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Tires - China - December 2017

“Generally speaking, compared to tier one city tire buyers, those from lower tier cities are more practical and proactive and should be an area of focus for tire retailers. Highlighting safety-related features, instead of comfort will be an important way of drawing in these consumers. Brand name means more to first-time car buyers and young car buyers. Livestreaming could therefore be used to target them while building up a positive brand image.”

– Aaron Guo, Senior Analyst, China

This report will look at the following areas:

  • China tire market is stepping out of the transition period
  • Multiple methods of targeting consumers directly
  • Deliver differentiated messages to tire buyers from different city tiers

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Table of contents

  1. Overview

    • What you need to know
      • Covered in this Report
        • Excluded
        • Executive Summary

            • The market
              • Figure 1: Best- and worst-case forecast of tire market value, China, 2012-22
              • Figure 2: Best- and worst-case forecast of tire market volume, China, 2012-22
            • Companies and brands
              • Figure 3: Top ten players in the tire market, by market volume, 2015-17 est
            • The consumer
              • Brand is still the first thing people pay attention to
                • Figure 4: Criteria of tire, July 2017
              • Most tires are purchased offline during maintenance
                • Figure 5: Tire replacement reason, July 2017
                • Figure 6: CHAID analysis of tire purchase channels, July 2017
              • Different demands of new car buyers and experienced drivers on tires
                • Figure 7: Gap between intended car buyers and car owners (benchmark) on the claimed importance of tire features, July 2017
              • Sophisticated drivers view tire brands differently
                • Figure 8: Gap between sophisticated drivers and general drivers (as benchmark) on tire brand perception, July 2017
              • 25-29-year-olds are the most balanced in driving experience perception
                • Figure 9: Driving experience of different age groups, top two box, July 2017
              • What we think
              • Issues and Insights

                • China tire market is stepping out of the transition period
                  • The facts
                    • The implications
                      • Multiple methods of targeting consumers directly
                        • The facts
                          • The implications
                            • Figure 10: Continental ‘Achieve your every single journey’ campaign on Weibo
                          • Deliver differentiated messages to tire buyers from different city tiers
                            • The facts
                              • The implications
                              • The Market – What You Need to Know

                                • A year of rebound
                                  • Rolling forward
                                  • Market Size and Forecast

                                    • A year of rebound in market value
                                      • Figure 11: Best- and worst-case forecast of tire market value, China, 2012-22
                                    • Market volume surpasses 400 million units
                                      • Figure 12: Best- and worst-case forecast of tire market volume, China, 2012-22
                                  • Market Drivers

                                    • Car parc continues to rise
                                      • Figure 13: Car parc and annual growth rate of China, 2011-17 est
                                    • Aging cars on the roads
                                      • Investigation comes to the end
                                        • Rising rubber price in 2016
                                          • Figure 14: Natural rubber price, RMB per ton, 2012-Oct2017
                                        • Environmental Protection Tax Law will be effective starting 2018
                                        • Key Players – What You Need to Know

                                          • The importance of quality starts to reveal
                                            • A market skewing to consumers
                                            • Market Share

                                              • The consolidation trend
                                                • Figure 15: Top ten players in tire market, by market volume, 2015-17 est
                                              • Production capability does not mean everything
                                                • Figure 16: Top ten players in tire market, by market value, 2015-17 est
                                            • Competitive Strategies

                                              • Establishing overseas factories
                                                • From B2B to B2C via sponsorship
                                                  • Co-operating with leading online platforms
                                                    • From ground to aerospace
                                                      • Highlighting features in campaigns
                                                        • Figure 17: Continental ‘Achieve your every single journey’ campaign
                                                    • Who’s Innovating?

                                                      • Using alternative raw material
                                                        • Internet of tires
                                                          • Make it live
                                                            • Figure 18: Pirelli Highway Zero Campaign
                                                            • Figure 19: Lincoln ‘2017 North 30 Degrees’ test drive event
                                                        • The Consumer – What You Need to Know

                                                          • Young and tier one city buyers are appearance focused
                                                            • Most purchases happen during maintenance check
                                                              • Sophisticated drivers view tire brands differently
                                                              • Consideration Factors during Car Purchase

                                                                • Brand first
                                                                  • Figure 20: Criteria of tire, July 2017
                                                                • Young car buyers’ higher attention on appearance
                                                                  • Figure 21: Criteria of tire, by age group, July 2017
                                                                • Practical tier two and three car buyers
                                                                  • Knowledgeable tier one city high earners
                                                                    • Figure 22: Criteria of tire, by demographics, July 2017
                                                                • The Consumer – Tire Replacement Reason

                                                                  • Maintenance check drives tire replacement
                                                                    • Figure 23: Tire replacement reason, July 2017
                                                                  • Who are more proactive?
                                                                    • Figure 24: Key drivers of tire replacement reason, July 2017
                                                                  • The fortune in misfortune
                                                                  • The Consumer – Tire Purchase Channels

                                                                    • Offline channel still dominates
                                                                      • Figure 25: Tire purchase channels, July 2017
                                                                    • The transition between channels
                                                                      • Online channel is favoured by sophisticated car owners
                                                                          • Figure 26: CHAID analysis of tire purchase channels, July 2017
                                                                      • The Consumer – Important Features of Tires

                                                                        • Safe, safe, safe
                                                                          • Figure 27: Important features of tires, July 2017
                                                                        • Tier two and three city tire buyers are more safety focused
                                                                          • Figure 28: Gap between tier two and three city and tier one city consumers (benchmark) on the claimed importance of tire features, July 2017
                                                                        • Comfort for new car buyers, safety for current car owners
                                                                          • Figure 29: Gap between intended car buyers and car owners (benchmark) on the claimed importance of tire features, July 2017
                                                                        • Feature importance related to maintenance attitudes
                                                                            • Figure 30: Important features of tires, by maintenance service user segmentation, July 2017
                                                                        • Brand Perceptions

                                                                          • Michelin are broadly recognised positively
                                                                            • Figure 31: Tire brand perception, July 2017
                                                                          • Continental is welcomed more by the experienced drivers
                                                                            • Figure 32: Gap between sophisticated drivers and general drivers (as benchmark) on tire brand perception, July 2017
                                                                          • The choice of between sporty and comfort
                                                                          • Driving Experience

                                                                            • The ladder of driving experience
                                                                              • Figure 33: Driving experience, July 2017
                                                                            • 25-29-year-olds are the most balanced on driving experience
                                                                              • Figure 34: Driving experience of different age groups, top two box, July 2017
                                                                            • Differences between car owners from different city tiers
                                                                              • Figure 35: Gap between tier 2&3 and tier one city car owners (benchmark) on driving experience, July 2017
                                                                          • Meet the Mintropolitans

                                                                            • MinTs are more likely to be informed during maintenance checks
                                                                              • Figure 36: Tire replacement reason, by consumer segmentation, July 2017
                                                                            • Experience in multiple terrains drives MinTs’ demand for better tires
                                                                              • Figure 37: Gap between MinTs and Non-MinTs (as benchmark) on driving experience, July 2017
                                                                            • Comfort means a lot to the MinTs
                                                                            • Appendix – Market Size and Forecast

                                                                                • Figure 38: Total market value of tires, 2012-22
                                                                                • Figure 39: Total market volume of tires, 2012-22
                                                                            • Appendix – Methodology and Abbreviations

                                                                              • Methodology
                                                                                • Fan chart forecast
                                                                                  • Abbreviations

                                                                                  Tires - China - December 2017

                                                                                  US $3,990.00 (Excl.Tax)