Starting off 2022, Brand Finance has released its ranking for the most valuable brands within the tyre sector. Michelin and Bridgestone scored first and second place, with both manufacturers topping USD 7,000 million. The rankings are calculated by evaluating the strength and value of the brands competing within the sector.
Michelin and Bridgestone Edge Ahead of the Competition
In almost identical results for 2021, the top 8 tyre brands held tight, with Linglong being pushed into 11th position and Toyo Tires and Giti Tires ascending to 9th and 10th in the leaderboard. Of the top 8, all recorded a healthy increase in brand value in 2022.
In terms of brand strength ratings Bridgestone, Goodyear and Pirelli all achieved AAA- ratings, Michelin, however once again eked out the competition with a triple-A rating. “Michelin has performed well throughout the pandemic and has put a little bit of distance between itself and 2nd placed Bridgestone. Michelin’s long history of innovation and reputation for quality has continued to pay dividends through one of the most disruptive economic periods on record,” Alex Haigh Valuation Director, Brand Finance, commented on why Michelin and Bridgestone have cemented their top-tier status.
The improved market outlook over 2021 is a promising sign that the tyre sector is starting to grow again after a fraught 2020.