Has Pirelli Lost Fifth Place in European TBR Market to Hankook?

Market share data released by Hankook shows that Michelin remains the undisputed leader in both the car and truck tyre segments. However, the previously exclusive stable of top five tyre manufacturers has gained a new member in 2009. Hankook’s decision to publish its projections of how the land lies, following one of the most tumultuous periods in the market’s history, may only have happened because it was a good year for the South Korean tyre manufacturer, however the fact remains the unusual combination of events experienced in the last 12 months means there are signs that the status quo has been disrupted. Looking forward the question is: will the company be able to sustain this position in the years to come?

Here’s Hankook’s calculation of how the European car tyre market will look at the end of 2009. Michelin remains market leader with a 20 per cent market share, followed by Goodyear Dunlop (18 per cent). Bridgestone are next on the list with a 12 per cent share of the market, followed by Pirelli with 8 per cent. And here’s where things get interesting. Hankook are in sixth place with a 7 per cent market share, snapping at the heels of fifth-placed Pirelli who are only one percentage point ahead with 8 per cent.

Michelin is again said to dominate the truck tyre market, with a 32 per cent share of business. Goodyear Dunlop are second with 18 per cent, followed by Continental (16 per cent). Bridgestone are said to hold a solid fourth position in Europe with (13 per cent). As far as Hankook are concerned, the company’s standing in the TBR segment is even better than in PCR, with company data putting it in fifth place ahead of Pirelli (5 per cent).

Of course due to the fact that the figures were published in November they can only be estimates, however the fact that (on its passenger car tyre market chart) Hankook calculates “others” as representing 18 per cent suggests that the company is basing its estimates on a whole market scenario. It can’t simply be a survey of ERMC Europool members because that would mean Cooper Tire Europe and Trelleborg (not known for their car tyres) would have swelled to nearly a fifth of the market between them. With this mind, and when you consider that the truck and bus tyre chart allots an even smaller six per cent of the pie to “others”, there are those that would say this doesn’t fairly represent the sales of Cooper, Kumho, GTRadial, Nexen, Nokian, Toyo Yokohama – to name but a few. Expand their share and you inevitably dilute the rest. Either way Hankook’s 2009 estimates make timely reading nonentheless.