London, 09 October 2014 – TechNavio, a global tech-focused research firm has announced the publication of its market research report on the Tire Market in Japan 2014-2018.
The Tire Market in Japan caters to various segments such as two-wheelers, passenger cars, trucks and buses and tractors. This market is expected to grow at a CAGR of 9.45 percent during the forecast period.
About the Report
The latest report by TechNavio focuses on the steady need for replacement of old and damaged tires. On average, a tire has a service life of 40,000 miles and this leads to an ongoing need for the replacement of worn out tires. The report also highlights the significant rise in demand for automobiles because of the steady economic growth in BRIC countries.
“With higher disposable incomes, customers are increasingly focused on safe driving and better drive quality. The intense vendor competition and saturated markets has also led most vehicle manufacturers shifting their focus to these countries so as to explore new growth avenues and increase their market shares,” says Faisal Ghaus, Vice President of TechNavio.
Key Information Covered in the Report:
Market segmentation, size and forecast through 2018
Market Growth Drivers:
- Steady Need for Replacement of Old and Damaged Tires
- For a full detailed list, view our report.
Market Challenges:
- Cost of Raw Materials
- For a full detailed list, view our report.
Market Trends:
- Rise in Demand from Developing Nations
- For a full detailed list, view our report.
Key Vendors:
- Bridgestone Corp.
- Nihon Michelin Tire Co. Ltd.
- Toyo Tire & Rubber Co. Ltd.
Other Prominent Vendors:
- Kyoto Tool
- Ohtsu Tire and Rubber
- Panaracer
- Yokohama Rubber
https://www.technavio.com/%3Cp%3E%3Ca%20href%3D%22http%3A//www.technavio….
