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The growth in the global construction and infrastructure sector is driving the growth in demand for construction machinery vehicles and OTR tires. In addition to this, the increase in the use of heavy machinery as well as equipment in the mining and industrial sectors is also boosting the demand for the OTR tires market.
According to CRI's analysis, China is the world's leading OTR tire producer, consumer market and exporter.
In 2021, China exported 7,031,900 OTR tires (new pneumatic rubber tires), up 17.48% year-on-year, with an export value of US$879 million, up 39.12% year-on-year. According to CRI analysis, from January to October 2022, China exported 6,216,900 OTR tires, up 12.68% year-on-year, with an export value of US$1.071 billion, up 50.10% year-on-year.
From 2018-2022, the average export price of China's OTR tires shows a general trend of decreasing before increasing. CRI analysis shows that from 2018-2020, the average export price of China's OTR tires decreases continuously, from US$145.17 per tire in 2018 to US$105.61 per tire in 2020.From 2020-2022, the average export price of China's The average export price of OTR tires rose continuously. In 2021, China's OTR tires export price rebounded to 2019 level, and in January-October 2022, China's OTR tires export price rose to US$172.20 per piece, an increase of 33.21% year-on-year.
China's exports of OTR tires are classified as rim size greater than 61 cm or less than or equal to 61 cm. According to CRI's analysis, other new pneumatic rubber tires with rim size less than or equal to 61 cm are the main export type in China by export volume. In 2021, China exported 5,749,800 other new pneumatic rubber tires with rim size less than or equal to 61 cm, accounting for 81.77% of the total export volume of OTR tires and US$176 million, accounting for 20.07% of the total export value.
CRI analysis, by export value, rim size greater than 61 cm other new pneumatic rubber tires is China's main export type. In 2021, China exported rim size greater than 61 cm other new pneumatic rubber tires US$ 582 million, accounting for 66.20% of the total export value, and the export volume of 671,800, accounting for 9.55% of the total export volume.
In 2021, Chinese OTR tires were exported to more than two hundred countries and regions around the world. CRI analysis shows that Brazil, the Russian Federation, Mexico, the United Kingdom, the United States, Italy, Saudi Arabia, Peru, Chile and Canada are the main OTR tire export destinations in China by export volume. By export volume, Brazil is the main export destination of OTR tires from China. 1,161,100 OTR tires were exported from China to Brazil in 2021, accounting for 22.98% of the total export volume.
CRI expects that China's OTR tire exports are expected to continue to grow in the years 2023-2032.
Topics covered:
- China's Off-the-Road (OTR) Tire Export Status and Major Sources in 2018-2022
- What is the Impact of COVID-19 on China's Off-the-Road (OTR) Tire Export?
- Which Companies are the Major Players in China's Off-the-Road (OTR) Tire Export Market and What are their Competitive Benchmarks?
- Key Drivers and Market Opportunities in China's Off-the-Road (OTR) Tire Export
- What are the Key Drivers, Challenges, and Opportunities for China's Off-the-Road (OTR) Tire Export during 2023-2032?
- What is the Expected Revenue of China's Off-the-Road (OTR) Tire Export during 2023-2032?
- What are the Strategies Adopted by the Key Players in the Market to Increase Their Market Share in the Industry?
- What are the Competitive Advantages of the Major Players in China's Off-the-Road (OTR) Tire Export Market?
- Which Segment of China's Off-the-Road (OTR) Tire Export is Expected to Dominate the Market in 2032?
- What are the Major Adverse Factors Facing China's Off-the-Road (OTR) Tire Export?