China Automobile Tire Industry Analysed & Forecast by CRI in Its New Research Study Available at MarketPublishers.com
23 Jan 2018 • by Natalie Aster
LONDON – The Chinese automobile industry has witnessed rapid development since the access to WTO. During the past 9 years, China has maintained the position of the global leader in terms of automobile production and distribution. Also, China is the global biggest producer and exporter of automobile tires. In the year 2016, the country’s output of tires was estimated at 6.1 million.
The Chinese automotive tire industry is driven majorly by two factors: steady uptake in the domestic market and rising export demand. Moreover, both reserve volume and production volume of automobiles continue to rise in the country. During 2012-2016, the domestic production volume of autos increased at a 9.9% CAGR and reached 28.12 million. During the same period, the country’s automobile reserve volume grew at a 15% CAGR and crossed 1.9 million in 2016.
The considerable cost advantage of the Chinese tires in comparison to international brands fuels growth of tire export from China. In the year 2016, the country’s export volume of automobile tires reached 3.31 million, whilst the export value stood at around USD 11.46 billion. However, swift growth of China’s automobile tires exports has led to huge international trade barriers faced by the Chinese tire export companies. Still, the cost advantage of the Chinese tires will continue supporting the high level of export in the foreseeable future.
The new research study “Research Report on Automobile Tire Industry in China, 2018-2022” prepared by China Research and Intelligence Co. (CRI) provides an in-depth study of the Chinese automobile tire industry. It covers the industry chain, describes the current market scenario and touches upon historical development patterns. Besides, this report grants access to updated statistics on the Chinese automobile tire supply, demand and exports; identifies the major factors driving and restraining the country’s automobile tire industry, covers the main trade barriers, points out the emerging growth challenges and opportunities. Moreover, this report explores the competitive environment, uncovers vital info on the top manufacturers and distributors, provides future forecasts through to 2022, and includes many more vital info.
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