According to the latest data released by the National Bureau of Statistics, China's rubber tire production reached 105.56 million units in December 2024, a year-on-year increase of 9.5%. The full-year production of rubber tires in 2024 reached 1.186894 billion units, up by 9.2% compared to the previous year. This growth reflects the vigorous development of China's tire manufacturing enterprises, which have continuously expanded production capacity and optimized manufacturing processes.
In 2024, China's rubber tire exports reached 9.32 million tons, up by 5.2% year-on-year, with an export value of 164.5 billion yuan, a 5.6% increase. Among them, new pneumatic rubber tires performed exceptionally well, with exports reaching 8.99 million tons, up by 4.9%, and an export value of 158.3 billion yuan, up by 5.5%. The export volume of automotive tires also showed strong growth, reaching 7.95 million tons, up by 5%, with an export value of 136 billion yuan, up by 6.3%. These figures indicate that Chinese tires are becoming increasingly competitive in the international market.
However, the domestic market presents a more complex situation. From January to November 2024, passenger vehicle production and sales grew steadily, with production reaching 24.459 million units and sales reaching 24.435 million units, up by 4.3% and 5% respectively. New energy vehicles (NEVs) saw a surge in production and sales, reaching 11.345 million and 11.262 million units respectively, up by 34.6% and 35.6%. This growth in NEVs has brought new opportunities to the tire industry. In contrast, gasoline-powered vehicles saw a decline in November sales, down by 6.5% year-on-year. Overall, the original equipment (OE) market for passenger vehicles remains promising, with tire demand growing steadily alongside vehicle production and sales.
The commercial vehicle OE market, however, faces challenges. In November 2024, national commercial vehicle sales (wholesale) declined by 13.93% year-on-year. The cumulative sales for January to November 2024 reached 3.5053 million units, down by 4.45%. The decline in commercial vehicle sales has put significant pressure on the steel-belted tire market.
China has long been one of the most competitive regions in the global tire market. Despite the strong export performance in 2024, multiple countries and regions have imposed trade barriers, creating obstacles for Chinese tire exports. In the domestic market, foreign brands have withdrawn from the steel-belted tire market in recent years, leaving Chinese tire enterprises to compete fiercely among themselves.
As 2025 begins, competition in the tire business is intensifying. Chinese tire enterprises face numerous challenges, including increasing production capacity and potential overcapacity. In the export market, volatile trade policies add uncertainty. The domestic OE and replacement markets also face an uncertain outlook.
Nevertheless, there is hope. As Chinese tire enterprises continue to improve product quality, they are gradually gaining a foothold in the global market. Despite the challenges, the future holds both risks and opportunities.
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