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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