Industry Analysis & Industry Trends
In recent years, tire demand has been driven by several factors. The development of China's Automobile Manufacturing industry has been a major driver of tire demand. Coupled with increased automobile ownership in China, demand for tire 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.
Revenue of the Tire Manufacturing industry in China is expected to total $49.49 billion by the end of 2011, up 9.2% for the year, with an average annualized growth rate of 19.9% from 2006 (constant 2011 dollars). Revenue growth in 2011 is expected to be less than that of 2010, due to reduced downstream demand.... purchase to read more
Industry Report - Industry Investment Chapter
In recent years, tire manufacturers have invested heavily to upgrade existing plant and equipment and to introduce advanced equipment to develop radial tires. Large enterprises in this industry have constantly expanded their production capacity of radial tires to capture higher market share.
From the mixing of raw materials to the vulcanizing of tires, most firms have many production lines and therefore require large numbers of employees and manufacturing equipment. Technology improvements have increased the efficiency and productivity of machinery and have become more energy efficient.
Technology is an important competitive factor in this industry. Foreign enterprises invest more in R&D activities and have competitive advantages in technology... purchase to read more