US 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, and Forecast, 2023 - 2030

The US Racing Tires Market size is expected to reach $3.5 billion by 2030, rising at a market growth of 4.4% CAGR during the forecast period.

The racing tires market in the United States is a dynamic and thriving sector that caters to a diverse range of motorsport enthusiasts, professionals, and teams. With a rich history deeply embedded in American culture, motorsports such as NASCAR, IndyCar, drag racing, and road course competitions have fueled the demand for high-performance racing tires nationwide. One of the key drivers of the racing tires market is the passion and enthusiasm of racing enthusiasts. With the adrenaline rush of oval track racing or the precision required in road course events, participants and spectators demand top-notch tires that deliver superior performance, durability, and safety.

In the United States, several prominent manufacturers dominate the racing tires market, including Goodyear, Michelin, Hoosier Racing Tire, and Pirelli. These companies offer various tire options tailored to specific racing disciplines, surface conditions, and vehicle configurations. From slick tires optimized for maximum grip on dry asphalt to treaded tires engineered to excel in wet or variable conditions, the diversity of products available reflects the multifaceted nature of motorsports in the U.S.

However, COVID-19 has significantly impacted the U.S. racing tires market, disrupting events, delaying racing seasons, and causing supply chain disruptions. The pandemic postponed or canceled numerous racing events, including iconic races like the Indianapolis 500 and the Daytona 500, resulting in reduced demand for racing tires. Moreover, restrictions on travel and social gatherings hampered the ability of teams and spectators to participate in and attend racing events, further dampening industry activity.

Market Trends

Rising popularity of racing-inspired vehicles

In recent years, the racing tires market in the United States has witnessed a remarkable surge in the popularity of racing-inspired vehicles. One of the key drivers behind the rising popularity of racing-inspired vehicles is the thrill and adrenaline rush associated with high-speed driving experiences. Motorsports have always held a special allure for enthusiasts, offering an exciting blend of speed, skill, and competition. As a result, many Americans are drawn to vehicles that embody the spirit of racing, featuring sleek designs, powerful engines, and advanced performance capabilities.

Moreover, the influence of professional racing events like NASCAR and Formula 1 cannot be overstated. These events attract millions of viewers and serve as a powerful marketing platform for automotive manufacturers and tire suppliers. The exposure gained from participating in or sponsoring these events significantly boost the visibility and appeal of racing-inspired vehicles and products, including high-performance racing tires.

Additionally, advancements in automotive technology have made it easier for manufacturers to produce racing-inspired vehicles that offer impressive performance on both the track and the road. According to Select USA, international automakers produced 5 million vehicles in the United States in 2020. From aerodynamic enhancements to lightweight materials and advanced suspension systems, these vehicles are designed to deliver an exhilarating driving experience that appeals to enthusiasts of all ages.

Furthermore, the rise of social media and online communities has facilitated the spread of racing culture and enthusiast groups, further fueling the demand for racing-inspired vehicles and accessories. Platforms like Instagram, YouTube, and enthusiast forums allow enthusiasts to share their passion for motorsports, showcase their vehicles, and connect with like-minded individuals. Hence, the surge in popularity of racing-inspired vehicles in the United States is driven by the thrill of high-speed driving, the influence of professional racing events, advancements in automotive technology, and the amplifying effect of social media and online communities.

Increasing demand for sustainable racing tire

The U.S. racing tires market is experiencing a notable shift in demand towards sustainable racing tires, reflecting a broader global trend towards environmental consciousness and responsible consumption. One of the primary drivers behind the surge in demand for sustainable racing tires is the growing recognition of the significant environmental footprint associated with traditional tire manufacturing and usage in motorsports. Furthermore, heightened consumer awareness and preferences for sustainable products influence purchasing decisions within the racing community.

Racing teams, event organizers, and individual drivers in the U.S. increasingly seek tires that align with their sustainability values and demonstrate a commitment to reducing their environmental impact. The adoption of sustainable racing tires is also driven by regulatory initiatives and industry collaborations to promote environmental sustainability within motorsports. Governing bodies and organizations governing racing events are implementing regulations and guidelines to encourage using sustainable materials and technologies in tires, incentivizing manufacturers to innovate and invest in eco-friendly solutions.

In response to the growing demand for sustainable racing tires, manufacturers are ramping up their research and development efforts to create high-performance tires that meet the stringent requirements of competitive racing while minimizing their environmental footprint. Therefore, the U.S. racing tires market is transforming towards sustainability, driven by environmental awareness, consumer preferences, regulatory initiatives, and manufacturer innovation.

Competition Analysis

The racing tires market in the United States is a vibrant and competitive industry driven by innovation, technology, and a passion for speed. One of the most renowned names in the racing tires market is Goodyear Tire & Rubber Company. With a legacy spanning over a century, Goodyear has established itself as a global leader in tire manufacturing. Goodyear's tires are synonymous with performance and reliability. The company's extensive research and development efforts have led to the creation of cutting-edge racing tire technologies catering to various motorsport disciplines, including NASCAR, drag racing, and road racing. Goodyear's presence in the U.S. racing scene is formidable, with its tires being a common sight on tracks nationwide.

Hoosier Racing Tire Corporation is a leading manufacturer of racing tires in the United States, catering primarily to the grassroots racing community. Founded in the heart of the Midwest, Hoosier has built a reputation for producing high-quality tires tailored to the needs of amateur racers and weekend warriors. Hoosier offers a wide range of tire options, from dirt oval racing to drag strips, to deliver consistent performance and durability on various racing surfaces. With a strong distribution network and a loyal customer base, Hoosier Racing Tire Corporation remains a formidable player in the competitive landscape of American motorsports.

Another key player in the U.S. racing tires market is Michelin. Hailing from France, Michelin boasts a rich heritage in tire manufacturing and a strong presence in motorsports worldwide. In the United States, Michelin's racing tires are highly regarded for their exceptional grip, durability, and performance across different racing categories. Whether it's endurance racing, rallycross, or sports car racing, Michelin's tires have earned the trust of professional drivers and teams, making them a popular choice in the competitive landscape of American motorsports.

Pirelli is another prominent name in the U.S. racing tires market, known for its Italian craftsmanship and dedication to performance. Renowned for its iconic P Zero racing tires, Pirelli has a strong presence in premium motorsports series such as Formula One and GT racing. In the United States, Pirelli's tires are favored by discerning drivers and teams seeking the ultimate performance and precision on the track. With a focus on innovation and technological advancement, Pirelli continues to push the boundaries of racing tire design, setting new standards in the industry. As technology continues to evolve and the demand for high-performance tires grows, the future of the racing tires market in the United States promises to be exciting and dynamic, driven by a shared passion for speed and competition.

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.)

US 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

Chapter 1. Market Scope & Methodology
1.1 Market Definition
1.2 Objectives
1.3 Market Scope
1.4 Segmentation
1.4.1 US Racing Tires Market, by Tire Type
1.4.2 US Racing Tires Market, by Application
1.4.3 US Racing Tires Market, by Distribution Channel
1.5 Methodology for the research

Chapter 2. Market Overview
2.1 Introduction
2.1.1 Overview
2.1.1.1 Market Composition and Scenario
2.2 Key Factors Impacting the Market
2.2.1 Market Drivers
2.2.2 Market Restraints
2.2.3 Market Opportunities
2.2.4 Market Challenges
2.2.5 Market Trends
2.3 Porter Five Forces Analysis

Chapter 3. Strategies Deployed in Racing Tires Market

Chapter 4. US Racing Tires Market
4.1 US Racing Tires Market, By Tire Type
4.2 US Racing Tires Market, By Application
4.3 US Racing Tires Market, By Distribution Channel

Chapter 5. Company Profiles
5.1 Bridgestone Corporation
5.1.1 Company Overview
5.1.2 Financial Analysis
5.1.3 Segmental Analysis
5.1.4 Recent strategies and developments:
5.1.4.1 Product Launches and Product Expansions:
5.1.5 SWOT Analysis
5.2 Continental AG
5.2.1 Company Overview
5.2.2 Financial Analysis
5.2.3 Segmental and Regional Analysis
5.2.4 Research & Development Expense
5.2.5 Recent strategies and developments:
5.2.5.1 Partnerships, Collaborations, and Agreements:
5.2.5.2 Product Launches and Product Expansions:
5.2.6 SWOT Analysis
5.3 Michelin
5.3.1 Company Overview
5.3.2 Financial Analysis
5.3.3 Segmental and Regional Analysis
5.3.4 SWOT Analysis
5.4 Hankook Tire & Technology
5.4.1 Company Overview
5.4.2 Financial Analysis
5.4.3 Regional Analysis
5.4.4 Recent strategies and developments:
5.4.4.1 Partnerships, Collaborations, and Agreements:
5.4.4.2 Acquisition and Mergers:
5.4.5 SWOT Analysis
5.5 Pirelli & C. S.p.A.
5.5.1 Company Overview
5.5.2 Financial Analysis
5.5.3 Regional Analysis
5.5.4 Research & Development Expenses
5.5.5 Recent strategies and developments:
5.5.5.1 Partnerships, Collaborations, and Agreements:
5.5.5.2 Product Launches and Product Expansions:
5.5.6 SWOT Analysis
5.6 The Goodyear Tire & Rubber Company
5.6.1 Company Overview
5.6.2 Financial Analysis
5.6.3 Segmental and Regional Analysis
5.6.4 Research & Development Expenses
5.6.5 Recent strategies and developments:
5.6.5.1 Partnerships, Collaborations, and Agreements:
5.6.6 SWOT Analysis
5.7 The Yokohama Rubber Co., Ltd.
5.7.1 Company Overview
5.7.2 Financial Analysis
5.7.3 Segmental Analysis
5.7.4 Recent strategies and developments:
5.7.4.1 Partnerships, Collaborations, and Agreements:
5.7.5 SWOT Analysis
5.8 Zhongce Rubber Group Co., Limited
5.8.1 Company Overview
5.8.2 SWOT Analysis
5.9 Nexen Tire
5.9.1 Company Overview
5.9.2 Financial Analysis
5.9.3 SWOT Analysis
5.10. Maxxis International–USA (Cheng Shin Rubber Industry Co.)
5.10.1 Company Overview
5.10.2 SWOT Analysis

TABLE 1 US Racing Tires Market, 2019 - 2022, USD Million
TABLE 2 US Racing Tires Market, 2023 - 2030, USD Million
TABLE 3 US Racing Tires Market, By Tire Type, 2019 - 2022, USD Million
TABLE 4 US Racing Tires Market, By Tire Type, 2023 - 2030, USD Million
TABLE 5 US Racing Tires Market, By Application, 2019 - 2022, USD Million
TABLE 6 US Racing Tires Market, By Application, 2023 - 2030, USD Million
TABLE 7 US Racing Tires Market, By Distribution Channel, 2019 - 2022, USD Million
TABLE 8 US Racing Tires Market, By Distribution Channel, 2023 - 2030, USD Million
TABLE 9 Key Information – Bridgestone Corporation
TABLE 10 Key Information – Continental AG
TABLE 11 Key Information – Michelin
TABLE 12 Key Information – Hankook Tire & Technology
TABLE 13 Key Information – Pirelli & C. S.p.A.
TABLE 14 Key Information – The Goodyear Tire & Rubber Company
TABLE 15 Key Information – The Yokohama Rubber Co., Ltd.
TABLE 16 Key Information – Zhongce Rubber Group Co., Limited
TABLE 17 Key Information – Nexen Tire
TABLE 18 Key Information – Maxxis International–USA

List of Figures
FIG 1 Methodology for the research
FIG 2 US Racing Tires Market, 2019 - 2030, USD Million
FIG 3 Key Factors Impacting Racing Tires Market
FIG 4 Porter’s Five Forces Analysis – Racing Tires Market
FIG 5 US Racing Tires Market share, By Tire Type, 2022
FIG 6 US Racing Tires Market share, By Tire Type, 2030
FIG 7 US Racing Tires Market, By Tire Type, 2019 - 2030, USD Million
FIG 8 US Racing Tires Market share, By Application, 2022
FIG 9 US Racing Tires Market share, By Application, 2030
FIG 10 US Racing Tires Market, By Application, 2019 - 2030, USD Million
FIG 11 US Racing Tires Market share, By Distribution Channel, 2022
FIG 12 US Racing Tires Market share, By Distributeion Channel, 2030
FIG 13 US Racing Tires Market, By Distribution Channel, 2019 - 2030, USD Million
FIG 14 SWOT Analysis: Bridgestone Corporation
FIG 15 Recent strategies and developments: Continental AG
FIG 16 SWOT Analysis: Continental AG
FIG 17 SWOT Analysis: Michelin
FIG 18 Recent strategies and developments: Hankook Tire & Technology
FIG 19 SWOT Analysis: Hankook Tire & Technology
FIG 20 Recent strategies and developments: Pirelli & C. S.p.A.
FIG 21 SWOT Analysis: Pirelli & C. S.p.A.
FIG 22 SWOT Analysis: The Goodyear Tire & Rubber Company
FIG 23 SWOT Analysis: The Yokohama Rubber Co., Ltd.
FIG 24 SWOT Analysis: Zhongce Rubber Group Co., Limited
FIG 25 SWOT Analysis: Nexen Tire
FIG 26 SWOT Analysis: Maxxis International USA