“In recent years, the global tire industry has further accelerated the survival of the fittest due to the intensification of market competition, the impact of the epidemic situation, and the optimization of industrial structure.”
The concentration of China's tire industry is also getting higher and higher.
According to the statistics of the China Tire and Rubber Industry Association, the tire output of its 42 member units accounted for about 77% of China's tire output in 2020.
Among them, the top 10 tire production accounts for about 53% of the country's total.
The profits of the top 10 accounted for about 97.29% of the 42 enterprises.
Another set of data shows that the number of tire factories in China has also fallen sharply.
The number of tire enterprises monitored by statistical departments in China has dropped from more than 500 in the past to about 230. Since March last year, a number of overseas tire companies have been forced to stop production due to the global spread of the COVID-19 epidemic.
In 2020, the revenue of 8 of the top 10 tire companies in the world fell by an average of 12.5% compared with the same period last year. Its net profit loss aggravates, the enterprise differentiation is obvious. In contrast, several large brand tire enterprises in China have maintained rapid growth and outstanding performance.
According to analysis, in the next few years, China's leading tire companies are expected to quickly seize the middle and high-end share of international tire brands, and the global ranking will also be further improved.
