MICHELIN
(Compagnie Generale des Etablissements Michelin S.C.A.)

Company Profile

■URL

https://www.michelin.com/en/

■Address

23 Place des Carmes Déchaux, 63040 - CLERMONT FERRAND Cedex 9, France

Business Overview

-The Company is a market leader in designing and manufacturing tires for all vehicles, primarily focusing on passenger cars, light trucks, and commercial vehicles.

-The Company is comprised of three business segments:

Business Segments
Automotive tires and related distribution Road transportation tires and related distribution Specialty businesses and related distribution:
Consists of tires for agricultural, two-wheel, aircraft, and earthmoving equipment; as well as Michelin Travel Partner and Michelin Lifestyle businesses

  

Global Tire Market

-In 2020, the Company was the largest tire manufacturer in the world with a 15.0% global market share.

-In 2020, the value of the global tire market was approximately USD 153 billion. Light vehicle tires accounted for approximately 60% of sales while truck tires accounted for approximately 30% of sales. In terms of volume, approximately 1.4 billion car and light truck tires were sold in 2020, while approximately 200 million truck and bus tires were sold.




Tire Market in 2021 (in million units)
Passenger car and light truck tires Truck tires
OE Replacement OE Replacement
2021 2020 2021 2020 2021 2020 2021 2020
West and Central Europe 67 71 315 287 5.8 4.7 17.2 15.4
CIS 7 7 61 53 1.1 0.9 8.6 8.3
North America 62 63 327 288 6.1 4.9 31.6 26.2
South America 12 11 68 54 2.2 1.6 14.0 11.8
China 115 112 136 132 28.3 33.9 43.4 46.8
Asia (excluding China, India) 65 64 141 134 4.0 3.4 22.8 21.6
Africa, India, Middle East 28 25 106 91 3.0 2.3 28.5 25.6
Total 356 353 1,154 1,039 50.5 51.7 166.1 155.7

Source: Company estimates

-The Company expects that the passenger car and light truck tire market will grow between 0% and 4% in 2022. The Company also anticipates growth between 1% and 5% for the truck tire market, and growth between 6% and 10% for the specialty tire markets.

-In forecasting estimates for long term tire demand, the Company expects new tire demand to increase by 0-2% in mature markets and by 2-4% a year in newer markets.
 

Competitors

-Bridgestone
-Continental
-Goodyear
-Hankook
-Pirelli

Shareholders

-The Company is listed on the NYSE Euronext Paris Stock Exchange.  (As of Dec. 31, 2021)
Shareholder Investment Ratio (%)
Foreign institutional investors 65.5
French institutional investors 23.6
Individual shareholders 9.2
Employee Shareholder Plan 1.7
Total 100.0

Products

Tires
-Fuel efficient tires
-Run flat tires
-Winter tires
-Summer tires
-All-season tires
-Sports performance tires
-Luxury performance tires
-Long life tires
-Tires with EverGrip self-regenerating tread technology

Supplemental Information 1