Press Release

Europe UHP Tire Market to Cross $ 15 Billion by 2023

Rising demand for high performance vehicles and growing preference of automakers for UHP Tries to Fuel UHP Tire Market in Europe through 2023

According to TechSci Research report, “Europe Ultra High Performance (UHP) Tire Market By Country, Competition Forecast & Opportunities, 2013 – 2023”, UHP tire market in Europe is projected to cross $ 15 billion by 2023.  Anticipated growth in Europe UHP tire market can be attributed to growing preference of consumers towards tires that can provide better comfort even at high speed and over bumpy areas, while ensuring enhanced safety. Additionally, rising technological advancements in tire manufacturing processes has allowed tire manufacturers to offer UHP tires for all the seasons, which is further expected to positively influence the market over the next five years. Pirelli is the most recognized UHP tire manufacturer across the Europe as more than 23% of the respondents expressed knowledge of brand in a ‘Voice of Consumer’ survey conducted by TechSci Research. Moreover, Pirelli grabbed the highest satisfaction level among customers across Europe in terms of lifetime, vehicle compatibility and performance attribute of UHP tires.

Browse 20 market data Tables and 65 Figures spread through 103 Pages and an in-depth TOC on "Europe UHP Tire Market"

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UHP tires with a speed rating of “V” are the most popular in Europe as most of the low level hatchbacks and sedans are equipped with V rated tires. Earlier, UHP tires were being specifically installed on high-end sports cars like Porsche, Lamborghini, etc., or only drive enthusiasts would invest in high priced UHP tires, however, that is not the case today, the consumer base for UHP tires has significantly broadened since then.  Summer & All-Season tires are the most preferred tire types for UHP tires across Europe. The replacement tires are likely to dominate Europe UHP tire market, on account of shorter replacement cycles of these tires as compared to standard tires. A large demand for UHP Tires emanates from Germany and the UK, on the back of huge fleet size of performance vehicles, SUVs and CUVs in both of these countries.

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Michelin, Pirelli, Bridgestone, Goodyear and Continental are few of the market leaders in Europe UHP tire market. “Increasing inclination of consumers as well as automakers towards sports cars, along with growing preference of car manufacturers towards UHP tires, is expected to have a huge positive impact on Europe UHP tire market in the coming years. Moreover, rising demand for performance vehicles due to better ride quality and increasing consumer awareness about tire safety would significantly boost UHP tire sales during the forecast period.” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based global management consulting firm.

Europe Ultra High Performance (UHP) Tire Market By Country, Competition Forecast & Opportunities, 2013 – 2023” has analyzed the potential of UHP tire market in Europe, and provides statistics and information on market sizes, shares and trends. The report will suffice in providing the intending clients with cutting-edge market intelligence and help them in taking sound investment decisions. Besides, the report also identifies and analyzes emerging trends along with essential drivers and key challenges faced by Europe UHP tire market.

 

About TechSci Research

TechSci Research is a leading Europe market research firm publishing premium market research reports. Serving 700 Europe clients with more than 600 premium market research studies, TechSci Research is serving clients across 11 different industrial verticals. TechSci Research specializes in research based consulting assignments in high growth and emerging markets, leading technologies and niche applications. Our workforce of more than 100 fulltime Analysts and Consultants employing innovative research solutions and tracking Europe and country specific high growth markets helps TechSci clients to lead rather than follow market trends.

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