Pirelli Yielded to Hankook On The European Market?
Posted on December 8, 2009
Filed Under Bridgestone Tires, Continental Tires, Dunlop Tires, Goodyear Tires, Hankook Tires, Michelin Tires, Nokian Tires, Pirelli Tires, Toyo Tires, Yokohama Tires
Will Hankook push out Pirelli from the top five tire manufacturers of Europe?
The market research conducted by Hankook showed that the Michelin company remains an absolute leader on the tire market (both in segments of passenger and truck tires). At the same time a new player appeared in the previously stable top five – namely Hankook.
Why did Hankook decided to publish its research now, after one of the most difficult periods in the history of the market? It can be explained by the fact that 2009 was an extremely successful year for the Korean company. The peculiar combination of factors has changed the state of affairs during last 12 months. The major question now – will Hankook be able to retain its positions in Europe in the following years?
Here is the forecast of Hankook for the end of 2009 (passenger tires market): Michelin will remain the leader with the market stake of 20%, the second place goes to Goodyear Dunlop (18%), the third – to Bridgestone (12%), Pirelli has 8%. The most interesting fact here is that Hankook holds the 7th place with 7%. It means that its lagging behind Pirelli is not so big.
What concerns truck tires the first place again goes to Michelin (32%), the second place – Goodyear Dunlop (18%), Continental holds 16% of the market, Bridgestone – 13%. According to Hankook, it performs even better in this segment and holds the 5th place thus having overtaken Pirelli.
Since December has just begun the data can be regarded only as a forecast. At the same time Hankook gives 18% to other companies what means that its research is based on the analysis of the whole market. It also cannot be the result of companies that are members of ERMC Europool because the stake of Cooper and Trelleborg would be much higher in this case. Thus, there may be doubts regarding the correctness of the data in respect of sales volumes of Cooper, Kumho, GTRadial, Nexen, Nokian, Toyo, Yokohama etc. The rise of their stake will inevitably lead to the reduction of that of the five major companies. Anyway, only time can eliminate the doubts.
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