A recent research report by Syndicated Analytics finds that the global tyre market size reached US$ XX Billion in 2022. The report also forecasts that the market is expected to reach US$ XX Billion by 2028, with a projected growth rate (CAGR) of XX% during the forecast period (2023-2028).
Tyres are flexible, circular automotive components that surround the rim of the wheels. They provide traction between the road and the vehicle and transfer the load of the automobile to the surface. They also absorb road shocks, transmit accelerating and braking forces to the ground, and help maintain or change the direction. As a result, tyres are widely used to enhance the driving experience and improve overall vehicle performance.
Michelin Group is one of the leading tyre manufacturers, established in 1889 and headquartered in Clermont-Ferrand, France. It primarily focuses on maintaining an optimal balance between personal fulfillment, economic development, and safeguarding the planet and its inhabitants. It offers services that improve transportation performance and solutions that enable customers to enjoy outstanding experiences while on the road. The technological leader in tyres, tracks and conveyor belts, and the world's leading brand of premium tyres for retail and business customers, the Michelin Group works closely with manufacturers to bring innovations to every market. It introduced the VISION concept comprising a biodegradable 3D printed smart concept tyre, which is airless, rechargeable, connected, customizable, and organic. Currently, the company operates nine research and development (R&D) centers worldwide, 116 production sites across 26 countries, a commercial presence in around 170 countries, as well as 1,24,000 employees across the globe.
Bridgestone Corporation is a leading tyre company based in Tokyo, Japan and was established in the year 1931. It provides tyres and tubes for passenger cars, aircraft, trucks, buses, motorcycles, scooters, construction and off-road mining vehicles, industrial and agricultural machinery, and other vehicles. It has been developing various tyres for safer, more comfortable, and more economical automobile use for its customers. Moreover, the company deals in passenger tyres, motorcycle tyres, commercial tyres, aircraft tyres and off-the-road tyres. Furthermore, it introduced the next-generation fuel-efficient tyre technology with high inflation pressure and superior fuel efficiency to mitigate the deformation of tyres. It also focuses on its vision of delivering social and customer value as a sustainable solutions company.
Continental AG is a German multinational automotive parts manufacturer specializing in various components and parts for the automotive and transportation industries. The company was founded in 1871 and is headquartered in Hanover, Germany. It has more than 230 locations in around 60 countries worldwide and employs about 200,000 people. The company's tyre business is one of its largest and most important divisions, and is known for producing high-quality tyres for various vehicles. Continental's tyre business produces and sells tyres under the Continental, Uniroyal, and Barum brands. The Company provides a wide range of tyres for different types of vehicles and driving conditions, including tyres for high performance, winter, and all-season use. It also has a strong presence in the commercial vehicle tyre market, producing tyres for long-haul trucks, buses, and other heavy-duty vehicles.
The Goodyear Tire and Rubber Company is a multinational tyre manufacturing company founded in 1898 by Frank Seiberling. The company is headquartered in Akron, Ohio, and is one of the world's largest tyre manufacturers. Goodyear specializes in the design, manufacture, marketing, and sale of tyres for a wide range of vehicles, including cars, trucks, SUVs, race cars, airplanes, and heavy equipment. The company's products are sold under the Goodyear, Dunlop, and Kelly brands, among others. Goodyear has a strong focus on innovation and technology, investing heavily in research and development to improve the performance, safety, and sustainability of its products. The company has also made a commitment to reducing its environmental impact and implementing sustainable practices in its manufacturing and operations. In addition to tyres, Goodyear manufactures and sells other rubber products such as hoses, belts, and power transmission products.
Sumitomo Corporation is a multinational conglomerate that operates in various industries, including the tyre business. The company's tyre division, Sumitomo Rubber Industries, is one of the largest tyre manufacturers in the world and produces a wide range of tyres for cars, trucks, motorcycles and other vehicles. Sumitomo Rubber Industries was founded in 1909 and is headquartered in Kobe, Japan. The company produces and sells tyres under various brands, including Dunlop, Falken, and Ohtsu. Sumitomo Rubber Industries has a strong commitment to technology and innovation, investing heavily in research and development to improve the performance, safety, and sustainability of its products. The company has a global presence, with manufacturing and distribution facilities in several countries worldwide.
Pirelli Tyre S.p.A is an Italian multinational company that specializes in the design, development, production, and marketing of tyres for cars, motorcycles, and bicycles. The company was founded in 1872 and is headquartered in Milan, Italy. Pirelli is one of the world's leading tyre manufacturers, with a strong global presence and a reputation for producing high-quality, high-performance tyres. The company's product line includes a wide range of tyres for different types of vehicles, including high-performance sports cars, luxury vehicles, and commercial trucks. Pirelli's focus on technology and innovation is evident in its extensive research and development efforts, which have resulted in the development of cutting-edge tyre technologies. Pirelli has also made a commitment to sustainability, implementing environmentally friendly practices throughout its operations and actively working to reduce its carbon footprint.
Yokohama Tire Corporation is a leading tyre manufacturer based in Japan that specializes in the production of tyres for a wide range of vehicles, including cars, trucks, buses, and motorcycles. The company was founded in 1917 and has a global presence, with manufacturing and distribution facilities in several countries worldwide. Yokohama's product line includes a wide range of tyres for different types of vehicles, including high-performance sports cars, luxury vehicles, and commercial trucks. The company has a strong focus on technology and innovation, investing heavily in research and development to improve the performance, safety, and sustainability of its products. Yokohama is also involved in motorsports, and its tyres are used in a variety of motorsports competitions around the world.
Hankook Tire and Technology Co., Ltd is a prominent global tyre manufacturer based in South Korea. The company was founded in 1941 and has a strong reputation for producing high-quality, high-performance tyres for a wide range of vehicles. The company has a strong focus on technology and innovation, investing heavily in research and development to improve the performance, safety, and sustainability of its products. Hankook's product line includes a wide range of tyres for different types of vehicles, including high-performance sports cars, luxury vehicles, and commercial trucks. The company has a global presence with manufacturing and distribution facilities in several countries around the world.
Toyo Tires was founded in 1945 and has grown to become one of the world's leading tyre manufacturers, with a strong presence in many countries. The company is known for its high-performance tyres and its commitment to innovation and quality. The company offers a wide range of products, including tyres for passenger cars, light trucks, SUVs, and commercial vehicles, as well as tyres for racing and competition. In addition to its tyre manufacturing operations, Toyo Tires is also involved in research and development, working to develop new technologies and improve the performance of its tyres. The company is committed to sustainability and has implemented various eco-friendly measures in its manufacturing process, such as reducing energy consumption and emissions.
Kumho Tire Co., Ltd. is a South Korean tyre manufacturing company. It was founded in 1960 and has grown to become one of the leading tyre manufacturers in South Korea and the world. It has several business units, including Original Equipment (OE), Replacement, Motorsports, Industrial, Overseas, R&D and Quality Control. The Company has a strong commitment to sustainability and has implemented various eco-friendly measures in its manufacturing processes, such as reducing energy consumption and emissions. The company operates a recycling program for its used tyres and actively promotes the use of eco-friendly tyres. In addition, Kumho Tire has a global network of distribution and sales, with subsidiaries and offices in over 180 countries worldwide.
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