Why Indonesia is a must-do market for tyre & rubber business now?
During the first half of the decade, the Indonesian tire market experienced strong growth in both production and installed capacity, while the latter half saw more subdued activity. According to TechSci Research report, the commercial vehicle tire market in Indonesia was valued at USD 4.20 billion in 2024 and is projected to grow to USD 5.27 billion by 2030, reflecting a compound annual growth rate (CAGR) of 3.86%.
In 2024, the global tire market was valued at USD 329,521.50 million and is expected to rise to USD 462,900.23 million by 2032, registering a compound annual growth rate (CAGR) of 4.34% during the forecast period.
Rapid urbanization and increasing vehicle ownership in both urban and semi-urban regions are driving nationwide growth in tire demand. The Indonesian tire market is experiencing strong growth, driven by rising vehicle ownership, particularly of motorcycles.