Global Automotive High-performance Tires Market 2019-2023 | 16% CAGR Projection Through 2023 | Technavio
LONDON--(BUSINESS WIRE)--Feb 10, 2020--
The global automotive high-performance tires market is expected to post a CAGR of more than 16% during the period 2019-2023, according to the latest market research report by Technavio. Request a free sample report
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20200210005299/en/
Technavio has announced its latest market research report titled global automotive high-performance tires market 2019-2023 (Graphic: Business Wire)
High-performance tires have become increasingly popular over recent years. These tires offer superior road handling capabilities in summer and dry conditions. Also, the soft rubber compound used in these tires provides greater surface area for contact with the road surface. This ensures better stability and maneuverability even in sharp turns at high speeds. High-performance tires also work better with onboard advanced systems such as anti-lock braking system (ABS), electronic stability control (ESC), traction control system (TCS), and electronic brake distribution (EBD). Many such benefits are increasing the demand for high-performance tires, which is driving the growth of the market.
To learn more about the global trends impacting the future of market research, download a free sample: https://www.technavio.com/talk-to-us?report=RTNTR30250
As per Technavio, the development of eco-friendly tires will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.
Global Automotive High-Performance Tires Market: Increasing Product Portfolio of Eco-Friendly Tires
The growing emphasis on environmental sustainability has led prominent tire manufacturers to invest in the development of green tires. For instance, Goodyear Tire and Rubber showcased its new tire concept, Oxygene at the 2018 Geneva International Motor Show. The concept comprises of a unique tread design that absorbs and circulates moisture and water from the road surface to promote photosynthesis. Similarly, other tire manufacturers are introducing green tires that have minimal rolling resistance and offer better fuel efficiencies. Such product innovations will have a positive impact on the growth of the global automotive high-performance tires market during the forecast period.
“Innovations in automotive high-performance tires market and developments in tire retreading market will further boost market growth during the forecast period”, says a senior analyst at Technavio.
Register for a free trial today and gain instant access to 17,000+ market research reports.
Global Automotive High-Performance Tires Market: Segmentation Analysis
This market report segments the global automotive high-performance tires market by application (sports cars and others) and geography (Americas, APAC, and EMEA).
The EMEA region led the market in 2018, followed by the Americas and APAC respectively. During the forecast period, the EMEA region is expected to maintain its dominance over the market. This is due to the growing demand for high-performance vehicles in Europe.
Technavio’s sample reports are free of charge and contain multiple sections of the report, such as the market size and forecast, drivers, challenges, trends, and more.
Some of the key topics covered in the report include:
Five Forces Analysis
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
View source version on businesswire.com:https://www.businesswire.com/news/home/20200210005299/en/
CONTACT: Technavio Research
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
INDUSTRY KEYWORD: AUTOMOTIVE TIRES & RUBBER
SOURCE: Technavio Research
Copyright Business Wire 2020.
PUB: 02/10/2020 04:00 AM/DISC: 02/10/2020 04:01 AM