What is the most popular tire projects in 2024? Of course it is none other than new energy vehicle tires. The latest data shows that as the sales of new energy vehicles in China continue to rise, the number of vehicles is expected to reach 39.4 million by 2025, and the market share is expected to reach 14.0%.
In the rapid development of the tire industry, passenger tires are undoubtedly the main players, especially against the backdrop of the rapid rise of new energy vehicles in the past two years, what trends and changes will there be in the passenger tire retail market in 2024? What is the current breakthrough point for Chinese brands?
In 2023, the global OTR tire market is outstanding, especially in the agricultural tire field, which has become the fastest growing segment for manufacturers. Industry insiders believe that as China's agricultural mechanization rate continues to increase, agricultural tires will be the next trend.
With the increasing awareness of global environmental protection and the rapid development of intelligent technology, green smart tires have become the focus of the rubber industry.
“For Chinese tires, it is impossible to repeat the phenomenon of multiple influencing factors improving at the same time in 2024. Most of the positives will turn negative or slow down or decrease in magnitude. The cycle of the tire industry has reached a high point, and the problem of overcapacity in the industry will become increasingly prominent. We should take countermeasures.” On March 27, at the 2024 China Rubber Conference held by the China Rubber Industry Association, Mr. Shen Jinrong, senior vice president of China Rubber Association and chairman of ZC Rubber Group, delivered a speech titled "Can China's tire industry continue the prosperity of 2023 in 2024", which aroused strong responses.
On March 19, the General Administration of Customs disclosed China’s tire export data for February 2024 and the first two months.
As of now, there are dozens of domestic tire companies worth tens of billions. Today, with the rapid development of the industry, more tire manufacturers are growing in strength with each passing day. They are full of confidence in the future and are accelerating towards the goal of 10 billion.
After a century of development, the tire industry has entered a bottleneck period that is difficult to break through from solid tires to radial tires, and there has been no major innovation. Many people in the industry believe that replacing radial tires with airless tires may be the future market trend.
Recently, Bridgestone stated that it plans to invest 207 million euros to increase the production capacity of PCR tires at its Burgos plant in Spain, especially the production capacity of large-size tires of 18 inches and above.