Press Release

South America UHP Tire Market to Reach $ 1 Billion Mark by 2023

Growing demand for high-end cars along with various advantages of UHP tires over other types of tires to drive South America UHP tire market through 2023

According to TechSci Research report, South America Ultra High-Performance (UHP) Tire Market By Vehicle Type, By Tire Type, By Demand Category, By Country, Competition Forecast & Opportunities, 2013 - 2023”, South America UHP tire market is projected to cross $ 1 billion by 2023 on account of rising sales of premium passenger cars and motorcycles. Moreover, UHP tires can withstand high temperature and have high traction rating as well, making them a favorable choice among customers as well as the automakers in South America. Rising presence of various companies such as Michelin, Bridgestone Corporation, The Goodyear Tire & Rubber Company, etc., and their expanding operations in South America are further anticipated to intensify competition in the region’s UHP tire market over the next five years.

Browse 35 market data Figures and Tables spread through 68 Pages and an in-depth TOC on "South America Ultra High-Performance Tire Market"

Among countries, Brazil dominated South America UHP tire market with more than 50% volume shares 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 across the country. On the basis of tire type, South America UHP tire market is categorized into summer & all season and winter tires. Summer & all season tires account for a majority share in the market and the segment is expected to continue its dominance during the forecast period.

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“With rising demand for SUVs and CUVs, demand for UHP tires is also likely to increase across South America in the coming years. Moreover, demand for performance vehicles is increasing in different countries of the region due to improvement in road infrastructure, which is further likely to propel growth in South America UHP tire market through 2023. Additionally, rising inclination of automakers towards offering UHP tires in their vehicles would further steer growth in the market during forecast period.” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.

South 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 South 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 South America UHP tire market.

About TechSci Research

TechSci Research is a leading global market research firm publishing premium market research reports. Serving 700 global 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 global and country specific high growth markets helps TechSci clients to lead rather than follow market trends.



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Relevant Reports

South 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 South America Ultra High-Performance (UHP) tire market include the increasing demand for high-performance vehicles in the region, a growing automotive enthusiast culture, and the pursuit of superior handling and performance on South American roads.

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