China’s tire market is expected to witness a significant growth at a CAGR of 3.9% during the forecast period (2020-2026). The country is the largest automotive market by volume all across the globe. As per OICA, in 2019, 25.77 million vehicles were sold in China whereas 25.7 million vehicles were manufactured in the country, making it the largest market for the OEM globally. Moreover, as per China’s the Ministry of Public Security, China’s vehicle population has reached around 360 million by June 2020. It offers a wide market to the replacement tire market in the country.
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Moreover, due to lower manufacturing cost, the country exports have increased significantly in the last decade all across the globe. COVID-19 was emerged from China, however by the mid of 2020, the cases of the COVID-19 were very low in the country, and the economic activities have begun again in the country. As per the latest international Monitory Fund estimates, China GDP will grow by 1.9% YoY in 2020, the only major economy to show positive growth in 2020. Automotive market is also recovering in the country, which is positive sign for the tire market.
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- Market Coverage
- Market number available for – 2023-2029
- Base year- 2022
- Forecast period- 2023-2029
- Segment Covered- By Source, By Product Type, By Applications
- Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill
- , and others
China Tire Market Report Segment
By Vehicle Type
- Passenger Cars
- Light & Medium Commercial Vehicle
- Heavy Commercial Vehicle
- Two-Wheeler
- Other (Construction, Agricultural, Customized Sports)
By Road Application
- All-Season Tire
- Summer Tire
- Winter Tire
- Other
By Construction
- Radial Tire
- Bias Ply Tire
By Tire Type
- Tubeless Tire
- Tubbed Tire
By Sales Channel
- OEM
- Aftermarket
The Report Covers
- Comprehensive research methodology of the China Tire market.
- This report also includes a detailed and extensive market overview with key analyst insights.
- An exhaustive analysis of macro and micro factors influencing the market guided by key recommendations.
- Analysis of regional regulations and other government policies impacting the China Tire industry.
- Insights about market determinants which are stimulating the China Tire market.
- Detailed and extensive market segments with regional distribution of forecasted revenues.
- Extensive profiles and recent developments of market players.
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