Key vendors are using nanotechnology to enhance their products and increase sales
Technavio, a company that develops over 2000 pieces of research every year and covers more than 500 technologies across 80 countries, has announced the top five leading vendors for global automotive racing slicks market in their latest research report. This report also lists 4 other prominent vendors who are expected to contribute to this market’s growth between 2016-2020.
To identify the top vendors, Technavio’s market research analysts have taken into account the revenue generated by the sales wide range of products to various end-users.
- OEMs: OEMs use these tires for their racing events, organized for selected models racing events.
- Aftermarket The aftermarket for racing slicks consists of supplying replacement racing tires in racing series.
This Technavio report, under automotive manufacturing vertical, is based on the synthesis, analysis, and interpretation of information about the global automotive racing slicks market collected from specialized sources. The analysts have derived insights using a mix of primary and secondary research with an aim to provide a holistic picture of the market.
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Competitive vendor landscape
The competition in the market is maintained by the established players and the range of products that they offer. The manufacturers also operate in the racing slick segment with a wide range of ultra-performance tire portfolios. The companies are marketing their products based on end-users, vehicle racing, and geography to sustain the competition in the market. Vendors are participating various in competitive races and international racing championships through sponsorships to increase their brand image and attract more consumers. They are competing on the basis of quality of products, packaging standards, and on-time delivery. Tire manufacturers are implementing cost-cutting strategies to reduce their input costs and improve profitability.
“The vendors are integrating nanotechnology to enhance head-resistance in tires and increase their revenues. This technology reduces wear and tear and enables these tires to operate in a wide range of temperatures with superior heat resistance. The use of new materials like Nanoprene helps to reduce wear and tear in automobile tires,” says Siddharth J, a lead analyst at Technavio for research on automotive manufacturing.
Top five vendors in the automotive racing slicks market space
Bridgestone
Bridgestone manufactures and supplies tires and rubber products. It manufactures and supplies tires and tubes for passenger cars, construction and mining vehicles, industrial machinery, trucks and buses, agricultural machinery, aircraft, motorcycles, and scooters. Recently, the company announced that it has extended its Battlax range of race, touring, sports, and adventure motorcycle tires with the launch of the Battlax Racing Street RS10, the Battlax Adventure A40, and Battlax Sport Touring T30 EVO.
Key products: Racing Battlax V02 and Kart racing slicks.
Pirelli
The company manufactures and markets a wide range of tires and related services for vehicles, including motorcycles, industrial vehicles, F1 race cars, as well as buses, trucks, SUVs, agricultural equipment, and commercial vehicles. Recently, the company announced the launch of Diablo Supercorsa SP tires for the Yamaha YZF-R1 motorbike.
Key products: Diablo and P Zero.
Continental
Continental manufactures, develops, and sells passenger cars, light trucks, industrial tires, and related products. The company also specializes in tachographs, brake systems, tires, automotive safety, powertrain components, chassis components, and other related parts for the automotive and transportation industries.
Key products: ContiTrack, ContiRace Attack slick, and DP racing slicks.
Hankook
The company manufactures, recycles, processes, and markets automotive tires, tubes, and parts in South Korea and internationally. Recently, it announced that it will revive its Formula Drift motorsports activities for the 2015 Formula Drift. Accordingly, it will provide its high-performance Ventus R-S3 tire to Hankook’s Formula Drift winners throughout the competition.
Key products: Ventus F200 and Ventus Z214.
Michelin
Michelin manufactures, distributes, markets and sells a broad range of tires. It offers a variety of tires for cars, vans, trucks, earthmovers, aircraft, motorcycles, construction and mining equipment, farm machinery, and subway trains. It also manufactures of aircraft tires, agricultural equipment tires, navigation systems, earthmoving equipment tires, motorcycle tires, maps and guides.
Key products: Pilot Sport GT slick, Power slick ultimate, and Power slick EVO.
Other prominent vendors in this market include Cooper Tire and Rubber Company, Kumho Tire, Toyo Tire & Rubber, and Yokohama Rubber.
A more detailed analysis is available in the Technavio report, Global Automotive Racing Slicks Market 2016-2020. Technavio also customizes reports by other regions and specific segments upon request.
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