Press Release

North America UHP Tire Market to Grow at over 12% CAGR through 2023

Growth in SUV and CUV segment coupled with enhanced safety features in UHP tires to drive North America UHP tire market through 2023

According to TechSci Research report, North America Ultra High-Performance (UHP) Tire Market By Vehicle Type, By Tire Type, By Demand Category, By Country, Competition Forecast & Opportunities, 2013 - 2023, North America UHP tire market is projected to grow at a CAGR of more than 12% during 2018 - 2023 on the back of increasing imports, exports and sales of premium passenger cars and motorcycles across the region. Additionally, higher performance and safety standards of UHP tires is further anticipated to boost North America UHP tire market over the next five years. Michelin, Bridgestone Corporation, The Goodyear Tire & Rubber Company, Continental AG, Hankook Tire Co., Ltd., are some of the major players operating in North America UHP tire market.

Browse 46 market data Figures and Tables spread through 74 Pages and an in-depth TOC on "North America Ultra High-Performance (UHP) Tire Market"

Among countries, United States dominated North America UHP tire market with more than 80% volume share in 2017. The country is anticipated to maintain its dominance during forecast period as well on the back of increasing sales of premium and utility vehicles and introduction of technologically advanced UHP tires by leading tire companies. On the basis of tire type, North America UHP tire market is categorized into summer & all season and winter tires. The former category accounts for majority share in the market due to rising demand for summer & all season tires.

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“SUV and CUV segment is gaining traction across North America, which is also propelling demand for UHP tires. Due to heavy engines in SUVs and CUVs, these vehicles come equipped with UHP tires to offer better performance as well as safety. Moreover, automakers are offering UHP tires as OE fitment, which is further positively influencing the UHP tire market in North America. Additionally, rising demand for performance vehicles would further steer growth in the region’s UHP tire market in the coming years.” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.

North America Ultra High-Performance (UHP) Tire Market By Vehicle Type, By Tire Type, By Demand Category, By Country, Competition Forecast & Opportunities, 2013 - 2023 has analyzed the potential of UHP tire market across North America, 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 North America UHP tire market.

About TechSci Research

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North America Ultra High-Performance (UHP) Tire Market By Vehicle Type (Passenger Car & Two-wheeler), By Tire Type (Summer & All Season and Winter), By Demand Category (OEM & Replacement), Competition, Forecast & Opportunities

Automotive | Nov, 2023

The major drivers for the North America Ultra High-Performance (UHP) tire market include the strong demand for high-performance vehicles, the influence of motorsport and enthusiast culture, and the continuous technological advancements in UHP tire design and manufacturing.

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