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 2020, 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.

Top 13 World’s Biggest Tire Companies- Logo of Tire Company

In 2020, 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 2020. Overall, this data of revenue and income of each company was obtained from the annual report of the company in 2020. 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
1Goodyear12.3 Billion US Dollar 12.3 Billion1.2 Billion US Dollar 1.2 Billion
2Michelin20.4 Billion Euro 23 Billion625 Million Euro 706 Million
3Yokohama570 Billion Yen5 Billion26 Billion Yen 228 Million
4Cheng Shin Rubber96 Billion TWD3.4 Billion5.9 Billion TWD212 Million
5Sumitomo Tires790 Billion Yen6.9 Billion 22.6 Billion Yen 198 Million
6Hankook 820 Billion KRW688 Million179 Billion KRW150 Million
7Toyo Tires343 Billion Yen 3 Billion11 Billion yen 96 Million
8Nokian Tyres1.3 Billion Euro 1.4 Billion86 Million Euro93 Million
9Pirelli4.3 Billion Euro4.8 Billion42.6 Million Euro48 Million
10Apollo169 Billion INR2.1 Billion3.5 Billion INR45 Million
11MRF15,921 Rs Crores206 million1,216 Rs Crores15 Million
12Bridgestone2,994 Billion Yen25.9 Billion(-19.7 Billion Yen)(-173 Million)
13Continental37.7 Billion Euro42.6 Billion(-918 Million Euro)(-1 Billion)
Source : Annual Report, 2020
Origin Currency : Currency at the Annual Report
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
1Continental39.6 Billion Euro44.7 Billion 26.9 Billion Euro30.3 Billion
2Bridgestone4,189 Billion Yen 36 Billion1,994 Billion Yen 17 Billion
3Michelin31.6 Billion Euro 35.7 Billion19 Billion Euro21 Billion
4Goodyear16.5 Billion USD 16.5 Billion13.2 Billion USD13.2 Billion
5Pirelli13.7 Billion Euro15.4 Billion9.2 Billion Euro 10.3 Billion
6Sumitomo Tires947 Billion Yen 8.3 Billion507 Billion Yen 4.4 Billion
7Yokohama860 Billion Yen 7.5 Billion 437 Billion Yen 3.8 Billion
8Cheng Shin Rubber151 Billion TWD5.4 Billion70 Billion TWD2.5 Billion
9Toyo Tires445 Billion Yen 3.9 Billion222 Billion Yen 1.9 Billion
10Apollo260 Billion INR3.3 Billion192 Billion INR2.4 Billion
11Hankook 3.7 Trillion KRW3.1 Billion291 Billion KRW224 Million
12Nokian Tyres2.3 Billion Euro2.5 Billion815 Million Euro920 Million
13MRF22,259 RS Crores289 Million9,080 Rs Crores118 Million
Source : Annual Report, 2020
Origin Currency : Currency at the Annual Report
Currecy 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.

Top 13 World’s Biggest Tire Companies- Continental

Financially, Continental was the tires company with the biggest asset of 39.6 billion Euro. In 2020, this company generated revenue of 37.7 billion Euro or equivalent to4 2.6 billion US Dollars but suffered negative performance with a net loss of -918 Million Euro or equivalent with -1 Billion US Dollar.


2. Bridgestone

Top 13 World’s Biggest Tire Companies- 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 2020, based on the annual report, the company generates revenue of 2,994 billion Yen or equivalent to 25.9 billion but suffered negative result with a net loss of -19.7 Billion Yen or equivalent to -173 Million US Dollar.


3. Michelin

Top 13 World’s Biggest Tire Companies- 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 2020, with the pandemic of Covid-19, this company still gets positive performance with revenue of 20.4 billion Euro or equivalent with 23 billion US Dollar and net income of 625 million Euro or equivalent with 706 million US Dollar.


4. Goodyear

Top 13 World’s Biggest Tire Companies- 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 12.3 billion US dollars and net income of 1.2 billion US dollars.


5. Pirelli

Top 13 World’s Biggest Tire Companies- 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 4.3 billion euros o equivalent to  4.8 billion US dollars, and net income of 42.6 million Euro or equivalent to 48 million US dollars.  


6. Sumitomo Tires

Top 13 World’s Biggest Tire Companies- Sumitomo

Sumitomo Rubber Industries, Ltd is a Japanese-based rubber manufacturer company with a revenue of 790 billion Yen or equivalent to 6.9 billion UD Dollar and net income of 22.6 billion Yen or equivalent to 198 million US Dollar in 2020. 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

Top 13 World’s Biggest Tire Companies- Yokohama Tyres

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 2020, based on the annual report, the company generates revenue of 570 billion Yen or equivalent to 5 billion and net income of twenty-six billion Yen or equivalent to 228 million US Dollars.


8. Cheng Shin Rubber

Top 13 World’s Biggest Tire Companies- CST

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 2020, this company generates revenue of Ninety-six billion Taiwan Dollars or equivalent to 3.4 billion US dollars and a net income of5.9 billion Taiwan dollars or equivalent to 212 million US dollars.


9.Toyo Tires

Top 13 World’s Biggest Tire Companies- 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 343 billion Yen, or equivalent to 3 billion US dollars, and net income of eleven billion yen or equivalent to ninety-six million US dollars.


10. Apollo

Top 13 World’s Biggest Tire Companies- Apollo

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 169 billion Indian Rupee or equivalent to 2.1 billion US Dollar and net income reach 3.5 billion Indian Rupee or equivalent to 45 million US Dollar.


11. Hankook

Top 13 World’s Biggest Tire Companies- HAnkook

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 2020, the company generates revenue of 820 billion KRW or equivalent to 688 million US dollars, and net income reaches 179 billion KRW or equivalent to 150 million US dollars.


12.Nokian Tires

Top 13 World’s Biggest Tire Companies- Nokian Tyres

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 2020, this company generates revenue of 1.3 billion Euro or equivalent to 1.4 billion US Dollars and net income of eighty-six million Euro or equivalent with 93 million US Dollar.


13. MRF

Top 13 World’s Biggest Tire Companies- 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 15,921 Rs Crores or equivalent to 206 million US Dollar, and net income reach 1,216 Rs Crores or equivalent to 15 million US Dollar.



Bibliography of 13 World’s Biggest Tire Companies

Continental. Annual Report 2020. Accessed via https://www.continental.com/en/investors/reports/  on November 20th, 2021

Bridgestone. Annual Report 2020. Accessed via https://www.bridgestone.com/ir/  on November 20th, 2021

Michelin. Annual Report 2020. Accessed via https://www.michelin.com/en/annual-report/  on November 20th, 2021

Goodyear. Annual Report 2020. Accessed via https://corporate.goodyear.com/us/en/investors/financial-reports/annual-reports.html  on November 20th, 2021

Pirelli. Annual Report 2020. Accessed via https://corporate.pirelli.com/corporate/en-ww/investors/financial-publications/financial-reports on November 20th, 2021

Sumitomo Tires. Annual Report 2020. Accessed via https://www.srigroup.co.jp/english/ir/library/financial-report/index.html  on November 20th, 2021

Yokohama. Annual Report 2020. Accessed via https://www.y-yokohama.com/global/ir/library/areport/  on November 20th, 2021

Cheng Shin Rubber. Annual Report 2020. Accessed via https://www.wsj.com/market-data/quotes/TW/2105/financials  on November 20th, 2021

Toyo Tires. Annual Report 2020. Accessed via https://www.toyotires-global.com/ir/library/annual/  on November 20th, 2021

Apollo. Annual Report 2020. Accessed via https://corporate.apollotyres.com/investors/financial-reporting/   on November 20th, 2021

Hankook. Annual Report 2020. Accessed via https://m.hankooktire.com/global/company/finance/financial-reports.html  on November 20th, 2021

Nokian Tyres. Annual Report 2020. Accessed via https://www.nokiantyres.com/company/publications/annual-reports/  on November 20th, 2021

MRF. Annual Report 2020.Accessed via https://www.mrftyres.com/downloads/Annual-Report-2020-2021.pdf  on November 20th, 2021

Leave a Reply

Contact Us

error: Content is protected !!