North America Racing Tires Market Size, Share & Trends Analysis Report By Tire Type (Racing Slick Tires, and Racing Treaded Tires), By Application (Auto Racing Tires, and Motorcycle Racing Tires), By Distribution Channel, By Country and Growth Forecast, 2023 - 2030
The North America Racing Tires Market would witness market growth of 5.2% CAGR during the forecast period (2023-2030).
The US market dominated the North America Racing Tires Market, By Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $3,461.4 Thousands by 2030. The Canada market is experiencing a CAGR of 7.5% during (2023 - 2030). Additionally, The Mexico market would exhibit a CAGR of 6.6% during (2023 - 2030).
As industries emphasize sustainability more, the racing tires market is undergoing a paradigm transition toward environmentally conscious products. Manufacturers are exploring the integration of sustainable materials and manufacturing processes to align with environmental initiatives.
Moreover, the heart of racing tire innovation lies in material science, where advancements drive unprecedented performance and safety levels. From developing novel compounds to integrating advanced nanomaterials, racing tire manufacturers are pushing the boundaries of what is possible, aiming for optimal grip, heat resistance, and durability under extreme racing conditions.
Some notable racing series and events in Canada include the NASCAR Pinty's Series, the Canadian Touring Car Championship (CTCC), and various local and regional racing competitions. As per the Government of Canada, in 2021, the governments of Canada and Quebec finalized an agreement with the Formula One World Championship (FOWC) to ensure the return of the Formula 1 Grand Prix du Canada and its extension into 2031, two years beyond the current agreement.
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 U.S., Mexico, Canada, and Rest of North America.
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.)
By Tire Type
- Racing Slick Tires
- Racing Treaded Tires
- Auto Racing Tires
- Motorcycle Racing Tires
- Replacement Tires
- OEMs
- US
- Canada
- Mexico
- Rest of North America
- Chapter 1. Market Scope & Methodology
- 1.1 Market Definition
- 1.2 Objectives
- 1.3 Market Scope
- 1.4 Segmentation
- 1.4.1 North America Racing Tires Market, by Tire Type
- 1.4.2 North America Racing Tires Market, by Application
- 1.4.3 North America Racing Tires Market, by Distribution Channel
- 1.4.4 North America Racing Tires Market, by Country
- 1.5 Methodology for the research
- Chapter 2. Market at a Glance
- 2.1 Key Highlights
- Chapter 3. Market Overview
- 3.1 Introduction
- 3.1.1 Overview
- 3.1.1.1 Market Composition and Scenario
- 3.2 Key Factors Impacting the Market
- 3.2.1 Market Drivers
- 3.2.2 Market Restraints
- 3.2.3 Market Opportunities
- 3.2.4 Market Challenges
- 3.3 Porter Five Forces Analysis
- Chapter 4. Strategies Deployed in Racing Tires Market
- Chapter 5. North America Racing Tires Market, By Tire Type
- 5.1 North America Racing Slick Tires Market, By Country
- 5.2 North America Racing Treaded Tires Market, By Country
- Chapter 6. North America Racing Tires Market, By Application
- 6.1 North America Auto Racing Tires Market, By Country
- 6.2 North America Motorcycle Racing Tires Market, By Country
- Chapter 7. North America Racing Tires Market, By Distribution Channel
- 7.1 North America Replacement Tires Market, By Country
- 7.2 North America OEMs Market, By Country
- Chapter 8. North America Racing Tires Market, By Country
- 8.1 US Racing Tires Market
- 8.1.1 US Racing Tires Market, By Tire Type
- 8.1.2 US Racing Tires Market, By Application
- 8.1.3 US Racing Tires Market, By Distribution Channel
- 8.2 Canada Racing Tires Market
- 8.2.1 Canada Racing Tires Market, By Tire Type
- 8.2.2 Canada Racing Tires Market, By Application
- 8.2.3 Canada Racing Tires Market, By Distribution Channel
- 8.3 Mexico Racing Tires Market
- 8.3.1 Mexico Racing Tires Market, By Tire Type
- 8.3.2 Mexico Racing Tires Market, By Application
- 8.3.3 Mexico Racing Tires Market, By Distribution Channel
- 8.4 Rest of North America Racing Tires Market
- 8.4.1 Rest of North America Racing Tires Market, By Tire Type
- 8.4.2 Rest of North America Racing Tires Market, By Application
- 8.4.3 Rest of North America Racing Tires Market, By Distribution Channel
- Chapter 9. Company Profiles
- 9.1 Bridgestone Corporation
- 9.1.1 Company Overview
- 9.1.2 Financial Analysis
- 9.1.3 Segmental Analysis
- 9.1.4 Recent strategies and developments:
- 9.1.4.1 Product Launches and Product Expansions:
- 9.1.5 SWOT Analysis
- 9.2 Continental AG
- 9.2.1 Company Overview
- 9.2.2 Financial Analysis
- 9.2.3 Segmental and Regional Analysis
- 9.2.4 Research & Development Expense
- 9.2.5 Recent strategies and developments:
- 9.2.5.1 Partnerships, Collaborations, and Agreements:
- 9.2.5.2 Product Launches and Product Expansions:
- 9.2.6 SWOT Analysis
- 9.3 Michelin
- 9.3.1 Company Overview
- 9.3.2 Financial Analysis
- 9.3.3 Segmental and Regional Analysis
- 9.3.4 SWOT Analysis
- 9.4 Hankook Tire & Technology
- 9.4.1 Company Overview
- 9.4.2 Financial Analysis
- 9.4.3 Regional Analysis
- 9.4.4 Recent strategies and developments:
- 9.4.4.1 Partnerships, Collaborations, and Agreements:
- 9.4.4.2 Acquisition and Mergers:
- 9.4.5 SWOT Analysis
- 9.5 Pirelli & C. S.p.A.
- 9.5.1 Company Overview
- 9.5.2 Financial Analysis
- 9.5.3 Regional Analysis
- 9.5.4 Research & Development Expenses
- 9.5.5 Recent strategies and developments:
- 9.5.5.1 Partnerships, Collaborations, and Agreements:
- 9.5.5.2 Product Launches and Product Expansions:
- 9.5.6 SWOT Analysis
- 9.6 The Goodyear Tire & Rubber Company
- 9.6.1 Company Overview
- 9.6.2 Financial Analysis
- 9.6.3 Segmental and Regional Analysis
- 9.6.4 Research & Development Expenses
- 9.6.5 Recent strategies and developments:
- 9.6.5.1 Partnerships, Collaborations, and Agreements:
- 9.6.6 SWOT Analysis
- 9.7 The Yokohama Rubber Co., Ltd.
- 9.7.1 Company Overview
- 9.7.2 Financial Analysis
- 9.7.3 Segmental Analysis
- 9.7.4 Recent strategies and developments:
- 9.7.4.1 Partnerships, Collaborations, and Agreements:
- 9.7.5 SWOT Analysis
- 9.8 Zhongce Rubber Group Co., Limited
- 9.8.1 Company Overview
- 9.8.2 SWOT Analysis
- 9.9 Nexen Tire
- 9.9.1 Company Overview
- 9.9.2 Financial Analysis
- 9.9.3 SWOT Analysis
- 9.10. Maxxis International–USA (Cheng Shin Rubber Industry Co.)
- 9.10.1 Company Overview
- 9.10.2 SWOT Analysis
Research Assistance
Download our eBook: How to Succeed Using Market Research
Learn how to effectively navigate the market research process to help guide your organization on the journey to success.
Download eBook