Indonesia Tire Market to Grow at 5.95% CAGR Through 2025
Abundant availability of raw
materials and growing domestic automobile industry are some major factors
expected to drive Indonesia tire market growth in next five years.
According to TechSci Research report, “Indonesia
Tire Market By Vehicle Type (Passenger Car, LCV, M&HCV, OTR, Two-Wheeler
and Three -Wheeler), By Demand Category (OEM Vs. Replacement), By Radial Vs
Bias, By Rim Size, By Region, Forecast & Opportunities, 2025”, Indonesia
tire market is projected to undergo a CAGR of around 5.95% in terms of value by
2025. Expanding vehicle fleet size and increasing sales of two-wheelers and
passenger cars are the major demand generators of tires in Indonesia. In
addition, expanding collaboration of leading OEMs is anticipated to augment
tire sales in the country over the next five years. Apart from this, rising
disposable income and growing domestic automobile sector are expected to
further aid the growth of Indonesia tire market during the forecast period.
The country has also witnessed a growth in export and with introduction
of import quota regulation by the government and favourable FDI guidelines
which are anticipated to propel the tire market growth in the country.
Indonesia tire market is gaining demand from both domestic as well as
international market. The good macroeconomic conditions is encouraging new
companies to establish their manufacturing unit in Indonesia.
Browse 91 market
data Figures and Tables spread through 159 Pages and an in-depth TOC
on "Indonesia
Tire Market"
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Indonesia tire market is categorized based on vehicle
type, demand category, radial vs bias, rim size and region. Based on vehicle
type, the market can be categorized into passenger car, LCV (Light Commercial
Vehicle), M&HCV (Medium & Heavy Commercial Vehicle), OTR (Off-The-Road
Vehicles), two-wheeler and three -wheeler. Among them, the two-wheeler segment
underwent highest growth until 2019 with a market share of around 67.45%. The
segment is further expected to continue its dominance through 2025 with a
market share of around 66.65%. The dominance of two-wheelers is backed by
prevailing road infrastructure in Indonesia, thereby leading to more demand for
two-wheelers and consequently their tires. Based on demand category, Indonesia tire
market can be categorized into OEM and replacement. Among the two, replacement
segment held dominant position in 2019 with a market share of around 74.41%. The
segment is anticipated to undergo high growth during he forecast period as well
and is likely to hold 74.58% market share.
Leading companies operating in Indonesia tire market are PT
Gajah Tunggal TBK, PT Suryaraya Rubberindo Industries, PT Sumi Rubber
Indonesia, PT Bridgestone Tire Indonesia, PT Michelin Indonesia, PT Goodyear
Indonesia TBK, PT YHI Indonesia, PT Multistrada Arah Sarana, PT Hankook Tire
Indonesia and PT Elangperdana Tyre Industry. Gajah Tunggal is considered as a
leader in Indonesia tire market. The company produced over 43 million tires in
2018 according to its annual balance sheet. Following Gajah, the second largest
producer of tires in the country is Bridgestone which has two production sites
near Jakarta, in Bekasi and Karawang.
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“Large demand for tires in Indonesia emanates from Java
region, followed by Sumatra region. Being the centres of economic and
commercial activities in the country, these regions cumulatively account for majority
of Indonesia’s automobile fleet, and consequently, are the largest tyre markets
in the country. Both, Java and Sumatra are expected to maintain their dominance
in the country’s tyre market during the forecast period,” said Mr. Karan
Chechi, Research Director with TechSci Research, a research based global
management consulting firm.
“Indonesia
Tire Market, By Vehicle Type (Passenger Car, LCV, M&HCV, OTR, Two-Wheeler
and Three -Wheeler), By Demand Category (OEM Vs. Replacement), By Radial Vs
Bias, By Rim Size, By Region, Forecast & Opportunities, 2025” has analyzed the potential
of tire market across Indonesia, and provides statistics and information on
market sizes, shares and trends. The report will suffice in providing the intending
clients with cutting-edge market intelligence and help them in taking sound
investment decisions. Besides, the report also identifies and analyzes emerging
trends along with essential drivers and key challenges faced by Indonesia tire
market.
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