TechNavio recognizes the following companies as the key players in the Tire Market in China: Hangzhou Zhongce Rubber Co. Ltd., GITI Tire (China) Investment Company Ltd., Triangle Group, and Shandong Linglong Tyre Co. Ltd.
Commenting on the report, an analyst from TechNavio’s Automotive team said: ”As a result of rising industry challenges, domestic players in the Tire market in China are moving toward globalization, and are entering new untapped and growing automobile markets across the globe. Globalization offers Chinese tire manufacturers benefits such as high economies of scale, new opportunities for growth, and greater flexibility in terms of operations. It also minimizes cultural and communication barriers, and thus increases efficiency. Furthermore, globalization also helps manufacturers remain highly competitive by reducing various operational and process costs.”
According to the report, the growing Automobile market in China is a major driver of the Tire market in China. The demand and supply of automobiles and tires are interlinked; an increased demand for automobiles leads to an increased demand for tires. This rapid increase in automobiles sales will lead to the growth of the Tire market in China.
Further, the report states that the increase in manufacturing cost is a major challenge confronting the market. Tire manufacturers are extremely sensitive to increasing manufacturing costs; many of them are under the threat of losing their business to competitors. Hence, the increase in manufacturing cost will continue to be a major concern for the market in the next few years.
The report also includes a discussion of the other vendors operating in this market. The other vendors in the market are as Double Coin Holdings Ltd., Aeolus Tyre Co. Ltd, and Kumho Tire Co. Inc.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors. For further information on this report, please visit https://www.technavio.com/content/tire-market-china-2012%E2%80%932016
TechNavio, the market research platform of Infiniti Research Ltd., publishes periodic market research reports on niche and emerging technologies. For more information on our Automotive market research, please visit https://www.technavio.com/automotive
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TechNavio Announces the Publication of its Research Report – Tire Market in China 2012-2016
