The China tire market is anticipated to grow with a CAGR of 3.9% during the forecast period (2020-2026). The country was the largest automotive vehicle industry in terms of vehicle produced and vehicles sales in 2019. Moreover, it is also the largest tire market globally. As per the Japan Automobile Tyre Manufacturers Association, Inc. (JATMA), the country 669 million tiers were produced in China in 2019. However, with the drop in vehicle sales in 2019, the production of tires has decreased from 684 million in 2018.
As the cases of COVID-19 pandemic has reduced a lot in the country, and the economies activities are again gaining traction, significant growth in the tire industry is also expected in the near future in the country. Passenger cars are expected to maintain the largest market share in China tire market.
Browse the full report description of "China Tire Market Size, Share & Trends Analysis Report By Vehicle Type (Passenger Cars, Light & Medium Commercial Vehicle, Heavy Commercial Vehicle, Two-Wheeler and Other), By Road Application (All-Season Tire, Summer Tire, Winter Tire and Other), By Construction (Radial Tire and Bias Ply Tire), By Tire Type (Tubeless Tire and Tubbed Tire), By Sales Channel (OEM and Aftermarket) Forecast Period 2020-2026" at https://www.omrglobal.com/industry-reports/china-tire-market
As per OICA, around 20 million passenger cars were sold in 2019 in the country. Moreover, with the increasing trend toward personalized vehicle (to avoid COVID-19 infections), lucrative growth will also be witnessed in the passenger car segment in the country. Still, the industry is expected to witness a decline in 2020 due to a steep fall in sales in the initial months of 2020.
Market Coverage
o Vehicle Type
o Road Application
o Construction
o Tire Type
o Sales Channel
o China
Key Questions Addressed by the Report
o Recovery Timeline
o Deviation from the pre-COVID-19 forecast
o Most affected region
China Tire Market Report Segment
By Vehicle Type
By Road Application
By Construction
By Tire Type
By Sales Channel
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