Astute Analytica, a global analytics and advisory company, has said in its latest report that the Japan tyre market is projected to hit market valuation of USD 33.59 billion by 2032, up from USD 14.78 billion in 2023, at a CAGR of 9.74 percent by the year 2032.

The report delves deep into the macros of Japan tyre market and highlights various factors influencing the current condition and shaping the future scenario, including the top drivers of the market, the top trends emerging out of it and also the top challenges faced by the Japan tyre market.

As per the report, increasing vehicle ownership rates and urban car dependency are the major factors influencing the demand for more tyres. This is followed by government regulations promoting road safety and mandatory tyre checks and advancements in tyre technology. All of these factors are driving consistent tyre market demand growth. The report further explains the role of growing focus on sustainability in providing significant opportunities for tyre manufacturers to align their products with environmental goals, which is evident from the fact that a total 25 million eco-friendly tyres were sold in 2023. Citing that over 500,000 smart tyres were sold in 2023, the report highlights the role of digitalisation and smart technologies, as well as integration of IoT, in the automotive sector.

The top trends, according to the report, are rising adoption of environmentally-friendly tyres, growing popularity of smart and connected tyres with embedded sensors for real-time performance monitoring and a shift towards online tyre retailing platforms. Among the top challenges faced by the Japan tyre market, according to the report, are the fluctuating raw material costs, intense competition among domestic and international tyre manufacturers and the ageing population affecting vehicle ownership trends and reducing overall tyre demand growth potential.

The report further highlights the expanding role of recycled tyres in Japan's automotive industry – at a CAGR of 10.82 percent – and how they are shaping the tyre market. Japan has a robust infrastructure of over 1,000 tyre recycling facilities nationwide and repurposes approximately 80 million tyres each year, which is further boosting the recycled tyre market, the report says. The report further explains that over 50 million recycled tyres with extended lifespans were produced due to the innovations in devulcanisation and pyrolysis, adding that more than 500 patents were filed for tyre recycling innovations as of 2023. This is not only helping economically but also contributing to Japan's goal of reducing carbon emissions, thereby positioning Japan as a leader in environmental responsibility within the automotive sector.

Among its key findings, the report notes that passenger vehicles are at the forefront of Japan's tyre market and the sector is poised to take up over 63 percent market share. Annual sales of passenger vehicles have surpassed 5 million units, according to the report, resulting in more than 60 million passenger tyres sold annually. Other factors noted by the report are the proliferation of hybrid and electric vehicles in Japan, which number over 2 million, and the rise of ride-sharing services, which account for more than 1 million vehicles.

The report also highlights the rising prominence of the 15–20-inch tyre segment in Japan's tyre market because of the popularity of SUVs and larger passenger vehicles that use these tyres. More than 20 million units are sold annually for this specific size category, says the report and adds that the motorsports industry has also influenced consumer trends. Another factor influencing the popularity of 15–20-inch tyres is the governmental infrastructure projects that have expanded and improved the road network in Japan and made the roads suitable for vehicles equipped with larger tyres.

Another important point highlighted in the report is that the highly consolidated Japanese tyre market is captured by the top six established players, namely Bridgestone Corporation, Sumitomo Rubber Industries, Yokohama Tyre, Toyo Tyre, Michelin and The Goodyear Tyre & Rubber Company, who command over 72.9 percent of the market share as of 2023. Elucidating further on this topic, the report says that Bridgestone Corporation alone controls over 29 percent of the Japanese tyre market due to its longstanding presence and reputation for high-quality products. Factors such as high capital investment requirements for manufacturing facilities, extensive research and development for advanced tyre technologies and strict regulatory standards are cited by the report as major challenges for new entrants to penetrate this highly consolidated market. Apart from this, brand reliability and quality also favour domestic companies with proven track records, the report adds.

Wabash, a leading supplier of connected solutions for the transportation, logistics and distribution industries, has renewed its strategic agreement with the Goodyear Tire & Rubber Company, one of the world’s largest tyre companies.

The agreement is expected to further strengthens Goodyear’s position as the preferred tyre supplier for Wabash's van, tank and platform trailers, and will also provide Wabash customers with full-service tyre management support.

Richard Mansilla, Vice-President, global supply chain at Wabash, said, “We are excited to continue our long-standing relationship with Goodyear. This agreement strengthens our supply chain with a premium brand, enhances customer support and contributes to the continued growth of the Wabash ecosystem. We look forward to building on our shared commitment to industry innovation and exceptional service.”

For over 15 years, Goodyear has been the equipping Wabash with tyres for its trailer product lines.

Joe Burke, Vice-President of Goodyear’s North America Commercial business, said, “Goodyear's collaboration with Wabash underscores our combined focus to deliver high-quality, innovative products and seamless, end-to-end services to van, tank and platform trailer customers. We are excited to continue advancing solutions that enhance the Wabash customer experience and help ensure they carry their cargo with confidence.”

Continental, one of the leading tyre and automotive technology suppliers, has launched its new fuel-efficient, long haul drive tyre – Conti HDL 3 EP - for the United States Market.

The company stated that the new tyre combines high-structure carbon black and silica technology to deliver a well-balanced mix of rolling resistance and durability. It features a polymer matrix-bound silica compound, which enables up to 10 percent better rolling resistance compared to its predecessor and is SmartWay verified for Class 8 long haul tractor trailers.

Shaun Uys, Head of Continental’s Truck Tyre Replacement Business in the US, said, “The Conti HDL 3 EP was purposefully designed with a fleet’s needs in mind – from being built on 3G Casing for maximum retreadability, to its improved rolling resistance and even wear. This premium long-haul tire was designed to help fleets achieve their lowest overall driving cost.”

The Conti HDL 3 EP comes with groove geometry reduces stone retention, and the tyre offers up to 15 percent improved cut and chip resistance, further extending its lifespan.

It is built on Continental 3G Casing that has a 240-245 mm retread width, and features a state-of-the-art belt package that reduces heat, increases durability, and maximises retreadability. It can also be paired with Continental’s ContiConnect Live digital tyre monitoring system.

The tyre will be available for the replacement market in size 295/75R22.5 in load range G, and additional sizes to be introduced by Q1 2025. 

Bridgestone Corporation (Bridgestone), one of the leading trye manufacturers, is all set to supply the Battlax Hypersport S23 tyres as original equipment for the Kawasaki Ninja 1100SX.

The Battlax Hypersport S23 tyres feature a new pattern design, which the company said balances optimal changes in contact patch stiffness with exceptional water drainage properties for riding on wet surfaces. The tyres provide both enhanced grip and handling stability during straight-line riding and at large lean angles.

The Kawasaki Ninja 1100SX offers riding performance and aggressive styling. It is equipped with the KQS (Kawasaki Quick Shifter), a USB Type-C power socket, and a smartphone connectivity function.

The partners have co-developed the tyres through a long-term co-creation development.

Using racing as a ‘mobile laboratory,’ Bridgestone aims to refine technology in extreme conditions, evolving and connecting the innovation to the development of replacement tyres for the future under the concept ‘From Circuit to Street.’

The tyre maker is banking on motorsports activities to continuously evolve its ‘Dan-Totsu’ products and strengthen its global premium niche strategy in the premium motorcycle tyre business.

Hankook Tire has launched the fourth generation Ventus evo, a sporty ultra-high-performance summer tyre for changeable conditions.

Featuring a new mixture developed using artificial intelligence (AI), the tyre provides excellent wet grip and low rolling resistance. The wide drainage grooves work in tandem with the optimised tyre contact area to facilitate good evacuation of water and reduce the risk of aquaplaning, while the extra-rigid sidewalls and tread blocks provide stability during cornering and shorten the dry braking distance by six percent compared to the third-generation tyre. The innovative mixture, on the other hand, ensures low rolling resistance despite the high grip. This reduces fuel consumption and provides a 32 percent increase in mileage compared to the third-generation tyre.

Klaus Krause, Vice President and Head of Europe Technical Centre, Hankook, said, “With the fourth generation of the Ventus evo, we are setting new standards. We decided early on to leverage AI in the development of tyre mixtures and were able to successfully transform the laboratory results into high-quality industrial processes. Today, we’re seeing the benefits of that effort. With its innovative mixture ratio, the Ventus evo overcomes traditional trade-offs, delivering uncompromising excellence in performance, safety and mileage.”

The new Ventus evo and Ventus evo SUV will be available in stores in 58 sizes by this summer, with plans to expand the offering to 94 sizes – from 17 to 23 inches in widths from 205 to 325 in the 65 to 30 series and with speed indexes from V to (Y) – by the end of next year.