China Tire Market Analysis, Size, Share, Growth & Forecast 2027

Summary

Report Description

China tire market was valued at USD44,500.15 million in the year 2021 and it is expected to grow at CAGR of 10.98% until 2027 on account of expanding automotive industry in China. In China, an increase in vehicle sales has been seen with time, and many vehicles are being exported overseas and this is driving the growth of China tire market in the upcoming five years.

The spread of the COVID-19 pandemic has affected the China tire market in many ways. Due to COVID-19, China has faced a health and economic crisis. The country faced a decline of USD 300 billion or 2.4% in the imports of the tire in the month of January and February 2020 compared to the same period in 2019. The foreign tire companies’ operating in the country are also facing pressures to diversify or move out from the China due to the supply chain issue. Due to the declaration of lockdown to stop the spreading of the pandemic, almost all the automotive factories, showrooms, and workshops were closed, resulting in a significant decline in production and sales of tires in China. China is facing growing restrictions on its overseas commercial activities and access to foreign technology due to the impact of COVID-19, but in 2020, the Chinese government reported 3.2% gross domestic product (GDP) growth in the second quarter and 4.9% GDP growth in the third quarter of 2020.

Growth in Automotive Export

China is home to some of the world's largest light-vehicle manufacturers globally, where most of the vehicles are exported overseas. According to the China Passenger Car Association (CPCA), China has exported more than 760,000 cars in the first five months of 2021. Some of the main export destinations include Chile, Saudi Arabia, Russia, and Australia. Many automotive companies have set up their manufacturing plants in China, such as Tesla. The production plant of Tesla is based in Shanghai (China). Tesla's Model 3 and Model Y exports stood at almost 25,000 units in April & May in 2021, driven by Tesla's Gigafactory in Shanghai. China is a leading exporter of automobiles to most regions across the globe. The rising demand for automobiles in most countries leads to higher production in China. According to the China Passenger Car Association (CPCA), China has shipped about 2.02 million units of all types of vehicles overseas in the year 2021. In 2021, the automotive industry faced a chip shortage, affecting vehicle sales. According to the China Association of Automobile Manufacturers, the auto chip shortage has affected global carmakers' production, but the Chinese vehicle producers have suffered much less than their counterparts in the US or Europe. Due to this high and rising vehicle production in China is expected to continue boosting demand for tires in the OEM tire segment.

Government Incentives for the Electric Vehicles

The government of China has introduced many incentive plans to bolster auto sales, which have been hit by the fallout from the spread of the coronavirus. The government of China has introduced many subsidies policies on the purchase of electric vehicles. By this, many people are showing interest in buying electric vehicles. The electric vehicle is heavier than the combustion engine vehicle due to the weight of battery. Due to the heavy weight of vehicle, there are more wear and tear in tires due to which tire manufactures introduce new features for electric vehicle tires.

The electric vehicle produces very less noise, so the effects of wind noise and tire noise are more noticeable when in an electric vehicle, so the tire manufacturers are making tires with different tread patterns that cut down on the acoustic effects. With the new features in the tires of electric vehicles, the demand for the tires in China tire will increase.

Economical Pricing and Technological Developments Driving Chinese Tire Market

The Chinese tire brands are gaining market share as it is the world's largest producer and exporter of automobile tires in various regions across the globe. OEM demand from whole-vehicle manufacturing and replacement demand from automobile aftermarket is very high in China as compared to the rest of the world. Owing to the low prices and advanced technology, Chinese tires are in high demand across the globe. The Chinese tire is cheap in price with good quality compared to any other brand, and people are showing interest in Chinese tire brands as they are available at lower prices than international brands. The quality of the products offered by the Chinese brands is getting better and better as all the Chinese production sites have extensive quality control systems that help maintain the tire quality. This factor is going to drive the Chinese tire market in other regions of the world.

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Market Segmentation

The China Tire market is segmented based on Vehicle Type, By Demand Category and Tire Construction Type Based on vehicle type the market is further fragmented into Passenger Car, Two-Wheeler, M&HCV, LCV, Three-Wheeler and OTR. Based on the tire construction type, the market is bifurcated into radial and bias. In the vehicle type, passenger car tires segment is the dominant with a market share of 46.36% in the year 2021. China is home to many automotive manufacturers as many automotive companies have stabilized their production plants in China, due to this the China tire market is growing year on year.

Company Profiles

Hangzhou Zhongce Rubber Co. Ltd., GITI Tire (China) Investment Company Ltd, Sailun Jinyu Group Co. Ltd., Kumho Tire Co. Ltd., Triangle Tire Co. Ltd., Hankook Tire China Co. Ltd., Double Coin Holdings Ltd., Cheng Shin Rubber (China) Co. Ltd, Aelous Tyre Co. Ltd, and Prinx Chengshan (Shandong) Tire Company are among the major market players in China that lead the market growth of the China tire market.

Attribute	Details
Market size value in 2021	USD44,500.15 Million
Revenue Forecast in 2027	USD82,463.17 Million
Growth Rate	10.98%
Base Year	2021
Historical Years	2017 – 2020
Estimated Year	2022
Forecast Period	2023 – 2027
Quantitative Units	Revenue in USD Million, Volume in Thousand Units, and CAGR for 2017-2021 and 2022-2027
Report Coverage	Revenue forecast, volume forecast, company share, competitive landscape, growth factors, and trends
Segments Covered	· By Vehicle Type · By Demand Category · By Tire Construction Type · By Company · By Region
Region Scope	East China, South-Central China, North China, South-West China, North-East China, North-West China.
Key Companies Profiled	Hangzhou Zhongce Rubber Co. Ltd., GITI Tire (China) Investment Company Ltd, Sailun Jinyu Group Co. Ltd., Kumho Tire Co. Ltd., Triangle Tire Co. Ltd., Hankook Tire China Co. Ltd., Double Coin Holdings Ltd., Cheng Shin Rubber (China) Co. Ltd, Aelous Tyre Co. Ltd, and Prinx Chengshan (Shandong) Tire Company
Customization Scope	10% free report customization with purchase. Addition or alteration to country, regional & segment scope.
Pricing and Purchase Options	Avail customized purchase options to meet your exact research needs. Explore purchase options
Delivery Format	PDF and Excel through Email (We can also provide the editable version of the report in PPT/pdf format on special request)

Report Scope:

In this report, China tire market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:

China Tire Market, By Vehicle Type:

Passenger Car
Two-Wheeler
M&HCV
LCV
Three-Wheeler
OTR

China Tire Market, By Demand Category:

Replacement
OEM

China Tire Market, By Tire Construction Type

Radial
Bias

China Tire Market, By Region:

o East China

o South-Central China

o North China

o South-West China

o North-East China

o North-West China

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in China tire market.

Available Customizations:

With the given market data, TechSci Research offers customizations according to a company’s specific needs. The following customization options are available for the report:

Company Information

Detailed analysis and profiling of additional market players (up to five).

In case you don’t find what you are looking for, please get in touch with our custom research team at [email protected]

Table of content

1. Product Overview

2. Research Methodology

3. Executive Summary

4. Impact of COVID-19 on China Tire Market

5. Voice of Customer

5.1. Factors Influencing Purchase Decision

5.2. Aided and Unaided Brand Recall

5.3. Brand Satisfaction

6. China Tire Market Outlook

6.1. Market Size & Forecast

6.1.1. By Volume and Value

6.2. Market Share & Forecast

6.2.1. By Vehicle Type (Passenger Car, Two-wheeler, M&HCV, LCV, Three-Wheeler and OTR)

6.2.2. By Demand Category (OEM, Replacement)

6.2.3. By Tire Construction Type (Radial, Bias)

6.2.4. By Region (East China, South-Central China, North China, South-West China, North-East China, North-West China)

6.2.5. By Company (2021)

6.3. Product Market Map (By Vehicle Type, By Region)

7. China Passenger Car Tire Market Outlook

7.1. Market Size & Forecast

7.1.1. By Volume and Value

7.2. Market Share & Forecast

7.2.1. By Vehicle Type (Sedan, SUV/MPV & Hatchback)

7.2.2. By Demand Category

7.2.3. By Tire Construction Type

8. China Two-Wheeler Tire Market Outlook

8.1. Market Size & Forecast

8.1.1. By Volume and Value

8.2. Market Share & Forecast

8.2.1. By Vehicle Type (Scooter/Moped & Motorcycle)

8.2.2. By Demand Category

8.2.3. By Tire Construction Type

9. China M&HCV Tire Market Outlook

9.1. Market Share & Forecast

9.1.1. By Value & Volume

9.2. Market Share & Forecast

9.2.1. By Vehicle Type (Truck & Bus)

9.2.2. By Demand Category

9.2.3. By Tire Construction Type

10. China LCV Tire Market Outlook

10.1. Market Size & Forecast

10.1.1. By Volume and Value

10.2. Market Share & Forecast

10.2.1. By Vehicle Type (Pickup Truck, Van)

10.2.2. By Demand Category

10.2.3. By Tire Construction Type

11. China Three-Wheeler Tire Market Outlook

11.1. Market Size & Forecast

11.1.1. By Volume and Value

11.2. Market Share & Forecast

11.2.1. By Vehicle Type (Load Carrier & Passenger Carrier)

11.2.2. By Demand Category

11.2.3. By Tire Construction Type

12. China OTR Tire Market Outlook

12.1. Market Size & Forecast

12.1.1. By Volume and Value

12.2. Market Share & Forecast

12.2.1. By Vehicle Type (Mining Vehicle & Construction & Industrial Vehicle, Agriculture Vehicles, & Others include All Terrain Vehicles, Sports Vehicles, etc.)

12.2.2. By Demand Category

12.2.3. By Tire Construction Type

13. Import-Export Analysis

14. Market Dynamics

14.1. Drivers

14.2. Challenges

15. Market Trends and Developments

16. Policy Regulatory and Landscape

17. China Economic Profile

18. Competitive Landscape

18.1. Hangzhou Zhongce Rubber Co. Ltd.

18.2. GITI Tire (China) Investment Company Ltd.

18.3. Sailun Jinyu Group Co. Ltd.

18.4. Kumho Tire Co. Ltd.

18.5. Triangle Tire Co. Ltd.

18.6. Hankook Tire China Co. Ltd.

18.7. Double Coin Holdings Ltd.

18.8. Cheng Shin Rubber (China) Co. Ltd.

18.9. Aelous Tyre Co. Ltd

18.10. Prinx Chengshan (Shandong) Tire Company

19. Strategic Recommendations

20. About Us & Disclaimer

Figures and Tables

List of Figures

Figure 1: China Tire Market Size, By Volume (Thousand Units) and Value (USD Million), 2017-2027F

Figure 2: China Tire Market By Share, By Vehicle Type, By Volume, 2017-2027F

Figure 3: China Tire Market By Share, By Demand Category, By Volume, 2017-2027F

Figure 4: China Tire Market By Share, By Tire Construction Type, By Volume, 2017-2027F

Figure 5: China Tire Market By Share, By Region, By Volume, 2017-2027F

Figure 6: China Tire Market Share, By Company, By Value, 2021

Figure 7: China Tire Market Map, By Vehicle Type, Market Size (Thousand Units) & Growth Rate (%)

Figure 8: China Tire Market Map, By Region, Market Size (Thousand Units) & Growth Rate (%)

Figure 9: China Passenger Car Tire Market Size, By Volume (Thousand Units) and Value (USD Million), 2017-2027F

Figure 10: China Passenger Car Tire Market Share, By Vehicle Type, By Volume, 2017-2027F

Figure 11: China Passenger Car Tire Market Share, By Demand Category, By Volume, 2017-2027F

Figure 12: China Passenger Car Tire Market Share, By Tire Construction Type, By Volume, 2017-2027F

Figure 13: China Two-Wheeler Tire Market Size Volume (Thousand Units) and Value (USD Million), 2017-2027F

Figure 14: China Two-Wheeler Tire Market Share Vehicle Type, By Volume, 2017-2027F

Figure 15: China Two-Wheeler Tire Market Share, By Demand Category, By Volume, 2017-2027F

Figure 16: China Two-Wheeler Tire Market Share, By Tire Construction Type, By Volume, 2017-2027F

Figure 17: China M&HCV Tire Market Size, By Volume (Thousand Units) and Value (USD Million), 2017-2027F

Figure 18: China M&HCV Tire Market Share, By Vehicle Type, By Volume, 2017-2027F

Figure 19: China M&HCV Tire Market Share, By Demand Category, By Volume, 2017-2027F

Figure 20: China M&HCV Tire Market Share, By Tire Construction Type, By Volume, 2017-2027F

Figure 21: China Two-Wheeler Tire Market Size, By Volume (Thousand Units) and Value (USD Million), 2017-2027F

Figure 22: China LCV Tire Market Share, By Vehicle Type, By Volume, 2017-2027F

Figure 23: China LCV Tire Market Share, By Demand Category, By Volume, 2017-2027F

Figure 24: China LCV Tire Market Share, By Tire Construction Type, By Volume, 2017-2027

Figure 25: China Three-Wheeler Tire Market Size, By Volume (Thousand Units) and Value (USD Million), 2017-2027F

Figure 26: China Three-Wheeler Tire Market By Share, By Vehicle Type, By Volume, 2017-2027F

Figure 27: China Three-Wheeler Tire Market By Share, By Demand Category, By Volume, 2017-2027F

Figure 28: China Three-Wheeler Tire Market By Share, By Tire Construction Type, By Volume, 2017-2027F

Figure 29: China OTR Tire Market Size, By Volume (Thousand Units) and Value (USD Million), 2017-2027F

Figure 30: China OTR Tire Market Share, By Vehicle Type, By Volume, 2017-2027F

Figure 31: China OTR Tire Market Share, By Demand Category, By Volume, 2017-2027F

Figure 32: China OTR Tire Market Share, By Tire Construction Type, By Volume, 2017-2027F

Frequently asked questions

What is the market size of China Tire Market?

The China tire market valued at USD44,500.15 million in 2021, and the market is estimated to grow with the CAGR of 10.98% till 2027.

Which region is the dominant in the China Tire Market?

East China region has the maximum market share in the China tire market in 2021, with 34.15% market share and the same is expected in the forecast years as well.

Which are the key players in China Tire Market?

Some of the key players in the China tire market include Hangzhou Zhongce Rubber Co. Ltd., GITI Tire (China) Investment Company Ltd, Sailun Jinyu Group Co. Ltd., Kumho Tire Co. Ltd., Triangle Tire Co. Ltd., Hankook Tire China Co. Ltd., Double Coin Holdings Ltd., Cheng Shin Rubber (China) Co. Ltd, Aelous Tyre Co. Ltd, and Prinx Chengshan (Shandong) Tire Company.