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2024 Top 75 Tire Manufacturers and Suppliers: Leading the Industry in Quality and Innovation

2024 Top 75 Tire Manufacturers and Suppliers: Leading the Industry in Quality and Innovation

The latest global rankings of tire manufacturers have been released for 2024, showcasing the industry’s leaders based on tire business revenue. This year, the rankings continue to reflect past trends, with the top 10 tire companies accounting for over 60% of the total sales among the top 75 tire manufacturers.

tire manufacturers

Overview of the Rankings

The annual list evaluates tire manufacturers solely on the revenue generated from tire sales, excluding third-party material sales and non-tire related revenues. This approach ensures a fair comparison among companies.

2024 Rank

2023 Rank

Tire Company

2023 Sales (Million)

2022 Sales (Million)

Sales Change (%)

Rank Change

1

1

Michelin

27,577.00

27,350.00

0.83%

 

2

2

Bridgestone

25,453.60

25,980.00

-2.03%

 

3

3

Goodyear

17,262.00

17,892.30

-3.52%

 

4

4

Continental

12,500.00

12,420.00

0.64%

 

5

6

Pirelli

7,189.00

6,956.50

3.34%

1

6

5

Sumitomo Rubber

7,165.00

7,160.00

0.07%

-1

7

7

Hankook Tire

6,643.20

6,310.00

5.28%

 

8

8

Yokohama

6,228.60

5,744.90

8.42%

 

9

9

Zhongce Rubber

4,772.40

4,523.90

5.49%

 

10

12

Sailun Group

3,603.50

3,293.60

9.41%

2

11

11

Toyo Tire

3,598.40

3,470.00

3.70%

 

12

10

Maxxis/ Cheng Shin Rubber

3,334.90

3,676.90

-9.30%

-2

13

16

Kumho Tire

3,096.20

2,758.80

12.23%

3

14

13

Apollo Tires

3,090.00

3,136.90

-1.50%

-1

15

14

MRF

2,995.00

2,876.10

4.13%

-1

16

15

Giti Tire

2,966.00

2,838.00

4.51%

-1

17

17

Linglong Tire

2,842.60

2,464.60

15.34%

 

18

18

Nexen Tire

2,192.10

2,134.50

2.70%

 

19

19

JK Tyre

1,822.20

1,871.40

-2.63%

 

20

26

PTG

1,483.30

1,697.30

-12.61%

6

21

25

Triangle Tire

1,459.70

1,326.50

10.04%

4

22

23

Double Coin Tire

1,431.80

1,396.30

2.54%

1

23

22

Ceat

1,424.40

1,419.90

0.32%

-1

24

28

Prinx Chengshan

1,374.90

1,225.90

12.15%

4

25

30

Guizhou Tire

1,345.00

1,073.10

25.34%

5

26

31

Sun-Tire

1,250.00

N.A.

N.A.

5

27

20

Nokian Tires

1,142.00

1,765.00

-35.30%

-7

28

24

Kenda Tire

1,104.00

1,379.20

-19.95%

-4

29

33

Qingdao Sentury

1,103.90

910.8

21.20%

 

30

27

Balkrishna Industries

1,025.10

1,134.70

-9.66%

-3

31

21

Titan International

1,002.00

1,085.00

-7.65%

-10

32

34

Shandong Haohua

974.8

908.6

7.29%

2

33

45

Shandong Jinyu

953

605.6

57.36%

12

34

37

Shandong Huasheng

875.8

736

18.99%

3

35

35

BRISA

856.2

849.5

0.79%

 

36

N.A.

Shandong Yongsheng

855.8

829.3

3.20%

N.A.

37

38

Shandong Changfeng

822.3

724.8

13.45%

 

38

41

Shandong Wanda Boto

809.5

680.4

18.97%

3

39

36

Sichuan Haida

793.5

764.4

3.81%

-3

40

39

Aeolus Tire

792.6

689.4

14.97%

-1

41

44

Zodo Tire

790.8

655.2

20.70%

3

42

43

Wanli Tire

768

674.5

13.86%

 

43

40

O.J.S.C. Cordiar

N.A.

750

N.A.

-3

44

47

Jiangsu General  Science

706

574.4

22.91%

3

45

N.A.

Tercelo Tire

680.3

213.3

218.94%

N.A.

46

32

Qingdao Double Star

657.7

958.5

-31.38%

-14

47

42

Carlstar Group

615

680

-9.56%

-5

48

53

Zhongyi Rubber

585.7

350

67.34%

5

49

48

Fangxing Rubber

561

562.3

-0.23%

-1

50

49

Shandong Yongfeng Tire

547.7

516.9

5.96%

-1

51

50

Chaoyang Longma

511.6

471

8.62%

-1

52

29

Trelleborg

500

1,175.00

-57.45%

-23

53

51

Xuzhou Armour Rubber

380.8

427.7

-10.97%

-2

54

52

TVS Srichakra

355.2

366.3

-3.03%

-2

55

54

Barez Tire

355

340

4.41%

-1

56

60

Tianjin Wanda

340

239

42.26%

 

57

N.A.

Shandong Xinghongyuan

314.3

213.3

47.35%

N.A.

58

55

Shandong Sanli Tire

307.3

294.2

4.45%

-3

59

46

Petlas Tyre

300

N.A.

N.A.

-13

60

57

Shandong Mileqi

281.9

288.3

-2.22%

-3

61

58

Shandong Bayi Rubber

274.8

249

10.36%

-3

62

57

Shandong Cocrea Tire

274.8

N.A.

N.A.

-4

63

64

Yanchang Petroleum Rubber

274.5

215.5

27.38%

 

64

58

Nankang Rubber

251.5

249

1.00%

-6

65

66

Shandong Fengyuan Tire

228.1

186.6

22.24%

 

66

61

Southern Rubber

223.5

227.4

-1.72%

-5

67

63

FATE

N.A.

200

N.A.

-4

68

68

ÖZKA Lastik ve

191.2

170

12.47%

 

69

65

DaNang Rubber

188.7

209.4

-9.89%

-4

70

N.A.

Mahansaria Tire

163

122

33.61%

N.A.

71

69

Nizhnekamskshina

N.A.

153.3

N.A.

-2

72

72

Specialty Tires

N.A.

150

N.A.

 

73

67

Hwa Fong Rubber

149.7

181.8

-17.66%

-6

74

73

Service Industrie

141.1

138.6

1.80%

-1

75

75

Ralson Tyres

134.4

141.4

-4.95%

0

Key Highlights:

  • Leading tire manufacturers: Michelin, Bridgestone, Goodyear, and Continental remain the top four tire manufacturers globally. Pirelli has climbed to the fifth position, marking significant growth in the industry.
  • Growth in Numbers: This year, 23  tire manufacturers improved their rankings, with 17 of those based in China. Notably, four new companies have joined the list, three of which are Chinese.

Revenue Insights

In 2023, Michelin generated $27.5 billion, leading the pack by about $2 billion over Bridgestone, whose revenue was approximately $25.5 billion. Goodyear ranked third with $17.3 billion, despite a reported decline of $600 million in sales.

Tire manufacturers Sales Growth

The overall sales among the top 75 manufacturers saw an increase compared to 2022, largely due to the recovery of the global economy post-pandemic. Many Chinese tire manufacturers reported double-digit growth, with notable increases from Shandong Jinyu Tire and Tercelo Tire.

Market Dynamics

The top 5 tire manufacturers continue to dominate the market, collectively holding nearly 50% of the global tire market share. Meanwhile, companies ranked 6-10 account for about 10%, leaving the remaining 40% to other tire manufacturers.

top 75 tire manufacturers

Chinese tire manufacturers on the Rise

Almost half of the top 75 tire manufacturers are based in China, with several achieving remarkable sales growth. For instance, Sailun Group entered the top ten for the first time, reflecting a steady revenue increase since becoming the 17th largest tire manufacturer in 2020.

SAILUN tire

New Entrants and Market Changes

This year saw the inclusion of three new Chinese tire manufacturers: Shandong Yongsheng Rubber Group, Tercelo Tire Group, and Shandong Xinghongyuan Tire. Additionally, India’s Mahansaria Tyres Pvt. made its debut in the rankings.

leading tire manufacturers

Challenges and Future Outlook

Despite the positive growth outlook, the tire industry faces challenges such as rising raw material costs and shipping expenses. Most tire manufacturers anticipate continued growth in 2024, although the environment remains competitive.

top 5 tire manufacturers

Conclusion

The tire industry is characterized by its strong competition and evolving market dynamics. The top manufacturers are not only leaders in revenue but also shape the global tire market through innovation and strategic expansion. As the market continues to grow, these companies are committed to enhancing their offerings and maintaining their positions.

Choosing a tire manufacturers or supplier from this top 75 list can significantly impact your business’s success. With their commitment to quality, innovation, and customer service, these industry leaders are well-equipped to meet the evolving needs of the tire market.

tire manufacturers
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