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, Two-Wheeler, Buses & Trucks and Off-The-Road-Mining Vehicles), By Demand Category (OEM Vs. Replacement), By Radial Vs Bias, By Rim Size, Competition, Forecast & Opportunities, 2025”, Indonesia tire market is projected to undergo a CAGR of around 10.04% in terms of value by 2025 to reach USD100.56 billion by 2025. Growing vehicle sales and developing infrastructure are the primary factors for the growth of the market. Moreover, rising disposable income and expanding automobile fleet are also aiding to the growth of Indonesia tire market. Apart from this, increasing export, introduction of import quota regulation by the government and favourable FDI guidelines are some other key factors propelling the tire market growth in the country.
Browse 27 market data Figures and Tables spread through 44 Pages and an in-depth TOC on "Indonesia Tire Market"
https://www.techsciresearch.com/report/indonesia-tire-market/2325.html
Indonesia tire market is categorized based on vehicle type, demand category, radial vs bias, and rim size. Based on vehicle type, the market can be categorized into passenger car, buses and truck, two-wheeler and OTR mining. Among them, the two-wheeler segment underwent highest growth until 2019 with a market share of around 67%. The segment is further expected to continue its dominance through 2025 with a market share of around 66%. 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%. The segment is anticipated to undergo high growth during he forecast period as well and is likely to hold 74.58% market share.
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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, Two-Wheeler, Buses & Trucks and Off-The-Road-Mining Vehicles), By Demand Category (OEM Vs. Replacement), By Radial Vs Bias, By Rim Size, Competition, 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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