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After the end of the "golden 10 years" of rapid development, China's tire industry entered a low-growth "Silver Age" from 2015.
Beginning this year, China's tire industry began to experience structural oversupply, the market growth slowed down, and the economies of scale have also been greatly reduced. The tire-line companies' transition across the board is imminent.
Prior to this, the market demand for winter tyres was not large in China.
There is no relevant law in China that the winter must be changed in winter, and the original car is basically all four-season tires.
In addition, the difference between North and South China is quite large. From the economic point of view, the vast southern market does not need winter tires, resulting in winter tires in China.
With the growing emphasis on car safety by consumers, the growth potential of the market segment for winter tyres has been widely seen in the industry for the past two years.
A few years ago, Pirelli tires had already predicted that the fastest growing tires in China would be the winter tire market. In the new round of “Silver Age†market expansion, brands such as Hankook and Pirelli have exerted their efforts, and the winter tire market has apparently begun to heat up.
In addition, the supporting market, especially the high-end supporting market, has been the highlight of major tire giants for the past 10 years.
The products that the original products and the auto manufacturers jointly developed can conduct more comprehensive technical tests and pass more rigorous tests. The product quality and brand image of the original tires directly affect the user experience and drive the expansion of the retail replacement tire market.
Now, major international tire brands have basically completed the original accumulation of brands and services in China. Replacing the fetal market is playing an increasingly important role.
Like the automotive market, the domestic tire market has now completed the transition from the seller's market to the buyer's market and a diversified market.
In such a big environment, consumers’ right to speak is getting bigger and bigger. Whether it is a retail model or a marketing strategy, companies must adapt to the needs of C-end customers.
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