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Japan Tire Market Analysis, 2020 research report depicts a deep dive market analysis of statistics of Japan Tire market which consists of regional and country-wise market size, forecast, CAGR market segmentation, market shares of diverse regions and countries, market share of various end-users, applications, product type, technologies, competitive benchmarking, etc.
Impact of COVID-19 on Tire
On account of the perilous COVID-19 crisis has disrupted the supply chain in the early phase of coronavirus as the country was in lockdown. The raw material prices rose and the supply of the raw material delivery got late. The negative effect of COVID-19 impacted the whole automotive sector however, the recovery is expected soon after 2020.
Market Opportunities
According to MarkNtel Advisors’ research report “Japan Tire Market Analysis, 2020”, the Japan Tire market is anticipated to grow at a considerable CAGR during 2021-26. The major growth factor of tires is attributed to the increasing demand for car rental, cab, self-driven cars, and car sharing. Further, the establishment of global brands in the country has strongly contributed to the tires market. Therefore, the burgeoning tires market growth in Japan is expected to boost the demand for tires in the country throughout 2026.
Market Segmentation
Run Flat Tires is Witnessing a Significant Growth
The run flat tire is a technology which enables a vehicle to run on the road for around 80 km even when the air loss or puncture is detected. This innovation contributes in saving the materials since spare tires are not required in the vehicles. Conventional tires use pressurized air to support the weight of the vehicle. However, when the tire is punctured, air escapes and the weight of the vehicle is no longer supported, giving rise to flat tires. Japanese Omikenshi used a material in run flat tires that costs half than usual and are environmental friendly tires in 2020. The new launches would cater new opportunities in coming years as revealed by the MarkNtel Advisors’ research report “Japan Tire Market Analysis, 2020”.
Competitive Landscape
According to MarkNtel Advisors’, the key players with a considerable market share in the Japan Tire market include 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, etc.
Key Questions Answered in the Market Research Report:
Market Outlook, Segmentation and Statistics:
Frequently Asked Questions
Q. What is the historical year, base year and forecast year considered in the research report on Japan Tire Market?
A. The historical data has been provided since 2016, while the base year is 2020 and the data is forecast up-to 2026.
Q. What are the units or denomination for measuring market value and volume in the report?
A. The market size/industry size or the market value is measured in terms of USD Million.
Q. What would be the growth rate or CAGR of Japan Tire Market during 2021-26?
A. The growth rate of Japan Tire Market during 2021-26 is forecast to grow at a considerable CAGR.
Q. Who are the key competitors or players operating in Japan Tire Market?
A 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, etc. are few of the leading players in the Japan Tire Market.
Q. Which type of tire segment would emerge as an opportunity area for players in Japan Tire Market?
A. Bias segment is expected to attain the highest CAGR during the forecast period and maintain its significant market share.
Q. Which region would emerge as an opportunity area for players in Japan Tire Market?
A. Hokkaido grabbed a significant market share continue to grow at a highest CAGR, presenting immense opportunities for market players of Japan Tire Market.
