Research and Markets has announced the addition of the “Two-wheeler Tyre Market in Indonesia 2014-2018” report to their offering.
The analysts forecast the Two-wheeler Tyre market in Indonesia to grow at a CAGR of 17.98 percent over the period 2013-2018. One of the key factors contributing to this market growth is the strong demand for two-wheelers. The Two-wheeler Tyre market in Indonesia has also been witnessing the growing demand for replacement tyres. However, the infrastructure-related issues could pose a challenge to the growth of this market.
Key vendors dominating this space include PT Gajah Tunggal Tbk, PT Industri Karet Deli, PT Sumi Rubber Indonesia, and PT Suryaraya Rubberindo Industries.
Other vendors mentioned in the report are PT Bategng Pratama, PT Elang Perdana Tyre Industry, PT Hung A Indonesia, PT Multistrada Arah Sarana Tbk, PT Surabaya Kencana Tyre Industry, and PT United King-land Company Ltd.
Commenting on the report, an analyst from the team said: One of the main trends witnessed in the Two-wheeler Tyre market in Indonesia is the growing demand for replacement tyres in the country. The country has been witnessing high adoption of two-wheelers over the last decade, which led to high demand for OEM tyres. However, as the penetration rate of two-wheelers in the country has reached over 90 percent, the demand for OEM tyres is getting stagnating. Moreover, the drastic surge in the number of two-wheelers in the market is expected to drive the demand for replacement tyres over the next few years.
Source: Business Wire
Published: 23 Jan 2014