Tire Manufacturing in China - Industry Market Research Report

Tire Manufacturing in China - Industry Market Research Report

Tire Manufacturing in China

Revenue for the Tire Manufacturing industry in China is expected to rise at an annualized 2.4% over the five years through 2022, to $116.7 billion. This includes anticipated growth of 7.0% in the current year. China's developing Automobile Manufacturing industry (IBISWorld industry report 3721) has been a major driver of demand for tires over the past five years. With increased automobile ownership in China, demand for tires for new cars and replacement tires for existing vehicles has continued to increase over the period. Especially in 2021, industry revenue growth rate reached 10.0%, mainly due to rise in product price. However, travel restrictions imposed by the COVID-19 pandemic have contributed to weaker demand for tires in 2020.

The Tire Manufacturing industry in China manufactures pneumatic tires, solid tires, semi-pneumatic tires, tire tubes and aircraft tires. The tire products in this industry use rubber as the major raw material.

This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.