The global tire market exhibited moderate growth during 2015-2020. There is currently a rise in the demand for construction vehicles on account of increasing investments in infrastructure by governing agencies of several countries. This represents one of the key factors offering lucrative growth opportunities to market players. Besides this, rapid urbanization, rising consumer expenditure capacities and the growing global population are also creating a positive market outlook. Furthermore, due to rising environmental concerns, major players operating in the industry are introducing ecological, flat-run and nitrogen-based tires. On account of these factors, IMARC group expects the market to grow at a CAGR of around 4% during the forecast period (2021-2026).
Request Free Sample Report: https://www.imarcgroup.com/tyre-manufacturing-plant/requestsample
List of Top Tire Manufactures, Companies and Brands:
Headquarters: Clermont-Ferrand, France
Michelin Group is one of the leading manufacturers of tires that focuses on maintaining an optimal balance between personal fulfillment, economic development and safeguarding the planet and its inhabitants. It introduced VISION, a biodegradable 3D printed smart concept tire, which is airless, connected, rechargeable, customizable, and organic. It currently has nine research and development (R&D) centers around the world, 116 production sites in 26 countries, a commercial presence in 170 countries and 1,24,000 employees worldwide.
Headquarters: Tokyo, Japan
Bridgestone Corporation provides tires and tubes for passenger cars, trucks, buses, aircraft, construction and off-road mining vehicles, industrial and agricultural machinery, motorcycles, scooters, and other vehicles. The company has introduced the next-generation fuel-efficient tire technology that has high inflation pressure and superior fuel efficiency to mitigate the deformation of tires. It also continues to focus on its vision of providing social and customer value as a sustainable solutions company.
Headquarters: Hanover, Germany
Continental AG is a company that develops pioneering technologies and services for sustainable and connected mobility of people and their goods. It introduced ContiSense, which utilizes sensors to measure the tread depth and temperature and alerts drivers about tire damage. It also developed the ContiAdapt model that adjusts tire pressure and rim width to adapt to a variety of road conditions.
The Goodyear Tire & Rubber Company
Headquarters: Ohio, United States
The Goodyear Tire & Rubber Company is one of the biggest tire companies worldwide. It has two innovation centers in Akron, Ohio and Colmar-Berg, Luxembourg that strive to develop state-of-the-art products and services. The company introduced the BH03 concept in 2015, wherein the tire generates electricity when it rolls during normal driving conditions.
Sumitomo Rubber Industries, Ltd.
Headquarters: Hyogo, Japan
Sumitomo Rubber Industries, Ltd. offers a wide range of innovative and unique products in the field of sports and industrial products, along with tires. It is extensively investing in research and development (R&D) activities on its Smart Tyre Concept and aims to develop new tires and peripheral services that provide greater performance.
Pirelli Tyre C. S.p.A
Headquarters: Milan, Italy
Pirelli Tyre C. S.p.A is a company that produces and sells tires for cars, motorcycles, and bicycles. It has a diversified geographical presence with 19 facilities in 12 countries and a commercial footprint of around 17,000 points of sale in more than 160 countries. The company primarily offers its products to the high-end consumer segment around the world.
Yokohama Rubber Co., Ltd.
Headquarters: Tokyo, Japan
Yokohama Rubber Co., Ltd. was originally established as a joint venture between Yokohama Electric Cable Manufacturing Company and BFGoodrich Company of the United States. It produces rubber products, including automobile tires, tubes, and conveyor belts for industrial use. It also manufactures passenger aircraft parts and sports goods and offers information processing services and real estate leasing.
Hankook Tire Co., Ltd.
Headquarters: South Korea
Hankook Tire Co., Ltd. is a prime tire manufacturing company that produces, recycles, processes, and markets tires. It has introduced the airless non-pneumatic tire (NPT) Hankook iFLex, which is produced using eco-friendly materials. The company aims to pursue its proactive leadership in passion, innovation, collaboration globally.
Toyo Tire U.S.A. Corp.
Headquarters: California, United States
Toyo tire U.S.A. Corp. delivers innovation, quality, performance, and excellent service worldwide. The company offers a selection of premium replacement tires for every model including, SUVs, light trucks, high-performance cars, luxury vehicles, and commercial trucks. These tires are mainly built in the United States at the company’s state-of-the-art factory in Bartow County, Georgia.
The Kumho Tire Company
Headquarters: Gwangju, South Korea
The Kumho Tire Company offers an innovative approach to product development, market expansion, technical progression, and environmental awareness. The company aims to provide customers with safety and convenient mobility through new technology and solution. Its main products include automobile tires and tubes, which are utilized in sedan, SUV, RV, truck, and bus.
About IMARC Group: IMARC Group is a leading market research and consulting company that offers management strategy and market research worldwide. The company has done multiple projects on the global tire market and regional North America, GCC, Asia Pacific, Europe, Saudi Arabia, United States, which has enabled the clients to set up and expand their businesses successfully. Some of the company’s offerings include:
- Market Research
- Plant setup
- Plant Expansion
- Marketing and sales
- Procurement and Distribution
- Innovation and Product Development