As one of the regions with the fastest growth rate of tire imports in the world in recent years, the Middle East has received widespread attention from the industry. Many tire companies have targeted this market and announced plans to invest in and build factories.
The latest data from the National Bureau of Statistics shows that China's rubber tire casing output in March 2024 was 96.913 million units, a year-on-year increase of 4%. From January to March, China's cumulative output of rubber tire casings was 254.267 million units, a year-on-year increase of 12.7%.
The global market is changing rapidly, and the automotive industry is accelerating its iterations. After the first outbreak between 2010 and 2015, Chinese automobiles have entered a high-growth cycle again since last year, in other words, the second round of outbreak of Chinese automobiles has arrived.
What is the most popular tire projects in 2024? Of course it is none other than new energy vehicle tires. The latest data shows that as the sales of new energy vehicles in China continue to rise, the number of vehicles is expected to reach 39.4 million by 2025, and the market share is expected to reach 14.0%.
In the rapid development of the tire industry, passenger tires are undoubtedly the main players, especially against the backdrop of the rapid rise of new energy vehicles in the past two years, what trends and changes will there be in the passenger tire retail market in 2024? What is the current breakthrough point for Chinese brands?
In 2023, the global OTR tire market is outstanding, especially in the agricultural tire field, which has become the fastest growing segment for manufacturers. Industry insiders believe that as China's agricultural mechanization rate continues to increase, agricultural tires will be the next trend.
With the increasing awareness of global environmental protection and the rapid development of intelligent technology, green smart tires have become the focus of the rubber industry.
“For Chinese tires, it is impossible to repeat the phenomenon of multiple influencing factors improving at the same time in 2024. Most of the positives will turn negative or slow down or decrease in magnitude. The cycle of the tire industry has reached a high point, and the problem of overcapacity in the industry will become increasingly prominent. We should take countermeasures.” On March 27, at the 2024 China Rubber Conference held by the China Rubber Industry Association, Mr. Shen Jinrong, senior vice president of China Rubber Association and chairman of ZC Rubber Group, delivered a speech titled "Can China's tire industry continue the prosperity of 2023 in 2024", which aroused strong responses.
On March 19, the General Administration of Customs disclosed China’s tire export data for February 2024 and the first two months.