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Tire Development Prospects
- Aug 09, 2018 -

Over the past 60 years since the founding of New China, China has gradually developed into the world's largest producer of tire industry. It has built a complete industrial system with complete specifications and complete series of products, and has obtained a series of international cutting-edge technological achievements with original innovative features. China's heavy-duty radial tires have passed the test of high speed and high load, and have reached the world's advanced level; car radial tires have achieved tubeless, wide section, flat, high speed; safety, energy saving and environmental protection tires that follow the international trend have also steadily Promoted to the international market and recognized.

According to the “China Tire Industry Market Demand Forecast and Investment Strategy Planning Analysis Report” issued by Prospective Industry Research Institute, in 2011, China’s tire industry was affected by the global economic slowdown, and tire export faced a more complicated situation, plus the price of raw materials such as rubber. Unstable, difficult to control and other factors, the production economy is very difficult to operate. However, with the joint efforts of industry enterprises, the overall economic operation throughout the year has maintained steady growth. As of the end of 2011, the total assets of China's tire manufacturing industry was 293.3 billion yuan, a year-on-year increase of 17.99%; the annual tire business of the above-scale tire manufacturing enterprises achieved a revenue of 40.4 billion yuan, a year-on-year increase of 30.40%; the total profit reached 19.08 billion yuan, a year-on-year increase 19.57%. In 2011, China's tire production (including various tires) reached 832.1 million, an increase of 8.5%.

From January to June 2012, the total sales revenue of China's tire manufacturing industry reached 228.912 billion yuan, a year-on-year increase of 17.32%; the total profit reached 13.376 billion yuan, an increase of 59.81%.

China is already the largest producer of automobiles and a consumer of new cars. From the perspective of consumption, China's per capita car ownership is less than half of the world average, and there is still room for growth in automobile consumption. On the other hand, infrastructure investment in China and other emerging markets still maintains rapid growth, and there is also room for growth in construction machinery consumption. The growth in automobile consumption and construction machinery consumption will drive the tire industry to maintain a steady growth trend. Prospective Network believes that during the “Twelfth Five-Year Plan” period, tire demand will continue to grow rapidly, and the development prospects of China's tire industry are optimistic.