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
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
|
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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.
The PESTLE analysis for Michelin is presented below:
Political | Economical |
1. Impact of import tariffs in US
2. Impact of Brexit on Michelin starred restaurants
3. Axing power production through gas as a result of Russia Ukraine war
| 1. Impact of macroeconomic conditions prevailing in operating regions |
Social | Technological |
1. Increasing popularity of E-commerce
2. Ace Customer support and employee engagement build a trustable brand
3. Michelin rating considered prestige and quality symbol for restaurants across the globe
| 1. Focus of businesses on digitization
2. Innovation and R&D initiatives
|
Legal | Environmental |
1. Burdensome laws and regulations
2. Improving Intellectual Property laws and consumer protection laws to prevent Litigation risks
| 1. Commitment to reduce carbon emissions
2. Impact of weather conditions on business
|
On purchase the Michelin SWOT and PESTLE Analysis PDF report will reach you within minutes. At rare times, a slight delay not exceeding 1 hour might be caused.
Detailed Pestle Analysis of Michelin
Political
This section is available only in the 'Complete Report' on purchase.
Economic
This section is available only in the 'Complete Report' on purchase.
Social
This section is available only in the 'Complete Report' on purchase.
Technological
This section is available only in the 'Complete Report' on purchase.
Legal
This section is available only in the 'Complete Report' on purchase.
Environmental
1. Commitment to reduce carbon emissions: The problem of CO2 emissions in particular has forced the automotive industry to shift its base towards sustainable solutions and non-carbon/ renewable source of energy. It is listed on Dow Jones Sustainability Index (DJSI) Stoxx for European sustainability leaders and DJSI World for global sustainability leaders. Michelin has pledged to cut its production facilities' CO2 emissions by 50% by 2030, and by 2050, it plans to become carbon neutral. Additionally, to help achieve carbon neutrality it nurtures plans of improving the energy efficiency of its products by 10% by 2030. By 2030, Michelin plans to use 40% sustainable materials in its tyres, and by 2050, it wants to use 100% sustainable materials.
The remaining section under "Environmental" is available only in the 'Complete Report' on purchase.
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 |
RoadBotics | Road infrastructure images analysis | 2022 | Acquisition | To foster the development of services and solutions already offered by MICHELIN DDi (Driving Data to Intelligence) |
AirCaptif | Ultralight inflatable insulation | 2021 | Acquisition | The acquisition of AirCaptif will contribute to reaching its goals for growth beyond the tire, and more specifically in the field of flexible composites. |
Allopneus | Sales and tyre fitting | 2021 | Acquisition | To consolidate its e-commerce presence in France. |
Source: Company website and other reliable sources. The detailed table is available in the Complete Report.
On purchase the Michelin SWOT and PESTLE Analysis PDF report will reach you within minutes. At rare times, a slight delay not exceeding 1 hour might be caused.
TABLE OF CONTENTS
DELIVERY AND FORMAT
WHY CHOOSE US?
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Michelin Segmentation, Targeting and Positioning (STP) Analysis |
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Michelin Ansoff Matrix Analysis |
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Check Out Analysis of Other Relevant Companies
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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Michelin SWOT and PESTLE analysis has been conducted by Kanupriya Sheopuri and reviewed by senior analysts from Barakaat Consulting.
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