Press release
Ultra-High Performance (UHP) Tire Market Will Grow Due to Rising Demand for Luxury and High-end Vehicles | Goodyear Tire & Rubber Company, Michelin Group, Pirelli & C. S.p.A., Bridgestone
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Ultra-High Performance (UHP) tires are designed for use on high-performance vehicles. They offer superior handling, grip and traction in all driving conditions. UHP tires are made from a special compound that is designed to withstand the high temperatures generated by high-speed driving. They also feature a reinforced construction that helps to resist the forces generated by cornering and braking. UHP tires are available in a variety of sizes and tread patterns to suit different driving styles and conditions.
Key Trends
There are three key trends in UHP tire technology:
1. Increased focus on light weighting :In order to improve fuel economy and performance, manufacturers are focused on reducing the weight of UHP tires. This can be accomplished through the use of lighter materials in the tire construction, such as thinner treads and sidewalls.
2. Improved grip and handling : UHP tires are designed to provide superior grip and handling, and manufacturers are constantly working to improve these attributes. New tread designs and compounds are being developed to provide even better traction and handling.
3. Enhanced durability :UHP tires must be able to withstand the high loads and speeds associated with this type of driving. Manufacturers are therefore focused on improving the durability of UHP tires. This can be done through the use of stronger materials in the tire construction, as well as reinforced treads and sidewalls.
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Key Drivers
The ultra-high performance (UHP) tire market is expected to grow at a significant rate during the forecast period. The rising demand for luxury and high-end vehicles, and the increasing preference for UHP tires among consumers are the key drivers of the UHP tire market.
In addition, the growing automotive industry in Asia-Pacific and the Middle East & Africa is also expected to boost the demand for UHP tires in the coming years.
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Market Segments
The Ultra-High Performance (UHP) Tire Market is segmented by vehicle type, tire type, and region. Based on vehicle type, the market is segmented into passenger cars, SUVs & CUVs, and light commercial vehicles. Based on tire type, the UHP tire market is categorized into summer tires, all-season tires, and winter tires. Region-wise the market is divided into North America, Europe, Asia-Pacific, and the Rest of the World.
Key Players
The Ultra-High Performance (UHP) Tire Market includes players such as Continental AG, Goodyear Tire & Rubber Company, Michelin Group, Pirelli & C. S.p.A., Bridgestone, KUMHO TIRE Co., Inc. , Yokohama Rubber Co., Ltd, Nankang Rubber Tire Corp., Ltd., HANKOOK TIRE & TECHNOLOGY Co., Ltd. and Nitto Tires.
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