Market Insights Mobility Commercial Vehicles

Trucks - Indonesia

Indonesia

In Indonesia, the Trucks market is anticipated to witness a significant growth in unit sales, with projections indicating a reach of 72.99k vehicles by 2024.
This positive trend is expected to continue with a compound annual rate (CAGR 2024-2030) of -2.90%, leading to a projected market volume of 61.16k vehicles by 2030.
A noteworthy aspect of this growth is the potential it holds for the production of Trucks market, which is predicted to reach 56.86k vehicles by 2030.
From an international perspective, in China is set to dominate the market, with an estimated sales volume of 3,741.00k vehicles in 2024.
This highlights the significant presence and impact of in China in the Trucks market.
Indonesia's commercial vehicle market is witnessing a surge in demand for trucks, driven by the country's rapid urbanization and infrastructure development.

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Analyst Opinion

The Trucks market in Indonesia is experiencing significant growth and development in recent years. Customer preferences in the Indonesian Trucks market are shifting towards more fuel-efficient and environmentally friendly vehicles.

Customers are increasingly looking for trucks that offer better fuel efficiency, lower emissions, and advanced technology features. This trend is driven by both environmental concerns and the desire to reduce operating costs. As a result, there is a growing demand for trucks with hybrid or electric powertrains, as well as trucks that are equipped with advanced telematics systems for better fleet management.

Another customer preference in the Indonesian Trucks market is for vehicles that are versatile and can be used for multiple purposes. Customers are looking for trucks that can be used for both transportation and construction purposes, allowing them to maximize the utility of their vehicles. This trend is driven by the need for flexibility and cost-effectiveness, as customers want to optimize their investment in trucks.

In terms of market trends, the Indonesian Trucks market is witnessing a shift towards smaller and more compact trucks. This trend is driven by the increasing urbanization in the country, as smaller trucks are more maneuverable and can navigate through congested city streets more easily. Additionally, smaller trucks are also more fuel-efficient, which aligns with the customer preference for better fuel efficiency.

Local special circumstances in Indonesia also contribute to the development of the Trucks market. The country's infrastructure development projects, such as the construction of roads and bridges, create a demand for trucks that can transport construction materials. This drives the demand for trucks with higher payload capacities and robust construction.

Underlying macroeconomic factors also play a role in the development of the Trucks market in Indonesia. The country's GDP growth and rising disposable incomes contribute to increased demand for trucks. As the economy grows, there is a need for efficient transportation of goods and materials, which drives the demand for trucks.

In conclusion, the Trucks market in Indonesia is developing due to customer preferences for fuel-efficient and versatile vehicles, as well as market trends towards smaller and more compact trucks. Local special circumstances, such as infrastructure development projects, also contribute to the growth of the market. The underlying macroeconomic factors, including GDP growth and rising incomes, further drive the demand for trucks in Indonesia.

Methodology

Data coverage:

The data encompasses B2B enterprises. Figures are based on unit sales and production of trucks.

Modeling approach:

Market sizes are determined through a combined Top-Down and bottom-up approach, building on specific predefined factors for each market. As a basis for evaluating markets, we use annual financial reports of the market-leading companies and industry associations, third-party studies and reports, survey results from our primary research (e.g., the Statista Consumer Insights Global survey). In addition, we use relevant key market indicators and data from country-specific associations, such as consumer spending per capita on transportation and consumer price index for purchase of vehicles. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, linear regression, the S-curve function and exponential trend smoothing methods are applied.

Additional notes:

The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice a year.