In 2023, the import of new pneumatic tyres of rubber for buses or lorries to China stood at a significant volume. The forecast data from 2024 to 2028 shows a consistent decline in imports, marking a year-on-year decrease. Specifically, the imports are expected to decrease by approximately 9.27% annually over this five-year period. The Compound Annual Growth Rate (CAGR) indicates a consistent downward trajectory in the volume of tyre imports, showing a shrinking market demand or increased domestic production capabilities.
Future trends to watch for include technological advancements in tyre manufacturing, shifts in China's economic policies affecting imports, and the potential impact of sustainability and environmental regulations on foreign trade. Additionally, competitive pricing from alternative markets and innovations in transportation technology could further influence import volumes.
