But this is where some of that seismic activity comes in.
Goodyear's acquisition of Cooper Tire & Rubber Co. in 2021 was fully realized in the 2022 sales figures, and the impact appears to be significant. After all, the Goodyear, Cooper and other affiliated brands see dominate sales in the North American market.
Bolstered in part by Cooper's tire brand sales, Goodyear's estimated 2022 North American sales jumped $2.7 billion year-over-year, closing the gap between it and No. 2 Michelin. This year, just about $380 million separate the two companies on the chart, a marked difference from the $1.45 billion separation a year earlier.
Still, it will be interesting to see how the world's three largest tire makers—and coincidentally the continent's top 3 rubber products makers—jockey for position in the years ahead.
Because Michelin for one, is investing in its North American operations, in part to grow capacity for in-demand tires—think: fuel efficient, EV, OE and larger-rim diameter as well as commercial truck—and rubber products ranging from Camso tracks to Fenner Precision Polymer belts and seals.
Within the last week, Michelin announced a planned consolidation of some of its Pennsylvania-based Fenner operations within a 400,000-sq.-ft. space. And that move comes on the heels of the May disclosure of a $100 million investment targeted at expanding its Camso-branded agricultural rubber tracks facility in Kansas, which opened just three years ago.
But the Greenville, S.C.-based tire maker's biggest announcement this year came in March, when it noted that it had earmarked $220 million to expand capacity and upgrade operations at two tire plants in Nova Scotia.
Bridgestone, likewise, is investing in growing its North American operations. Last year, the Nashville-based tire maker said it would pour $550 million into its flagship truck and bus radial tire plant in Morrison, Tenn.
As expected, Continental A.G.'s North American sales—through both Continental Tire the Americas L.L.C. and ContiTech USA Inc.—held the No. 4 spot after seeing an uptick in sales from around $5.05 billion in 2021 to $5.65 billion in 2022.
Parker-Hannifin Corp., ranked as North America's largest hose maker by Rubber News earlier this year, held the No. 5 spot in this ranking with North American sales growing about $310 million year-over-year.
In addition to hoses, Parker-Hannifin makes molded and extruded rubber goods.