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Introduction According to Hill and Jones 2004 p 37 an industry is a number of companies which offer similar products services that please the same customer needs There are around one billion tyres produced each year across the globe Tyres recycling 2004 and they are one of the most important safety components of any vehicle Consumers Reports 1997 This creates an industry which serves a functional need to all drivers The industry provides all automobiles with a vital component for high performance This report concentrates on the global tyre industry but has a particular focus on car tyres Key Players and The Market Share The global tyre industry is mainly dominated by four international tyre manufactures These are Michelin France BridgestoneFirestones Japan Goodyear United States and Continental Germany Datamonitor 2005 found that Michelin is one of the worlds largest manufactures of tyres with a market share of over 20 of the world tyre market BridgestoneFirestone is a very close contender of Michelin with 18 of the market share Datamonitor 2005 In total the four leading players in the global tyre and rubber industry collectively control approximately 61 of the market value shareDatamonitor 2004 Continental did increase its global Market share tremendously since 2002 In 2002 Michelin Bridgestone and Goodyear had nearly 60 of the global tyre market between them Tierney Palmer Dawson Muller 2002 Product Range Tyre manufacturers produce more featured products to result in higher demand and popularity Tyres to suit different driving conditions have also been produced Wet weather tyres are offered by most manufacturers Mintel 2001 Amongst these developments are also tyres invented with low-noise better grip durability lower lolling resistance Mintel 2001 Tyres for high performance have experienced consistent increase due to the increase in popularity of the sports car and 4x4 vehicles The Tyre Industry 2005 Tyres are also produced globally for heavy commercial vehicles light commercial vehicles agricultural vehicles civil engineering vehicles
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