Dublin, March 29, 2021 (GLOBE NEWSWIRE) -- The "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, 2026" report has been added to ResearchAndMarkets.com's offering.
The Indonesian Tire Market was valued USD2.84 billion in value terms in 2019.
The market is further projected to grow at a CAGR of 10.04% during the forecast period on the back of increasing sales of two wheeler and passenger car as traffic congestion is one of the major problems of Indonesia and the population prefers two wheeler over its counter parts.
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. The Indonesian Tire Market is gaining demand from both domestic as well as international market. The good macroeconomic conditions are encouraging new companies to establish their manufacturing unit in Indonesia.
The Indonesian Tire Market can be segmented based on vehicle type, demand category and radial vs bias. Bias accounted for the dominant share in 2020 with share of over 70%. As radial tires are progressively being installed in vehicles since they offer flexible sidewalls, better puncture resistance at lower life-cycle cost.
Among vehicle type, the two-wheeler category dominates the tire market and is further expected to hold a market share of around 66.692% through 2025. The reason for the dominant share of the segment include prevailing road infrastructure in Indonesia, thereby leading to more demand for two-wheelers and consequently their tires.
Objective of the Study:
To analyze and forecast the market size of the Indonesian Tire Market.
To classify and forecast the Indonesian Tire Market based on vehicle type, demand category, radial vs bias, rim size, company and Region.
To identify drivers and challenges for the Indonesian Tire Market.
To examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc., in the Indonesian Tire Market.
To identify and analyze the profile of leading players involved in the manufacturing tires in Indonesia.
Key Target Audience:
Tire manufacturers, suppliers, distributors and other stakeholders
Vehicle manufacturing companies
Raw material suppliers
Associations, organizations, forums and alliances related to tires
Government bodies such as regulatory authorities and policy makers
Market research and consulting firms
Years considered for this report:
Historical Years: 2017-2018
Base Year: 2019
Estimated Year: 2020
Forecast Period: 2021-2025
In this report, the Indonesian Tire Market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
Indonesia Tire Market, By Vehicle Type:
Buses & Truck
Indonesia Tire Market, By Demand Category:
Indonesia Tire Market, By Radial vs Bias
Indonesia Tire Market, By Rim Sizes
Company Profiles: Detailed analysis of the major companies present in the Indonesian Tire Market.
PT Gajah Tunggal Tbk
PT Bridgestone Tire Indonesia
PT Multistrada Arah Sarana, Tbk. (Michelin)
Inoue Rubber Co., Ltd.
Pt. Suryaraya RubberIndo Industries (FDR)
Timsun Rubber Tire (Weihai) Co., Ltd.
PT Goodyear Indonesia Tbk
PT.SUMI RUBBER INDONESIA
Hankook Tire Indonesia PT
PT Tiga Berlian Mandiri (Tiberman)
For more information about this report visit https://www.researchandmarkets.com/r/qlpm4y
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