Indonesia Commercial vehicles Market | Size, Value, Share, Forecast, Analysis, Trends, Outlook, Growth, Revenue, Companies & Industry: Market Forecast By Vehicle Types, By Application, By Region And Competitive Landscape

Indonesia commercial vehicle market is experiencing moderate growth, propelled by the flourishing e-commerce landscape and escalating import-export trade. The nation's burgeoning e-commerce industry, amassing over $43 billion in revenue, has intensified the necessity for efficient transportation and delivery solutions.

This confluence of trade expansion and e-commerce proliferation has catalysed a heightened demand for commercial vehicles to facilitate seamless goods movement across the archipelago.

However, after two years rebound from the pandemic lows. Sharp interest rate hikes by the central bank over the last year, from 3.50% to 6.0%, have dampened consumer demand, particularly for large purchases such as commercial vehicles. Further, economic growth in the country moderated in the third quarter of 2023, to 4.9% year on year from 5.2% in the second quarter, reflecting a decline in government spending and weaker exports.

According to the research, Indonesia Commercial Vehicle Market size is projected to grow at a CAGR of 7.2% during 2024F-2030F. The Indonesian commercial vehicle market is poised for substantial growth in upcoming years, buoyed by strategic government initiatives and robust economic prospects.

The Low-Cost Green Vehicle (LCGV) program, which provides tax incentives for eco-friendly commercial vehicles, would stimulate market demand by incentivising the adoption of sustainable transportation solutions. Moreover, the government's unwavering focus on infrastructure development, exemplified by ambitious projects like the National Strategic Projects, would drive the requirement for specialized commercial vehicles to support construction activities.

Furthermore, the development of the new capital city, Nusantara, with an estimated cost of $35 billion for housing and commercial expansion, coupled with advancements in education, healthcare, and high-tech industries, is expected to bolster the demand for commercial vehicles significantly. The surge in demand would be further augmented by the allocation of $412 billion for infrastructure projects under the 2020-2024 National Mediu.

Market Segmentation by Vehicle Types

Trucks held a significant share of Indonesia commercial vehicle industry revenue in 2023 due to their pivotal role in transporting freight across diverse terrains. Furthermore, the relocation of the capital city from Jakarta to East Kalimantan has spurred infrastructure development, driving increased demand for commercial trucks in the market.

Market Segmentation by Application

In 2023, Logistic sector acquired the highest revenue share owing to rapid growth in of e-commerce sector along with urbanization trends, infrastructure upgrades, and cost-effective LCV operations. Moreover, the versatile LCVs cater to diverse logistics needs, from last-mile deliveries to transporting goods for thriving SMEs, driving their highest market share.

Market Segmentation by Region

Java has the acquired highest volume share in Indonesia's commercial vehicle market due to its economic significance, high population density, developed infrastructure, rapid urbanization, extensive industrial activity, and key role in trade and commerce. These factors drive substantial demand for commercial vehicles for logistics and transportation needs.

Key Attractiveness of the Report

• 10 Years Market Numbers.
• Historical Data Starting from 2020 to 2023.
• Base Year: 2023
• Forecast Data until 2030.
• Key Performance Indicators Impacting the Market.
• Major Upcoming Developments and Projects.
• Key Highlights of the Report
• Indonesia Commercial Vehicle Market Overview
• Indonesia Commercial Vehicle Market Outlook
• Indonesia Commercial Vehicle Market Forecast
• Historical Data and Forecast of Indonesia Commercial Vehicle Market Revenues & Volume for the Period 2020-2030F
• Historical Data and Forecast of Indonesia Commercial Vehicle Market Revenues & Volume, By Vehicle Types, for the Period 2020-2030F
• Historical Data and Forecast of Indonesia Commercial Vehicle Market Revenues & Volume, By Tonnage & Application, for the Period 2020-2030F
• Historical Data and Forecast of Indonesia Commercial Vehicle Market Revenues & Volume, By, Region for the Period 2020-2030F
• Industry Life Cycle
• Market Drivers and Restraints
• Market Trends
• Homologation Analysis
• Emission Norms Analysis
• Domestic Registration Norms Analysis
• Key Performance Indicators
• Market Scope and Segmentation

The report provides a detailed analysis of the following market segments:

• By Vehicle Types
  • Light Commercial Vehicles
  • Truck
  • Buses & Coaches
• By Application
  • Logistics
  • Mining & Construction
  • Passenger Transportation
  • Industrial
  • Others (FMCG, Waste management, Utility etc)
• By Region
  • Sumatra
  • Java
  • Kalimantan
  • Nusa Tenggara
  • Sulawesi
  • Maluku Island & Papua