Updated Oct 2, 2022 05:53

Aircraft Tyre Market in China

Market Overview
The Chinese aircraft tyre market totaled $ in , with an increase of % 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 ; the trend pattern indicated some noticeable fluctuations being recorded in certain years. Aircraft tyre consumption peaked at $ in 2019; however, from to , consumption stood at a somewhat lower figure.

In value terms, aircraft tyre production reached $ in estimated in export price. The total output value increased at an average annual rate of +% from 2007 to ; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2014 when the production volume increased by % against the previous year. As a result, production reached the peak level of $. From 2015 to , production growth remained at a lower figure.


Consumption
In , approx. units of tyres for aircraft were consumed in China; almost unchanged from the previous year. Overall, consumption saw a relatively flat trend pattern. Over the period under review, consumption attained the peak volume at units in ; however, from to , consumption failed to regain momentum.

The size of the aircraft tyre market in China expanded modestly to $ in , surging 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 ; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Aircraft tyre consumption peaked at $ in 2019; however, from to , consumption failed to regain momentum.


Market Forecast
Driven by increasing demand for tyres for aircraft in China, the market is expected to continue an upward consumption trend over the next eight years. Market performance is forecast to retain its current trend pattern, expanding with an anticipated CAGR of +% for the period from to , which is projected to bring the market volume to units by the end of .

In value terms, the market is forecast to increase with an anticipated CAGR of +% for the period from to , which is projected to bring the market value to $ (in nominal prices) by the end of .


Market Structure
In , the share of imports in total consumption accounted for % in value terms and % in physical terms. The share of imports decreased moderately (- percentage point) over the period under review.


Trade Balance
China remains a net importer of aircraft tyre; in physical and value terms, imports consistently exceeded exports from 2007 to . In , there was a significant trade deficit of units, which was equal to $. This tangible trade deficit reflects the fact that the market remains dependent on imports, which is likely to continue in the medium term.