China Tire Market In-Depth Outlook Size, Share & Major Stakeholders

Scope of the Report

This comprehensive market research report covers the China Tire Market, providing an in-depth analysis of market dynamics, including drivers, challenges, and opportunities. The report encompasses various segments, including types of vehicles (passenger cars, light commercial vehicles, buses and trucks, and more), demand categories (OEM and replacement), tire types (radial and bias), sales channels, seasonal variations, price categories, and regional insights. The research encompasses historical data from 2017 to 2021 and forecasts through 2027, ensuring stakeholders gain a holistic view of the market landscape.

Market Drivers

The growth of China's tire market is primarily fueled by the increasing vehicle sales and the consequent demand for replacement tires. Government initiatives to promote electric vehicle (EV) adoption and stringent emission regulations are also playing a crucial role. The emphasis on enhancing product quality, performance, and environmental standards is urging manufacturers to adapt and innovate. Moreover, China’s low production costs for tires, coupled with its robust export capabilities, position the country as a critical player in the international tire market.

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Market Segmentation

By Type of Vehicle:

Passenger Cars
Light Commercial Vehicles
Buses and Trucks
Medium and Heavy Commercial Vehicles
Off the Road (OTR) vehicles
Two-Wheelers
Three-Wheelers

By Demand Category:

OEM (Original Equipment Manufacturer)
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. It owes principally to the constantly increasing vehicle sales in the country stimulating the replacement demand for tires & other vehicle components, coupled with the mounting awareness & concerns over vehicle maintenance, i.e., encouraging people to replace tires timely.

By Type of Tire:

Radial
Bias

By Sales Channel:

Dealer/Exclusive Outlets
Online Sales
Others

By Season:

All-Season
Winter
Summer

By Price Category:

Low (Up to USD 90)
Medium (USD 91 - USD 140)
High (Above USD 140)

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Key Players

The China Tire Market features several leading companies dedicated to technological advancements and market competitiveness. Key players include:

Kumho
Hangzhou Zongche
Prinx
Double Coin
Cheng Shin
Hankook
Triangle
Sailun Jinyu
Giti Tire
Aelous Tyre Co. Ltd
Others

These companies are actively engaging in research and development to create high-performance and fuel-efficient tires, catering to the growing demand for quality products in both domestic and international markets.

Regional Insights

North East & East
North & North West
South West & South Central

China's tire market is predominately driven by high demand in urban and semi-urban areas, where populations are concentrated, and vehicle ownership is rapidly increasing. The government is investing heavily in infrastructure projects which also enhances the demand for medium and heavy commercial vehicles. Regions such as North East and East China are expected to show significant growth due to increasing industrial activities and urbanization.

Key Questions Addressed in the Report

What are the current trends influencing the China Tire Market?
How can companies align their strategies to capture market share?
Which tire segments are expected to witness the highest growth during the forecast period?
What impact do trade tensions have on the tire market in China?
How are government regulations shaping the future of the tire industry in China?

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