China Tire Market Forecast: Growth Drivers & Outlook to 2027

According to recent findings, the China Tire Market is projected to grow at a CAGR of around 6.5% during the forecast period, i.e., 2022-27.

At MarkNtel Advisors, we continuously monitor and analyze industry trends to provide reliable insights that support informed decision-making and the key factors contributing to the market's promising outlook.

China Tire Overview:

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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China Tire Outlook and Future Trends :

Escalating Demand for High-Performance Tires - The mounting inclination of people toward sports vehicles, coupled with the rising popularity of driving on challenging terrains, are instigating automakers to manufacture high-capacity vehicles like crossovers, compact SUVs, etc. It, in turn, is generating growth opportunities for the leading players in the tire industry to manufacture high-performance tires, principally for delivering robust grips, minimal rolling resistance, reduced tread wear improved traction, among others.

In addition, several OEMs (Original Equipment Manufacturers) are also seeking it as a lucrative to expand their foothold visibility throughout China by offering these high-performance tires for vehicle owners. Besides, the swiftly improving living standards purchasing power of the Chinese are other prominent aspects promoting the adoption of high-performance tires in the country.

China Tire Segmentation Analysis:

By Type of Vehicles

Passenger Car
Light Commercial Vehicle
Buses Trucks
Medium Heavy Commercial Vehicles
Off the Road (OTR)
Two Wheelers
Three Wheeler

According to reports, Passenger Cars dominated the China Tire Market with the largest share in recent years.

By Demand Category

OEM
Replacement

According to reports, 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.

For deeper insights into the market, explore the summary of the research report – https://www.marknteladvisors.com/research-library/china-tire-market.html

Some of the Market players in the China Tire are:

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

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Key Highlights of the Report – Unlock Valuable Market Insights

Market Size, Share Future Projections – Understand the current market dimensions and forecasted growth trajectory.
In-Depth Pricing Analysis – Get clarity on pricing trends and cost structures across segments.
Company Strategies Developments – Discover recent mergers, acquisitions, partnerships, and innovations.
Key Stakeholders Value Chain Insights – Identify the main players and their roles within the industry ecosystem.
Import Export Dynamics – Analyze trade flows, regional export trends, and supply chain movements.
Competitive Benchmarking – Gain a clear view of the leading companies and their market positioning.
Emerging Growth Opportunities – Spot untapped areas and niche markets for potential investment.
Market Trends Growth Drivers – Stay ahead with insights into evolving consumer behavior and industry indicators.

Research Methodology Summary

A systematic approach is used to ensure accurate market insights, combining both bottom-up and top-down methods. Data triangulation validates findings from multiple angles.

Key Steps:

Define objectives and research design
Collect data through surveys and interviews
Analyze and validate data using reliable tools
Forecast trends and deliver actionable insights

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