NEW YORK, Nov. 24, 2016 /PRNewswire/ -- Indonesia is one of the major economies of the ASEAN region. Backed by government initiatives and rapid infrastructure developments, tire market in Indonesia is anticipated to grow at a robust pace over the next five years. Further, on account of favorable trading environment and easy availability of raw materials, an increasing number of automobile OEMs are establishing their manufacturing / assembling plants in the country, which is positively influencing the country's tire market. Few of the major global tire brands operating in Indonesia include Toyota, Suzuki, Volkswagen, Mitsubishi, Honda, Nissan, Volvo, BMW, General Motors, Audi, Renault, Mazda and Isuzu. In 2014, the Government of Indonesia revised the luxury tax on "Low Cost Green Car (LCGC)" and "Low Emission Carbon (LEC) Vehicles" to promote environment friendly vehicles in the country. Under this program, automobile manufacturers are encouraged to invest in the country to produce more efficient, safer and technologically advanced vehicles. These initiatives are expected to positively influence the country's tire market over the next five years.
According to "Indonesia Tire Market Forecast & Opportunities, 2021", tire market in Indonesia is projected to grow at a CAGR of over 13% during forecast period on account of expanding passenger car fleet, continuing infrastructure growth and large scale construction activities being undertaken in the country. In 2015, tire market in Indonesia was dominated by the replacement tire segment, which grabbed around two-thirds of the market share. Moreover, two-wheeler tire segment grabbed a major share in Indonesia tire market in 2015, and the trend is expected to continue over the next five years as well. "Indonesia Tire Market Forecast & Opportunities, 2021" report elaborates following aspects of tire market:
- Indonesia Tire Market Size, Share & Forecast
- Segmental Analysis – Two-Wheeler Tires, Passenger Car Tires, Light Truck Tires, OTR Tires, Heavy Truck Tires, Medium Truck Tires & Buses
- Policy & Regulatory Landscape
- Changing Market Trends and Emerging Opportunities
- Competitive Landscape and Strategic Recommendations
Why You Should Buy This Report?
- To gain an in-depth understanding of tire market in Indonesia
- To identify the on-going trends and segment wise anticipated growth in the coming years
- To help industry consultants, tire companies and other stakeholders align their market-centric strategies
- To obtain research based business decision and add weight to presentations and marketing material
- To gain competitive knowledge of leading players
- To avail 10% customization in the report without any extra charges and get the research data or trends added in the report as per the buyer's specific needs
The information contained in this report is based on both primary and secondary sources. Primary research included interviews with tire manufacturers, distributors and industry experts. Secondary research included an exhaustive search of relevant publications like company annual reports, financial reports and proprietary databases.
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