Japan Tyre Market Research Report, 2029

The Japan tyre market has a rich history and is a significant player in the global automotive industry. As of FY2022, the market was valued at approximately USD 13.05 billion and is projected to grow at a compound annual growth rate (CAGR) of 5.9%, reaching USD 20.68 billion by FY2030. This growth is driven by several factors, including increasing vehicle ownership, technological advancements, and a rising demand for high-quality tyres that enhance fuel efficiency and safety. Historically, Japan has been a leader in automobile manufacturing, with major companies like Toyota, Honda, and Nissan contributing to a robust automotive sector. The tyre industry has evolved alongside this growth, with Japanese manufacturers such as Bridgestone and Yokohama establishing a strong presence both domestically and internationally. The market has seen significant shifts due to changing consumer preferences towards passenger cars, which dominate tyre sales, accounting for about 66.8% of the total tyre market in terms of volume as of 2022. The demand for replacement tyres is particularly notable, reflecting Japan's high vehicle ownership rates and the aging vehicle fleet. In recent years, external factors like the COVID-19 pandemic temporarily disrupted the market, leading to a decline in tyre sales due to economic slowdowns and supply chain challenges. However, post-pandemic recovery has been strong, with a resurgence in vehicle registrations and an increase in e-commerce logistics driving demand for commercial vehicle tyres. Additionally, the ongoing transition towards electric vehicles (EVs) presents both challenges and opportunities for tyre manufacturers, prompting innovations in tyre technology tailored for EV performance. According to the research report "Japan Tyre Market Research Report, 2029," published by Actual Market Research, the Japan Tyre market is expected to reach a market size of more than USD 20Billion by 2029. The Japan tyre market is experiencing robust growth, driven by several key factors, including increasing vehicle ownership, advancements in tyre technology, and a shift towards sustainability. Key players in the Japanese tyre market include Bridgestone Corporation, Sumitomo Rubber Industries Ltd., Yokohama Rubber Company, and Toyo Tire & Rubber Company. These companies collectively dominate over 70% of the market share, emphasizing their significant influence on pricing and product offerings. Their competitive strategies often involve extensive investments in research and development (R&D) to innovate and improve tyre performance, safety, and environmental sustainability. For instance, Bridgestone has committed to developing new tyre recycling technologies by 2030 to reduce its carbon footprint. Recent trends indicate a growing demand for eco-friendly tyres and those designed specifically for electric vehicles (EVs). As the Japanese government aims for all new passenger vehicles to be electric by 2035, tyre manufacturers are adapting their products to meet these emerging needs. The rise of smart vehicles also necessitates advanced tyre technologies that can provide real-time data on performance and safety. Furthermore, the increasing popularity of e-commerce has led to a surge in commercial vehicle usage, further boosting the demand for robust tyres capable of handling heavier loads.

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Passenger car tyres dominate the Japan tyre market, accounting for the largest share in terms of volume. In FY2022, passenger car tyre sales reached around 79,791 thousand units. This significant demand is driven by the growing interest in small passenger cars among the Japanese population and the country's high vehicle ownership rates. Advancements in tyre manufacturing techniques, such as the use of diverse materials like natural rubber (NR), synthetic rubber (SR), and thermoplastic elastomer (TPE), have contributed to the widespread adoption of passenger car tyres by delivering high mileage and extended longevity. Light commercial vehicle tyres also hold a substantial share in the Japan tyre market. The expanding e-commerce logistics and home delivery services have increased the demand for LCVs, consequently driving the need for robust tyres capable of handling heavier loads. Tyre manufacturers are investing in research and development to innovate and improve tyre performance, safety, and environmental sustainability to cater to the evolving needs of the LCV segment. Medium and heavy commercial vehicle tyres account for a significant portion of the Japan tyre market due to the expanding export activities. The increasing focus on sustainability and the growing adoption of eco-friendly practices have prompted tyre manufacturers to develop tyres that meet stricter environmental standards while ensuring optimal performance for medium and heavy commercial vehicles. The demand for two-wheeler tyres in Japan is driven by the country's large population and the popularity of motorcycles as a means of transportation. Tyre manufacturers are designing tyres that offer improved grip, handling, and safety for two-wheelers to meet the specific needs of this segment. Radial tyres dominate the Japanese tyre market, accounting for approximately 69.93% of the market share as of 2023. This design features steel belts that run radially across the tyre, providing enhanced durability, fuel efficiency, and superior handling capabilities. The advantages of radial tyres include better traction, reduced rolling resistance, and improved overall performance, making them the preferred choice for passenger cars and light commercial vehicles. Japanese manufacturers are heavily investing in research and development to innovate within this segment. Recent initiatives include the development of eco-friendly radial tyres that utilize sustainable materials and advanced manufacturing processes to minimize environmental impact. For instance, Bridgestone Corporation has introduced tyres designed specifically for electric vehicles (EVs), focusing on lower rolling resistance to enhance battery efficiency. bias ply tyres have seen a decline in demand within Japan due to their limitations in performance compared to radial tyres. Bias ply construction involves layers of fabric cords placed at angles across the tyre, which can lead to less stability during cornering and a higher susceptibility to overheating. As a result, these tyres are often viewed as less suitable for modern driving conditions that demand high performance and safety.Despite their declining popularity, bias ply tyres still find niche applications in specific markets such as vintage vehicles or certain agricultural machinery where their unique characteristics may be beneficial. The OEM segment holds the largest share of the Japanese tyre market, primarily due to the country's robust automotive manufacturing industry. Japan is home to major automobile manufacturers such as Toyota, Honda, Nissan, and Mazda, which drive significant demand for tyres that are fitted to new vehicles at the factory. The OEM segment benefits from the high concentration of these manufacturers, who often collaborate with tyre companies to develop tyres tailored to specific vehicle models. This collaboration ensures that the tyres meet stringent safety and performance standards, which are critical in a competitive automotive market. Distribution channels for OEM tyres typically involve direct partnerships between tyre manufacturers and automotive producers. These partnerships facilitate streamlined supply chains, enabling manufacturers to deliver tyres directly to assembly plants. The replacement tyre segment has also seen substantial growth, driven by an increasing number of vehicles on the road and a growing awareness among consumers regarding tyre maintenance and safety. As of FY2022, replacement tyres accounted for about 66.8% of total tyre sales in Japan, highlighting their significance in the market. This growth is largely attributed to rising disposable incomes among consumers, leading to higher vehicle ownership rates and increased demand for replacement tyres as vehicles age. Distribution channels for replacement tyres are more diverse compared to OEM tyres. They include various retail outlets such as dedicated tyre shops, automotive service centers, and general automotive parts retailers.

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Nikita Jabrela

Business Development Manager

COVID-19 Impact The Covid-19 pandemic affected almost every industry vertical across the globe and the tire market in the region of North America was no exception. The enforcement of lockdowns along with the travel restrictions across countries significantly affect the tire market. The situation of lockdowns caused production in the automobile industry to stop which affected the demand from the OEM sector. On the other hand the market was also observing decline from the replacement sector during the pandemic as the requirement for new tires declined. Key Players Apollo Tires, Bridgestone, CEAT Tires, Continental, Giti, Goodyears Tires, Hankook, JK tires, Kenda Kumho, Maxxis International, Michelin, MRF, Nexen Tire Corp, Nokian Tires, Pirelli, Sailun Group Co., Ltd, Sumitomo Rubber Industries, Titan International , Toyo Tire Corporation, Triangle Tire Co, Zhongce Rubber Group Co, Yokohama, Doublestar Tire, Linglong, Nankang Considered in the report • Geography: Japan • Base Year: 2023 • Historical year: 2018 • Forecasted Year: 2029

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Aspects covered in the report • Market Size by Value (2018-2029F) • Market Size by Volume (2018-2029F) • Market Share by Vehicle Type • Market Share by End Use • Market Share by Design • Market Share by Sales Channel • Market Share by Country The approach of the report: We keep an eye on evolving markets and try to evaluate the potential of the products and services. If we find the market interesting, we start working on it and create the desired table of content, considering all aspects of the business. We start by creating separate questionnaires for C-level executives, national/regional sales personnel, company owners, dealers, distributors, and end-users. Once the questionnaires have been finalized, we start collecting the primary data (mostly through phone calls) and try to understand the market dynamics regionally or tier-wise. This process gives us in-depth details of the market, including all present companies, the top-performing products with reasons why they dominate; we get the details of new players and their innovative approaches; market trends; dynamics; and all the small details of the market. After the collection of primary inputs, we then cross-check the same with secondary sources that include associations, trade journals, annual reports, paid databases, newspapers, magazines, press releases, government sources, etc. From this, we get a rough estimate of the market and start checking existing product price variants, trade, production, raw material scenarios, policies and regulatory landscape, etc. Then, to finalize the market, we start collecting financials of each player present in the market, including limited, private limited, and LLPs. Moreover, we perform cross-industry and cross-region analysis of the product, and based on collected primary inputs and using statistical modeling, we start forecasting the market. We follow our forecasting algorithm, which is unique for each product but gives more weight age to primary inputs. At the same time, the content team starts preparing company profiles, market dynamics, market trends, five forces, PEST analysis, etc. Once the data is verified by the data expert, the team (primary team, content team, and data team) together crosscheck the segmentations, validate the market, and then the designing team starts plotting the graphs. Once the file is ready, the content team completes the report and makes sure that all the discussed points have been covered and provides their valuable inputs in the form of strategic recommendations for new as well as existing players. The QC team then checks the overall report that includes spell check, data verification, and makes the same dispatch ready and error-free. Intended Audience This report can be useful to industry consultants, manufacturers, suppliers, associations & organizations related to the Automotive and Transport industry, government bodies, and other stakeholders to align their market-centric strategies. In addition to marketing & presentations, it will also increase competitive knowledge about the industry.