China Tire Market Report 2022: Increased car sales and increased demand for tire replacement

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Chinese language tire market

Chinese tire market

Chinese language tire market

Dublin, June 8, 2022 (GLOBE NEWSWIRE) – The China tire market, by car kind (passenger automobiles, two-wheelers, M & HCV, LCV, three-wheelers and OTR), by demand class (substitute, OEM), by tire construct kind (radial, biased), by area, Competitors Outlook and Alternatives, 2017-2027″ Report added to ResearchAndMarkets.com Present.

The Chinese language tire market is anticipated to anticipate robust progress within the forecast interval, 2023-2027, at a compound annual progress price of 10.98% to achieve USD 82,463.17 million by 2027.

Rising car gross sales and growing demand for substitute tires are boosting tire manufacturing in China. Additionally, the adoption of superior applied sciences within the manufacturing course of and using high-quality supplies for tire manufacturing are the driving elements behind the expansion of the Chinese language tire market throughout the forecast interval.

Rising demand for automobiles is driving up tire manufacturing in China. China is the main exporter of automobiles worldwide and is dwelling to the world’s main auto producers. Chinese language tires are in enormous demand world wide as a result of they’re inexpensive and made of top quality supplies. With the mass manufacturing of automobiles and tires and the growing demand for high quality merchandise everywhere in the world, the Chinese language tire market is anticipated to develop at a big price within the subsequent 5 years.

Gross sales of electrical and hybrid automobiles are accelerating quickly on account of enforcement of strict emissions requirements and elevated shopper consciousness of the dangerous results of greenhouse emissions on the setting. Rising demand for electrical and hybrid automobiles is anticipated to create worthwhile progress alternatives for the Chinese language tire market within the forecast interval.

China tire market is segmented into car kind, demand class, tire construct kind, regional distribution and aggressive panorama. Based mostly on car kind, the market is split into passenger automobiles, gentle business automobiles (LCV), M&HCV, OTR, two-wheeler and three-wheeler.

Passenger automobiles topped the market in 2021 with a 46.36% share and are anticipated to take care of their dominance all through the forecast interval. Rising gross sales and manufacturing of passenger automobiles within the nation to satisfy the home and international demand results in a rise within the demand for passenger automotive tires within the forecast interval.

Purpose of the examine:

  • To research the historic progress in market measurement within the Chinese language tire market from 2017 to 2021.

  • To estimate and forecast market measurement in China tire market from 2022 to 2027 F and progress price to 2027 F.

  • To categorise and forecast the Chinese language tire market primarily based on car kind, demand class, tire construct kind, regional distribution and aggressive panorama.

  • To find out the dominant area or section within the Chinese language tire market.

  • To establish the drivers and challenges of the Chinese language tire market.

  • To look at aggressive developments akin to expansions, new product launches, mergers and acquisitions, and so forth., within the Chinese language tire market.

  • To establish and analyze the profiles of the distinguished gamers working within the Chinese language tire market.

  • To establish key sustainable methods adopted by market gamers within the Chinese language tire market.

The principle market gamers within the Chinese language tire market

  • Hangzhou Zhongce Rubber Co., Ltd. Ltd.

  • GITI Tire (China) Funding Co., Ltd.

  • Sailun Jinyu Group Co. Ltd. Ltd.

  • Kumho Tire Co., Ltd.

  • Triangle Tire Firm Restricted

  • China Hankook Tire Co., Ltd.

  • Double Coin Holdings Ltd.

  • Cheng Xin Rubber (China) Co., Ltd.

  • Elos Tire Co., Ltd.

  • Brinks Zhengshan (Shandong) Tire Firm

Scope of the report:

Years thought-about on this report:

China tire market, by car kind:

  • passenger automotive

  • two wheels

  • M & HCV

  • LCV

  • three wheels

  • OTR

China tire market, by demand section:

China tire market, by kind of tire development:

China Tire Market, By Area:

  • East China

  • south central china

  • North China

  • southwest china

  • Northeast China

  • Northwest China

For extra details about this report go to https://www.researchandmarkets.com/r/vt5wjk

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