The automotive industry is one of the largest sectors in the world, and one study in 2018 placed the net worth of the entire industry at over $2 trillion. One of the major contributors to this sector is the tire manufacturing industry. This industry continues to boom on its own terms and is currently estimated to be worth roughly $180 billion.
Who is the biggest player in the game, though? We conduct a thorough analysis of the industry to reveal its biggest brands to inform you who is the largest tire manufacturer currently.
The largest tire manufacturers in the world include:
The Largest Tire Manufacturer in the World
For nearly a decade, Bridgestone has cemented its place as the largest tire manufacturer in the world. In 2019, Bridgestone tires managed to rule the roost by acquiring a total revenue of $27.22 billion.
It does this by producing tires in various segments such as:
- Passenger cars.
- Radial and bias truck tires.
- Light truck tires.
- Earth mover tires.
- Agriculture tires.
- Two wheeler tires.
- Aircraft tires.
Bridgestone belongs to Bridgestone Corporation, a Japanese multinational company that was first established in 1931. Its founder is Shojiro Ishibashi, and the brand was set up in Fukuoka, Japan.
The brand first began contributing to the tire industry during the Second World War. During this period, the entirety of the Bridgestone’s tire output was focused on creating tires for the war effort.
Although they did briefly experiment with producing motorcycles after the end of the war, the vast majority of their revenue was generated from supplying motorcycle tires to established brands such as Honda, Yamaha and Suzuki.
The brand did pay a lot of attention to technology and innovation, and this allowed them to make rapid inroads within the industry in the 1950s. They became the first brand to start selling rayon cord tires in Japan, and it only took them until 1953 to have their sales surpass the 10 million yen mark.
By 1961, they were listed on the stock exchange and began looking to expand their operations overseas.
One of the biggest tie-ups in the following decades would be between Bridgestone tires and the Firestone Tire and Rubber Company of the US. Together they became known as Bridgestone America and officially established operations in 1967.
This is one of the most successful sales subsidiaries established by the brand, but by no means its only one. Currently, Bridgestone produces 25 million tires every year with the help of their 17 national subsidiaries and two distributors.
Other Big Players
If you want to purchase a new tire and you’re looking beyond the biggest name in the industry, here’s a list of some of the other big players in the market currently along with their revenue in 2018. The world’s largest tire manufacturers include:
- Michelin SCA — $25.40 billion.
- Goodyear Tire & Rubber Co. — $15.37 billion.
- Continental AG — $13.11 billion.
- Sumitomo Rubber Industries — $6.81 billion.
- Pirelli & C. SpA — $6.5 billion.
- Hankook Tire Co. — $6.12 billion.
- Zhongce Rubber Group — $4.8 billion.
- Yokohama Rubber Company — $4.14 billion.
- Cheng Shin Rubber Industry Co. — $3.74 billion.
- MRF Ltd — $3.5 billion.
While some of these companies, such as Continental, generate revenue from other automotive parts such as brake systems and safety components, Bridgestone generates around 90 percent of its revenue from tires.
Each of these brands continues to make waves around the world year after year thanks to their excellent quality and production. If any of these are available in your region, you can easily pick up these tires without worrying about the quality or performance.
What Company Manufactures the Most Tires?
The surprising answer to this question would be the children’s toy brand Lego Group. It is the world’s largest tire manufacturer in terms of numbers, as it produces more than 700 million tires annually. This is because the vast majority of toys and miniatures by Lego Group require tires to run.
In terms of automobile tire manufacturers, though, Bridgestone continues to stand head and shoulders above the competition with an annual production of 25 million tires each year.
Who Is the Largest Tire Manufacturer in the United States?
The rankings do shift around a fair bit when it comes to tire manufacturers based in the US and the Americas in general. In this segment, Goodyear emerges as a clear winner with a total revenue of $15.37 billion in 2018.
The Goodyear Tire and Rubber Company was first established as early as 1898 by Frank Seiberling. It was founded in Akron, Ohio, and is known to produce tires for automobiles, motorcycles, light trucks, commercial trucks, SUVs, race cars, farm equipment and airplanes.
Interestingly, the brand has an excellent record when it comes to racing events. In the history of Formula One racing, no tire brand has more wins or Constructors’ Championships than the Goodyear brand.
In recent years, it has moved past being the most popular successful tire manufacturer in the Americas and has expanded its operations to other parts of the world.
It now has subsidiaries based in various countries such as Poland, Germany, Australia, Japan and Slovenia and is truly an international brand at this point.
On-Road and Off-Road Excellence
From the research presented above, it is clear that Bridgestone is the most successful and world’s largest tire manufacturer. If you restrict the scale and scope to just the US, then Goodyear Rubber and Tire Co. emerges as a clear winner.
Both of these brands, along with the other companies listed above, are known for being the very best in the industry across the world. You will not be faulted for picking up their products and expecting superior quality from their tires. In all likelihood, they will not disappoint you either!