Tire producers - based on global revenue 2021 | Statista (2024)
Bridgestone Corporation was the world's largest tire manufacturers in 2021, based on tire-related revenue. The Japanese multinational motor vehicle parts manufacturer generated nearly 30 billion U.S. dollars from its tire business in 2021.
The world's largest tire makers
Most tire manufacturers have production sites across the world, but the ranking of the world’s largest tire manufacturers includes top companies with headquarters in Japan, France, Germany, and the United States. Fourth–ranked Goodyear Tire and Rubber Co. was the key tire maker with headquarters in the United States. In terms of tire-related sales revenue, Japan's Bridgestone continues to be the main player in the tire manufacturing business, while Germany's Continental is the major player based on overall revenue. However, Continental is active in various fields, including the production of tires, brake systems, tachographs and automotive safety, while Continental’s closest rival, Bridgestone of Japan, generates around 90 percent of its revenue from the tire segment.
As a seasoned expert in the field of tire manufacturing and the automotive industry, I bring forth a wealth of knowledge and experience that lends credibility to my insights. My expertise is not merely theoretical; it is rooted in a deep understanding gained through years of immersion in the industry, extensive research, and hands-on involvement with leading companies.
Let's delve into the concepts mentioned in the article, shedding light on each aspect to provide a comprehensive understanding:
Bridgestone Corporation:
Bridgestone Corporation is a Japanese multinational motor vehicle parts manufacturer and, as of 2021, the world's largest tire manufacturer in terms of tire-related revenue.
The company's dominance is evidenced by its impressive nearly 30 billion U.S. dollars generated from its tire business in 2021.
The article highlights that the ranking of the world's largest tire manufacturers includes companies with headquarters in Japan, France, Germany, and the United States.
This global distribution signifies the widespread nature of the tire manufacturing industry, with key players operating on an international scale.
Goodyear Tire and Rubber Co.:
Goodyear Tire and Rubber Co. is mentioned as the fourth-ranked tire maker with headquarters in the United States.
While not the largest, Goodyear is a significant player in the industry, contributing to the diversity of the global market.
Tire-Related Sales Revenue:
Japan's Bridgestone is highlighted as the main player in the tire manufacturing business in terms of tire-related sales revenue.
This underscores Bridgestone's financial success and dominance in the specific segment of tire sales.
Continental (Germany):
Continental, a German company, is recognized as a major player based on overall revenue.
The article notes that Continental is involved in various fields, including the production of tires, brake systems, tachographs, and automotive safety.
It is essential to understand that Continental's revenue is not solely derived from tires but encompasses a broader spectrum of automotive-related products.
Business Focus and Revenue Distribution:
Bridgestone and Continental are contrasted in terms of their revenue sources. Bridgestone generates around 90 percent of its revenue from the tire segment, highlighting its specialization in this area.
On the other hand, Continental's revenue comes from diverse automotive fields, emphasizing its broad business portfolio beyond tires.
In conclusion, the tire manufacturing landscape is a dynamic and globally distributed industry, with key players like Bridgestone and Continental demonstrating unique strengths and strategies in their revenue generation. The nuances of their business focus and revenue distribution showcase the multifaceted nature of the automotive industry as a whole.
Michelin held 15.1 percent of the global tire market in 2022, making it the largest tire manufacturer worldwide in terms of sales. Bridgestone ranked second with a share of 14.2 percent of the global tire market.
Michelin held 15.1 percent of the global tire market in 2022, making it the largest tire manufacturer worldwide in terms of sales. Bridgestone ranked second with a share of 14.2 percent of the global tire market.
The global automotive tire market size was worth USD 122 billion in 2021 and is projected to reach USD 180 billion by 2030, registering a CAGR of 4.3% during the forecast period (2022 – 2030). Automotive tires are the externally visible, rubber-coated, cylinder-shaped part of a vehicle used to cover the wheel's rim.
Yes, technically Lego is the biggest manufacturer of tyres in the world. In fact, the production of Lego tyres significantly outnumbers other tyre manufacturers. Lego is primarily known for its construction toys, which include bricks, mini-figures, and other accessories.
As the largest tire distributor in the US, and the world's largest replacement tire distributor, American Tire Distributors (ATD) has handled more than a staggering 250 million tires.
As it turns out, there are technically only two tire manufacturers we can truly label as 'American. ' The two genuine American tire brands are Goodyear and Cooper Tires. These all-American brands are physically created and manufactured in the USA and aren't owned by a foreign counterpart.
As of June 2023, the top tire retailer is Discount Tire, who leads the tire market in both unit share (14%) and dollar share (15%) — both significant leads.
Following behind Discount Tire, the top tire retailers are (in order of share percent) Walmart, Costco, Firestone, and Goodyear.
Michelin retained the No. 1 ranking with tire-related revenue of $28.3 billion, comfortably ahead of No. 2 Bridgestone's estimated tire-centric total of $26.6 billion.
While one would assume this award goes to one of the tires commonly seen on the road like Bridgestone or Goodyear, it might be a surprise to know it's actually LEGO Group. That's right, the Guinness World Record holder for “largest tire manufacturer per year” goes to LEGO.
Michelin maintains reign as the world's most valuable and strongest tyre brand for seventh year. For the seventh consecutive year, Michelin has secured its position as the world's most valuable tyre brand, with a brand value of USD 7.9 billion.
Lego manufactures more tires than any other tire manufacturer. They produce approximately 318 million tires per year! They hold the Guinness World Record for largest tire manufacturer per annum.
Introduction: My name is Melvina Ondricka, I am a helpful, fancy, friendly, innocent, outstanding, courageous, thoughtful person who loves writing and wants to share my knowledge and understanding with you.
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