As on date of publishing, this report will capture the impact assessment of COVID-19 on this market and the same will be considered in our market forecast model. Clients purchasing this report between April and June 2020 will be getting a ‘free’ updated market data excel sheet between July and September 2020 accounting for the impact of COVID-19 on the market in the current year 2020 and forecast.
Indonesia tire market was valued USD 3.35 Billion in value terms in 2019. The market is further projected to grow at a CAGR of over 5.95% during the forecast period on the back of growing vehicle sales and developing infrastructure across the country. 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.
The abundant availability of raw materials such as rubber is encouraging new market players to establish their manufacturing units in the country. Additionally, expanding collaboration of leading OEMs and growing domestic automobile sector are also augmenting the Indonesia tire market growth.
Indonesia tire market is segmented 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 category dominates the tire market and is further expected to hold a market share of around 66.65% 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.
Based on radial vs bias, Indonesia tire market is dominated by bias segment. It accounted for around 66.47% market share in 2019 and is further expected to cover a market share of around 64.25% during the forecast period. However, radial tyres are also gaining demand in Indonesia owing to their better puncture resistance, and lower life-cycle cost.
Major 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 holds a leading position in Indonesia tire market. According to the company’s annual balance sheet, it produced over 43 million tires in 2018. Following Gajah, Bridgestone is the second largest producer of tires in Indonesia and has two production sites near Jakarta, in Bekasi and Karawang.
Years considered for this report:
Historical Years: 2015-2018
Base Year: 2019
Estimated Year: 2020
Forecast Period: 2021–2025
Objective of the Study:
- To analyze and forecast the market size of Indonesia tire market.
- To classify and forecast Indonesia tire market based on vehicle type, demand category, radial vs bias, rim size, company and Region.
- To identify drivers and challenges for Indonesia tire market.
- To examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc., in Indonesia tire market.
- To identify and analyze the profile of leading players involved in the manufacturing tires in Indonesia.