Analytical Study of Low Rolling Resistance Tire in Japan from (2023 to 2033)
The demand for low rolling resistance tire in Japan is estimated to rise at a 10.90% CAGR through 2033. The overall adoption of low rolling resistance tire in Japan is likely to surge considerably, crossing a valuation of US$ 9,485.10 million in 2023. By 2033, sales projections for low rolling resistance tire in Japan indicate attaining a valuation of US$ 26,690.54 million.
Key Trends to Boost Sales through 2033:
The growing emphasis on environmental sustainability in Japan is driving demand for tires with better eco-credentials, including fuel efficiency and eco-friendly materials and manufacturing processes.
The incorporation of digital technology and sensor-equipped tires is a notable development. This enables real-time data collection on tire states, pressure, and road conditions, aligning with Japan's technologically advanced automobile sector.
Run-flat tire technology, which allows cars to continue driving for a limited distance despite tire damage or loss of pressure, has been gaining popularity due to its safety benefits.
Japan is at the forefront of autonomous vehicle and connected car technology development. This trend is boosting the demand for tires with advanced sensors and smart capabilities to assist autonomous driving systems and leverage 5G connectivity.
Customers in Japan value a peaceful and comfortable journey. Tires designed to reduce road noise and improve riding comfort are gaining popularity.
The rise of ride-sharing services and corporate fleets in Japan has increased demand for long-lasting tires that can withstand severe use and provide long-term cost benefits.
With an emphasis on electric vehicle adoption, there is a need for high-performance tires specifically developed to meet the demands of electric vehicles, such as efficient energy utilization and quieter operation.
Attributes
Details
Industry Size of Japan in 2023
US$ 9,485.10 million
Expected Industry Size of Japan by 2033
US$ 26,690.54 million
Forecasted CAGR between 2023 to 2033
10.90%
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Key Insights - Highlights on the Emerging Opportunities in the Low Rolling Resistance Tire Industry in Japan
The elderly population of Japan presents opportunities for the development of customized transportation solutions. Tire manufacturers can seize the chance to create tires for self-driving cars, ride-sharing platforms, and vehicles designed for senior passengers.
The expanding tourism industry in Japan and domestic travel patterns present an opportunity for tire producers to target the industry for recreational vehicle (RV) tires and long-distance travel tires that cater to tourists and travelers.
The thriving logistics and delivery sector provides an opportunity for tire producers to supply tires that meet the specific needs of commercial vehicles, such as delivery trucks and logistics fleets, capitalizing on this business-to-business potential.
The development and sale of luxurious tire accessories, such as custom rims, tire pressure monitoring systems (TPMS), and tire shining treatments, offer opportunities to complement the tire industry, thereby satisfying enthusiasts and vehicle owners looking to enhance the appearance and performance of their vehicles.
Businesses can provide services for gathering, analyzing, and offering insights on tire performance and maintenance by leveraging the power of data analytics. This data-driven strategy enhances the overall driving experience and operational efficiency, appealing to customers and businesses seeking improved results.
Comparative View of Adjacent Low Rolling Resistance Tire in Key Markets
The table provides a comparative overview of low rolling resistance tires and their respective adoption rates in Japan, Korea, and Western Europe. According to the analysis, Japan's increasing focus on sustainability is driving recycling initiatives for proper tire disposal. There is also a growing demand for tires that are fuel-efficient and made using eco-friendly materials and production processes.
In Korea, the integration of digital technologies and sensor-equipped tires is gaining prominence. However, the rising material costs are impacting the profitability and production costs for Korean tire manufacturers.
In Western Europe, innovations in material science are on the rise. New materials, such as advanced rubber compounds or nanomaterials, are being incorporated to enhance the performance and durability of tires.
Industry Analysis of Low Rolling Resistance Tire in Japan:
Attributes
Industry Analysis of Low Rolling Resistance Tire in Japan
Japan CAGR between 2023 and 2033
10.90%
Industry Size of Japan in 2023
US$ 9,485.10 million
Key Trend in Japan
Growing recycling initiatives for responsible tire disposal.
Key Challenge
Demand volatility makes it difficult to manage inventory levels.
Demand for Low Rolling Resistance Tire in Korea:
Attributes
Demand for Low Rolling Resistance Tire in Korea
CAGR (2023 to 2033)
8.70%
Valuation (2023)
US$ 1,540.40 million
Key Trend
Surging demand for smart and sustainable tires.
Key Challenge
Rising materials costs impact profitability and production costs.
Opportunity Assessment for Low Rolling Resistance Tire in Western Europe:
Attributes
Opportunity Assessment for Low Rolling Resistance Tire in Western Europe
CAGR (2023 to 2033)
9.50%
Valuation (2023)
US$ 315,345 million
Key Trend
Increasing material science innovations.
Key Challenge
Rise of alternate transportation solutions like electric scooters and bike-sharing.
Find your sweet spots for generating winning opportunities in this market.
Category-wise insights
HCVs Experience Increased Demand Due to the Booming eCommerce Sector
Leading Vehicle Type for Low Rolling Resistance Tire in Japan
HCV
Total Value Share (2023)
50.7%
The demand for Heavy Commercial Vehicles (HCVs) is on the rise in Japan, driven by the growth of the economy and the initiation of large-scale infrastructure projects. These vehicles play a crucial role in transporting heavy equipment and building materials in order to support the expanding construction and development operations. Additionally, the booming eCommerce and online retail sectors are contributing to the surge in demand for HCVs. They are essential for efficiently transporting goods from distribution hubs to end users. The application of HCVs is further propelled by the increase in logistical activities, particularly in last-mile deliveries. Moreover, businesses are making investments in technologically advanced models to replace aging HCV fleets. These newer vehicles offer enhanced fuel efficiency, improved safety features, and compliance with environmental standards, all of which align with sustainability goals.
Dual Width Type Gains Maximum Shares Due to High Versatility Features
Leading Width Type for Low Rolling Resistance Tire in Japan
Dual
Total Value Share (2023)
82.7%
Dual-width vehicles, equipped with adjustable wheel widths, are gaining popularity due to their versatility. They are highly suitable for use in both urban and rural environments, making them an excellent choice for agricultural applications, especially in economically viable agricultural regions. The adaptability of dual-width vehicles enables efficient maneuvering through tight spaces in areas with narrow and constrained rural roads, thereby enhancing operational efficiency for farmers and agricultural workers. Manufacturers are actively meeting consumer demands for multi-purpose, versatile vehicles capable of performing a range of tasks in diverse urban and rural settings. This adaptability ensures that the products align with evolving consumer preferences and needs.
Competitive Landscape
The competitive landscape of the low rolling resistance tire industry in Japan is characterized by a balance between established domestic manufacturers and global tire giants, all vying for a share of an industry driven by environmental consciousness and fuel efficiency.
Bridgestone, Yokohama, and Sumitomo Rubber Industries are leading Japanese tire companies with a significant presence. They leverage their reputation for quality and innovation by investing substantially in research and development to offer eco-friendly tire solutions that meet Japan's stringent environmental standards.
Michelin, Continental, and Goodyear are among the global tire manufacturers actively competing in the Japan low rolling resistance tire industry. These international players are adapting their products to meet the needs of Japanese consumers while still complying with regulatory requirements.
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Strategies for Key Players to Tap into Potential Growth Opportunities
Emphasize low rolling resistance tires designed for cost savings and efficiency to attract commercial fleet clients.
Provide extensive service and warranty packages to differentiate products and boost client confidence.
Use data analytics to get insights into consumer behavior, which can then be used to guide product development and marketing.
Invest in green manufacturing and recycling initiatives to emphasize environmental stewardship.
Increase visibility by forming partnerships with local tire shops and eCommerce platforms.
Recent Developments in Low Rolling Resistance Tire in Japan
In March 2023, Sumitomo Rubber Industries introduced the FALKEN e. ZIEX, a new range of replacement tires for electric cars (EVs) in Europe, where the EV industry is rapidly expanding. The e. ZIEX is Sumitomo's second line of replacement tires built for EVs, complementing the DUNLOP e. SPORT MAXX, which debuted in China last year. It offers the highest degree of fuel (energy) economy of any tire the firm has supplied.
Michelin Japan began selling the X Multi Energy Z, a fuel-efficient tire for truck buses, in March 2023. The dimensions are 275/80R22.5. The tire was designed for heavy-duty medium- and long-distance vehicles.
Some of the Key Players in Low Rolling Resistance Tire in Japan
Bridgestone Corporation
Yokohama Rubber Co., Ltd.
Sumitomo Rubber Industries, Ltd. (Dunlop)
Toyo Tire Corporation
Nokian Tyres plc
Michelin Group
Continental AG
The Goodyear Tire & Rubber Company
Pirelli & C. S.p.A.
Hankook Tire & Technology Co., Ltd.
Scope of the Report
Attribute
Details
Estimated Industry Size in 2023
US$ 9,485.10 million
Projected Industry Size by 2033
US$ 26,690.54 million
Anticipated CAGR between 2023 to 2033
10.90% CAGR
Historical Analysis of Demand for Low Rolling Resistance Tire in Japan
2018 to 2022
Demand Forecast for Low Rolling Resistance Tire in Japan
2023 to 2033
Report Coverage
Industry Size, Industry Trends, Analysis of key factors influencing Low Rolling Resistance Tire adoption in Japan, Insights on Global Players and their Industry Strategy in Japan, Ecosystem Analysis of Local and Regional Japan Manufacturers
Key Cities Analyzed While Studying Opportunities in Low Rolling Resistance Tire in Japan
Kanto
Chubu
Kinki
Kyushu & Okinawa
Tohoku
Rest of Japan
Key Companies Profiled
Bridgestone Corporation
Yokohama Rubber Co., Ltd.
Sumitomo Rubber Industries, Ltd. (Dunlop)
Toyo Tire Corporation
Nokian Tyres plc
Michelin Group
Continental AG
The Goodyear Tire & Rubber Company
Pirelli & C. S.p.A.
Hankook Tire & Technology Co., Ltd.
Key Segments
By Vehicle Type:
Passenger Vehicle
Light Commercial Vehicle
Heavy Commercial Vehicle
By Width Type:
Dual Type
Wide Band Type
By Sales Channel:
OEM
Aftermarket
By City:
Kanto
Chubu
Kinki
Kyushu & Okinawa
Tohoku
Rest of Japan
Frequently Asked Questions
How Rapidly is the Demand for Low Rolling Resistance Tire in Japan Growing?
The expected CAGR for the low rolling resistance tire industry in Japan through 2033 stands at 10.90%.
What is the Demand Outlook for Low Rolling Resistance Tire in Japan?
The demand for low rolling resistance tire in Japan is projected to reach US$ 26,690.54 million by 2033.
Which Trends Influence the Demand for Low Rolling Resistance Tire in Japan?
Environmental awareness and tech integration propel low rolling resistance tire demand in Japan.
What Strategies are used by Low Rolling Resistance Tire Manufacturers in Japan?
Low rolling resistance tire manufacturers emphasize innovation and technological advancements for diverse applications.
What is the Leading Vehicle Type for Low Rolling Resistance Tire in Japan?
HCVs create immense demand for low rolling resistance tire in Japan.
Table of Content
1. Executive Summary
1.1. Japan Market Outlook
1.2. Demand-side Trends
1.3. Supply-side Trends
1.4. Technology Roadmap Analysis
1.5. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Market Background
3.1. Market Dynamics
3.1.1. Drivers
3.1.2. Restraints
3.1.3. Opportunity
3.1.4. Trends
3.2. Scenario Forecast
3.2.1. Demand in Optimistic Scenario
3.2.2. Demand in Likely Scenario
3.2.3. Demand in Conservative Scenario
3.3. Opportunity Map Analysis
3.4. Product Life Cycle Analysis
3.5. Supply Chain Analysis
3.5.1. Supply Side Participants and their Roles
3.5.1.1. Producers
3.5.1.2. Mid-Level Participants (Traders/ Agents/ Brokers)
3.5.1.3. Wholesalers and Distributors
3.5.2. Value Added and Value Created at Node in the Supply Chain
3.5.3. List of Raw Material Suppliers
3.5.4. List of Existing and Potential Buyer’s
3.6. Investment Feasibility Matrix
3.7. Value Chain Analysis
3.7.1. Profit Margin Analysis
3.7.2. Wholesalers and Distributors
3.7.3. Retailers
3.8. PESTLE and Porter’s Analysis
3.9. Regulatory Landscape
3.9.1. By Key Regions
3.10. Regional Parent Market Outlook
3.11. Production and Consumption Statistics
3.12. Import and Export Statistics
4. Japan Industry Analysis and Outlook 2018 to 2022 and Forecast, 2023 to 2033
4.1. Historical Market Size Value (US$ Million) & Volume (Units) Analysis, 2018 to 2022
4.2. Current and Future Market Size Value (US$ Million) & Volume (Units) Projections, 2023 to 2033
4.2.1. Y-o-Y Growth Trend Analysis
4.2.2. Absolute $ Opportunity Analysis
5. Japan Industry Analysis and Outlook 2018 to 2022 and Forecast 2023 to 2033, By Sales Channel
5.1. Introduction / Key Findings
5.2. Historical Market Size Value (US$ Million) & Volume (Units) Analysis By Sales Channel, 2018 to 2022
5.3. Current and Future Market Size Value (US$ Million) & Volume (Units) Analysis and Forecast By Sales Channel, 2023 to 2033
5.3.1. Aftersales
5.3.2. OEM
5.4. Y-o-Y Growth Trend Analysis By Sales Channel, 2018 to 2022
5.5. Absolute $ Opportunity Analysis By Sales Channel, 2023 to 2033
6. Japan Industry Analysis and Outlook 2018 to 2022 and Forecast 2023 to 2033, By Vehicle Type
6.1. Introduction / Key Findings
6.2. Historical Market Size Value (US$ Million) & Volume (Units) Analysis By Vehicle Type, 2018 to 2022
6.3. Current and Future Market Size Value (US$ Million) & Volume (Units) Analysis and Forecast By Vehicle Type, 2023 to 2033
6.3.1. HCVs
6.3.2. LCVs
6.3.3. Passenger Cars
6.4. Y-o-Y Growth Trend Analysis By Vehicle Type, 2018 to 2022
6.5. Absolute $ Opportunity Analysis By Vehicle Type, 2023 to 2033
7. Japan Industry Analysis and Outlook 2018 to 2022 and Forecast 2023 to 2033, By Width Type
7.1. Introduction / Key Findings
7.2. Historical Market Size Value (US$ Million) & Volume (Units) Analysis By Width Type, 2018 to 2022
7.3. Current and Future Market Size Value (US$ Million) & Volume (Units) Analysis and Forecast By Width Type, 2023 to 2033
7.3.1. Dual Type
7.3.2. Wide Band Type
7.4. Y-o-Y Growth Trend Analysis By Width Type, 2018 to 2022
7.5. Absolute $ Opportunity Analysis By Width Type, 2023 to 2033
8. Japan Industry Analysis and Outlook 2018 to 2022 and Forecast 2023 to 2033, By Region
8.1. Introduction
8.2. Historical Market Size Value (US$ Million) & Volume (Units) Analysis By Region, 2018 to 2022
8.3. Current Market Size Value (US$ Million) & Volume (Units) Analysis and Forecast By Region, 2023 to 2033
8.3.1. Kanto
8.3.2. Chubu
8.3.3. Kinki
8.3.4. Kyushu & Okinawa
8.3.5. Tohoku
8.3.6. Rest of Japan
8.4. Market Attractiveness Analysis By Region
9. Kanto Industry Analysis and Outlook 2018 to 2022 and Forecast 2023 to 2033
9.1. Historical Market Size Value (US$ Million) & Volume (Units) Trend Analysis By Market Taxonomy, 2018 to 2022
9.2. Market Size Value (US$ Million) & Volume (Units) Forecast By Market Taxonomy, 2023 to 2033
9.2.1. By Sales Channel
9.2.2. By Vehicle Type
9.2.3. By Width Type
9.3. Market Attractiveness Analysis
9.3.1. By Sales Channel
9.3.2. By Vehicle Type
9.3.3. By Width Type
9.4. Key Takeaways
10. Chubu Industry Analysis and Outlook 2018 to 2022 and Forecast 2023 to 2033
10.1. Historical Market Size Value (US$ Million) & Volume (Units) Trend Analysis By Market Taxonomy, 2018 to 2022
10.2. Market Size Value (US$ Million) & Volume (Units) Forecast By Market Taxonomy, 2023 to 2033
10.2.1. By Sales Channel
10.2.2. By Vehicle Type
10.2.3. By Width Type
10.3. Market Attractiveness Analysis
10.3.1. By Sales Channel
10.3.2. By Vehicle Type
10.3.3. By Width Type
10.4. Key Takeaways
11. Kinki Industry Analysis and Outlook 2018 to 2022 and Forecast 2023 to 2033
11.1. Historical Market Size Value (US$ Million) & Volume (Units) Trend Analysis By Market Taxonomy, 2018 to 2022
11.2. Market Size Value (US$ Million) & Volume (Units) Forecast By Market Taxonomy, 2023 to 2033
11.2.1. By Sales Channel
11.2.2. By Vehicle Type
11.2.3. By Width Type
11.3. Market Attractiveness Analysis
11.3.1. By Sales Channel
11.3.2. By Vehicle Type
11.3.3. By Width Type
11.4. Key Takeaways
12. Kyushu & Okinawa Industry Analysis and Outlook 2018 to 2022 and Forecast 2023 to 2033
12.1. Historical Market Size Value (US$ Million) & Volume (Units) Trend Analysis By Market Taxonomy, 2018 to 2022
12.2. Market Size Value (US$ Million) & Volume (Units) Forecast By Market Taxonomy, 2023 to 2033
12.2.1. By Sales Channel
12.2.2. By Vehicle Type
12.2.3. By Width Type
12.3. Market Attractiveness Analysis
12.3.1. By Sales Channel
12.3.2. By Vehicle Type
12.3.3. By Width Type
12.4. Key Takeaways
13. Tohoku Industry Analysis and Outlook 2018 to 2022 and Forecast 2023 to 2033
13.1. Historical Market Size Value (US$ Million) & Volume (Units) Trend Analysis By Market Taxonomy, 2018 to 2022
13.2. Market Size Value (US$ Million) & Volume (Units) Forecast By Market Taxonomy, 2023 to 2033
13.2.1. By Sales Channel
13.2.2. By Vehicle Type
13.2.3. By Width Type
13.3. Market Attractiveness Analysis
13.3.1. By Sales Channel
13.3.2. By Vehicle Type
13.3.3. By Width Type
13.4. Key Takeaways
14. Rest of Japan Industry Analysis and Outlook 2018 to 2022 and Forecast 2023 to 2033
14.1. Historical Market Size Value (US$ Million) & Volume (Units) Trend Analysis By Market Taxonomy, 2018 to 2022
14.2. Market Size Value (US$ Million) & Volume (Units) Forecast By Market Taxonomy, 2023 to 2033
14.2.1. By Sales Channel
14.2.2. By Vehicle Type
14.2.3. By Width Type
14.3. Market Attractiveness Analysis
14.3.1. By Sales Channel
14.3.2. By Vehicle Type
14.3.3. By Width Type
14.4. Key Takeaways
15. Market Structure Analysis
15.1. Competition Dashboard
15.2. Competition Benchmarking
15.3. Market Share Analysis of Top Players
15.3.1. By Regional
15.3.2. By Sales Channel
15.3.3. By Vehicle Type
15.3.4. By Width Type
16. Competition Analysis
16.1. Competition Deep Dive
16.1.1. The Yokohama Rubber Co., Ltd
16.1.1.1. Overview
16.1.1.2. Product Portfolio
16.1.1.3. Profitability by Market Segments
16.1.1.4. Sales Footprint
16.1.1.5. Strategy Overview
16.1.1.5.1. Marketing Strategy
16.1.1.5.2. Product Strategy
16.1.1.5.3. Channel Strategy
16.1.2. Toyo Tire Corporation
16.1.2.1. Overview
16.1.2.2. Product Portfolio
16.1.2.3. Profitability by Market Segments
16.1.2.4. Sales Footprint
16.1.2.5. Strategy Overview
16.1.2.5.1. Marketing Strategy
16.1.2.5.2. Product Strategy
16.1.2.5.3. Channel Strategy
16.1.3. Kumho Tire
16.1.3.1. Overview
16.1.3.2. Product Portfolio
16.1.3.3. Profitability by Market Segments
16.1.3.4. Sales Footprint
16.1.3.5. Strategy Overview
16.1.3.5.1. Marketing Strategy
16.1.3.5.2. Product Strategy
16.1.3.5.3. Channel Strategy
16.1.4. Bridgestone Corporation
16.1.4.1. Overview
16.1.4.2. Product Portfolio
16.1.4.3. Profitability by Market Segments
16.1.4.4. Sales Footprint
16.1.4.5. Strategy Overview
16.1.4.5.1. Marketing Strategy
16.1.4.5.2. Product Strategy
16.1.4.5.3. Channel Strategy
16.1.5. The Goodyear Tire & Rubber Company
16.1.5.1. Overview
16.1.5.2. Product Portfolio
16.1.5.3. Profitability by Market Segments
16.1.5.4. Sales Footprint
16.1.5.5. Strategy Overview
16.1.5.5.1. Marketing Strategy
16.1.5.5.2. Product Strategy
16.1.5.5.3. Channel Strategy
16.1.6. Sumitomo Rubber Industries Ltd.
16.1.6.1. Overview
16.1.6.2. Product Portfolio
16.1.6.3. Profitability by Market Segments
16.1.6.4. Sales Footprint
16.1.6.5. Strategy Overview
16.1.6.5.1. Marketing Strategy
16.1.6.5.2. Product Strategy
16.1.6.5.3. Channel Strategy
16.1.7. Pirelli & C S.p.A
16.1.7.1. Overview
16.1.7.2. Product Portfolio
16.1.7.3. Profitability by Market Segments
16.1.7.4. Sales Footprint
16.1.7.5. Strategy Overview
16.1.7.5.1. Marketing Strategy
16.1.7.5.2. Product Strategy
16.1.7.5.3. Channel Strategy
16.1.8. Hankook Tire
16.1.8.1. Overview
16.1.8.2. Product Portfolio
16.1.8.3. Profitability by Market Segments
16.1.8.4. Sales Footprint
16.1.8.5. Strategy Overview
16.1.8.5.1. Marketing Strategy
16.1.8.5.2. Product Strategy
16.1.8.5.3. Channel Strategy
16.1.9. MICHELIN
16.1.9.1. Overview
16.1.9.2. Product Portfolio
16.1.9.3. Profitability by Market Segments
16.1.9.4. Sales Footprint
16.1.9.5. Strategy Overview
16.1.9.5.1. Marketing Strategy
16.1.9.5.2. Product Strategy
16.1.9.5.3. Channel Strategy
16.1.10. Continental AG
16.1.10.1. Overview
16.1.10.2. Product Portfolio
16.1.10.3. Profitability by Market Segments
16.1.10.4. Sales Footprint
16.1.10.5. Strategy Overview
16.1.10.5.1. Marketing Strategy
16.1.10.5.2. Product Strategy
16.1.10.5.3. Channel Strategy
17. Assumptions & Acronyms Used18. Research Methodology
