FOR IMMEDIATE RELEASE
Pressnews.biz (Press Release) Jun 4, 2014
-- World racing tire industry to grow by 8.6% in 2013 to 2018
Mumbai, India – June 3, 2014 - The global racing tire industry is slated to grow steadily at a CAGR of 8.6% in the period between 2013 and 2018, as indicated by a study on the global racing tire market conditions. According to the research conducted, raw materials like poly-butadiene rubber, carbon black, styrene-butadiene rubber, etc. of the most premium quality are utilized to manufacture these tires which best suited for racing vehicles.
This report: Global Racing Tire Market 2014-2018, studies the global racing tire market and cites market trends and challenges some of which are highlighted below.
Significant market drivers
Numerous factors encourage the global tire market, particularly the growing significance of diverse kinds of automotive racing events occurring in several areas across the world. While motororbike races, NASCAR and Formula One, are some of the popular racing events which lure the maximum sponsorships, sporting events involving high speed racing vehicles have also gained a lot of popularity among individual bikers and drivers. Consequently, many types of competitive racing events have been introduced which comprise the inclusion of smart racing vehicles like dirt bikes, SVTs and SUVs – a trend that has been one of the key drivers propelling the growth of this market segment.
Main market areas
Asia Pacific, Europe, Middle East, Africa and America are some of the nations which have emerged as the key contributors as well as the dominant players in this industry. However, the limited quantity of consumers who utilize racing tires has been the key hindrance that has been thwarting the growth of this market.
Key vendors of racing tire market
The global racing tire market works through some of its significant vendors operating throughout the world which include Goodyear Tire and Rubber Co., Pirelli & C.SpA, Apollo Tires Limited, Alliance Tire Group, Hangzhou Zhongce Rubber Co. Ltd., Sumitomo Rubber Industries Limited, to name a few.
For further insights, click here, http://www.researchonglobalmarkets.com/global-racing-tire-market-2014-2018.html
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