2021 The economic operation of the world tire industry is returning to normal

On August 29, the 2022 Global Tire 75th 75th Ranking List organized by the US "Tire Commercial" was announced. The list shows that in 2021, the world tire rankings have not changed much, and Michelin continues to lead the industry. After the world tire industry was severely impacted by the new crown pneumonia epidemic in 2020, most of the major economic indicators of most tire companies in 2021 greatly improved, and tire sales, profits, and profit margins rebounded significantly. Most of them recovered or exceeded the level before the epidemic. In 2021, the cost of tires was basically the same year -on -year, and the industry investment confidence was insufficient.

A significant rebound in financial indicators

According to usual, the global tires top 75 rankings in 2022 are ranked as related to tire manufacturing in 2021. Compared with 2020, the top five names and rankings are unchanged. Michelin won the championship for the third time with $ 26.295 billion, and continued to lead and widen the gap with the second Plyztong. Bridgestone ranked second with US $ 22.175 billion. Gutey's sales ranked third in $ 14.917 billion. Mainland tires ranked fourth with 12 billion US dollars. The fifth place is still the resident rubber industry. In the sixth and seventh interchange, Pirelli exceeds the sixth of the Handa tires, and the seventh place in Handa tires. Hangzhou Zhongce Rubber is the eighth and ninth to become Youko Haoma. The tenth place is Zhengxin International.

By statistics and estimates of tires 75, the total global tire sales in 2021 were 177.5 billion US dollars, an increase of 17.3%over 2020 and 5.0%over 2019. Among the top ten, except for Youke Hao Ma, all 9 other sales have increased. Among the top 75, only 5 sales declined. The sales of universal tires, double -star tires, Balkrishna Industry and Naxsen tires have increased by more than 40%.

In 2021, the profit and net profit of the World Tire 75 were mainly increased. The average operating profit margin of 25 tire companies that declared profits was 9.4%, an increase of 1.7 percentage points over the previous year. Among the 20 business profits can compare the company, 13 operating profits have increased, 6 declined, and one is flat. Profit growth is large, including Emperor International, Nokia tires, Prilystong, Pride -Sabach, mainland tires, and Michelin, with an increase of more than 50%, most of which exceed the level before the epidemic. There are only two companies with losing money and 2 Jinhu tires and Nangang rubber tires. Balkrishna Industry, Pirelli and Pride — Sabach's operating profit margin in the top three are 23.8%, 22.6%, and 18.8%, respectively. Ranking according to net profit margins, Balkrishna Industry, Pride -Sabam and Nokia tires ranked in the top three with 17.2%, 15.0%and 12.0%, respectively.

Industry concentration continues to shrink

From the perspective of industry concentration, among the top 75, the top three sales were US $ 63.337 billion, an increase of 15.0%over the previous year, accounting for 35.7%of the world's total tire sales, a year -on -year decrease of 2.6 percentage points. The top ten sales were US $ 107.577 billion, an increase of 14.9%year -on -year, accounting for 60.6%of the world's total tire sales, a year -on -year decrease of 4.5 percentage points. The concentration of the tire industry continues to decline. There are still 17 members of the World Tire "$ 2 billion club", and members of the "US $ 1 billion club" have increased significantly from 28 to 34.

In addition, acquisitions and acquisitions have a greater impact on the sales and rankings of the tire industry. Gutey successfully acquired Cooper tire rubber in 2021, and some data of Cooper merged into Gutey, which increased Getey's sales by 30.4%. At present, Youke Haoma is negotiating to acquire Trelerburg. It is expected to be sold this year. Youko Haoma is expected to increase sales of more than $ 1 billion, which has a positive impact on its performance and ranking.

From a regional point of view, North America and Europe are still the main markets in the world. Michelin is the absolute leader of tire sales in Europe, ranked second in mainland groups, and Prizetong ranked third in Europe. Michelin is relatively balanced in the world, and its sales in North America, Europe and Asia are roughly equal. The Prubi market is mainly concentrated in North America and Asia, and North American tire sales account for 45%. After the successful acquisition of the cockpar rubber in the acquisition of cooper tires last year, North American tire sales accounted for 55%of the global total. Other companies dependent on North American tires are mainly Toyo Tires, Handa Tires and Nikeson. Nearly 60%of Tonic tires are from North America, and Hantai tires and Nikeson tires generate nearly 1/3 of sales in North America.

Investment confidence is still not high

Among the 23 tire manufacturers who were surveyed by tire investment expenses, the average proportion of industry tire investment in the industry was 6.5%, which was basically the same as the previous year. Among the comparison of 19 tire companies, 15 investment costs increased year -on -year, and 4 declined. According to the size of the annual financial budget capital expenditure, Pride, Michelin and Gutet ranks among the top three. According to the ratio of capital expenditure to sales revenue, India's Balkrishna Industry, Siate tires and Toyo tires ranked among the top three with 15.60%, 10.50%and 9.60%. In addition, the average R & D expenses to the industry and sales of sales were 3.8%, a decrease of 0.2 percentage points from the previous year. This shows that the investment confidence in the tire industry is still not high.

According to "Tire Business" to release tire project information statistics after August 2021, the total investment in the industry was about 4.5 billion US dollars, a decrease of $ 2.5 billion from the same cycle last year.The announcement of the number of tire investment this time is a lower level in recent years, indicating that the world tire industry has skeptical of the development of the market outlook.At present, the 3/4 of the tire industry is concentrated in Asia, reaching 3.5 billion US dollars, of which 90%are invested by tire companies in my country.Companies with large investment include Saiwan Group, Linglong Tire and Qingdao Morin Kirin Tire.At present, the Russian -Ukraine conflict has led to the closure of and withdrawing from tire production in Russia in the world tire industry, and Russian tire investment has completely stagnated.In terms of finance, the United States has continued to raise interest rates and shrinkage, which has increased the uncertainty of the world economy. Global tire investment has to reduce scale and pace. North America and European tire investment is rare.The impact of these investment in the market tire industry is worthy of attention.

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