China Research and Intelligence Releases Tyre Top 50 Report
Companiesandmarkets.com has announced the publishing of a new research report from China Research and Intelligence on the world’s top 50 tyre enterprises, 2010-2011. The report gives an analysis on the enterprises whose sales ranked among world's top 50 in 2009, including their operations, sales volume, development trend, and investment in China, amongst other things. The report ranks the world’s top 75 tyre enterprises in 2010 according to sales revenue relative to tyre manufacturing in 2009. The top three, somewhat unsurprisingly, remain as Bridgestone, Michelin and Goodyear, though the sales revenue of these three companies witnessed a double-digit drop on 2008 figures.
The report says Bridgestone’s revenue dropped by 18 per cent to $20.80 billion; that of Michelin decreased 10 per cent to $19.60 billion; and that of Goodyear dropped 14.50 per cent to $15.60 billion. Continental, Pirelli, Sumitomo, Yoyohama Rubber, Hankook Tire and Cooper Tire made ranked fourth to ninth respectively.
The report says rankings between 11th and 20th changed dramatically, says the report. China’s Hangzhou Zhongce Rubber Company ranked 11th, the best performance among companies in Mainland China, increasing sales revenue by 11 per cent YoY to reach $2.36 billion. Toyo Tire and Kumho Tire, which used to rank among the top ten, separately dropped to the 12th and 13th. There were 13 tyre enterprises with global sales of over $2 billion in 2009, and 19 enterprises with global sales of over $1 billion, including Triangle Group of China, Giti Tire and Shangdong Linglong. The ranking partly comes from the “World’s Top 75 Tire Enterprises” decided by the US Crain Group.
The overall sales of global tyre industry decreased in 2009, continues the report, which was the industry’s first decline since the beginning of the current century. The total sales of Bridgestone, Michelin and Goodyear reached $55.75 billion, accounting for 44.10 per cent of the total sales of global tyres with 2.20 per cent decrease over 2008; the total sales of the top ten enterprises was $96.87 billion, decreasing by 1.50 per cent over 2008. Thus, the concentration of global tyre industry was lowered due to the impact of the international financial crisis.
In 2009, due to the vigorous demand of Chinese tyre market, Chinese and Indian tyre enterprises also achieved good results in spite of the international financial crisis. The annual sales revenue of many tyre companies in the two countries realized the growth rate of over 20 per cent, while the sales growth rate of Sailun Co. of China (95.10 per cent) and Apollo Tire of India (58.60 per cent) created “a miracle”, in the words of the report. Global tyre manufacturers and traders are suggested to pay closer attention to Chinese and Indian market.