The global tire industry is a massive market valued at over $200 billion annually. It is dominated by a handful of large manufacturers that operate plants all over the world.
The top 10 tire makers account for over 70% of total global production.
Tires are an essential automotive component and replacement tires represent a significant share of industry revenues.
Major manufacturers compete aggressively on brand, performance, and innovation.
New tire technologies are continuously being developed to improve fuel efficiency, safety, ride comfort, and durability.
The largest tire companies have a truly global footprint, with production and R&D facilities spread across the Americas, Europe, and Asia Pacific.
Leading brands leverage their scale, vertical integration, advanced technologies, and distribution networks to maintain a competitive advantage.
Most continue to expand into new markets and increase production capacity to meet growing global vehicle demand.
This article will profile the top 10 tire manufacturers worldwide. We will look at their key brands, global market share, manufacturing capacity, R&D spending, and recent strategic initiatives aimed at sustaining growth.
Understanding the major players provides insight into industry dynamics and future trends.
1. Bridgestone
Bridgestone was founded in 1931 and is headquartered in Tokyo, Japan. The company generated over $27 billion in revenue in 2021.
Bridgestone is the world’s largest tire and rubber company. It has over 180 manufacturing plants and R&D facilities around the world with a global production capacity of over 200 million tires per year.
Bridgestone manufactures tires for a wide variety of applications including passenger cars, trucks, buses, aircraft, motorcycles, agricultural equipment, industrial equipment, and more. The company’s major consumer tire brands include Bridgestone, Firestone, Dayton, and Fuzion.
Bridgestone has the leading original equipment and replacement tire market share worldwide. The company has a diverse portfolio of tire and diversified products and holds the top global market share position in tires for passenger cars, light trucks, trucks & buses, motorcycles, and aircraft tires.
2. Michelin
Michelin is headquartered in Clermont-Ferrand, France and was founded in 1889. Michelin is one of the largest tire manufacturers in the world with annual revenues of over $20 billion euros.
Michelin manufactures tires for cars, trucks, buses, aircraft, motorcycles, earthmovers, agriculture and other applications.
The company operates 68 production facilities in 17 countries around the world with a combined production capacity of over 184 million tires per year.
Michelin has a strong global market share of around 15% for passenger vehicle tires and is especially dominant in the European market with over 20% market share.
The company is continually investing in R&D and manufacturing to expand capacity and bring innovative tire technologies to market.
3. Goodyear
Goodyear is one of the leading tire manufacturers based in the United States. Founded in 1898 and headquartered in Akron, Ohio, Goodyear has grown to become a Fortune 500 company with annual revenues of over $15 billion.
Goodyear manufactures tires for a wide range of vehicles including cars, trucks, buses, aircraft, motorcycles, mining equipment, industrial vehicles and more.
The company operates over 60 manufacturing facilities across 22 countries and has an estimated yearly production capacity of over 150 million tires.
Goodyear enjoys a significant share of the global tire market, estimated to be around 13%.
The company has a strong presence across North America with a market share of approximately 35% in replacement consumer tires.
Goodyear continues to invest in R&D and new manufacturing technologies to improve tire performance, develop new products and maintain competitiveness.
Some of Goodyear’s major tire brands include Eagle, Wrangler, Assurance, Kelly, Dunlop, Sava and Fulda.
With its extensive distribution network and trusted brands, Goodyear is poised for continued growth and success in the tire manufacturing industry.
4. Continental
Continental is one of the top 4 tire manufacturers in the world, headquartered in Hanover, Germany.
Founded in 1871, Continental has grown into a powerhouse in the tire industry with annual revenues of over $40 billion.
Continental has over 240 production locations worldwide with a tire production capacity of over 180 million per year.
The company produces tires for passenger cars, trucks, buses, two-wheelers, mining, agriculture and industrial vehicles.
Continental is on the cutting edge of tire technology and continues to invest heavily in R&D to develop innovative products like ContiSeal self-sealing tires and ContiSilent technology for reduced road noise.
With a diverse portfolio of premium tire brands like Continental, General Tire, Gislaved and Semperit, the company commands approximately 16% of the global tire market share.
Continental tires are known for their German engineering and strict quality control standards.
The company has a strong presence in Europe but also substantial market share in the Americas and Asia Pacific regions.
As a top player in one of the most competitive global industries, Continental is poised for continued success through technological leadership and strategic growth worldwide.
5. Pirelli
Founded in 1872 and headquartered in Milan, Italy, Pirelli is a globally recognized tire manufacturer with over $5 billion in annual revenue.
Pirelli has a diverse product portfolio, producing tires for cars, motorcycles, trucks, buses, agricultural vehicles, industrial vehicles and bicycles.
The company has 19 tire production facilities around the world, with a combined production capacity of around 160,000 metric tons per year.
Pirelli held approximately 6% of the global tire market share in 2021. While not as large as Bridgestone, Michelin or Goodyear, Pirelli has carved out a niche as a premium tire brand known for high performance.
The company supplies tires to many elite motorsports series like Formula One and World Rally Championship.
Pirelli focuses on high-end consumer and specialty tires more than mass market options.
6. Hankook
Hankook is headquartered in Seoul, South Korea. The company was founded in 1941 and posted revenue of approximately $7.1 billion in 2021.
Hankook manufactures a wide range of tires for passenger cars, trucks, buses, and other specialty vehicles.
The company operates 8 manufacturing facilities worldwide, with the capacity to produce over 174 million tires per year.
Hankook commands approximately 5% of the global tire market by volume. The company sells to over 180 countries and is especially strong in the replacement tire segment in Europe and North America.
Hankook continues to invest in R&D and expanding production capacity to further grow its market share.
7. Sumitomo Rubber
Sumitomo Rubber Industries is headquartered in Kobe, Japan and was founded in 1909. The company has annual revenues of around $7 billion.
Sumitomo Rubber has a diverse product portfolio, manufacturing tires for cars, trucks, buses, construction equipment, industrial vehicles, aircraft and more.
The company has 8 manufacturing plants in 6 countries with a global production capacity of around 100 million tires per year.
Sumitomo Rubber holds approximately 6% of the global tire market share. Key markets for the company include Japan, North America, Europe and Asia.
Sumitomo Rubber supplies OEM tires to major Japanese automakers like Toyota, Nissan and Honda. The company also sells tires under its own Dunlop and Falken brands.
8. Yokohama
Yokohama is a Japanese company headquartered in Tokyo that manufactures tires and other rubber products.
Founded in 1917, Yokohama has grown to generate over $5 billion in annual revenue.
Yokohama’s main products include tires for passenger cars, trucks, buses, construction and mining equipment, industrial vehicles, and agricultural equipment.
The company has a global production capacity of over 100 million tires annually from plants located in Japan, the United States, China, Thailand, Philippines, Russia, and more.
Yokohama holds approximately 3-4% of the global tire market share. While smaller than the industry giants, Yokohama has a reputation for making high-performance tires and sponsoring motorsports teams.
Key tire lines include ADVAN high-performance tires and GEOLANDAR SUV and light truck tires.
9. Cooper Tire
Cooper Tire & Rubber Company is a leading tire manufacturer headquartered in Findlay, Ohio.
Founded in 1914, Cooper specializes in replacement tires for passenger cars, light trucks, SUVs, race cars, and commercial trucks.
Cooper operates 8 manufacturing facilities with over 12,000 employees worldwide. The company has an annual revenue of $2.7 billion.
Cooper’s major manufacturing plants are located in Findlay, Ohio, Texarkana, Arkansas, Tupelo, Mississippi, China, and Serbia.
Cooper’s product portfolio consists of respected brands like Cooper, Mastercraft, Starfire, Roadmaster, and Avon.
The company has the capacity to produce over 75,000 tires per day across its plants.
Cooper Tire has a global market share of 6% in the tire industry. The company has a strong presence in North America with 24% market share in light vehicle tires.
Cooper is working to expand its international footprint, especially in China.
Conclusion: Navigating the Future of Tire Manufacturing
The tire industry, a $200 billion global titan, is steered by giants like Bridgestone, Michelin, and Goodyear, who dominate over 70% of the market.
Their success lies in relentless innovation and the pursuit of efficiency, safety, and sustainability in tire production.
These leaders are expanding their footprints, refining their technologies, and leveraging their vast networks to stay ahead in a competitive field.
They’re not just manufacturing tires; they’re shaping the future of mobility by introducing eco-friendly and smart tire solutions suited for modern demands, including the rise of electric vehicles.
As the journey toward sustainability and innovation continues, these tire manufacturers are positioned at the forefront, driving the industry towards a greener, more efficient future.
Their role highlights a dynamic industry on the path of exciting growth and transformation, promising a safer and more sustainable tomorrow.
