Low Rolling Resistance Tire Industry Analysis in Japan

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 USD 9,485.10 million in 2023. By 2033, sales projections for low rolling resistance tire in Japan indicate attaining a valuation of USD 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	USD 9,485.10 million
Expected Industry Size of Japan by 2033	USD 26,690.54 million
Forecasted CAGR between 2023 to 2033	10.90%

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.

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.

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	USD 9,485.10 million
Projected Industry Size by 2033	USD 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 USD 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.