Indonesia is a must-do market for welding business now!
Market Area With Growth Prospects :
- Indonesia is geographically well positioned to act as a regional base in Southeast Asia. A member of the G-20, Indonesia has a population of 240 million, representing the largest market in Southeast Asia and the fastest growing economy after China and India.
- The Indonesian government will invest IDR 4,021 trillion or approximately USD 400 million for the construction of roads, seaports, airports, railroads and power plants to support the development of Indonesia Economic Corridors under the Master Plan for the Acceleration and Expansion of Indonesia’s Economic Development (MP3EI).
- Steel consumption in ASEAN has been growing at a compound annual growth rate of 10.7% from 2009 to 2012 and is expected to grow healthily in the next few year.
- Automotive & transportation is estimated to be one of the fastest-growing segments of the welding consumables market in Indonesia from 2015 to 2023. Oil & gas, building & construction, and power sectors are the other major end-users of welding consumables in Indonesia.