Tires are the most important part of motor vehicles because they promote the stability of vehicles over the road. Most of the manufacturing industries are focusing on producing better quality tires to increase the safety and security of the person riding. Being the only point of contact between the vehicles and road they play a significant role in stable driving. With its increasing importance in the manufacturing and transport industry, the export customs data shows that the revenue rate of tire export is recorded as $374.22 billion in 2023 with a growth rate of 6.2% from 2021.

Top Five Tire Producers in the World 2023

In the global trade market, some leading tire manufacturers contribute a percentage to economic growth. The key players like Bridgestone Corporation and Michelin Group rule the best manufacturers. As the demand for tires continues to rise, these manufacturing companies expand their business with more nations. Below are the top five leading tire producers of 2023,

1. Bridge Stone Corporation ( Year of establishment 1931)
Bridge Stone is a Japan-based tire Manufacturing Corporation emerging as one of the leading tire producers in the world. The company caters services to a wide range of cars, trucks, buses, agricultural equipment, and motor vehicles. As per the Global trade data, the Japan-based company exported tires worth $31 billion in 2023 with an extensive spike from 2020 worth $28.2 billion.

2. Michelin (Year of establishment 1889)
Michelin, founded in 1889 holds the second position in the list with its expanded tire services over the years. This French Multinational Corporation is popular for its innovative supplies for the transportation industry. The company caters its services to all ranges of vehicles and has exported tires worth $29 billion in the year 2023 followed by 2020 with a revenue rate of $25 billion.

3. Goodyear Tire and Rubber Company ( Year of establishment 1898)
The headquarters of Goodyear Tire and Rubber Company is in Ohio and the United States, the company holds the third position globally with its top-notch quality tires in the transport industry. It produces diverse ranges of tires ranging from agricultural trucks to consumer trucks accounting for $16 billion in 2023 followed by $14 billion in 2020.

4. Dunlop Tires ( Year of establishment 1888)
According to the Global export data, the Sumitomo Rubber Industry-owned company Dunlop Tires accounts for $12 billion in 2023 with an increased hike of 2 billion worth $10 billion in 2020. The company trades its tires with different nations like North America, South America, Europe Africa, and Asia, and caters its services to vehicles like passenger cars, off-road vehicles, and buses.

5. Pirelli ( Year of establishment 1872)
Rounding off Pirelli Italian Multinational Corporation captures the tenth top position of global tire producers with a revenue generation of $9 billion in 2023 followed by $7 billion in 2020. The company operates its services over 20 global production facilities with its top-notch quality products.

Top 2 Leading Exporters of Tires

Being the most essential part of any vehicle regardless of its sector, the demand for tires has increased with the passing years China and Japan are at the top as discussed below,

1. China – The rapidly growing Chinese automotive industry demands a high amount of tire generation to lead the import-export trade rate. The manufacturing companies used to produce around 800 million tires annually to fulfill their domestic needs.

2. Japan – Toyota, Honda, and Nissan, the top manufacturing companies of Japan are rapidly increasing their production rate and have produced around 200 million units of tires in 2023 for domestic requirements.

Top Five Leading Tire Export Destinations in 2023

The ever-growing global tire industry is a highly competitive market with all the countries advancing their services to emerge as the top exporter destination. The Global Customs Data depicts that China and Japan are leading the market globally followed by the rest as discussed below,

1. China - It’s no surprise that China here also tops the list as the largest tire exporter with low labor cost-like factors and abundant natural resources. This vast nation holds a share of 30% of the global trade market with a revenue rate of $82 billion with its diverse range of tires.

2. Japan – The advanced tech-specified country exports the second-highest number of tires globally, with a revenue rate of $14 billion in 2023. The Japanese tire manufacturing companies are more focused on making more sustainable products to get a hold in the domestic and international markets.

3. South Korea – South Korea holds the third position as the top global tire exporter in the world, with well-developed infrastructure and a skilled workforce. The trade rate of tires in the global market contributes to the economic growth of the country, with a revenue rate of $12 billion in 2023.

4. Germany – One of the leading economies of the European countries, Germany holds the top fourth global tire traders rank. The country is popular for delivering top-notch products to both the agricultural sector and the transportation sector with $11 billion in revenue in the year 2023.

5. United States – Last but not least, the fifth top tire exporter in the global market is the United States. The country holds a robust manufacturing sector and top manufacturing companies are mostly in demand for their wide range of products. The United States has exported tires worth $6 billion in 2023 to expand its reach in the global market.

FAQ’s

Que. Name the top global tire manufacturing company of 2023.
Ans. Bridgestone Corporation is the top global tire manufacturing company of 2023.

Que. Which is the top tire export destination of 2023?
Ans. China is the top tire export destination of 2023.

Que. Where you can get the information about the top tire producers of 2023?
Ans. At Import Globals, you can get information on top tire producers of 2023.

Que. What is the export trade value of tires in 2023?
Ans. The export trade value of tires in 2023 is $374.22 billion.

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