Global Automotive High-performance Tires Market 2019-2023
About this market
Innovations in automotive high-performance tires market will likely to help the market grow. The automotive high-performance tires market is witnessing developments wherein the vendors are spending on more efficient tread designs and side profiles. Such research and development activities in improving the overall performance and reliability of high-performance tires are resulting in the production of more efficient high-performance tires. Technavio’s analysts have predicted that the automotive high-performance tires market will register a CAGR of more than 16% by 2023.
Performance benefits and advantages of high-performance tires
High performance tires are designed to deliver optimum performance and driving characteristics compared with conventional tires.
High-performance tires are expensive
The developments in automotive tires include new material, tread design, and manufacturing process. These developments are highly expensive, hence posing a biggest challenge for the automotive high-performance tires market.
For the detailed list of factors that will drive and challenge the growth of the automotive high-performance tires market during the 2018-2022, view our report.
The market appears to be fragmented and with the presence of several companies including Bridgestone and Continental the competitive environment is quite intense. Factors such as the innovations in automotive high-performance tires and performance benefits and advantages of high-performance tires, will provide considerable growth opportunities to automotive high-performance tires manufactures. Bridgestone, Continental, MICHELIN, Pirelli & C, The Goodyear Tire & Rubber, and THE YOKOHAMA RUBBER are some of the major companies covered in this report.
‘With the presence of a considerable number of companies, this market appears to be fragmented. The prominent tire manufacturers globally are investing considerably in research and development of green tires. These tire manufacturers are using their competitive intelligence and expertise in tire designs and development to manufacture ultra-low-rolling-resistance tires, which are not only fuel-efficient but also reduce carbon emissions significantly.’
Technavio Announces the Publication of its Research Report – Global Automotive High-Performance Tires Market 2018-2022
Technavio recognizes the following companies as the key players in the global automotive high-performance tires market: Bridgestone, Continental, MICHELIN, Pirelli & C, The Goodyear Tire & Rubber, and THE YOKOHAMA RUBBER.
Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is the innovations in automotive high-performance tires.”
According to the report, one of the major drivers for this market is the performance benefits and advantages of high-performance tires.
Further, the report states that one of the major factors hindering the growth of this market is the high-performance tires are expensive.
Pirelli & C
The Goodyear Tire & Rubber
THE YOKOHAMA RUBBER