Japan Tire

Japan Tire Market Research Report Forecast : (2021-2026)

By Vehicle Type (Passenger Cars (SUV, Sedan, Hatchback & Bakkies), Light Commercial Vehicles (LCV) (Light Trucks, Light Buses, Pickup Trucks & Vans), Medium & Heavy Commercial Vehicles (Bus, Truck), T Read more

  • Tire
  • Nov 2021
  • 153
  • TR10239

Market Definition

Japan is an automotive hub and a swift adopter of technologies, entwined with the extensive presence of prominent automakers & tire manufacturers, participating actively in the production, distribution, & development of various vehicles & their components. The immense support from the government through investments & favorable policies are playing a crucial role in attracting new tire manufacturers for establishments and expanding the tire industry in Japan.

Market Insights

The Japan Tire Market is projected to grow at a CAGR of around 4% during the forecast period, i.e., 2021-26. The growth of the market is likely to be driven by the swiftly increasing vehicle sales owing to improving economic conditions, growing purchasing power, changing living standards, & escalating vehicle ownerships, i.e., surging the production & sales of vehicles and, in turn, driving the Japan Tire Market. 

Report Coverage Details
Study Period Historical Data: 2016-19
Base Year: 2020
Forecast Period: 2021-26
CAGR 4%
Key Companies Profiled Bridgestone Corporation, Sumitomo Rubber Industries Limited, Yokohama Rubber Company Limited, Toyo Tires & Rubber Company Limited, Kumho Tire Japan Inc., Japan Michelin Tire Co Ltd., Japan Goodyear Inc., Japan Pirelli Inc., Hankook Tire Japan
Unit Denominations USD Million/Billion

 

Besides, the growing inclination toward adopting Electric Vehicles (EVs) to reduce carbon emissions and the mounting demand for energy-efficient tires are also stimulating the growth of the tire industry. Moreover, since the country is a prominent hub for automakers & tire manufacturers, it is likely to attract foreign investments in the development of technologically advanced vehicles & tires, i.e., another crucial aspect expected to boost the market in the coming years.

Impact of Covid-19 on the Japan Tire Market

The advent of Covid-19 in 2020 had a decelerating impact on the entire automotive sector of Japan, where the tire market was no exception. The imposition of stringent movement restrictions & lockdown by the government to curb the spread of this dreadful disease introduced several unprecedented challenges to the tire industry. While the borders of different countries had to close, the country witnessed disruptions in tire imports & exports.

In addition, severely affected transportation & logistics in the country hampered the deliveries of pre-produced tires and brought a shortage of raw materials like rubber & crude, unavailability of labor, etc., which further led to massive gaps between the demand & supply of tires. Besides, since the production of tires was becoming difficult and the prices of raw materials like rubber & crude were fluctuating, the overall tire prices rose swiftly amidst the crisis.

Market Segmentation

Based on the Type of Vehicle:

  • Passenger Cars
  • Light Commercial Vehicles (LCV)
  • Medium & Heavy Commercial Vehicles
  • Two Wheelers
  • Off the Road (OTR)

Amongst them all, Passenger cars dominated the Japan Tire Market with the largest share in recent years, and the same trend is expected during the forecast period. It owes principally to the swiftly increasing vehicle ownership in the country, i.e., displaying a swift growth in the sales & production of passenger cars. It, in turn, is directly impacting the demand for passenger car tires and driving the market.

Besides, massive encouragement from the Japanese government to adopt passenger Electric Vehicles (EVs) is also instigating tire manufacturers to launch tires with advanced features to meet the requirements of specific vehicles. It, in turn, is anticipated to further augment the overall growth of the Japan Tire Market during the forecast period.

Based on the Demand Type:

  • OEM
  • Replacement

Here, the Replacement demand acquired the largest market share in recent years, owing principally to the massive vehicle fleet in the country entwined with a vast import network for tires from countries like Thailand, Indonesia, & Malaysia, among others. It, in turn, is augmenting the demand for replacement tires and fueling the overall market growth.

Besides, rising awareness among people about the need for timely inspection of tire conditions & providing replacement to them shall further boost the market for replacement demand. Moreover, stringent government regulations to reduce the number of road accidents are instigating vehicle owners to purchase replacement tires and enhance the safety of the vehicle & passengers. Hence, the burgeoning replacement demand would significantly accelerate the growth of the japan tire market over the forecast years.

Market Dynamics:

Key Driver: The Growing Penetration of Electric Vehicles (EVs) in Japan

With the escalating need to curb carbon emissions from the environment, the government of Japan is encouraging the public to adopt EVs and reduce the utilization of fossil fuels since it aims to bring 100% transition to EVs by 2035, which is when all new vehicles would be environmentally friendly. Hence, the government is offering several favorable policies & subsidies for purchasing EVs, which, in turn, is generating lucrative growth opportunities for the leading players to develop & introduce an extensive range of tires for EVs and boost the Japan Tire Market during 2021-26.

Key Questions Answered in the Market Research Report:

  1. What are the overall statistics or estimates (Overview, Size- By Value, Forecast Numbers, Segmentation, Shares) of the Japan Tire Market?
  2. What are the region-wise industry size, growth drivers, and challenges?
  3. What are the key innovations, opportunities, current & future trends, and regulations in the Japan Tire Market?
  4. Who are the key competitors, their key strengths & weaknesses, and how do they perform in the Japan Tire Market based on the competitive benchmarking matrix?
  5. What are the key results derived from surveys conducted during the Japan Tire Market study?

Frequently Asked Questions

A. The Japan Tire Market is projected to grow at a CAGR of around 4% during 2021-26.

A. Passenger cars are anticipated to emerge as an area of remunerative opportunities for the leading players in the Japan Tire Market through 2026.

A. The burgeoning EV sales in Japan, owing to growing awareness about reducing carbon emissions, is the key growth opportunity projected to drive the Japan Tire Market in the coming years.

  1. Introduction
    1. Product Definition
    2. Research Process
    3. Assumptions
    4. Market Segmentation
  2. Preface
  3. Executive Summary
  4. Impact of COVID-19 on Japan Tire Market
  5. Expert Verbatim-Interview Excerpts of industry experts
  6. Japan Tire Market Analysis, 2016-2026F
    1. Market Size & Analysis
      1. Revenues in (USD Billion)
      2. Units Sold in Million
    2. Market Share & Analysis
      1. By Vehicle Type
        1. Passenger Cars
          1. SUV
          2. Sedan
          3. Hatchback & Bakkies
        2. Light Commercial Vehicles (LCV)
          1. Light Trucks
          2. Light Buses
          3. Pickup trucks & Vans
        3. Medium & High Commercial Vehicles
          1. Bus
          2. Truck
        4. Two Wheelers
          1. Moped
          2. Scooters
          3. Motorcycles
        5. Off the Road (OTR)
          1. Earthmoving Equipment
          2. Material Handling Equipment
          3. Industrial & Mining Equipment
      2. By Demand Type
        1. OEM
        2. Replacement
      3. By Type of Tire
        1. Radial
        2. Bias
      4. By Season
        1. All Season
        2. Summer
      5. By Sales Channel
        1. Online
        2. Dealers/ Exclusive Outlets
        3. Others
      6. By Rim Size
        1. Upto 12
        2. 12.1” to 15”
        3. 15.1.” to 18”
        4. 18.1” to 20”
        5. 20.1” to 22.5”
        6. 22.6” to 26”
        7.  26.1” to 35”
        8. 35.1” to 47”
        9. Above 47”
      7. By Price Category
        1. Low
        2. Medium
        3. High
      8. By Country
        1. Hokkaido
        2. Tohoku
        3. Kanto
        4. Chubu
        5. Others
      9.  By Company
        1. Market Shares, By Revenue
        2. Strategic Factorial Indexing
        3. Competitor Placement in MarkNtel Quadrant
    3. Market Attractiveness Index
      1. By Type of Vehicle
      2. By Demand Type
      3. By Type of Tire
      4. By Season
      5. By Sales Channel
      6. By Rim Size
      7. By Price Category
      8. By Country
    4. By Competitors
      1. Total Units Sold
      2. Market Share
  7. Japan Passenger Car Tire Market Outlook, 2016-2026F
    1. Market Size & Analysis
      1. Units Sold in Million
      2. Revenues in USD Billion
    2. Market Share & Analysis
      1. By Type of Vehicle
        1. Sedan
        2. SUV
        3. Hatchbacks & Others
      2. OEM Vs Replacement
      3. By Radial Vs Bias
      4. By Region
      5. By Season
      6. By Sales Channel
      7. By Tire Rim Size
      8. By Leading Companies
    3. Passenger Car Tire Market Attractiveness Indexing
      1. By Type of Vehicle
      2. By Season
      3. By Sales Channel
  8. Japan Light Commercial Vehicle Tire Market Outlook, 2016-2026F
    1. Market Size & Analysis
      1. Units Sold in Million
      2. Revenues in USD Billion
    2. Market Share & Analysis
      1. By Type of Vehicle
        1. Light Trucks
        2. Light Buses
        3. Pick-Up Trucks & Vans
      2. OEM Vs Replacement
      3. By Radial Vs Bias
      4. By Region
      5. By Season
      6. By Sales Channel
      7. By Tire Rim Size
      8. By Leading Companies
    3. Light Commercial Vehicle Tire Market Attractiveness Indexing
      1. By Type of Vehicle
      2. By Season
      3. By Sales Channel
  9. Japan Medium & Heavy Commercial Vehicle Tire Market Outlook, 2016-2026F
    1. Market Size & Analysis
      1. Units Sold in Million
      2. Revenues in USD Billion
    2. Market Share & Analysis
      1. By Type of Vehicle
        1. Trucks
        2. Bus
      2. OEM Vs Replacement
      3. By Radial Vs Bias
      4. By Region
      5. By Season
      6. By Sales Channel
      7. By Tire Rim Size
      8. By Leading Companies
    3. Medium & Heavy Commercial Vehicle Tire Market Attractiveness Indexing
      1. By Type of Vehicle
      2. By Season
      3. By Sales Channel
  10. Japan Two-Wheeler Tire Market Outlook, 2016-2026F
    1. Market Size & Analysis
      1. Units Sold in Million
      2. Revenues in USD Billion
    2. Market Share & Analysis
      1. By Type of Vehicle
        1. Motorcycles
        2. Scooters & Mopeds
      2. OEM Vs Replacement
      3. By Radial Vs Bias
      4. By Region
      5. By Season
      6. By Sales Channel
      7. By Tire Rim Size
      8. By Leading Companies
    3. Two-Wheeler Tire Market Attractiveness Indexing
      1. By Type of Vehicle
      2. By Season
      3. By Sales Channel
  11. Japan OTR Vehicle Tire Market Outlook, 2016-2026F
    1. Market Size & Analysis
      1. Units Sold in Million
      2. Revenues in USD Billion
    2. Market Share & Analysis
      1. By Type of Vehicle
        1. Earth Moving Equipment
        2. Construction & Agricultural Vehicle
        3. Material Handling Equipment
      2. OEM Vs Replacement
      3. By Radial Vs Bias
      4. By Region
      5. By Season
      6. By Sales Channel
      7. By Tire Rim Size
      8. By Leading Companies
    3. OTR Vehicle Tire Market Attractiveness Indexing
      1. By Type of Vehicle
      2. By Season
      3. By Sales Channel
  12. Japan Tire Market Value Chain Analysis
    1. Key Stakeholders in Value Chain
    2. Margin at Various Levels
  13. Japan Tire Market Regulations, Policies, Regulation, Product Benchmarks
  14. Japan Tire Market Trends & Insights
  15. Japan Tire Market Dynamics
    1. Drivers
    2. Challenges
    3. Impact Analysis
  16. Japan Tire Market Hotspot & Opportunities
  17.  Japan Tire Market Key Strategic Imperatives for Success & Growth
  18. Japan Tire Market Import & Export Statistics
  19. Competition Outlook
    1. Competition Matrix
      1. Product Portfolio
      2. Target Markets
      3. Research & Development
      4. Strategic Alliances
      5. Strategic Initiatives
    2. Company Profiles of Top Companies (Business Description, Product Segments, Business Segments, Financials, Strategic Alliances/ Partnerships, Future Plans)
      1. Bridgestone Corporation
      2. Sumitomo Rubber Industries Limited
      3. Yokohama Rubber Company Limited
      4. Toyo Tires & Rubber Company Limited
      5. Kumho Tire Japan Inc
      6. Japan Michelin tire Co Ltd
      7. Japan Goodyear Inc
      8. Japan Pirelli Inc
      9. Hankook Tire Japan
  20.  Disclaimer
Japan Tire Market Segmentation