As of now, there are dozens of domestic tire companies worth tens of billions. Today, with the rapid development of the industry, more tire manufacturers are growing in strength with each passing day. They are full of confidence in the future and are accelerating towards the goal of 10 billion.
After a century of development, the tire industry has entered a bottleneck period that is difficult to break through from solid tires to radial tires, and there has been no major innovation. Many people in the industry believe that replacing radial tires with airless tires may be the future market trend.
Recently, Bridgestone stated that it plans to invest 207 million euros to increase the production capacity of PCR tires at its Burgos plant in Spain, especially the production capacity of large-size tires of 18 inches and above.
USTMA said March 5 that it expects total U.S. tire shipments to rise 1.1 percent to 335.7 million units this year. That's about 3.8 million units over 2023 and 3 million more units than 2019.
Recently, the Shandong Provincial Department of Industry and Information Technology and the Shandong Provincial Branch of the People's Bank of China released the "2024 Shandong Province Enterprise Technical Transformation Key Project Guidance Catalog", the total project investment is 656.16409 billion, with a planned investment of 174.70835 billion in 2024 and a financing requirement of 123.56777 billion.
China's domestic tire factories are spread across the country, including many with large production capacity. According to incomplete statistics, currently, there are 9 domestic tire factories with an annual output of more than 20 million tires.
Recently, at the 2024 Tire Industry Association OTR Tire Conference in the United States, the authoritative organization Smither made a report and analysis on the future development trends of the global OTR tire market.
In the past two years, domestic tires have set off an investment boom in China. Domestically, many tens of billions of large-scale projects are planned to be implemented. While domestic brands are making rapid progress, what measures are foreign brands taking in mainland China? In fact, although the sales and production capacity of foreign-owned truck and bus tires are indeed declining in China, passenger tires are not showing signs of timidity. In the past year, many foreign brands have announced plans to build factories and expand in mainland China.