During the last decade, China emerged as one of the leading economies worldwide in terms of GDP growth. The country has grown manifold and emerged as the leading manufacturing hub across the globe. With a population of over 1.35 billion, China witnessed multifaceted development within various industries for the past few years. The automotive industry, in particular, has grown at a tremendous pace owing to diverse factors such as increasing disposable income, rising standard of living and automobile export demand. This, in turn, has catalyzed the development of tire market in China in terms of both production as well as sales. China’s vehicle fleet size witnessed a radical increase during the past decade, which has further driven tire demand in the country. Ongoing development in both urban as well as rural pockets and significant improvement in road infrastructure have been driving the expansion of automobile and tire market. However, rising environmental concerns have posed a threat to the industry’s growth over the coming years.
According to “China Tyre Market Forecast & Opportunities, 2020”, tire market in China is forecast to increase at over 11% CAGR during 2015-20. Increasing automobile sales, continuously expanding motor vehicle fleet, increasing exports, ongoing developments in road infrastructure coupled with innovations in tire technology are the major factors driving growth in tire market. Segment wise, passenger car tires remain the most dominant market segment followed by two-wheeler tire and commercial vehicle tire segment in that order. In 2014, replacement and OEM segment held almost equal share in China tire market. However, the replacement tire market is anticipated to attain higher market share by the end of forecast period. “China Tyre Market Forecast and Opportunities, 2020” discusses the following aspects:
- China Tire Market Size, Share & Forecast
- Segmental Analysis – Passenger Car Tires, Commercial Vehicle Tires, Two-wheeler Tires, Three-wheeler Tires & OTR Tires
- Import & Export Analysis
- Policy and Regulatory Landscape
- Market Trends and Opportunities
- Competitive Landscape & Strategic Recommendations
Why You Should Buy This Report?- To gain in-depth understanding of tire market in China
- To identify the on-going trends and segment wise anticipated growth in the coming years
- To help industry consultants, tire manufacturers and other stakeholders to align their market-centric strategies
- To gain in-depth understanding of market dynamics, import-export statistics, recent trends and opportunities in China
- To obtain research based business decision and add weight to presentations and marketing materials
- To gain competitive knowledge of leading players
- To avail 10% customization in the report without any extra charges and get the research data or trends added in the report as per the buyer’s specific needs
Report Methodology The information contained in this report is based on both primary and secondary sources. Primary research included interviews with tire manufacturers, distributors, retailers and industry experts. Secondary research included an exhaustive search of relevant publications like company annual reports, financial reports and proprietary databases.