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Michelin SWOT and PESTLE Analysis

ID : 52131653| May 2023| 22 pages

COMPANY PROFILE -Michelin

Business Sector :Tires, Auto Ancillaries, Industrial Materials, Travel Guides

Operating Geography :France, Europe, Global

About Michelin :

Michelin is a French tire manufacturer headquartered in Clermont-Ferrand, France. It was founded in 1889. It is among the three largest tire manufacturers in the world. Michelin is known for its innovative removable tires, pneurail (tire meant for rails) and radial tires. Michelin makes tires for aircrafts, motorcycles, bicycles and space shuttles. Apart from tires Michelin also makes tour guides, it has published two guidebook series. Michelin also publishes a variety of road maps, mostly of France but also of other European countries, Africa, Thailand and the United States. It has presence in 170 countries and operates 68 production facilities. It has been ranked on Number 1 spot by Forbes Magazine Annual survey on “America’s best large employers”. The company has over 124,760 employees globally as of January 2022.

The USP or unique selling proposition of Michelin is that it is the second largest tyre manufacturer in the world. Michelin mission is to “enhance its clients’ mobility, sustainably; designing and distributing the most suitable tires, services and solutions for its clients’ needs; providing digital services, maps and guides to help enrich trips and travels and make them unique experiences; and developing high-technology materials that serve the mobility industry”.

Michelin Revenue :


€ 23,795 million – FY ending December 31, 2021 (year-on-year growth of 16.3%)
€ 20,469 million – FY ending December 31, 2020

Competitive Analysis of Michelin

SWOT
PESTLE
The SWOT analysis for Michelin is presented below:
Strengths
Weaknesses
1. One of the largest manufacturers of tires globally
2. Strong brand equity and high market share
3. Strong R&D Teams with culture of innovation
4. Solid global footprint and increasing demand
1. High operational costs leading to low profits
2. Sluggish Replacement volumes due to higher prices
Opportunities
Threats
1. Potential of capturing demand for electric vehicle tires through strategic partnerships
2. High growth opportunities in passenger cars light commercial vehicle segment
3. Opportunity to become market leader through M&A
4. Reinforce their position as class leader through exclusive partnership
1. Volatility in raw material prices
2. Fierce competition from global players
3. Battling capacity of production challenges
SWOT & PESTLE (combined)
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Detailed SWOT Analysis of Michelin

Strength

1. One of the largest manufacturers of tires globally: Michelin produces over 187 million tires in 123 production facilities in 26 countries. Michelin contributes to social and economic activity in 170 countries. It has 4,150 dealerships and service centers. It is world leader in energy efficient tires, and leader in Europe for maps, guides and digital-travel support services. The sustained market share gain in 18-inch and larger tires increased brand sales by 19% in a segment up by 13%, due to price positioning. New product launches led to strong sales of all-season tires firm throughout the year, with strong growth of 4% in Europe. 2. Strong Brand Equity and high market share: Rich legacy of Michelin built over time has led to very strong brand equity in the tire segment and has enabled it to influence the industry as a market leader. Its market share is amongst the top three players in the industry. The brand equity boosted its technological leadership which grew and record high net income of €2,966 million despite the challenging market conditions. They also have scope to expand their business in industries different from automobile original equipment to businesses for end market by leveraging the brand value it has built through quality and safe products which have neither been recalled nor shown any major defect for several years in a row. It has $17.15 billion market share as of 2022. The remaining section under "Strength" is available only in the 'Complete Report' on purchase.

Weakness

This section is available only in the 'Complete Report' on purchase.

Opportunity

This section is available only in the 'Complete Report' on purchase.

Threat

This section is available only in the 'Complete Report' on purchase.

Major Competitors :

Major Brands :

  • Michelin
  • BFGoodrich
  • Kleber
  • Riken
  • Kormoran
  • Tigar
  • Uniroyal (United States)

Key Business Segments / Diversification :

Michelin
Mobility Experiences Automotive B2C Global Brands Automotive B2C Regional Brands Aircraft
Automotive Original Equipment Off Highway Transportation High Tech Materials Mining
Urban TransportationTwo Wheelers Motorsport Distribution
Services & Solutions Long Distance Transportation

Recent Acquisition / Mergers / Alliance / Joint Ventures / Divestitures :

Open Table Preview
Name
Business Segment
Year
Type
Objective/Synergy Achieved
RoadBoticsRoad infrastructure images analysis2022AcquisitionTo foster the development of services and solutions already offered by MICHELIN DDi (Driving Data to Intelligence)
AirCaptifUltralight inflatable insulation2021AcquisitionThe acquisition of AirCaptif will contribute to reaching its goals for growth beyond the tire, and more specifically in the field of flexible composites.
AllopneusSales and tyre fitting2021AcquisitionTo consolidate its e-commerce presence in France.
Source: Company website and other reliable sources. The detailed table is available in the Complete Report.
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References used in Michelin SWOT & PESTLE Analysis Report

1. Annual Report - https://www.michelin.com/en/finance/regulated-information/2021-annual-report/
2. Newsroom - https://www.michelin.com/en/newsroom/
3. Michelin - https://en.wikipedia.org/wiki/Michelin
4. Michelin: In a challenging business environment, sales stood at €6.5 billion in the first three months of 2022, a rise of 19% - https://www.globenewswire.com/en/news-release/2022/04/26/2429451/0/en/Michelin-In-a-challenging-business-environment-sales-stood-at-6-5-billion-in-the-first-three-months-of-2022-a-rise-of-19.html
The detailed complete set of references are available on request in the 'Complete report' on purchase.

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In-text: (SWOT & PESTLE.com, 2024)

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Michelin SWOT and PESTLE analysis has been conducted by Kanupriya Sheopuri and reviewed by senior analysts from Barakaat Consulting.

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