Top 13 World’s Biggest Tire Companies

Top 13 World’s Biggest Tire Companies

Top 13 World’s Biggest Tire Companies– Based on the annual report of the company in 2022, there are 13 World’s Biggest Tire Companies. These companies have huge revenue of income with trillion US dollars of Assets. Statistically, some people in the world know these companies, or probably, we use these tire products in our vehicles (cars, motorcycles, or bicycles).

Top 13 World’s Biggest Tire Companies- King of Tire

Tires are devices that cover the wheels of a wheel. Commonly, Tires are an indispensable part of vehicles (cars, motorcycles, or bicycles) and are used to reduce vibration caused by road surface irregularities, protect the vehicle from damage, and provide stability between the vehicle and the ground to increase acceleration and facilitate movement. Most tires that exist today, especially those used for motor vehicles, are manufactured from synthetic rubber, although they can also be used from other materials such as steel.

World's Largest Tire Companies in 2022

In 2022, there are thirteen world’s biggest tire companies and commonly we know these companies because we usually used their products. Here are thirteen worlds’ biggest tire companies based on the net income that they earned in 2022. Overall, this data of revenue and income of each company was obtained from the annual report of the company in 2022. Basically, the annual report is a published report of a company that usually describes the business, financial, operational performance in the specific year annually.


The Rank of 13 World’s Biggest Tire Companies According to Net Income

Rank CompaniesRevenueRevenueNet IncomeNet Income
Origin CurrencyUS Dollar Origin CurrencyUS Dollar
1Bridgestone4,110 Billion Yen 36.1 Billion482 Billion Yen 4.2 Billion
2Michelin28.5 Billion Euro 32 Billion2 billion Euro 2.26 Billion
3Pirelli6.6 Billion Euro7.4 Billion435 Million Euro491 Million
4Yokohama860 Billion Yen7.5 Billion47 Billion Yen 413 Million
5Toyo Tires497 Billion Yen 4.3 Billion47 Billion yen 413 Million
6Sumitomo Tires1,098 Billion Yen9.6 Billion 29 Billion Yen 255 Million
7Goodyear20.8 Billion US Dollar 20.8 Billion 202 Million US Dollar 202 Million
8Cheng Shin Rubber98.6 Billion TWD3.5 Billion4.9 Billion TWD176 Million
9Apollo246 Billion INR3.1 Billion11 Billion INR143 Million
10Hankook 1 Trillion KRW840 Million166 Billion KRW139 Million
11Continental39.4 Billion Euro44.5 Billion112 Million Euro125 million
12MRF22,578 Rs Crores2.9 billion816 Rs Crores106 Million
13Nokian Tyres1.7 Billion Euro 1.9 Billion(-175 Million Euro)(-197 Million)
Source : Annual Report, 2022
Origin Currency : Currency officially Used at the Annual Report
US Dollar : Converted Currency from Origin Currency into US Dollar
Currency Rate :
1 Japanese Yen (JPY) = 0.0088 US Dollar (USD)
1 Euro = 1.13 US Dollar (USD)
1 Korean Won (KRW)= 0.00084 US Dollar (USD)
1 Rupee India (INR) = 0.013 US Dollar (USD)
1 Rs Crores = 10 Million Indian Rupee
1 Taiwan Dollar (TWD) = 0.036 US Dollar (USD)

As additional data, we also add some data related to the company’s financial position. These data are assets and liabilities from each company. Assets and liabilities express the financial condition of each company. Commonly, these indicators are in the balance sheet of the annual report. Here are thirteen world’s biggest tire companies based on the assets of each company


The Rank of 13 World’s Biggest Tire Companies According to Assets

Rank CompaniesAssetsAssetsLiabilitiesLiabilities
Origin CurrencyUS Dollar Origin CurrencyUS Dollar
1Bridgestone4,961 Billion Yen 43.6 Billion1,949 Billion Yen 17.1 Billion
2Continental37.9 Billion Euro42.8 Billion 24.1 Billion Euro27.2 Billion
3Michelin35.3 Billion Euro 39.8 Billion18.1 Billion Euro20.4 Billion
4Goodyear22.4 Billion USD 22.4 Billion 16.9 Billion USD16.9 Billion
5Sumitomo Tires1,225 Billion Yen 10.78 Billion661 Billion Yen 5.8 Billion
6Pirelli9.4 Billion Euro10.6 Billion4.4 Billion Euro 4.9 Billion
7Yokohama1,151 Billion Yen 10.1 Billion 527 Billion Yen 4.6 Billion
8Cheng Shin Rubber145 Billion TWD5.2 Billion61.4 Billion TWD2.2 Billion
9Toyo Tires549 Billion Yen 4.8 Billion251 Billion Yen 2.2 Billion
10Hankook 4.3 Trillion KRW3.6 Billion445 Billion KRW373 Million
11Apollo273 Billion INR3.5 Billion144 Billion INR1.8 Billion
12MRF24,023 RS Crores3.1 Billion9,514 Rs Crores1.2 Billion
13Nokian Tyres2.2 Billion Euro2.48 Billion776 Million Euro876 Million
Source : Annual Report, 2022
Origin Currency : Currency officially Used at the Annual Report
US Dollar : Converted Currency from Origin Currency into US Dollar
Currency Rate :
1 Japanese Yen (JPY) = 0.0088 US Dollar (USD)
1 Euro = 1.13 US Dollar (USD)
1 Korean Won (KRW)= 0.00084 US Dollar (USD)
1 Rupee India (INR) = 0.013 US Dollar (USD)
1 Rs Crores = 10 Million Indian Rupee
1 Taiwan Dollar (TWD) = 0.036 US Dollar (USD)



Brief Description of 13 World’s Biggest Tire Companies


Top 13 World’s Biggest Tire Companies- Brief Description

1.Continental

Histocally, Continental was founded in Hanover in 1871 as the stock corporation “Continental-Caoutchouc- und Gutta-Percha Compagnie”. They have manufactured at the main factory in Hanover included soft rubber products, rubberized fabrics, and solid tires for carriages and bicycles.  Today, Continental is the top 5 automotive suppliers worldwide. As a supplier of brake systems, systems, and components for powertrains and chassis, instrumentation, infotainment solutions, vehicle electronics, tires, and technical elastomers, Continental strives to contribute to enhancing safe driving and global climate protection.  Along with the development of the company’s business, these companies have some products of the tire. Some of brand tires of continental are Uniroyal, Semperit, Barum, General Tire, Viking, Gislaved, Mabor, Matador and Sportiva brands.

One of the Largest Tire Companies in 2022 - Continental

Financially, Continental was the tires company with the biggest asset of 37.9 billion Euro. In 2022, this company generated revenue of 39.4 billion Euro or equivalent to 44.5 billion US Dollars and gained net income with 112 Million Euro or equivalent with 125 million US Dollar.


2. Bridgestone

One of the Largest Tire Companies in 2022 - Bridgestone

Bridgestone Corporation is one of the biggest manufacturers of tires in the world. Historically, this company was founded by Shojiro Ishibashi in 1931 with the name of Bridgestone Tire Co. in the city of Kurume, Fukuoka Prefecture in Japan. Along with the development of the company, this company has 180 manufacturing plants and R&D Facilities spread out the nation. With employees of more than 143 thousand people, this company still moving forward with innovative products. Operationally, based on the product, this company market some product, namely Ecopia, Turanza, Potenza, Dueler, Blizzak, Battlax, and other tire brand. Financially, in 2022, based on the annual report, the company generates revenue of 4,110 billion Yen or equivalent to 36.1 billion and gained net income of 482 Billion Yen or equivalent to 4.2 Billion US Dollar.


3. Michelin

One of the Largest Tire Companies in 2022 - Michelin

Michelin is a global tire company from Clermont-Ferrand, France. Historically, this company was founded by Édouard Michelin and André Michelin on May 26th, 1889. Along with the development of the company, Michelin has 117 production sites in 26 countries, commercial offices in 170 countries, with total employees around the world, reaching 124 thousand people. Financially in 2022, with the threat of global recession, this company still gets positive performance with revenue of 28.5 billion Euro or equivalent with 32 billion US Dollar and net income of 2 billion Euro or equivalent with 2.26 billion US Dollar.


4. Goodyear

One of the Largest Tire Companies in 2022 - Goodyear

The Goodyear Tire & Rubber Company is an American-based Tire company. Historically, this company was founded on August 29th, 1898, by Frank Seiberling. The name comes from Charles Goodyear, the creator of vulcanized rubber. Today, this company still has a central office in Akron, Ohio, United States of America (USA). Along with the development of the company’s business, Goodyear has some brands of tires. these brands are Goodyear Eagle, Goodyear Excellence, Eagle F1 Sport, Super Road Lug, S200+, Assurance Triplex. Financially, this company generates revenue of 20.8 billion US dollars and net income of 202 million US dollars.


5. Pirelli

One of the Largest Tire Companies in 2022 - Pirelli

Pirelli & C. S.p.A.is one of the biggest tire manufacturers in Milan, Italy. Historically, this company was founded by Giovanni Battista Pirelli in 1872. Along with the development of the company, Pirelli has around 31 thousand employees. Today, structurally, ChemChina with 45.5% of share ownership and Marco Tronchetti Provera with 10.05% of share are the biggest of Pirelli share. Financially, this company generates revenue of 6.6 billion euros o equivalent to  7.4 billion US dollars, and net income of 435 million Euro or equivalent to 491 million US dollars.  


6. Sumitomo Tires

One of the Largest Tire Companies in 2022 - Sumitomo Tires

Sumitomo Rubber Industries, Ltd is a Japanese-based rubber manufacturer company with a revenue of 1,098 billion Yen or equivalent to 9.6 billion USD Dollar and net income of 29 billion Yen or equivalent to 255 million US Dollar in 2022. Along with the development of the company, this company has employees of around 39,298 people and sales of around 108 million tires in 2020. In 1963, the Sumitomo Group officially acquired Dunlop Japan and changed its name to Sumitomo Rubber Industries Ltd.  In Japan, Sumitomo Rubber holds the rights to the Dunlop brand.


7. Yokohama

One of the Largest Tire Companies in 2022 - Yokohama Tires

Yokohama Rubber Company is another biggest tire company in Japan. Historically, this company was founded on October 13th, 1917, and still has its main office in Tokyo, Japan. Some of the tire brands from this company are YOKOHAMA, ALLIANCE, GALAXY, PRIMEX, and AICHI tires. Financially, in 2022, based on the annual report, the company generates revenue of 860 billion Yen or equivalent to 7.5 billion and net income of 47 billion Yen or equivalent to 413 million US Dollars.



8. Cheng Shin Rubber

One of the Largest Tire Companies in 2022 - Chen Shin Rubber

Cheng Shin Rubber Ind. CO., LTD. Has a primary office in Tatsun Hsiang, Changhua, Taiwan, and has 5,904 total employees across all its locations. Financially, in 2022, this company generates revenue of 98.6 billion Taiwan Dollars or equivalent to 3.5 billion US dollars and a net income of 4.9 billion Taiwan dollars or equivalent to 176 million US dollars.


9.Toyo Tires

One of the Largest Tire Companies in 2022 - Toyo Tires

Toyo Tire Corporation has a primary office in Itami, Hyogo, Japan. Historically, this company established since August 1st, 1945. Today, the company has 12 thousand employees. Operationally, Toyo Tire has manufactured tires in four countries, namely Japan, the US, China, and Malaysia. Financially, the company generates revenue of 497 billion Yen, or equivalent to 4.3 billion US dollars, and net income of 47 billion yen or equivalent to 413 million US dollars.


10. Apollo

One of the Largest Tire Companies in 2022 - Apollo Tyres

Apollo Tyres Limited is an Indian tire manufacturing company headquartered in Gurugram, Haryana.  Historically, this company started operationally in 1972. Along with the development of company business, Apollo has 7 Manufacturing locations across India and Europe, 2 Global R&D centers, and served more than 100 countries. Today, the total of employees reaches 18,734 people. Financially, this company generates 246 billion Indian Rupee or equivalent to 3.1 billion US Dollar and net income reach 11 billion Indian Rupee or equivalent to 143 million US Dollar.


11. Hankook

One of the Largest Tire Companies in 2022 - Hankook Tires

Hankook Tire & Technology Group is a South Korean tire manufacturer headquartered in Seoul. Historically, this company was founded by Jae Hun Chung in 1941. Today, along with the development of the company, Hankook has 5 Regional Headquarters/divisions, 5 R&D centers, 30 Sales Subsidiaries & Offices, 8 production facilities in Korea (2), China (3), USA, Hungary, and Indonesia. Globally, the total number of employees of the company reaches 20 thousand people. Financially, in 2022, the company generates revenue of 1 trillion KRW or equivalent to 840 million US dollars, and net income reaches 166 billion KRW or equivalent to 139 million US dollars.


12.Nokian Tires

One of the Largest Tire Companies in 2022 - Nokian Tires

Nokian Tyres plc is a tire company headquartered in Nokia, Finland, and has been established in 1898. Basically, this company produces tires for cars, trucks, buses, and heavy-duty equipment.  Today, this company operates in over 60 countries around the world with 4,700 employees. Financially, in 2022, this company generates revenue of 1.7 billion Euro or equivalent to 1.9 billion US Dollars but suffered net loss of 175 million Euro or equivalent with 197 million US Dollar.


13. MRF

One of the Largest Tire Companies in 2022 - MRF

Madras Rubber Factory (MRF) is an Indian multinational tire manufacturing company headquartered in Chennai, Tamil Nadu, India. Historically, this company was founded by K. M. Mammen Mappillai in 1946. Today, along with the development of the company, the total number of employees of the company reaches 16,194 people. Financially, in 2020, based on the annual report, this company generates 22,578 Rs Crores or equivalent to 2.9 billion US Dollar, and net income reach 816 Rs Crores or equivalent to 106 million US Dollar.



The Summary of Largest Tire Companies in 2022


Largest Tire Companies in 2022 Based on Assets


Largest Tire Companies in 2022 Based on Net Income


Bibliography of 13 World’s Biggest Tire Companies

Continental. Annual Report 2022. Accessed via https://www.continental.com/en/investors/reports/  on May, 2023

Bridgestone. Annual Report 2022. Accessed via https://www.bridgestone.com/ir/  on May, 2023

Michelin. Annual Report 2022. Accessed via https://www.michelin.com/en/annual-report/ on May, 2023

Goodyear. Annual Report 2022. Accessed via https://corporate.goodyear.com/us/en/investors/financial-reports/annual-reports.html on May, 2023

Pirelli. Annual Report 2022. Accessed via https://corporate.pirelli.com/corporate/en-ww/investors/financial-publications/financial-reports on May, 2023

Sumitomo Tires. Annual Report 2022. Accessed via https://www.srigroup.co.jp/english/ir/library/financial-report/index.html  on May, 2023

Yokohama. Annual Report 2022. Accessed via https://www.y-yokohama.com/global/ir/library/areport/ on May, 2023

Cheng Shin Rubber. Annual Report 2022. Accessed via https://www.wsj.com/market-data/quotes/TW/2105/financials  on May, 2023

Toyo Tires. Annual Report 2022. Accessed via https://www.toyotires-global.com/ir/library/annual/  on May, 2023

Apollo. Annual Report 2022. Accessed via https://corporate.apollotyres.com/investors/financial-reporting/  on May, 2023

Hankook. Annual Report 2022. Accessed via https://m.hankooktire.com/global/company/finance/financial-reports.html  on May, 2023

Nokian Tyres. Annual Report 2022. Accessed via https://www.nokiantyres.com/company/publications/annual-reports/  on May, 2023

MRF. Annual Report 2022.Accessed via https://www.mrftyres.com/financial-results  on May, 2023

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