Michelin couv courteGB

World tire industry
and markets
Replacement accounts for three
quarters of tire markets
The world tire markets total 80 billion dollars*:
half of which equip passenger cars and light trucks,
which require more than1 billion tires each year;
one-third equip trucks, which use 140 million tires.
With a relatively even geographical split among
Europe, North America and Asia, tire markets are
less cyclical than car markets because they are first
and foremost replacement markets, accounting for
71% of volumes and 75% of sales. Michelin makes
more than 70% of its sales to the replacement
markets, which are growing by 2 to 3% a year.
The tire industry is a highly concentrated one.
Taken together, the three largest tire manufacturers,
who occupy all market segments, account
for 55% of the world market.
* Please refer to the “Michelin Fact-Book 2005”, downloadable at
www.michelin.com/corporate, for a detailed description of Michelin’s
markets and positions compared with its competitors.
World market in volume
by region (metric ton equivalent)
● Europe 28%
● North America 29%
● South America 6%
● Asia/Oceania 30%
● Africa/Middle/East 7%
Source: LMC 2004 & Michelin estimates
World tire market
by product type
● Passenger
Car-Light Truck 51.0%
● Truck 32.4%
● Earthmover 6.7%
● 2-Wheel 5.9%
● Agricultural 3.4%
● Aircraft 0.6%
Michelin estimates
World tire market
by manufacturer
● Michelin 20.1%
● Bridgestone 18.4%
● Goodyear 16.9%
● Medium-sized players 25.8%
● Local and niche
market players 18.8%
Source: Tire Business – September 2004