Japan's tire market is projected to witness a modest growth at a CAGR of 2.3% during the forecast period (2020-2026). As per the Japan Automobile Tyre Manufacturers Association, Inc. (JATMA), vehicle manufacturing is increasing continuously in the country. The tire production is nearly flat in the country as it was less than 1,100 KT (rubber quantity) between 2015 and 2018 (1,060 KT in 2018) as compared to 1,121 KT in 2014. The country’s tire market is expected to grow due to increased exports, modest growth in vehicle sales, and significant demand for high-performance tires. 

Japan tire market is segmented on the basis of vehicle type, road application, construction, tire type, and sales channel. By vehicle type, the market is further segmented into passenger cars, light & medium commercial vehicles, heavy commercial vehicles, two-wheeler, and other. Passenger cars a major market share during the forecast period. As per the JATMA, in 2018, around 109.8 million tires for passenger cars were manufactured followed by light trucks with 21.9 million. By the sales channel, the market is segmented into OEM and aftermarket. The aftermarket holds a major market share. The aftermarket tier sales were around 74.3 million in 2018 as compared to 46.2 million for OEM in 2018. 

Some of the key players of the Japan tire market include Bridgestone Corp., Sumitomo Rubber Industries, Ltd., The Yokohama Rubber Co., Ltd., Toyo Tire Corp., Goodyear Tire and Rubber Co. among others. The market players are significantly contributing to the market growth by adopting various strategies including mergers, & acquisitions, collaborations, new product launch, and geographical expansion, to stay competitive in the market. 

Research Methodology

The market study of the Japan tire market is incorporated by extensive primary and secondary research conducted by the research team at OMR. Secondary research has been conducted to refine the available data to breakdown the market into various segments, derive total market size, market forecast, and growth rate. Different approaches have been worked on to derive the market value and market growth rate. Our team collects facts and data related to the market from different geography to provide a better regional outlook. In the report, the country-level analysis is provided by analyzing various regional players, regional tax laws and policies, consumer behavior, and macro-economic factors. Numbers extracted from secondary research have been authenticated by conducting proper primary research. It includes tracking down key people from the industry and interviewing them to validate the data. This enables our analyst to derive the closest possible figures without any major deviations in the actual number. Our analysts try to contact as many executives, managers, key opinion leaders, and industry experts as to bring more authenticity to the reports.

Secondary Sources Include

• Financial reports of companies involved in the market.
• Whitepapers, research-papers, and news blogs.
• Company websites and their product catalog.

The report is intended for tire manufacturers & distributors, automakers, auto-ancillary companies, start-ups, venture capitalists, seed funders, research organizations, and other related organizations for overall market analysis and competitive analysis. The report provides an in-depth analysis of market size, products offered by the companies, and future market opportunities. The report will serve as a source for a 360-degree analysis of the market thoroughly delivering insights into the market for making better business decisions. 

Market Segmentation

1. Japan Tire Market Research and Analysis by Vehicle Type
2. Japan Tire Market Research and Analysis by Road Application 
3. Japan Tire Market Research and Analysis by Construction
4. Japan Tire Market Research and Analysis by Tire Type
5. Japan Tire Market Research and Analysis by Sales Channel

The Report Covers

• Comprehensive research methodology of the Japan Tire market.
• This report also includes a detailed and extensive market overview with key analyst insights.
• An exhaustive analysis of macro and micro factors influencing the market guided by key recommendations.
• Analysis of regional regulations and other government policies impacting the Japan Tire industry.
• Insights about market determinants which are stimulating the Japan Tire market.
• Detailed and extensive market segments with regional distribution of forecasted revenues.
• Extensive profiles and recent developments of market players.