China Tire Market 2017-2021 Latest Trends and Global Research Analysis with Major Players - Hangzhou Zhongce Rubber, Sailun Jinyu Group, Kumho TireTriangle Tire, Hankook Tire China, Double Coin Holdings, Cheng Shin Rubber, Aelous Tyre, Prinx Chengshan.

China Tire Market Overview:

A tire is a round shaped component that surrounds the edge of a wheel to transfer the vehicle load from the axle to the wheel and provide traction on the traveled surface. Most tires, such as cars and bicycles, are pneumatically inflated structures, which also provide a flexible cushion that absorbs impacts as the tire rolls over the rough edges of the surface. Modern tire materials are synthetic rubber, natural rubber, fabric and yarn, as well as carbon black and other chemical compounds. They consist of a tread and a body, where the tread provides traction while the body provides containment for a quantity of compressed air. Before the rubber was developed, the first versions of tires were simply metal strips mounted around wooden wheels to prevent their wear. Tires are used in many types of vehicles, including automobiles, bicycles, motorcycles, buses, trucks, heavy equipment and aircraft. Metal tires are still used in locomotives and wagons, and solid rubber other polymers are still used in a variety of non-automotive applications, such as some wheels, wheelbarrows, lawn mowers and wheelbarrows.

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The increase in sales of motor vehicles, the increase in competition among tire manufacturers, the improvement of manufacturing processes and the increase in the useful life of vehicles are fueling the automobile tire market in China. However, the growing market for retreaded tires and the fluctuation in the cost of raw materials could restrict the growth of this market. In addition, the increase in car sales around the region should open several opportunities for key players.

China is largest producer of tires. The size of China's vehicle fleet has increased dramatically over the past decade, boosting tire demand in the country. In addition, continued development in urban and rural areas, and significant improvement in road infrastructure have led to the development of the automotive and tire market in the country over the years. With increased automobile ownership in China, demand for tires for new cars and replacement tires for existing vehicles continued to increase strongly in the past five years. Road construction and growth in road transportation have also contributed to higher demand for tires in the region.

Hangzhou Zhongce Rubber Co. Ltd., GITI Tire (China) Investment Company Ltd.Sailun Jinyu Group Co. Ltd., Kumho Tire Co. Ltd.,Triangle Tire Co. Ltd., Hankook Tire China Co. Ltd., Double Coin Holdings Ltd., Cheng Shin Rubber (China) Co. Ltd., Aelous Tyre Co. Ltd, Prinx Chengshan (Shandong) Tire Company are the major players of the market.

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Scope of the report:

The report offers a comprehensive analysis of the industry by providing the estimations of market potential and forecasts with utmost granularity. Along this, the factors influential in effecting the market dynamics and trends are discussed in detail at the product level. Further, the performance of the market at the regional and country-level is assessed and the prospects with high growth potential are identified and debated.

The key players in the industry are profiled providing insights on their financial performance, market position and growth strategies. Comparative analysis on prime strategical activities of the market players delineating the key developments like mergers & acquisitions, collaborations and an evaluation of the competitive environment within the industry are provided. The report also offers a broad outlook of the market along with recommendations from industry experts on the opportunities for investment activity.

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