According to the date of the institute of indutry of China Research,
The global tire market is expected to reach in 2023.230 billion US dollars ,an increase of 6.5% year -on- year ,Expected to arrive in 2024 ,the global tire market value will reach 280 billion US dollars ,with an annual compound growth rate reaching 3.2% .As the world's largest tire producer and consumer ,China's tire market is expected to reach 80 billion US dollars in2023, according for 34.8% of the global tire market .
China's tire products performed outstandingly in international market .According to the data of the General Administration of Customs ,from January to February 2024,China's rubber tire exports increased by 9.7% year -on-year.and the export amount increased by 10.3%
Global tire production is growing steadily ,and it is expected that the total global tire production will reach about 1.85 billion in 2024 ,an increase of 4.5% year-on-year.Among them , the total output of tires in China is expected to be 780 million ,according for 42.2 a half of the total global tire output .
The proportion of output of radial tires is increasing year by year ,and it is expected that the output will reach 784 million in 2024 ,an increase 4.4%.
Market demand :With the increase in global car ownership and the rapid development of new energy vehicles , the demand for tires in the market .
The rapid development of automobile market has higher performance requirements for tires ,which has promoted the technological innovation and product upgrading of tire enterprises .
Competitors :1, Global market pattern
The global tire market is highly conertrated ,and a few cross-medical enterprised account for most of the market share,The traditonal three giants such as Michelin ,Bridgestone ans Goodway have not been
According to the leading position in the global tire market ,the three together account for about 35% of the global market share .
The second echelon includes Continental Tire ,Pirelli ,Hantai ,Sumitomo Rubber and other enterprises ,which mainly supply the mid-end passenger car and light truck radial tire market .
In the third tier,Chinese tire manufacturers such as Zhongce Rubber ,Linlong Tire ,Racing wheel Tire ,etc ,are gradually expanding their market share and expanding to Huiqiu .
Information Research Report Planning Institute Industry Sansan ,sales Comparision of Various Platforms .
Because the sales data of spectic platforms is not easy to obtain and invoves trade secrets ,it is impossible to directly provide the sales comparison of each platform ,but we can understand the general situation from the overall market trend and corporate announcements .For example ,enterprises such as Sai Tire and Linglong Tire all showed strong growth momentum in the performance forecast in the first half of 2024 ,which reflects their domestic and international markets good performance on .
The increasing number of global car holdings and people's pursuit of travel safety and comfort will drive the continous growth of tire demand .In particular ,the rapid development of new energy vehicles has brought new growth points to the industry .
Chinese tire enterprises are accelerating the expansion of international markets to improve brand awareness and market share through overseas facotry construction ,mergers and acquisitions and other means .At the same time ,international tire enterprises have also entered the Chinese market ,intersifying market competition .
With the continuous improvement of consumer's requirements for tire performance and quality and the intersification of market competition ,high-end and brading have become an importand development trend in the tire industry .Tire enterprises need to strengthen brand building and technology creation to improve product quality and market competitiveness .
