Passenger Car Tire Market Overview in China
In value terms, passenger car tire production amounted to $ in 2018 estimated in export prices. The total output value increased at an average annual rate of +% from 2007 to 2018; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2011 with an increase of % y-o-y. Passenger car tire production peaked at $ in 2014; however, from 2015 to 2018, production remained at a lower figure.
The value of the passenger car tire market in China rose remarkably to $ in 2018, growing by % against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). The market value increased at an average annual rate of +% from 2007 to 2018; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2015 when the market value increased by % year-to-year. As a result, consumption attained the peak level of $. From 2016 to 2018, the growth of the market remained at a lower figure.