owing to increasing sales of automobile and growing replacement tire demand in the country. Rising demand for automobiles in most of the countries is leading to higher production in China. China is a leading exporter of automobiles to most of the regions across the globe, with the country being the largest exporter of automobiles to Middle East.
New York, Jan. 05, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "China Tire Market, By Vehicle Type, By Demand Category, By Radial Vs Bias, By Rim Size, By Region, Forecast & Opportunities, 2025" - https://www.reportlinker.com/p06001402/?utm_source=GNW
High and rising vehicle production in China is expected to continue boosting demand for tires in the OEM tire segment.
China tire market is segmented based on vehicle type, demand category, radial vs bias, rim size and region.Based on vehicle type, the market can be categorized into passenger car, LCV (Light Commercial Vehicle), M&HCV (Medium & Heavy Commercial Vehicle), OTR (Off-The-Road Vehicles), two-wheeler and three-wheeler.
Among these, passenger car dominated the market with share of 53.45% in 2019. The growth of the segment can be attributed to surge in demand for personal transportation for daily commuting amid COVID-19, rise in sales of used and new passenger car, thereby, driving the demand for passenger car tire through 2025.
Major companies operating in China tire market are Hangzhou Zhongce Rubber Co. Ltd.,
GITI Tire (China) Investment Company Ltd., Sailun Jinyu Group Co. Ltd., Kumho Tire Co. Ltd., Triangle Tire Co. Ltd., Hankook Tire China Co. Ltd., Double Coin Holdings Ltd., Cheng Shin Rubber (China) Co. Ltd., Aelous Tyre Co. Ltd, and Prinx Chengshan (Shandong) Tire Company. Due to increasing market competition, tire manufacturers are trying to offer the best that they can. Tire manufacturers are engaging in developing and integrating new technological advancements in their high-tech tire offerings. Tire manufacturers in China are increasingly focusing on providing such advanced product offerings to meet the evolving consumer requirement with respect to better ride quality, better traction, safety, better fuel efficiency and durability.
Years considered for this report:
Historical Years: 2015-2020
Base Year: 2019
Estimated Year: 2020
Forecast Period: 2021–2025
Objective of the Study:
• To analyze and forecast market size of China tire market.
• To classify and forecast China tire market based on vehicle type, demand category, radial vs bias, rim size, company and region.
• To identify drivers and challenges in China tire market.
• To identify market trends and developments in China tire market.
• To identify and analyze the profile of leading players involved in the manufacturing of tires in China.
In order to perform the study, the analyst conducted primary as well as exhaustive secondary research.Initially, the analyst prepared an exhaustive list of China tire manufacturers and suppliers operating in the country.
Subsequently, the analyst conducted primary research surveys, which included primary calls, email responses, etc., with the identified companies. While interviewing, the respondents were also asked about their major competitors. Through this technique, the analyst was able to include manufacturers which could not be identified due to the limitations of secondary research. The analyst examined product offerings, distribution channels, and regional presence of all major tire suppliers across the country.
The analyst calculated the market size for China tire market using a bottom-up technique, wherein manufacturers’ volume sales data for different applications were recorded as well as forecast for the future years. The analyst sourced these Value & Volumes from industry experts and company representatives, and externally validated through analyzing historical sales data of respective manufacturers to arrive at the overall market size.
Databases and multiple secondary sources such as China Association of Automobile Manufacturers (CAAM), company websites, company annual reports and financial reports were also analyzed by TechSci Research.
Key Target Audience:
• Tire manufacturers, suppliers, distributors and other stakeholders
• Tire raw material suppliers
• Major end-users
• Associations, organizations, forums and alliances related to tire industry
• Government bodies such as regulating authorities and policy makers
• Market research and consulting firms
The study is useful in providing answers to several critical questions that are important for industry stakeholders such as tire manufacturers, distributors and dealers, customers and policy makers. The study would also help them to target the growing segments over the coming years, thereby aiding the stakeholders in taking investment decisions and facilitating their expansion.
In this report, China tire market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
• China Tire Market, By Vehicle Type:
o Passenger Car
o Medium & Heavy Commercial Vehicle
o Light Commercial Vehicle
o Off-The-Road Vehicle (OTR)
• China Tire Market, By Demand Category:
• China Tire Market, By Radial Vs. Bias
• China Tire Market, By Rim Size:
• China Tire Market, By Region:
o East China
o South-Central China
o North China
o North-East China
o South-West China
o North-West China
Company Profiles: Detailed analysis of the major companies present in China tire market.
With the given market data, we offers customizations according a company’s specific needs. The following customization options are available for the report:
• Detailed analysis and profiling of additional market players (up to five).
Profit Margin Analysis
• Profit margin analysis in case of direct and indirect sales channel.
Read the full report: https://www.reportlinker.com/p06001402/?utm_source=GNW
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