Japan Tire Market Stays on the Road

  • The market has been divided into passenger car, light truck, truck and bus, special vehicle, and motorcycle tyres.
  • The replacement tires segment exhibits a clear dominance in the market.
  • Expansion of the e-retail sector in Japan has offered significant traction to online tire sales.

A tire is a ring-shaped strong, flexible and pneumatic structure that is placed around the rim of a wheel.  Manufactured using wire, fabric, carbon black, natural or synthetic rubber, and other chemical additives, the primary function of a tire is to transfer the vehicle’s load on the surface and to provide a sturdy grip between the road and the vehicle.

It also offers a flexible cushion to absorb shock and reduce the impact of vibrations, enhancing road feel and improving the overall performance of the vehicle.

Replacement tires exhibit a clear dominance in the market.

According to the latest report by IMARC Group, the Japan tire market size reached 163.1 Million Units in 2019.

Japan Tire Market Trends

The market for tires in Japan is primarily driven by the establishment of one of the most prominent automotive industries on a global level. Numerous key players, including Honda, Suzuki, Nissan, Toyota, Kawasaki, Mitsubishi and Yamaha, are based in Japan. In an effort to meet the domestic as well as the global demand for automobiles, manufacturers are significantly increasing production, thereby providing a thrust to the sales of tires.

Rapid urbanization and the increasing purchasing power of the majority of the population have contributed to large vehicle ownership in the country. This has catalyzed demand for replacement tires, which is further providing an impetus to market growth.

Moreover, the expansion of the e-retail sector in Japan has offered significant traction to online tire sales, owing to the numerous associated benefits, such as reduced prices, vast product portfolio, brand comparison and fast delivery. On account of the aforementioned factors, the market is projected to reach a volume of 167.2 Million Units by 2025.

Market Segmentation and Summary:

The primary function of a tire is to transfer the vehicle’s load on the surface and to provide a sturdy grip between the road and the vehicle.

On the basis of the vehicle type, the market has been divided into passenger car, light truck, truck and bus, special vehicle, and motorcycle tires. Among these, the passenger car tires dominated the market share.

Based on the OEM and replacement segments, replacement tires exhibit a clear dominance in the market.

The Japan tire market has been bifurcated on the basis of the radial and bias tires. At present, radial tires account for the majority of the total market share.

According to analysis based on tube and tubeless tires, tubeless tires currently represent the largest segment.

The competitive landscape of the market has been examined in the report with the detailed profiles of the key players operating in the market.

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IMARC is a leading market research company that provides market and business research intelligence across the globe. We partner with clients in all regions and industry verticals to identify their highest-value opportunities, address their most critical challenges, and transform their businesses. 0

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