Due to an effective industry overhaul by the government and the post-pandemic recovery of the global economy, China’s tire market is projected to grow at a 5% CAGR from 2021 to 2025, with a total market size of 482 billion CNY.
However, the brand power of Chinese tire brands is still insufficient compared to foreign counterparts—in China’s domestic passenger car market, for example, local brands only have a one-fifth market share mostly represented by low-end models.
To ensure that it meets its targets and gains more favorability with the domestic population, improving brand power is a must for China’s tire market. This publication delves into the current landscape of the domestic tire market and takes a deeper look at how leading tire brands can drive successful growth and development through trends and market structure.
Notably, a few domestic brands have gained market breakthroughs through new branding strategies. Domestic tire market companies are currently employing two strategic objectives when re-developing their branding that have worked for both foreign companies and larger stakeholders:
- Providing reasonably priced and high-performance tires for the market
- Developing owned e-commerce platforms and membership systems to strengthen CRM efficiency
To learn more about the Chinese tire market and discover new strategies being employed for development, download our full report.