Indonesia Tyre Market (2019-2025)
According to 6Wresearch, Indonesia tyre market revenues are projected to grow at a CAGR of 9.8% during 2019-25. Rising investment in automotive manufacturing by domestic as well as international companies owing to low per capita-car ownership, low labor costs and rapidly increasing middle class income population would drive the Indonesia tyre market during the forecast period. Additionally, growing popularity of low-cost green car (LCGC) and low sport utility vehicle (LSUV) across the country would further provide an impetus to the Indonesia tyre market. Further, due to increasing urban population, government is spending significant amount on infrastructure development and other investment to support growth of the smaller cities that would integrate the new urban citizens. This would lead to an expansion of automotive fleet and in turn would also ramp up the tyre market during the...