Car tire
The world tire industry has been in development for more than 160 years. As the upstream industry of the automobile industry, the tire industry continues to develop with the development of the automobile industry. The development of the new car market and the increasing number of car ownership have provided the driving force for the development of the tire industry. From the perspective of the global market, the world tire industry has developed into a large and highly developed industry, and has entered a relatively stable development period.
The world tire industry is highly concentrated. According to the US Tire Business, the 2016 Global Tire Top 75 list, the companies with sales exceeding US$10 billion include Bridgestone , Michelin, Goodyear and the mainland. Sales amounted to US$71.75 billion, accounting for 44.81% of global tire sales of US$160.135 billion. These major manufacturers have strong financial strength and research and development capabilities, leading the development direction of the world tire industry.
According to the China Rubber Industry Association, domestic automobile tire production increased from 210 million in 2004 to 562 million in 2014, with an average compound annual growth rate of 10.34%. The corresponding tire market scale was 87.6 billion yuan and 541.7 billion yuan respectively, and the annual compound growth rate reached 20%. In 2015, the output of rubber tires (motor vehicle tires) in China reached 925 million pieces, down 1694% year-on-year. The output of radial tires reached 607 million pieces, down 3.67% year-on-year, mainly due to the sluggish demand in the downstream automobile and other fields.
China's tire production is the world's number one, but product homogeneity is serious, and the industrial structure needs to be optimized and upgraded. China is the world's largest tire producer, and is the world's largest tire producer and rubber consumer, and the largest exporter. In 2016, China's total tire production reached 947 million. However, due to the serious homogenization of products, low-end products accounted for a relatively large proportion. According to sales, the global market share was low. Among the top 75 tire manufacturers in the world, 30 are Chinese companies, accounting for 40%, while the total market share is only 14%, which is only equivalent to the market share of a Michelin company.
From the perspective of export destinations, the developed economies such as the United States and Europe are still the main regions for China's tire exports. With the accelerated development of emerging economies, China's exports to Southeast Asia and the Middle East have also shown good momentum. However, the competitive advantage of China's tire export in the supporting market is still not strong, and enterprises are generally concentrated in the competition of the middle and low-end alternative tire market with fierce competition. In the future, leading enterprises are expected to enter the high-end model by opening the export supporting market, and further open the high-end tire replacement market. The demand for high-end tire exports is expected to become a new force for China's tire export enterprises in the future.
China's car ownership still has huge room for development, and the tire industry has many opportunities in the future. Domestic passenger car ownership has steadily increased. Up to now, China's car ownership has reached 200 million, with 20% of the world's total holdings and 30% of global sales. At present, there are 140 vehicles in China for 1,000 people. Compared with the United States, China's land area is close to that of the United States, and the population is four times that of the United States. However, the number of cars owned by thousands of people is less than one-fifth that of the United States. Compared with neighboring Japan, China's population is 11 times that of Japan, and its land area is 25.8 times that of Japan. Judging from the number of thousand people's car ownership, in 2016, the number of car ownership in China was only 140, while the figure in Japan was 591. China’s 1,000-person car ownership has not reached the global average. According to the thousand-person car ownership index, we estimate the space of China's auto market in 2025. We assume that the average life of China's automobiles in the future is 10 years. If China's 1,000-person car ownership reaches 225 in 2025, the compound sales growth rate of the automobile industry will reach 3.11% in the next decade. The car sales volume of the year was 37 million, and the car ownership. It reached 323 million vehicles. China's passenger car ownership still has a lot of room for development. This undoubtedly increased the weight of the tire market size.
In summary, in 2017, China's tire industry technology continued to upgrade, increasing the overseas layout, and the tire market scale achieved good results. In 2018, China's tire market will enter a sales integration period to promote the healthy development of the tire market.
Reading volume: Source: Report of the tire: ZebianLatex Balloon ,Emerald Green Balloons,Metallic Gold Balloons,Rubber Balloon
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