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

Market Report Description

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 Million 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.

Free Valuable Insights: The Racing Tires Market is Predict to reach USD 15.8 Billion by 2030, at a CAGR of 5.3%

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.)

North America Racing Tires Market Report Segmentation

By Tire Type

• Racing Slick Tires
• Racing Treaded Tires

By Application

• Auto Racing Tires
• Motorcycle Racing Tires

By Distribution Channel

• Replacement Tires
• OEMs

By Country

• US
• Canada
• Mexico
• Rest of North America