The data shows that among the world's top 75 tires in 2012, most of the top companies have factories in Asia, and many companies have more than one or two companies. Some multinational companies, such as Hankook, have produced more than half of their global production capacity at Asian plants.
The Asian market is like a magnet, which has great appeal to tire manufacturers, and this "magnet effect" now seems to be getting stronger and stronger.
In 2012, the world’s major tire manufacturers invested over US$10 billion in tire expansion and upgrades, of which Asia is an investment focus. This year, the world’s tire companies’ investment in Asia is still hot. Not only did Michelin and Bridgestone have great expansion plans, but companies such as Apollo’s third-tier companies also joined the expansion.
It is reported that in the global investment budget of multinational tire companies, their investment is mainly concentrated in Asia, which is dominated by China and India, and the proportion is almost half.
Pirelli ranks fifth in the top 75, and its Asia Pacific president Gregorio Borgo is optimistic about the Asia-Pacific market. He disclosed that Pirelli plans to select a new production base in the Asia Pacific region in addition to existing factories in China and Indonesia before the end of next year.
Why is the Asian market so attractive to tire manufacturers?
According to statistics from the World Motor Organization, Asia has already accounted for about half of the global automotive market share. The organization predicts that the global automotive industry will maintain a 3% growth rate this year.
As the downstream terminal industry of tires, the development of the automotive industry has a direct impact on the tire industry. Such a large market share of the car will naturally generate a huge tire market, potential replacement of the tire market development space, but also allows tire manufacturers to "covet three feet."
In the past few decades, the United States has been the leader in the automotive industry, and now Asian automobiles account for more than 50% of the world's share.
Since 2000, the production of automobiles in Asia has been increasing at an alarming rate. China is now the world's top producer of automobiles. In recent years, the European economy has continued to decline. Since 2012, Europe has become the most depressed member of the world's automotive family. This has led many tire manufacturers to continuously adjust their plans in Europe, or reduce production capacity, or directly shut down factories.
Finbarr O'Neill, global president of JDPower, predicted that sales of passenger cars in China will reach 19 million in 2013 and reach 34.6 million by 2020, which will double sales in the United States. In addition, emerging markets with Asia as the leader will continue to be the engine of global sales growth.
The above figures are enough for all tire manufacturers to spend their time on Asia's "treasures." In addition, the rapid development of the high-end market in Asia has also allowed tire manufacturers, who continue to pursue the “high-end†path, to “fuse it†to the Asian market.
Some experts predict that the global automotive high-end market will grow at an annual rate of 4.7% between 2011 and 2015, while in Asia it will achieve a rapid growth of 19.1%, which is more than four times the global growth. Similarly, in the high-end tire market, the global annual growth The rate is 9.6%, while in Asia it will achieve a growth of 17%, which is almost twice the global growth.
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