How Big is the China Tire Market?
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.
Market Statistics
- Market Growth Rate (CAGR): 6.5% from 2022-2027
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China Tire Market Insight:
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.
China Tire Market Segmentation:
The report has segmented the market into the following categories:
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
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.
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Competitive Landscape:
- Kumho
- Hangzhou Zongche
- Prinx
- Double Coin
- Cheng Shin
- Hankook
- Triangle
- Sailun Jinyu
- Giti Tire
- Aelous Tyre Co. Ltd.
The report offers an in-depth examination of the competitive landscape. It includes a thorough competitive analysis encompassing market structure, key player positioning, leading strategies for success, a competitive dashboard, and a company evaluation quadrant.
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Key Highlights of the Report:
- Market Performance (2022-2027)
- Strategic Recommendations
- Current, Historical and Future Market Trends
- Market Drivers and Leading Competitor
- SWOT Analysis
- Structure of the Market
- Comprehensive Mapping and Recent Advancement
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