Press Release

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"

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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