Name: Indonesia Commercial Vehicle Tire Market and Analysis Report – Opportunities and Forecast 2024-2031
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Indonesia Commercial Vehicle Tire Market and Analysis Report – Opportunities and Forecast 2024-2031

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Indonesia Commercial Vehicle Tire Market is projected to add an incremental revenue of USD 1.3 billion between 2023 to 2031. Indonesia Commercial Vehicle Tire Market is estimated to attain a robust market growth rate in the years ahead owing to the growing demand for commercial vehicles in public transport, logistics, mining, and agriculture sector.

Major Indonesia Commercial Vehicle Tire Market Drivers and Emerging Trends

Indonesia commercial vehicle tire market forecast observe rapid expansion in the coming years due to the rapid increase in commercial vehicle production to meet consumer demand of tires from OEM’s coupled with increasing demand for replacement tires. In addition, the nation’s transportation system relies heavily on public buses for commuting as well as commercially operated private buses that cater to specific advantages.

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Increasing government investment in Indonesia’s automobile industry to boost public transportation alongside private funding and foreign direct investments will further drive market growth through 2031. Future growth is expected with the help of government initiatives and promotions coupled with the gradual recovery of the global market.

The strong development of Indonesia’s automotive market can be attributed to its large population and steadily growing average income which have significantly bolstered the commercial vehicle industry and is reflected in the continuous increase in the fleet of commercial vehicles annually. Indonesia automotive industry is predominantly influenced by Japanese manufacturers such as Hino, ISUZU and Mitsubishi Fuso which dominate the commercial vehicle market. In addition, the need for buses is on the rise driven by the expansion of travel and tourism industry in Indonesia. Along with the growing demand for public transportation, this trend is expected to significantly foster greater requirement for commercial vehicles throughout the country.

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Large-scale infrastructure projects including highway construction and the expansion of transportation networks, have also boosted the demand for commercial vehicles and consequently the demand for tires. With the road and transportation systems expansion, there is an increasing need for reliable tires capable of enduring long distances and various road conditions. The infrastructure investments are mainly focused on developing the transportation systems which drives the need for a wide array of commercial vehicles including trucks and buses essential for optimizing logistical capabilities and facilitating construction initiatives.

The surge in urbanization has also driven up the demand for commercial vehicles to meet the transportation requirements of expanding urban populations and infrastructure developments. As urban areas expand and develop, there is a surging need for effective goods transportation, which in turn fuels the demand for durable and high-grade tires tailored for commercial vehicles that must navigate urban challenges. Furthermore, the rising prevalence of e-commerce platforms has amplified the demand for efficient last-mile delivery solutions thereby increasing the need for commercial vehicles specifically delivery vans and trucks.

The other factor supporting the expansion of Indonesia commercial vehicle tire market size is its position as the second leading rubber producer worldwide after Thailand. North and South Sumatra, Riau, West Kalimantan, and Jambi are the key regions in Indonesia where rubber plantations thrive which has attracted many global tire manufacturing firms to establish their manufacturing bases in the country, attracted by the competitive prices of natural rubber.

By vehicle type, the market is segmented into LCV, Medium Truck and Heavy Trucks, Buses & Coaches, and Agriculture Tires. Trucks are forecasted to lead the market segment in the years ahead driven by the growing demands in transportation and logistics services across the country.

Based on the construction type, bias tires will lead the market as they are preferred for large commercial vehicles, while radial is more optimal for passenger vehicles. Bias ply tires are favored for off-road vehicles like trucks due to their sidewalls that offer greater flexibility which enhances grip on challenging landscapes.

Leading global players in the country include Bridgestone and Goodyear while the domestic participants in the market are Gajah Tunggal, Sumi Rubber, and others.

Segments covered in the Report:

The Indonesia Commercial Vehicle Tire Market has been segmented on the basis of vehicle type, tire type and source. Based on the vehicle type, the market is segmented into LCV (Light Commercial Vehicles), medium & heavy trucks, buses & coaches, agriculture tires. Based on the tire type, the market is segmented into bias, radial. based on the source, the market is segmented into domestic supply, imports.

Top Market Players

Various notable players operating in the market include PT Gajah Tunggal, PT Sumi Rubber Indonesia, PT Bridgestone Tire Indonesia, PT Goodyear Indonesia, PT Hankook Tire Indonesia, PT Industri Karet Deli, PT Elangperdana Tyre Industry, PT Multistrada Arah Sarana Tbk., The Yokohama Rubber Co., Ltd., PT Continental Tyres Indonesia among others.

Report Coverage	Details
Market Revenues (2023)	USD Million
Market Base Year	2023
Market Forecast Period	2024-2031
Base Year & Forecast Units	Revenues (USD Million)
Market Segment	By Vehicle Type, By Tire Type, By Source
Regional Coverage	Indonesia
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Market Segmentation