An overview of growth trends in the Southeast Asian tire market and the characteristics of the Japanese market. Demand for high-value-added passenger-car tires remains strong in Japan, where domestic brands hold a strong position in both the OEM and replacement markets.
The Southeast Asian market is supported by diverse customer segments and applications, with demand expanding as motorization advances alongside economic growth. Recent trends include the growing adoption of fuel-efficient and eco tires, and the market is expected to continue growing steadily, with a projected CAGR of approximately 5.70%.
The Japanese market has a different demand structure from Southeast Asia, with passenger-car tires predominant and high-value-added performance highly sought after. While low-priced brands are expanding in Southeast Asia, trust in domestic manufacturers remains strong in Japan, where they hold a significant position in both the OEM and replacement markets.
The major companies involved in the market include several domestic brands, such as BRIDGESTONE CORPORATION, Sumitomo Rubber and Yokohama Rubber, with competition taking place on a global scale. Global companies including Michelin, Goodyear, Continental and Pirelli are also major players.
Passenger cars are the main focus of attention in the domestic market. Replacement demand for passenger cars, which account for approximately 70% of vehicles in operation, remains stably strong, and the supply of all-season tires is also progressing.