Tire, as an important part of automobiles, are the basis for the development of automotive industry. Driven by the continuous growth of the downstream auto industry, the global car tire demand forecast will grow at a compound annual growth rate of 2.3% from 2017 to 2021. The demand of the passenger car industry and commercial vehicle industry will increase by 2.9% and 1.7% respectively.
It is expected that the sales volume of semi-steel radial tires is expected to grow rapidly from 2017 to 2021 with a CAGR of 2.8%, while the demand for all-steel radial tires and bias tires is expected to grow at a compound annual rate of 1.8% and 0.3% respectively over the same period.
Overall, it is expected that the sales volume of global automobile tires will reach 3.104 billion in 2018, and the sales volume of tires will reach 3.104 billion by 2021.
It is expected that the sales volume of semi-steel radial tires is expected to grow rapidly from 2017 to 2021 with a CAGR of 2.8%, while the demand for all-steel radial tires and bias tires is expected to grow at a compound annual rate of 1.8% and 0.3% respectively over the same period.
Overall, it is expected that the sales volume of global automobile tires will reach 3.104 billion in 2018, and the sales volume of tires will reach 3.104 billion by 2021.
(R-11)
