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China Automobile Tire Industry Report 2021
February 09, 2021 03:58 ET | Source: Research and Markets Research and Markets Dublin, IRELAND
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According to this report, China s automobile industry has developed rapidly since the access to WTO. China has been the world s largest automobile manufacturer and distributor for 12 years from 2009 to 2020. In the meanwhile, China is as well the world s largest producer and exporter of automobile tires.
Demand for automobile tires can be classified into OEM demand from whole-vehicle manufacturing and replacement demand from automobile aftermarket. In developed countries, there is scarce potential for growth of new automobile sales due to the high market saturation. Therefore, the demand for aftermarket becomes the major driving force of the tire industry.