Future China Tire Market: Key Dynamics, Size & Share Analysis

The China Tire Market is projected to grow at a CAGR of around 6.5% during the forecast period, i.e., 2022-27. The growth of the market is driven primarily by the exponentially rising population of China, its changing living standards, improving disposable income & purchasing power, and growing vehicle ownership. It is instigating automakers & tire manufacturers to increase their production capabilities to meet the burgeoning consumer demand for both automobiles & tires.

Top Opportunity Impacting the China Tire Market Growth

Since China is among the early adopters of technology and seeks to bring advancements in tire technology, the leading players in the China Tire Market are anticipated to witness numerous growth opportunities during the forecast period. The government is investing substantially in the research & development of tires laced with high-tech mechanisms, including IoT sensors. Additionally, the development of Smart tires to generate crucial information about vehicles & surroundings to determine the vehicle & tire condition shall further generate significant growth opportunities for the leading market players through 2027.

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Understanding the Core Segments in the China Tire Market

China Tire Market Size, Share & Industry Trends Analysis- By Type of Vehicles (Passenger Car, Light Commercial Vehicle, Buses and Trucks, Medium and Heavy Commercial Vehicles, Off the Road (OTR), Two Wheelers, Three Wheeler), By Demand Category (OEM and Replacement), By Type of Tires (Radial and Bias), By Sales Channel (Dealer/Exclusive Outlets, Online and Others), By Season (all season, winter and Summer), By Price Category (Low (Up to USD90), Medium (USD91-USD140, High (Above USD140)), By Rim Diameter (Upto 12”, 12.1” to 15”, 15.1.” to 18”, 18.1” to 20”, 20.1” to 22.5”, 22.6” to 26”, 26.1” to 35”, 35.1” to 47”, Above 47”), By Region (North East & East, North & North West, South West & South Central), By Company

Geographical Analysis of the China Tire Market

• North East & East
• North & North West
• South West & South Central

Who Dominates the China Tire Market Insights on Key Industry Players?

Companies are strengthening their presence in the China Tire market by adopting strategies such as forming strategic alliances, leveraging AI, entering partnerships, pursuing mergers and acquisitions, expanding into new regions, and introducing innovative products and services.

• Kumho
• Hangzhou Zongche
• Prinx
• Double Coin
• Cheng Shin
• Hankook
• Triangle
• Sailun Jinyu
• Giti Tire
• Aelous Tyre Co. Ltd.
• Others

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