China: Passenger Car Tyre Market 2024

Passenger Car Tyre Market Size in China

In 2021, after five years of growth, there was decline in the Chinese passenger car tyre market, when its value decreased by -2.5% to $X. The market value increased at an average annual rate of +2.3% over the period from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market reached the peak level at $X in 2020, and then declined modestly in the following year.

Passenger Car Tyre Production in China

In value terms, passenger car tyre production declined to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +1.4% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2019 with an increase of 16%. Passenger car tyre production peaked at $X in 2020, and then reduced in the following year.

Passenger Car Tyre Exports

Exports from China

In 2021, overseas shipments of tyres for motor cars were finally on the rise to reach X units after two years of decline. Overall, exports, however, continue to indicate a pronounced descent. The pace of growth appeared the most rapid in 2014 when exports increased by 60% against the previous year. As a result, the exports attained the peak of X units. From 2015 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, passenger car tyre exports skyrocketed to $X in 2021. Over the period under review, exports saw a relatively flat trend pattern. The exports peaked at $X in 2014; however, from 2015 to 2021, the exports remained at a lower figure.

Exports by Country

The UK (X units), Mexico (X units) and Brazil (X units) were the main destinations of passenger car tyre exports from China, with a combined 17% share of total exports. These countries were followed by Japan, the Netherlands, Saudi Arabia, Germany, France, Australia, Spain, Canada, the United States and Russia, which together accounted for a further 33%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by France (with a CAGR of +3.9%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for passenger car tyre exported from China were the UK ($X), Mexico ($X) and Japan ($X), with a combined 16% share of total exports. The Netherlands, Germany, Saudi Arabia, Australia, Brazil, the United States, Canada, France, Russia and Spain lagged somewhat behind, together comprising a further 35%.

In terms of the main countries of destination, France, with a CAGR of +10.0%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the average passenger car tyre export price amounted to $X per unit, surging by 18% against the previous year. Overall, the export price recorded a buoyant expansion. The pace of growth was the most pronounced in 2019 when the average export price increased by 45% against the previous year. Over the period under review, the average export prices attained the maximum in 2021 and is likely to continue growth in the immediate term.

Prices varied noticeably country of destination: the country with the highest price was the United States ($X per unit), while the average price for exports to Brazil ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to the United States (+7.2%), while the prices for the other major destinations experienced more modest paces of growth.

Passenger Car Tyre Imports

Imports into China

In 2021, the amount of tyres for motor cars imported into China skyrocketed to X units, growing by 17% on the previous year's figure. Overall, total imports indicated a buoyant expansion from 2012 to 2021: its volume increased at an average annual rate of +7.0% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +68.1% against 2018 indices. The pace of growth was the most pronounced in 2019 with an increase of 55% against the previous year. Imports peaked in 2021 and are expected to retain growth in the near future.

In value terms, passenger car tyre imports skyrocketed to $X in 2021. The total import value increased at an average annual rate of +4.8% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

Thailand (X units), the United Arab Emirates (X units) and Germany (X units) were the main suppliers of passenger car tyre imports to China, with a combined 31% share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by the United Arab Emirates (with a CAGR of +96.2%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest passenger car tyre suppliers to China were Germany ($X), Thailand ($X) and the United Arab Emirates ($X), with a combined 27% share of total imports.

Among the main suppliers, the United Arab Emirates, with a CAGR of +88.0%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the average passenger car tyre import price amounted to $X per unit, with an increase of 7.9% against the previous year. In general, the import price, however, saw a perceptible curtailment. The most prominent rate of growth was recorded in 2018 when the average import price increased by 8.4%. Over the period under review, average import prices hit record highs at $X per unit in 2012; however, from 2013 to 2021, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was France ($X per unit), while the price for Thailand ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Germany (+3.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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