Japan Tire Market Hits USD 119.32 million in 2022, Targets 1.8% CAGR Soar Until 2030

Japan Tire Market A Dive from USD 119.32 million in 2022/by 2030 | MarkNtel Advisors

MarkNtel Advisors has recently released an all-encompassing report on Japan Tire Market. The report thoroughly explores the present and future market scenarios, providing valuable insights into market size, share, and competitor segmentation. It also delivers an overview of manufacturers, regions, product categories, and application areas. This extensive research is designed to empower clients with the knowledge required to comprehend and capitalize on market trends for their business strategies.

Forecast 2030: Revealing Japan Tire Market Insights and Analysis

The Japan Tire Market sales volume was 119.32 million units in 2022 and is projected to grow at a CAGR of around 1.8% during the forecast period, i.e., 2024-30.

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Market Opportunity: Leveraging the Electric Vehicle Trend

The government of Japan aims to bring a 100% transition to EVs by 2035, resulting in a growing emphasis on exploring electric vehicles (EVs) trends. EVs often demand specialized tires designed for better energy efficiency and reduced road noise. This preference change might open up new opportunities for tire manufacturers in Japan to cater to the emerging electric vehicle market. By embracing this trend, the Japanese automotive industry garners international investors and partners, positioning itself as an attractive destination for EV-related investments and collaborations. This fosters technology transfers and elevates the industry’s global competitiveness. Besides, re-entering the EV segment allows Japanese tire manufacturers to consolidate their dominance as a major player in the world’s automotive market, further solidifying their reputation for innovation and sustainable mobility solutions.

A Comprehensive Overview of Geographical Diversity:

the Japan Tire Market expands across:

• Hokkaido
• Tohoku
• Kanto
• Chubu
• Others

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Japan Tire Market Segmentation Outline:

• 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), Two Wheelers (Moped, Scooters, Motorcycles), Off the Road (OTR) (Earthmoving Equipment, Material Handling Equipment, Industrial & Mining Equipment))
• By Type of Tire (Radial, Bias)
• By Demand Type (OEM, Replacement)
• By Season (All-Season, Summer)
• By Sales Channel (Online, Dealers/ Exclusive Outlets)
• By Rim Size (Up to 12, 12.1” to 15”, 15.1.” to 18”, 18.1” to 20”, 20.1” to 22.5”, 22.6” to 26”, 26.1” to 35”, 35.1” to 47”, Above 47”), By Price Category (Low, Medium, High) and others

Competitive Outlook

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.

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