GreatMarketInsights

Racing Tire market size is forecast to reach $12.6 billion by 2025, growing at CAGR 4.28% during 2020-2025 owing to the increasing revenue generation from formula one racing championship. The growing number of viewership across the world opting for viewing through online channels on smartphones is set to open up new streams of revenue generation in the racing business. Apart from this the growing sponsorship in formula series is also set to buoy the racing events. These factors are analyzed to drive the racing tires market during the forecast period 2020-2025. Key Takeaways- Racing Tire Industry Outlook Auto racing tires market held the major share in 2019 and set to witness significant growth during 2020-2025 with the growing sponsorship in formula series events especially formula E championship Europe attributed to the major share of the global racing tires market owing to the region’s propriety in hosting racing events and large investments by the major automakers in this region fo...