Japan tire market is projected to cross US$ 37 billion by 2027, on the back of increasing production of vehicles and expanding automobile fleet size in the country. Moreover, rising R&D investments in automobile industry and increasing purchasing power of people is positively influencing Japan tire market. Additionally, surging penetration of energy efficient vehicles is further likely to aid the growth of Japan tire market in the coming years.
Japan is the world's third largest developed economy. The country is home to major tire manufacturing companies – Bridgestone Corporation, Sumitomo Rubber Industries, Toyo Tire & Rubber Company and Yokohama Rubber Company. Moreover, with presence of over sixteen automobile majors, including Toyota, Honda, Daihatsu, Nissan, Suzuki, Mazda, Mitsubishi, Subaru, Isuzu, Kawasaki, Yamaha and Mitsuoka, Japan is one of the major automobile hubs in the world.
The Japan tire market is segmented based on vehicle type, tire type, demand category, and by region. Based on tire type, the market can be bifurcated into radial and bias, of which, the radial tire segment is expected to continue its dominance during the forecast period. Based on vehicle type, the market can be fragmented into passenger car, light commercial vehicles, medium & heavy commercial vehicles, two-wheeler and off the road vehicles. The passenger car segment dominated the Japan tire market on account of large fleet and increasing vehicle production and sales of passenger cars. Major player operating in Japan tire market include Bridgestone, Yokohama, Sumitomo, Toyo, and various Chinese tire brands.
Years considered for this report:
Historical Years: 2016-2019
Base Year: 2019
Estimated Year: 2020
Forecast Period: 20210-2027
Objective of the Study:
To perform the study, Vision Research Reports conducted primary as well as exhaustive secondary research. Initially, Vision Research Reports prepared an exhaustive list of tire players operating in the country. Subsequently, TechSci Research conducted primary research surveys, which included primary calls, email responses, etc., with the identified companies. While interviewing, the respondents were also asked about their major competitors. Through this technique, TechSci Research could include manufacturers which could not be identified due to the limitations of secondary research. Vision Research Reports analyzed product offerings, distribution channels, and regional presence of all major tire suppliers across Japan.
Vision Research Reports calculated Japan Tire market size by using a bottom-up approach, where data for various end-user segments was recorded and forecast for the future years. Vision Research Reports sourced these values from the industry experts and company representatives and externally validated through analyzing historical data of these product types and applications for getting an appropriate, overall market size. Various secondary sources such as company websites, news articles, press releases, company annual reports, investor presentations and financial reports were also studied by Vision Research Reports.
Key Target Audience:
The study is useful in providing answers to several critical questions that are important for the industry stakeholders such as manufacturers, suppliers and partners, end users, etc., besides allowing them in strategizing investments and capitalizing on market opportunities.
In this report, Tire market has been segmented into following categories, in addition to the industry trends which have also been detailed below: