Chinese Tire Industry to Keep on Growing in the Years Ahead, Expects CRI in Its Latest Research Report Available at MarketPublishers.com20 Apr 2017 • by Natalie Aster
LONDON - As of 2016, accomplished fixed asset investment into the Chinese rubber industry exceeded CNY 182.2 billion, growing by around 8.18% YoY after a decline of 2015. Amid them, the investments into the rubber industry decreased by 2.38% YoY to almost CNY 58.7 billion.
Robust uptake in the Chinese automobile industry significantly drives growth in the tire industry, which is one of the crucial sectors of the rubber industry. The Chinese tire manufacturing industry engaged about 4,000 enterprises in 2016, the main business income was estimated at about CNY 1 trillion, up by 2.61% YoY. Meantime, the total export value decreased by 8.11% YoY in 2016 and reached USD 44.35 billion; profits stood at over CNY 64.7 billion, up by 5.89% YoY.
As of 2016, the production volume of China’s automobile tires reached 610 million, registering an increase by almost 8% YoY. The radial tires production volume stood at 565 million, up by 9.7% YoY. Radial tires captured a share of 92.6% of total country’s tire production volume.
In the next few years, the Chinese tire industry is set to keep on gaining traction owing to favorable costs, advantageous industry chains and strong local demand.
Topical research report “A-Share Listed Tire and Rubber Companies - Profiles and Financial Data” by CRI offers an all-encompassing analysis and profiles of 90 tire and rubber companies listed in A-share market in China. It comprises holistic profiles of the enterprises and highlights their operation statuses during 2006-2016. This insightful research report discloses important performance estimates and financial details (historical and forecast).
Other comprehensive research reports elaborated by CRI are available in this catalogue at MarketPublishers.com.