By Denna Bowman
A report into the 2008 worldwide tyres industry has revealed that the global top 11 manufacturer’s grip on the market has slipped considerably during the past decade.
Analysts at Deutsche Bank noted that the fall is despite the surge in the market capacity to twice its value (not allowing for inflation) from the beginning of the millennium.
In the US it has grown from $69.78 billion in 2000 to a massive £140 billion, according to a report in Tyres and Accessories online news update.
The analysts also reported that the Global Big Three – Bridgestone, Michelin and Goodyear – have seen their market share dwindle to 46.2 per cent.
In the four previous recordings, taken by Deutsche Bank at five-year intervals, their share had not dipped below 52.1 per cent.
Analysts have attributed the downward trend to the fact that they have a below average share of the markets compared to those, including China, which are growing most rapidly.
Goodyear appears to be suffering the most after it reportedly lost three times more market share than its rivals Bridgestone and Michelin.