILLION)
FIGURE 35.SPAIN HIGH-PERFORMANCE TIRE MARKET, 2020–2030 ($MILLION)
FIGURE 36.RUSSIA HIGH-PERFORMANCE TIRE MARKET, 2020–2030 ($MILLION)
FIGURE 37.UK HIGH-PERFORMANCE TIRE MARKET, 2020–2030 ($MILLION)
FIGURE 38.REST OF EUROPE HIGH-PERFORMANCE TIRE MARKET, 2020–2030 ($MILLION)
FIGURE 39.BRIDGESTONE CORPORATION: R&D EXPENDITURE, 2018–2020 ($MILLION)
FIGURE 40.BRIDGESTONE CORPORATION: NET SALES, 2018–2020 ($MILLION)
FIGURE 41.BRIDGESTONE CORPORATION: REVENUE SHARE BY REGION, 2020 (%)
FIGURE 42.CONTINENTAL AG: R&D EXPENDITURE, 2019–2021 ($MILLION)
FIGURE 43.CONTINENTAL AG: NET SALES, 2019–2021 ($MILLION)
FIGURE 44.CONTINENTAL AG: REVENUE SHARE BY SEGMENT, 2021 (%)
FIGURE 45.CONTINENTAL AG: REVENUE SHARE BY REGION, 2021 (%)
FIGURE 46.HANKOOK TIRE & TECHNOLOGY CO., LTD.: R&D EXPENDITURE, 2018–2020 ($MILLION)
FIGURE 47.HANKOOK TIRE & TECHNOLOGY CO., LTD.: NET SALES, 2019–2021 ($MILLION)
FIGURE 48.HANKOOK TIRE & TECHNOLOGY CO., LTD.: REVENUE SHARE BY REGION, 2020 (%)
FIGURE 49.MICHELIN: R&D EXPENDITURE, 2019–2021 ($MILLION)
FIGURE 50.THE GOODYEAR TIRE & RUBBER COMPANY: NET SALES, 2019–2021 ($MILLION)
FIGURE 51.MICHELIN: REVENUE SHARE BY SEGMENT, 2021 (%)
FIGURE 52.MICHELIN: REVENUE SHARE BY REGION, 2021 (%)
FIGURE 53.NOKIAN TYRE PLC: NET SALES, 2019–2021 ($MILLION)
FIGURE 54.NOKIAN TYRE PLC: REVENUE SHARE BY SEGMENT, 2021 (%)
FIGURE 55.NOKIAN TYRE PLC: REVENUE SHARE BY REGION, 2021 (%)
FIGURE 56.PIRELLI & C. S.P.A.: R&D EXPENDITURE, 2019–2021 ($MILLION)
FIGURE 57.PIRELLI & C. S.P.A.: NET SALES, 2019–2021 ($MILLION)
FIGURE 58.PIRELLI & C. S.P.A.: REVENUE SHARE BY REGION, 2021 (%)
FIGURE 59.SUMITOMO RUBBER INDUSTRIES, LTD.: NET SALES, 2020–2021 ($MILLION)
FIGURE 60.SUMITOMO RUBBER INDUSTRIES, LTD.: REVENUE SHARE BY SEGMENT, 2021 (%)
FIGURE 61.SUMITOMO RUBBER INDUSTRIES, LTD.: REVENUE SHARE BY REGION, 2021 (%)
FIGURE 62.THE GOODYEAR TIRE & RUBBER COMPANY: R&D EXPENDITURE, 2019–2021 ($MILLION)
FIGURE 63.THE GOODYEAR TIRE & RUBBER COMPANY: NET SALES, 2019–2021 ($MILLION)
FIGURE 64.THE GOODYEAR TIRE & RUBBER COMPANY: REVENUE SHARE BY SEGMENT, 2021 (%)
FIGURE 65.THE GOODYEAR TIRE & RUBBER COMPANY: REVENUE SHARE BY REGION, 2021 (%)
FIGURE 66.THE YOKOHAMA RUBBER CO., LTD.: R&D EXPENDITURE, 2018–2020 ($MILLION)
FIGURE 67.THE YOKOHAMA RUBBER CO., LTD.: NET SALES, 2018–2020 ($MILLION)
FIGURE 68.THE YOKOHAMA RUBBER CO., LTD.: REVENUE SHARE BY SEGMENT, 2020 (%)
FIGURE 69.THE YOKOHAMA RUBBER CO., LTD.: REVENUE SHARE BY REGION, 2020 (%)
FIGURE 70.TOYO TIRE CORPORATION: R&D EXPENDITURE, 2018–2020 ($MILLION)
FIGURE 71.TOYO TIRE CORPORATION: NET SALES, 2019–2021 ($MILLION)
FIGURE 72.TOYO TIRE CORPORATION: REVENUE SHARE BY SEGMENT, 2021 (%)
FIGURE 73.TOYO TIRE CORPORATION: REVENUE SHARE BY REGION, 2020 (%)


 
 

The high-performance tires market is expected to witness significant growth globally, owing to rise in demand for safety and comfort features and increasing production of vehicles in developing countries. The market growth is supplemented by numerous developments carried out by top high-performance tire manufacturers, such as Bridgestone, Group Michelin, Goodyear Tire & Rubber Co, Continental A.G., Sumitomo Rubber Industries, Pirelli & C. S.p.A, Yokohama Rubber Co. Ltd., and others which has led to the growth of the market. Moreover, rise in demand for high-performance and fuel-efficient vehicles propel the growth of the market.

For instance, in December 2021, Yokohama, a tire manufacturer unveiled its high-performance tire, ADVAN sport V107. These high-performance tires deliver excellent ride comfort and handling at faster speeds and with a strong grip on roads. Moreover, in January 2022, Michelin, one of the leading companies in the tire industry, launched its Pilot sport 5 and Primacy 4+ high-performance tires. Pilot sport 5 offers a better driving experience with extra miles while Primacy 4+ provides excellent safety. Such product launches and developments supplement the growth of the market.

Major players adopted different strategies such as product launch and development, partnership, acquisition, collaboration, and business expansion to gain a fair share of the market. Among these, the supply contract is a leading strategy used by prominent players, such as Toyo Tire, Hankook Tire, and others. For instance, in December 2021, Bridgestone completed the acquisition of OTR Tire Management Solutions Downer EDI Limited. Similarly, in March 2019, Continental AG established its greenfield tire plant in Rayong, Thailand. Thus, these strategies are expected to support the market growth during the forecast years.

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