Indonesia Two-Wheeler Tire Market A Dive from 6.55% CAGR in 2024-30| MarkNtel Advisors
MarkNtel Advisors has recently released an all-encompassing report on Indonesia Two-Wheeler Tire market. The report thoroughly explores the present and future market scenarios, providing valuable insights into market size, share, and competitor segmentation. It also delivers an overview of manufacturers, regions, product categories, and application areas. This extensive research is designed to empower clients with the knowledge required to comprehend and capitalize on market trends for their business strategies.
Forecast 2024-30: Revealing Indonesia Two-Wheeler Tire Market Insights and Analysis
The Indonesia Two-Wheeler Tire Market size was valued at around USD 43.94 billion in 2023 and is estimated to grow at a CAGR of about 6.55% during the forecast period, i.e., 2024-30.
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Driving Innovation: Exploring the Indonesia Two-Wheeler Tire Market and its Growth Challenge
Indonesia Two-Wheeler Tire Market Challenge:
Increasing Usage of Retreaded Tires & Currency Depreciation to Hinder Market Growth – Individuals in Indonesia are price sensitive, and to save money, the consumers tend to purchase retreaded tires rather than new tires, hampering the Indonesia Two-Wheeler Tire Market. Retreading involves adding new tread to the existing tire casing, which extends the tire's average lifecycle. Thus, reducing the need for consumers to purchase new tires frequently and restricting the sales of the new tires.
Moreover, the economy of Indonesia has been facing challenges due to persistent trade deficits, higher inflation, and relatively lower interest rates. As a result, the currency of the country has been depreciating. This depreciation in the Indonesian Rupiah against the US Dollar is also negatively affecting the market since it increases the input costs for the tire manufacturers.
Furthermore, tire manufacturing companies such as PT Gajah Tunggal Tbk and others rely on raw materials sourced from other countries. Hence, currency depreciation is leading to higher import & production costs. To mitigate the negative impacts, these companies are increasing the prices of the tires, due to which the consumers are looking for pocket-friendly or alternate solutions like retreaded tires, adversely impacting the Indonesia Two-Wheeler Tire Market.
Indonesia Two-Wheeler Tire Market: Key Players
PT Maxxis International Indonesia
-Business Description
-Product Portfolio
-Strategic Alliances or Partnerships
-Recent Developments
-Financial Details
-Others
FDR Tire
-Business Description
-Product Portfolio
-Strategic Alliances or Partnerships
-Recent Developments
-Financial Details
-Others
PT Sumi Rubber Indonesia
-Business Description
-Product Portfolio
-Strategic Alliances or Partnerships
-Recent Developments
-Financial Details
-Others
IRC Tire Indonesia
-Business Description
-Product Portfolio
-Strategic Alliances or Partnerships
-Recent Developments
-Financial Details
-Others
Get More Information On the Indonesia Two-Wheeler Tire Market Report: https://www.marknteladvisors.com/research-library/indonesia-two-wheeler-tire-market.html
Indonesia Two-Wheeler Tire Market Segmentation Outline:
By Tire Size
-Tire Size 1- Market Size & Forecast 2019-2030F, Unit Sold (Thousand)
-Tire Size 2- Market Size & Forecast 2019-2030F, Unit Sold (Thousand)
-Tire Size 3- Market Size & Forecast 2019-2030F, Unit Sold (Thousand)
-Tire Size 4- Market Size & Forecast 2019-2030F, Unit Sold (Thousand)
-Tire Size 5- Market Size & Forecast 2019-2030F, Unit Sold (Thousand)
By Tire Type
-Radial- Market Size & Forecast 2019-2030F, Unit Sold (Thousand)
-Bias- Market Size & Forecast 2019-2030F, Unit Sold (Thousand)
By Sales Channel
-Online- Market Size & Forecast 2019-2030F, Unit Sold (Thousand)
-Direct Sales- Market Size & Forecast 2019-2030F, Unit Sold (Thousand)
-Multi Brand Stores- Market Size & Forecast 2019-2030F, Unit Sold (Thousand)
-Exclusive Outlets- Market Size & Forecast 2019-2030F, Unit Sold (Thousand)
By Demand Type
-OEM- Market Size & Forecast 2019-2030F, Unit Sold (Thousand)
-Replacement- Market Size & Forecast 2019-2030F, Unit Sold (Thousand)
By Region
-Java
-Sumatra
-Kalimantan (Borneo)
-Bali
-Rest of Indonesia
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