Global Automotive Racing Slicks Market 2018-2022 | 19% CAGR Projection Over the Next Four Years | Technavio
LONDON--(BUSINESS WIRE)--Aug 20, 2018--The global automotive racing slicks market is expected to post a CAGR of nearly 19% during the period 2018-2022, according to the latest market research report by .
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Technavio has published a new market research report on the global automotive racing slicks market from 2018-2022. (Graphic: Business Wire)
A key factor driving the growth of the market is the introduction of new races in automotive racing championships. Slicks are supplied to many racing championships globally like F1, MotoGP, and NASCAR. In terms of both revenue and volume, the EMEA is the leading market for slicks as many sporting events such as F1, F3, World Endurance Championships, and MotoGP are organized in this region. EMEA also houses numerous renowned vehicle manufacturers, thereby being at the forefront of vehicle technology.
This market research report on the also provides an analysis of the most important trends expected to impact the market outlook during the forecast period. Technavio classifies an emerging trend as a major factor that has the potential to significantly impact the market and contribute to its growth or decline.
In this report, Technavio highlights telematics and connected driving for an enhanced experience as one of the key emerging trends in the global automotive racing slicks market:
Global automotive racing slicks market: Telematics and connected driving for an enhanced experience
The Internet of Things (IoT) can enhance the overall driving experience of vehicles. Most high-end vehicle manufacturers provide automobiles with enhanced GPS, sensors, and multi-function options for assisted and comfortable driving experience IoT enabled vehicles to provide preemptive assistance to drivers in terms of environmental conditions, driving suggestions, and drive monitoring.
“Vehicle manufacturers are also providing cars with telematics, which helps in better monitoring of tire performance and driving habits and gathering insights on vehicle data. Telematics in finding increased applications in public environments; for example, insurance companies are calculating premiums based on data gathered by sensors. Thus, vehicles running on semi-slick tires can help people pre-empt any obstacle during driving, thereby, ensuring drivers’ safety and better vehicle performance,” says a senior analyst at Technavio for research on automotive manufacturing.
Global automotive racing slicks market: Segmentation analysis
This market research report segments the global automotive racing slicks market by application (automobile racing and motorcycle racing), end-user (replacement slicks and OEM slicks) and geographical regions (APAC, EMEA, and the Americas).
The automobile racing segment held the largest market share in 2017, accounting for nearly 82% of the market. This application segment is expected to dominate the global market throughout the forecast period.
The Americas led the market in 2017 with a market share of nearly 44%. The region is expected to dominate the market through 2022, however, there will be a decrease in its market share.
Technavio’s sample reports are free of charge and contain multiple sections of the report such as the market size and forecast, drivers, challenges, trends, and more.
Some of the key topics covered in the report include:
Market LandscapeMarket ecosystem Market characteristics Market segmentation analysis
Market SizingMarket definition Market size and forecast
Five Forces Analysis
Geographical SegmentationRegional comparison Key leading countries
Vendor LandscapeVendors covered Vendor classification Market positioning of vendors Competitive scenario
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