Green Tire Market

Company Headquarters: Gwangju, South Korea Founded: 1960 Workforce: ~9,600 Company Working: Kumho Tire is engaged in the production and sale of tires for passenger cars, sports utility vehicles (SUVs), recreational vehicles (RVs), trucks, buses, and racing cars. It has nine sales branches and 17 branch offices across nine countries, and five research and development centers and eight manufacturing facilities across 4 countries, globally. The company sells tires under brands, such as Solus, ECSTA, Ecowing, Sense, and WinTERCRAFT. In 2018, Doublestar Group, a leading tire manufacturer in China, acquired a 45% stake in Kumho Tire for approximately USD 590 million. Through this, it will increase its share in the green market by combining its products, technologies, manufacturing capabilities, and services with that of the Group. Its subsidiary network includes Kumho Tire U.S.A., Inc., Kumho Tire Europe Gmbh, Nanjing Kumho Tire Co., Ltd, Kumho Tire (H.K.) Co., Limited, Kumho Tire (Tianjin) Co. Inc., Kumho Tire Georgia Inc., and Kumho Tires Canada Inc.

Company Headquarters: Changhua, Taiwan Founded: 1967 Workforce: ~20,000 Company Working: Cheng Shin Tire develops, manufactures, imports, exports, and retails tires and tubes for bicycles, motorcycles, all-terrain vehicles, autos, trucks, forklifts, and agricultural, lawn, and garden equipment. It operates through 12 production bases, worldwide, of which seven are located in China. The company’s distribution network spans across more than 150 countries, globally. It is currently concentrating on growing its presence in emerging markets, such as India and Indonesia, where it established production facilities in the second and third quarters of 2017, respectively. The brand recognition of one of its wholly owned subsidiary Maxxis International is expected to boost the growth of Cheng Shin Tire in the next few years. It has a wide network of subsidiaries, which includes, Maxxis Rubber India Private Limited, Maxxis Tech Center Europe B.V, PT. Maxxis International Indonesia, Cheng Shin Holland B.V., Cheng Shin Rubber USA Inc.

Company Headquarters: Seoul, South Korea Workforce: ~22,000 Founded: 1941 Company Working: Hankook Tire manufactures and sells tires, worldwide, through its four-regional headquarters, multiple offices that are present across 30 countries, and five research and development centers that are located in South Korea, the US, Germany, China, and Japan. The company has eight production facilities- two in South Korea, three in China, and one each in the US, Hungary, and Indonesia. As of 2017, these production facilities have a total production capacity of 104 million units. It sells tires for passenger cars, SUVs, light trucks, heavy trucks, and buses through four of its brand names, which are Hankook, Laufenn, Aurora, and Kingstar. Hankook Tire is focusing on its tire business to improve its share in the global tire market and to achieve global leadership through a digitalization strategy and improved supply chain efficiency. It is planning to reinforce processes throughout its production, distribution, and sales areas to establish a corporate culture of voluntary engagement based on work integrity. The major subsidiaries of the company include Jiangsu Hankook Tire Co., Ltd, PT Hankook Tire Indonesia, Hankook Tire U.K. Ltd, Hankook Tire Canada Corp., Hankook Tire Australia Pty. Ltd, and Hankook Tire Malaysia Sdn. Bhd.

Company Headquarter: Milan, Italy Founded: 1872 Workforce: ~30,189 Company Working: Pirelli & C. S.p.A. manufactures and markets tires for cars, bicycles, and SUVs. It has 19 tire factories across 13 countries across four continents and more than 12,500 points of sale across more than 160 countries. The company is focused on research & development and has employed around 1,800 people working in its research and development department across 11 countries, globally. It has achieved more than 6,100 patents and has outsourced 150 projects for materials, processes, software, and electronics, all over the world. The company is planning to achieve environmental efficiency by 2020 by reducing specific indices of energy consumption, CO2 emissions, and water withdrawal and by enhancing its waste recovery process. Some of the major subsidiaries of Pirelli & C. S.p.A. includes Pirelli International plc, Pirelli Pneus Ltd., Deutsche Pirelli Reifen Holding Gmbh, Pneus Pirelli S.A.S, TP Industrial de Pneus Brazil Ltd., and Pirelli North America Inc.

Company Headquarters: Nokia, Finland Workforce: ~4,600 Founded: 1898 Company Working: Nokian Tyres plc is engaged in manufacturing tires for different types of applications. It has production plants in Finland and Russia. The company offers winter tires, summer tires, non-studded tires, studded tires, and all-weather tires, for passenger car, off road vehicles, and heavy-duty vehicles. Currently, it is developing electric car tires with low rolling resistance. These tires will help the vehicle travel a further distance with a single charge and have a lower environmental impact as they comply with the EU’s tire labeling. The tires are rated ‘A’ in terms of fuel efficiency. In 2017, the company announced that it planned to increase its production capacity by 50% by investing approximately USD 79.1 million in its factory in in Nokia, Finland over the next three years. The company has wide network of subsidiaries, which includes Nokian Reifen AG, Nokian tires s.r.o., Goss Tire Corporation, Nokian Tyres, Inc., Nokian Dekk AS, Nokian Tyres Sàrl, Nokian TYRES U.S. Holdings Inc., University Wholesalers, Inc., and Nokian Heavy Tyres Oy. some of its major competitors are Michelin, Bridgestone Corporation, The Goodyear Tire & Rubber Company, and Continental AG.

Company Headquarters: Ohio, US Founded: 1898 Workforce: ~64,000 Company Working: The Goodyear Tire & Rubber Company develops, manufactures, and markets tires and related products and services globally. It has 48 manufacturing facilities in 22 countries across the world. The company offers tires for different types of vehicles such as cars, trucks, buses, aircraft, motorcycles, construction and mining equipment, farm implements, and industrial equipment. It offers fuel-efficient tires for cars, trucks, and buses. According to the company, its fuel Max range is one of the most fuel-efficient tire ranges, globally. A long-haul fleet of 100 vehicles using these tire combinations could save up to 214,000 liters of diesel per year and reduce up to 557,000 kg of CO2, which helps save up to USD 3,27,609 in fuel. The Goodyear Tire & Rubber Company has a wide network of subsidiaries, which includes, Goodyear Dunlop Sava Tires, Dunlop Tires, Kelly Springfield Tire Company, Wingfoot Commercial Tire Systems LLC, Goodyear (Thailand) Public Co., Ltd., and Goodyear Aerospace