Racing Tire Market Report 2025 (Global Edition)

Global Racing Tire Market Report 2025 Market Size Split by Application (Auto Racing Tires, Motorcycle Racing Tires), by Distribution Channel (Replacement Tires, OEMs), by Tire Type (Racing Slick Tires...

Racing Tire Market Report Description

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Competitive Landscape of the Racing Tire Market

The racing tire market features intense competition among key players such as Michelin, Pirelli, Bridgestone, and Goodyear. These companies continuously innovate to offer high-performance tires for various racing categories, including Formula 1, NASCAR, and endurance racing. Market dynamics include technological advancements, strategic partnerships with racing teams, and a focus on sustainability and performance.

Racing Tire Industry News 

In December 2019, The FIA has chosen Goodyear as the official tire supplier for the World Touring Car Cup. 

(Source: https://news.goodyear.eu/fia-selects-goodyear-as-official-tyre-supplier-to-the-world-touring-car-cup/ )

In December 2022, Yokohama Rubber will provide racing tires for the 2023 SUPER FORMULA races, featuring a sustainable material content ratio of 33%. 

(Source: https://www.y-yokohama.com/release/?id=3924&lang=en )

Top Companies Market Share in Racing Tire Industry: (In no particular order of Rank)

• Michelin
• Pirelli
• Bridgestone
• Goodyear
• Continental
• Hankook Tire
• Yokohama Rubber
• Dunlop
• Toyo Tires
• Cooper Tire
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*List of Second Tier Companies, List of Third Tier/ Start-up Companies (Inquire with sales executive) Request Any Company Profile for Preview Purpose OR Data Validation!

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Regional Analysis of Racing Tire

Which Region Dominates the Racing Tire Market in 2024?

According to Cognitive Market Research, North America continues to dominate the racing tire market due to its rich motorsports heritage, strong presence of major racing series such as NASCAR, IndyCar, and IMSA, and the high demand for racing tires among professional racing teams and enthusiasts. The region's advanced automotive technology, coupled with substantial investments in motorsports infrastructure and events, further solidify its leading position in the global racing tire market. Additionally, North America benefits from the presence of key racing tire manufacturers and a large consumer base of motorsports enthusiasts, contributing to its market dominance and steady growth trajectory.

Which Region is Expanding at the Fastest CAGR?

On the other hand, Asia Pacific showcases the fastest Compound Annual Growth Rate (CAGR) in the racing tire market, fueled by rapid industrialization, increasing participation in motorsports competitions, and the rising demand for high-performance vehicles across the region. Countries such as China, Japan, South Korea, and India are witnessing a surge in motorsports enthusiasts and the development of new racing circuits and events, leading to heightened demand for racing tires. The growing popularity of motorsports in Asia Pacific, coupled with the region's expanding automotive sector and technological advancements, presents significant opportunities for market expansion and the emergence of new players in the racing tire industry.

The current report Scope analyzes Racing Tire Market on 5 major region Split (In case you wish to acquire a specific region edition (more granular data) or any country Edition data then please write us on info@cognitivemarketresearch.com

• North America (United States, Canada, Mexico)
• Europe (United Kingdom, France, Germany, Italy, Russia, Spain, Sweden, Denmark, Netherlands, Switzerland, Belgium)
• Asia-Pacific (China, Japan, Korea, India, Australia, Philippines, Singapore, Malaysia, Thailand, Indonesia, Rest of APAC)
• South America (Brazil, Argentina, Colombia, Peru, Chile, Rest of South America)
• Middle East and Africa (Saudi Arabia, Turkey, Nigeria, UAE, Egypt, South Africa, GCC Countries, Rest of MEA)

The above graph is for illustrative purposes only.

North America Racing Tire Market

According to Cognitive Market Research, the global Racing Tire Market size was estimated at USD 11254.2 Million out of which North America held the major market of more than 40% of the global revenue with a market size of USD 4501.68 million in 2024 and will grow at a compound annual growth rate (CAGR) of 4.0 % from 2024 to 2031. 

The increase is attributed to the motorsports industry's growth, the enthusiasm of automotive enthusiasts, and the skilled public. In North America's Racing Tire Market, the Auto Racing Tires segment garners significant popularity, driven by robust demand from diverse racing events and motorsports competitions held throughout the region. This segment's appeal lies in its ability to cater to the specific requirements of high-performance racing vehicles, enhancing traction, grip, and overall performance on the race track. The strong demand for Auto Racing Tires underscores North America's vibrant motorsports culture, where automotive enthusiasts and skilled professionals actively participate and engage in various racing activities. As the motorsports industry continues to thrive and attract a dedicated audience, the Auto Racing Tires segment remains a prominent choice among racing teams, drivers, and organizations seeking top-tier performance and reliability in competitive racing environments.

• According to Cognitive Market Research, the US had a major share in the Racing Tire Market with a market size of USD 3551.83 million in 2024 and is projected to grow at a CAGR of 3.8 % during the forecast period. The demand is amplified by the nation's Motorsports industry and Automotive enthusiasts. 
• The Canada Racing Tire Market had a market share of USD 540.20 million in 2024 and is projected to grow at a CAGR of 4.8 % during the forecast period. Canada's skilled people and public interest contribute to increased usage of Racing Tire.
• The Mexico Racing Tire Market is projected to witness growth at a CAGR of 4.5 % during the forecast period with a market size of USD 409.65 million in 2024.

Europe Racing Tire Market

According to Cognitive Market Research, with a market value of USD 11254.2 million in 2024 and projected to expand at a compound annual growth rate (CAGR) of 4.3 % from 2024 to 2031. Europe accounted for a share of over 30% of the global market size of USD 3376.26 million. 

The surge can be attributed to the high-performance vehicles market and the motorsports culture. Within the Racing Tire Market in Europe, the Motorcycle Racing Tires segment commands notable popularity, which mirrors the region's diverse motorsports culture and the fervor of racing enthusiasts. This segment's prominence underscores its ability to meet the demanding needs of high-performance motorcycles used in various racing competitions and events across Europe. The popularity of Motorcycle Racing Tires highlights the region's deep-rooted passion for motorsports and the significant role that motorcycles play in the racing landscape. With a dedicated community of racing enthusiasts and a thriving motorsports scene, Europe remains a key market for Motorcycle Racing Tires, catering to the performance requirements and preferences of riders and teams engaged in competitive motorcycle racing.

• The United Kingdom Racing Tire Market had a market share of USD 567.21 million in 2024 and is projected to grow at a CAGR of 5.1 % during the forecast period. In the UK, Racing Tire sales witness an upswing due to the nation's Motorsports culture and events. 

• The France Racing Tire Market is projected to witness growth at a CAGR of 3.5 % during the forecast period, with a market size of USD 310.62 million in 2024.
• According to Cognitive Market Research, the Germany Racing Tire Market size was valued at USD 668.50 million in 2024 and is projected to grow at a CAGR of 4.5 % during the forecast period. In Germany, Racing Tire sales surge due to the nation's High-performance vehicles market and awareness. 
• The Italy Racing Tire Market is projected to witness growth at a CAGR of 3.7% during the forecast period with a market size of USD 290.36 million in 2024.
• The Russia Racing Tire Market is projected to witness growth at a CAGR of 3.3% during the forecast period with a market size of USD 523.32 million in 2024.
• The Spain Racing Tire Market is projected to witness growth at a CAGR of 3.4% during the forecast period with a market size of USD 276.85 million in 2024.
• The Luxembourg Racing Tire Market is projected to witness growth at a CAGR of 4.4% during the forecast period with a market size of USD 104.66 million in 2024.
• The Portugal Racing Tire Market is projected to witness growth at a CAGR of 4.1% during the forecast period, with a market size of USD 70.90 million in 2024.
• The Greece Racing Tire Market is projected to witness growth at a CAGR of 4.6% during the forecast period with a market size of USD 40.52 million in 2024.
• The Rest of Europe Racing Tire Market is projected to witness growth at a CAGR of 3.0% during the forecast period with a market size of USD 523.32 million in 2024.

 

Asia Pacific Racing Tire Market

According to Cognitive Market Research, the global Racing Tire Market size was estimated at USD 11254.2 Million out of which Asia Pacific held the market of around 23% of the global revenue with a market size of USD 2588.47 million in 2024 and will grow at a compound annual growth rate (CAGR) of 7.8 % from 2024 to 2031. 

The increase is attributed to the automotive industry's growth, the flourishing racing and motorsports scenes. In the Asia-Pacific Racing Tire Market, the Auto Racing Tires segment emerges as the favored choice, fueled by the rising enthusiasm and investment in auto racing events and championships throughout the region's countries. This segment's popularity is rooted in its ability to cater to the demanding needs of high-performance vehicles used in various racing competitions, enhancing traction, grip, and overall performance on the racetrack. The growing interest in auto racing reflects Asia-Pacific's evolving motorsports landscape and the increasing participation of automotive enthusiasts, racing teams, and sponsors in prestigious racing events. As the automotive and racing sectors continue to thrive, the Auto Racing Tires segment remains a key component driving the region's passion for high-speed and adrenaline-fueled racing experiences.

• According to Cognitive Market Research, the China Racing Tire Market size was valued at USD 1164.81 million in 2024 and is projected to grow at a CAGR of 7.3 % during the forecast period. Racing Tire sales surge in China due to the nation's Racing scene and motorsports scene.

• The Japan Racing Tire Market is projected to witness growth at a CAGR of 6.3 % during the forecast period with a market size of USD 357.21 million in 2024.
• The India Racing Tire Market had a market share of USD 310.62  million in 2024 and is projected to grow at a CAGR of 9.6 % during the forecast period. The demand is augmented by India's Automotive industry and increase in the public interest.
• The South Korea Racing Tire Market is projected to witness growth at a CAGR of 6.9% during the forecast period with a market size of USD 258.85 million in 2024.
• The Australia Racing Tire Market is projected to witness growth at a CAGR of 7.5% during the forecast period with a market size of USD 134.60 million in 2024.
• The South East Asia Racing Tire Market is projected to witness growth at a CAGR of 8.8% during the forecast period, with a market size of USD 178.60 million in 2024.
• The Rest of Asia Pacific Racing Tire Market is projected to witness growth at a CAGR of 7.6% during the forecast period with a market size of USD 183.78 million in 2024.

 

South America Racing Tire Market

According to Cognitive Market Research, the global Racing Tire Market size was estimated at USD 11254.2 Million out of which Latin America market of more than 5% of the global revenue with a market size of USD 562.71 million in 2024 and will grow at a compound annual growth rate (CAGR) of 5.2 % from 2024 to 2031. The rise can be attributed to the proliferation of events and the motorsports culture. In the Latin America Racing Tire Market, the Motorcycle Racing Tires segment enjoys significant popularity, fueled by a substantial market share derived from the numerous motorcycle racing events and competitions held across the region. This segment's appeal lies in its ability to cater to the specific requirements of high-performance motorcycles used in various racing disciplines, enhancing traction, grip, and overall performance on the race track. The strong demand for Motorcycle Racing Tires underscores Latin America's vibrant motorsports culture, where motorcycle racing events garner substantial attention and participation from enthusiasts and professional riders alike. As motorsports continue to thrive and evolve in the region, the Motorcycle Racing Tires segment remains a pivotal component, meeting the performance needs and preferences of riders and teams engaged in competitive motorcycle racing across Latin America.

• According to Cognitive Market Research, the Brazil Racing Tire Market size was valued at USD 240.84 million in 2024 and is projected to grow at a CAGR of 5.8 % during the forecast period. Racing Tire sales flourish in Brazil due to the nation's interest in the motorsport and organising the events.

• The Argentina Racing Tire Market had a market share of USD 94.54 million in 2024 and is projected to grow at a CAGR of 6.1 % during the forecast period. The demand is augmented by Argentina's commitment to the motorsport and culture. 
• The Colombia Racing Tire Market is projected to witness growth at a CAGR of 5.0% during the forecast period, with a market size of USD 50.08 million in 2024.
• The Peru Racing Tire Market is projected to witness growth at a CAGR of 5.4% during the forecast period with a market size of USD 46.14 million in 2024.
• The Chile Racing Tire Market is projected to witness growth at a CAGR of 5.5% during the forecast period, with a market size of USD 40.52 million in 2024.
• The Rest of Latin America Racing Tire Market is projected to witness growth at a CAGR of 4.3% during the forecast period with a market size of USD 90.60 million in 2024.

Middle East Racing Tire Market

According to Cognitive Market Research, the global Racing Tire Market size was estimated at USD 11254.2 Million out of which Middle East and Africa held the major market of around 2% of the global revenue with a market size of USD 225.08 million in 2024 and will grow at a compound annual growth rate (CAGR) of 5.5 % from 2024 to 2031. The increase is attributed to the automotive performance sector's growth and the enthusiasm of motorsports enthusiasts. In the Racing Tire Market of the Middle East and Africa region, the Auto Racing Tires segment emerges as the preferred option, driven by the rising participation and interest in auto racing and motorsports activities. This segment's popularity stems from its ability to meet the rigorous demands of high-performance vehicles used in various racing events, enhancing traction, grip, and overall performance on the race track. The growing engagement in auto racing and motorsports in the Middle East and Africa reflects the region's evolving motorsports landscape and the increasing number of enthusiasts and professional teams involved in competitive racing. As the automotive performance sector continues to expand, the Auto Racing Tires segment remains a key element in meeting the performance requirements and preferences of racing enthusiasts in the Middle East and Africa.

• According to Cognitive Market Research, the GCC Countries Racing Tire Market size was valued at USD 96.34 million in 2024 and is projected to grow at a CAGR of 6.3 % during the forecast period. Racing Tire sales flourish in the GCC Countries due to the region's Automotive performance sector and advancements.

• The Egypt Racing Tire Market is projected to witness growth at a CAGR of 5.8 % during the forecast period with a market size of USD 23.63 million in 2024.
• The South Africa Racing Tire Market is projected to witness growth at a CAGR of 6.5 % during the forecast period, with a market size of USD 35.56 million in 2024. Racing Tire sales flourish in the South Africa due to the region's Motorsports enthusiasts and investments.
• The Turkey Racing Tire Market is projected to witness growth at a CAGR of 5.0% during the forecast period with a market size of USD 19.36 million in 2024.
• The Nigeria Racing Tire Market is projected to witness growth at a CAGR of 4.6% during the forecast period, with a market size of USD 23.63 million in 2024.
• The Rest of MEA Racing Tire Market is projected to witness growth at a CAGR of 4.5% during the forecast period with a market size of USD 26.56 million in 2024.

Racing Tire Market Analysis

Racing Tire Application Segment Analysis

According to Cognitive Market Research, the auto racing tires segment is renowned for its high-performance slick tires designed specifically for circuit racing. These tires excel in providing exceptional speed and grip on smooth track surfaces, ensuring maximum traction and cornering capabilities for race cars. Their advanced design and specialized compounds contribute significantly to the segment's reputation as the fastest in the racing tire market.

In contrast, motorcycle racing tires represent the largest segment in the racing tire market. These tires are crucial for endurance racing and superbike competitions, where they must withstand intense speeds, heavy loads, and prolonged track use. Their larger size compared to standard motorcycle tires provides enhanced stability and durability, allowing riders to push the limits of speed and performance in racing events.

• Auto Racing Tires
• Motorcycle Racing Tires

The above Chart is for representative purposes and does not depict actual sale statistics. Access/Request the quantitative data to understand the trends and dominating segment of Racing Tire Industry. Request a Free Sample PDF!

Racing Tire Distribution Channel Segment Analysis

According to Cognitive Market Research, the fastest-growing segment in the racing tire market is OEMs (Original Equipment Manufacturers). OEM racing tires are specifically designed and produced for use in high-performance vehicles directly from the factory, ensuring optimal compatibility and performance. This segment experiences rapid growth due to the increasing demand for high-quality, performance-driven tires from automotive manufacturers and racing teams.

On the other hand, the largest segment in the racing tire market is replacement tires. These are aftermarket tires purchased by consumers to replace worn-out or damaged tires on their vehicles. The replacement tire segment caters to a wide range of vehicles, including street cars, sports cars, and racing vehicles, contributing significantly to the overall market size of racing tires.

• Replacement Tires
• OEMs

The above Graph is for representation purposes only. This chart does not depict actual Market share.

Racing Tire Tire Type Segment Analysis

According to Cognitive Market Research, the fastest-growing segment in the racing tire market is racing slick tires. These tires feature a smooth, treadless surface designed for maximum contact with the track, offering exceptional grip and speed on dry surfaces. Racing slick tires are preferred in professional motorsports events where high-performance handling and traction are critical for competitive racing.

In contrast, the largest segment in the racing tire market is racing treaded tires. These tires feature a patterned tread design that provides traction on wet or uneven surfaces, making them versatile for various racing conditions. Racing treaded tires are widely used in racing series that encounter mixed track conditions, including wet weather or off-road terrains, contributing significantly to the overall market size of racing tires.

• Racing Slick Tires
• Racing Treaded Tires

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Vinayak Bali

Senior Research Analyst at Cognitive Market Research

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