MarkNtel Advisors analyses the growth rate of the China Tire market in the forecast period from 2022 to 2027. In addition to comprehensive market insights such as market value, growth rate, market segmentation, key market players, and market dynamic. This detailed analysis aims to provide valuable information for stakeholders in the China Tire market, helping them make informed decisions.
Market Outlook – 2022-2027:
The China Tire Market is projected to grow at a CAGR of around 6.5% during the forecast period, i.e., 2022-27. The growth of the market is driven primarily by the exponentially rising population of China, its changing living standards, improving disposable income & purchasing power, and growing vehicle ownership. It is instigating automakers & tire manufacturers to increase their production capabilities to meet the burgeoning consumer demand for both automobiles & tires.
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Key Company Profiles
This report explores recent significant developments in the China Tire Market, focusing on the leading companies and their innovative profiles. The major players in the China Tire Market, featured in this report, include:
- Kumho
- Hangzhou Zongche
- Prinx
- Double Coin
- Cheng Shin
- Hankook
- Triangle
- Sailun Jinyu
- Giti Tire
- Aelous Tyre Co. Ltd.
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Market Segmentation & Coverage
This research report by MarkNtel Advisors categorizes the China Tire Market to forecast revenues and analyse trends across each of the following sub-markets:
- By Type of Vehicles
- Passenger Car
- Light Commercial Vehicle
- Buses & Trucks
- Medium & Heavy Commercial Vehicles
- Off the Road (OTR)
- Two Wheelers
- Three Wheeler
- By Demand Category
- OEM
- Replacement
Amongst both demand categories, Replacement acquired the largest share of the China Tire Market, and the same trend is likely to be followed in the coming years.
- By Type of Tire
- Radial
- Bias
- By Sales Channel
- Dealer/Exclusive Outlets
- Online
- Others
- By Season
- All season
- Winter
- By Price Category
- Low (Up to USD90)
- Medium (USD91-USD140
- High (Above USD140)
- By Rim Diameter
- Up to 12”
- 1” to 15”
- 1.” to 18”
- 1” to 20”
- 1” to 22.5”
- 6” to 26”
- 1” to 35”
- 1” to 47”
- Above 47”
- By Region
- North East & East
- North & North West
- South West & South Central
Key Driver: Low Production Cost of Tires & a Substantial Export Business
Since China has a low production cost for tires & continuous sales of passenger vehicles, the demand for tires is extensive in the country & attracting several prominent tire manufacturers to enter the tire industry. Additionally, the upliftment of foreign investments in manufacturing passenger vehicles and the massive export business of China also drive the China Tire Market.
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Key Questions Addressed:
- Market Size and Growth Projections: What is the current size of the market, and how is it expected to grow?
- Investment Opportunities: Which products, segments, and regions present the most attractive investment opportunities?
- Technology Trends and Regulatory Influences: What are the prevailing technology trends and regulatory factors influencing the market?
- Competitive Ranking: How do top vendors rank regarding market share and competitive positioning?
- Revenue Sources and Strategic Opportunities: What revenue sources and strategic opportunities guide vendors' market entry or exit decisions?
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