DUBLIN--(BUSINESS WIRE)--The "Indonesia Commercial Vehicle Tire Market, By Vehicle Type (Truck, Bus/Van, OTR), By Demand Category (OEM, Replacement), By Tire Construction Type (Radial, Bias), By Price Segment (Budget, Ultra Budget, Premium), By Region and By company Forecast & Opportunities, 2026" report has been added to ResearchAndMarkets.com's offering.

The Indonesia Commercial Vehicle Tire Market was valued at USD3.75 billion in 2020 and is anticipated to grow with CAGR of 3.86% in the forecast years, 2022-2026 to reach USD4.96 billion by 2026.

Factors like increasing demand for commercial vehicles and rapidly increasing number of public transportations, logistics services, mining and agricultural activities are driving the growth of the Indonesian commercial vehicle tire market. Moreover, rapidly increasing production of commercial vehicles to satiate the consumer demands and increasing production of replacement and OEM tires further supports the growth of the Indonesian commercial vehicle tire market in the next five years.

The country's transportation is heavily dependent on commuting through public buses, and private buses that are commercialized based on added advantages. Rising investment in the automobile industry in Indonesia from government to promote public transportation, private funding, and foreign direct investments also drive market growth in the forecast years, until 2026. Although the recent pandemic affected the manufacturing and imports of automotive parts and vehicles and affected the growth of the market in the country, favorable schemes and promotions from the government and reopening of the global market after the pandemic is expected to support future growth.

The Indonesia Commercial Vehicle Tire Market is segmented by vehicle type, demand category, tire construction type, price segment, regional distribution, and competitive analysis. Based on vehicle type, the market is further bifurcated into truck, bus/van, and OTR. Trucks are anticipated to hold the largest revenue shares of the market and dominate the market segment in the upcoming five years on the account of increasing demand for logistic services in the country.

The agricultural industry is also expanding and advancing in the country since the last few years. Increasing demand for the supply of genetically modified seeds, advanced fertilizers, and other Agri-commodities to farmers in remote regions and providing transportation trucks to bring crops & products from farmers to the local & regional markets is further substantiating the growth of the Indonesia Commercial Vehicle Tire Market in the forecast years.

Years considered for this report:

• Historical Years: 2016-2019
• Base Year: 2020
• Estimated Year: 2021
• Forecast Period: 2022-2026

Objective of the Study:

• To analyze the historical growth in the market size of the Indonesia Commercial Vehicle Tire Market from 2016 to 2020.
• To estimate and forecast the market size of the Indonesia Commercial Vehicle Tire Market from 2021 to 2026 and growth rate until 2026.
• To classify and forecast the Indonesia Commercial Vehicle Tire Market based on vehicle type, demand category, tire construction type, price segment, regional distribution, and competitive analysis.
• To identify dominant region or segment in the Indonesia Commercial Vehicle Tire Market.
• To identify drivers and challenges for the Indonesia Commercial Vehicle Tire Market.
• To examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc., in the Indonesia Commercial Vehicle Tire Market.
• To identify and analyze the profile of leading players operating in the Indonesia Commercial Vehicle Tire Market.
• To identify key sustainable strategies adopted by the market players in the Indonesia Commercial Vehicle Tire Market.

The Indonesia Commercial Vehicle Tire Market report has been segmented into the following categories:

Indonesia Commercial Vehicle Tire Market, By Vehicle Type

• Truck
• Bus/Van
• OTR

Indonesia Commercial Vehicle Tire Market, By Demand Category

• Replacement
• OEM

Indonesia Commercial Vehicle Tire Market, By Tire Construction Type

• Bias
• Radial

Indonesia Commercial Vehicle Tire Market, By Price Segment

• Ultra Budget
• Budget
• Premium

Indonesia Commercial Vehicle Tire Market, By Region

• Java
• Sumatra
• Kalimantan
• Bali

Companies Mentioned

• PT Sumi Rubber Indonesia
• PT Hankook Tire Indonesia
• PT Elangperdana Tyre Industry
• PT Industri Karet Deli
• PT Gajah Tunggal Tbk
• PT Bridgestone Tire Indonesia
• PT Multistrada Arah Sarana Tbk.
• The Yokohama Rubber Co., Ltd.
• PT Goodyear Indonesia
• PT Continental Tyres Indonesia

For more information about this report visit https://www.researchandmarkets.com/r/pgz6lw

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