Demand for automobile tires can be classified into OEM demand from whole-vehicle manufacturing and replacement demand from automobile aftermarket. In developed countries, there is scarce potential for growth of new automobile sales due to the high market saturation. Therefore, the demand for aftermarket becomes the major driving force of the tire industry.
The analyst figures out two factors that drive the automobile tire industry in China: domestic market and export demand. On the one hand, both production volume and reserve volume of automobiles continue to grow in China. In 2019, the production volume of automobiles reached 25.72 million, representing a CAGR of 6.4% from 2009 to 2019. In 2019, the automobile reserve volume exceeded 1.9 million, representing a CAGR of 15% from 2012 to 2016. These two figures were far higher than the global average figures.
On the other hand, the remarkable cost advantage of Chinese tires over international competitors is correlated with an upward trend of tire export from China. In 2016, the export volume of Chinese automobile tires was 3.31 million and the export value was USD 11.46 billion. Continuous increases in the export of Chinese tires have led to huge international trade barriers faced by Chinese tire export enterprises. However, the cost advantage of Chinese tires is favorable to maintain the export volume at a high level in a short time.
The analyst states that China has established an integrated tire industry chain. Except for natural rubber mainly relying on imports, there are a large number of manufacturers of other raw materials of tires such as synthetic rubber, steel cord and carbon black in China. Chinese enterprises are also competitive in producing tire molds, manufacturing machines, etc. Some major global tire manufacturers have entered China and they perceive China as an important global production base. Nowadays in China, over half of the domestic tire market is dominated by foreign-invested enterprises. Moreover, these foreign-invested enterprises occupy most market shares of OEM for whole vehicles that are highly profitable.
According to incomplete statistics by the analyst, the number of Chinese tire manufacturers has exceeded 500 by the end of 2020. A majority of domestic tire manufacturers are characterized by small-scale enterprises that produce in a small volume, facing risks of closing down or being acquired. In order to avoid increasing domestic labor costs and trade barriers, some domestic tire manufacturers start to acquire tire enterprises or establish plants overseas. A survey by the analyst demonstrates that enterprises such as Sailun Jinyu Co., Ltd., Linglong Group, Zhongce Rubber Co., Ltd. and Double Coin Holdings Ltd. have established tire plants in Thailand, Vietnam, etc.
Although China has been the world's largest new automobile market since 2008, automobile reserves per capita remain low, with the automobile reserve volume being less than 200 per thousand persons and lower than the figure of 600-1000 per thousand persons in developed courtiers. It is estimated that China's annual economic growth rate will remain over 5% from 2021 to 2025. The production and sales volume of tires will present an annual growth rate of about 5%. Similarly, the automobile reserve volume will continue to climb, stimulating domestic demand for tires.
According to this analysis, the outbreak of the COVID-19 epidemic has had an adverse impact on China's tire manufacturing industry in the first quarter of 2020. However, since April 2020, China's tire manufacturing industry has gradually recovered. Although due to the impact of the epidemic, global and Chinese automobile production has declined, reducing the demand for tires in the new car market, the demand for tires in the aftermarket remains high. In 2019, China's tire export volume was about 500.6 million, and the CAGR from 2015 to 2019 was about 3%. The analyst expects that due to the impact of the COVID-19 epidemic in 2020, China's tire exports will slightly decline. From 2021 to 2025, the CAGR of China's tire exports will remain at least 2%. The analyst predicts that the biggest risk facing China's tire industry in the future is due to the rising costs of China's manpower, land, and energy, causing tire manufacturing companies in China to move to Southeast Asian countries such as Vietnam.
- The impact of COVID-19 on China's tire market
- Policy Environment of China Tire Industry
- Competition Status of Tire Market
- Supply and Demand Status of Tires in China
- Major manufacturers in China and Globe
- China’s Import and Export of Tires 2017-2020
- China's tire exports by type
- Driving Forces and Market Opportunities in China Tire Market, 2021-2025
- Threats and Challenges in China Tire Market, 2021-2025
- Prospect of China Tire Market, 2021-2025
Table of Contents
1 Relevant Concept of Automobile Tire Industry
1.1 Definition and Classification of Automobile Tires
1.2 Analysis of Automobile Tire Manufacturing Industry Chain in China
1.3 Manufacturing Process of Automobile Tires
1.4 The impact of COVID-19 on the Automobile Tires
2 Development Environment of Automobile Tire Industry in China, 2017-2021
2.1 Economic Environment
2.1.1 Global Economy
2.1.2 Chinese Economy
2.1 Policy Environment
2.2.1 Relevant Policies in Automotive Component Industry in China
2.2.2 Relevant Policies in Tire Manufacturing Industry in China
2.2 Development Status of Automobile Industry in China
2.2.1 Production and Sales Status of Automobiles
2.2.2 Vehicle Reserve Volume
2.3 Development Status of Global Automobile Industry
2.3.1 Production and Sales Status of Automobiles
2.3.2 Vehicle Reserve Volume
3 Development Status of Global Automobile Tire Industry, 2019-2021
3.1 Overview of Industry Development
3.2 Market Overview
4 Development Status of Automobile Tire Industry in China, 2019-2021
4.1 Development of Automobile Tire Industry in China
4.2 Analysis of Automobile Tire Industry Chain in China
4.2.2 Carbon Black
4.2.3 Steel Cord
4.3 Supply Status of Automobile Tires in China
4.3.1 Analysis of Production Capacity of Automobile Tires in China
4.3.2 Production Volume of Automobile Tires in China
4.4 Demand Status of Automobile Tires in China
4.4.1 Overall Demand
4.4.2 Demand of OEM (Vehicle Manufacturing) for Tires
4.4.3 Demand of Aftermarket for Tires
4.5 Import and Export Status of Automobile Tires in China
4.5.1 Import of Automobile Tires
4.5.2 Export of Automobile Tires
4.6 Overseas Layout of Chinese Automobile Tire Manufacturers
5 Analysis on Competition of Automobile Tire Industry in China, 2019-2021
5.1 Barriers to Entry of Automobile Tire Industry in China
5.1.1 Technological Barriers
5.1.2 Capital Barriers
5.1.3 Brand Barriers
5.1.4 Sales Channel Barriers
5.2 Competition Structure of Automobile Tire Industry in China
5.2.1 Bargaining Power of Upstream Suppliers
5.2.2 Bargaining Power of Downstream Clients
5.2.3 Competition Status
5.2.4 Potential Entrants of Automobile Tire Industry
5.2.5 Substitutes of Automobile Tires
6 Analysis on Major Global Automobile Tire Manufacturers, 2017-2020
6.4 Continental AG
6.6 Sumitomo Tire Corporation
6.7 Hankook Tires
6.8 Yokohama Tire Corporation
6.9 Cheng Shin Rubber Co., Ltd.
6.11 Toyo Tire Corporation
6.12 Kumho Group
6.13 Giti Tire Co., Ltd
6.14 Zhongce Rubber Co., Ltd.
6.15 Triangle Tire Co., Ltd.
6.16 Shandong Linglong Rubber Co., Ltd.
6.17 Aeolus Tire Co., Ltd.
6.18 Qingdao Doublestar Tire Co., Ltd.
6.19 Prinx Chengshan (Shandong) Tyre Co., Ltd.
6.20 Sailun Jinyu Co., Ltd.
6.21 Guizhou Tire Co., Ltd.
6.22 Jiangsu General Science Technology Co., Ltd.
6.23 Xingyuan Tire Group Ltd.
6.24 Shandong Hengfeng Tire Co., Ltd.
6.25 Double Coin Holdings Ltd.
7 Prospect of Automobile Tire Industry in China, 2021-2025
7.1 Factors Influencing Development of Automobile Tire Industry in China
7.1.1 Driving Forces and Market Opportunities
7.1.2 Risks and Challenges
7.1.3 Development Prospect and Market Opportunities
7.2 Forecast on Competition Pattern of Tire Industry in China
7.3 Forecast on Supply of Automobile Tires in China, 2021-2025
7.3.1 Forecast on Production Capacity of Automobile Tires in China, 2021-2025
7.3.2 Forecast on Production Volume of Automobile Tires in China, 2021-2025
7.4 Forecast on Demand for Automobile Tires in China, 2021-2025
7.4.1 Forecast on Entire Demand for Automobile Tires in China, 2021-2025
7.4.2 Forecast on Niche Demand for Automobile Tires in China, 2021-2025
List of Charts
Chart Classification of Automobile Tires
Chart Structure of Automotive Tire Industry Chain
Chart Growth Rate of Economy in Major Countries and Regions, 2017-2021
Chart China’s GDP and National Disposable Income Per Capita, 2015-2020
Chart Total Retail Sales of Consumer Goods in China, 2015-2020
Chart Disposable Income and Consumption Expenditure (RMB) of Residents Per Capita in China
Chart Consumption Expenditure Per Capita and Its Structure in China
Chart 2.6 Laws and Regulations on China's Automotive Component Industry
Chart 2.7 Relevant Policies on China's Tire Industry
Chart 2.8 Production Volume and Sales volume of Automobiles in China, 2015-2020 (Unit in million)
Chart 2.9 Automobile reserve of China
Chart 2.10 Production Volume of Automobiles and Automobile Reserve in the Globe, 2012-2020
Chart 4.1 the Earliest Tire Made in China
Chart 4.2 Production Cost Structure of All-steel Tire
Chart 4.3 Widely Used Rubber for Manufacturing Automobile Tires
Chart 4.4 Major Manufacturers of Tire Steel Cords in China
Chart 4.5 Output Volume of Tires in China, 2015-2020
Chart 4.6 Output Volume of Radial Tires in China, 2015-2020
Chart 4.7 Demand for auto tires in the Chinese market 2015-2020
Chart 4.8 Demand of OEM (Vehicle Manufacturing) for Tires 2015-2020
Chart 4.9 Demand of Aftermarket for Tires 2015-2020
Chart 4.10 Export Status of Tires in China, 2013-2020
Chart 4.11 Major Destinations of China’s Automobile Tires 2020
Chart 4.12 Major Destinations of China’s Automobile Tires 2019
Chart 4.13 Major Destinations of China’s Automobile Tires 2018
Chart 4.15 Analysis on Overseas Plants of Chinese Automobile Tire Manufacturers
Chart 6.1 Revenue of Bridgestone’s tire business
Chart 6.2 Revenue of Michelin tire business
Chart 6.3 Revenue of Goodyear tires business
Chart 6.4 Revenue of Continental tires business
Chart 6.5 Revenue of Pirelli tires business
Chart 6.6 Revenue of Sumitomo Rubber Industry Co., Ltd.
Chart 6.7 Revenue of Hankook Tire business
Chart 6.8 Revenue of Yokohama Tire Corporation
Chart 6.9 Revenue of Cheng Shin Rubber Industry Co., Ltd.
Chart 6.10 Revenue of cooper tire
Chart 6.11 Revenue of Toyo Rubber Industry Group
Chart 6.12 Revenue of Kumho Asiana Group
Chart 6.13 Revenue of Giti Tire Co., Ltd.
Chart 6.14 Revenue of Zcrubber Group Co., Ltd.
Chart 6.15 Revenue of Triangle Tire Co., Ltd.
Chart 6.16 Revenue of Shandong Linglong Tire Co., Ltd.
Chart 6.17 Revenue of Aeolus tyre Co., Ltd.
Chart 6.18 Revenue of Qingdao Double Star Co., Ltd.
Chart 6.19 Revenue of prinx chengshan (Shandong) Tire Co., Ltd.
Chart 6.20 Revenue of Saiyuan Jinyu Group Co., Ltd.
Chart 6.21 Revenue of Guizhou Tyre Co., Ltd.
Chart 6.22 Revenue of Jiangsu General Technology Co., Ltd.
Chart 6.23 Revenue of Xingyuan Tire Group Co., Ltd.
Chart 6.24 Revenue of Shandong Hengfeng Rubber & Plastic Co., Ltd.
Chart 6.25 Revenue of Double coin holdings Group Co., Ltd.
Chart 7.1 Forecast on Production Volume of Automobile Tires in China, 2021-2025
Chart Forecast on Entire Demand for Automobile Tires in China, 2021-2025
Chart Forecast on demand for tires in China's OEM market, 2021-2025
Chart Forecast on demand for tires in China's auto aftermarket, 2021-2025
- Aeolus Tire Co., Ltd.
- Cheng Shin Rubber Co., Ltd.
- Continental AG
- Double Coin Holdings Ltd.
- Giti Tire Co., Ltd
- Guizhou Tire Co., Ltd.
- Hankook Tires
- Jiangsu General Science Technology Co., Ltd.
- Kumho Group
- Linglong Group
- Prinx Chengshan (Shandong) Tyre Co., Ltd.
- Qingdao Doublestar Tire Co., Ltd.
- Sailun Jinyu Co., Ltd.
- Shandong Hengfeng Tire Co., Ltd.
- Shandong Linglong Rubber Co., Ltd.
- Sumitomo Tire Corporation
- Toyo Tire Corporation
- Triangle Tire Co., Ltd.
- Xingyuan Tire Group Ltd.
- Yokohama Tire Corporation
- Zhongce Rubber Co., Ltd.
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