Tire industry to technological innovation as the driving force, through the oblique tire and meridian two technological revolutions, has brought the pneumatic tire into a long-life, green, safe and intelligent comprehensive development period, high mileage tires, high-performance tires have become the mainstream choice of load tires and passenger tires, safety tires and smart tires are widely used in high-end luxury cars; Solid tires are widely used in industrial vehicles, military vehicles, construction machinery, port and airport trailer vehicles and other fields under harsh conditions such as low speed and high load; Rubber tracks are gradually expanded to combine harvesters, rotary cultivators, tractors, etc. crawler-type agricultural machinery and crawler-type construction machinery based on excavators, loaders, bulldozers, etc.

Industry characteristics

The rubber track market is composed of the whole machine factory supporting market and the stock replacement market. Among them, the supporting market mainly relies on the output of crawler machinery, and its cyclicality is closely related to the development cycle of downstream application fields, of which agricultural machinery is less cyclical, and construction machinery has a strong cyclicality because it is closely related to infrastructure investment and real estate investment. The replacement market is mainly dependent on the ownership of crawler machinery, and with the increasing scale of machinery ownership and the promotion and application of more working conditions, the demand for rubber track products has increased. Overall, the rubber tire industry does not have obvious cyclical characteristics.

The seasonal characteristics of the rubber track industry are mainly related to the seasonality of the downstream machinery industry. Construction machinery does not have obvious seasonality, while agricultural machinery shows a certain seasonal cycle with the sowing and harvesting stages of crops. In the domestic market, the second quarter and the third quarter of each year are the peak sales seasons for agricultural machinery tracks. In the Southeast Asian market, the first quarter and the fourth quarter of each year are the peak sales seasons for agricultural machinery tracks. Overall, the global market for downstream applications is not exactly the same seasonality, so the seasonality of the rubber track industry is not obvious.