Indonesia Commercial Vehicle Market size is projected to grow at a CAGR of 7.2% during 2024F-2030F

By vehicle types, trucks attained the highest revenue share in Indonesia Commercial Vehicle Market – 6Wresearch

Trucks in 2023 held a prominent share of Indonesia's commercial vehicle industry revenue attributed to their vital role in transporting freight across diverse terrains. Moreover, the relocation of the capital city from Jakarta to East Kalimantan has spurred infrastructure development, stimulating increased demand for commercial trucks in the market.

According to 6Wresearch, Indonesia Commercial Vehicle Market size is projected to grow at a CAGR of 7.2% during 2024F-2030F. Indonesia has experienced a significant rise in domestic and foreign tourism, with domestic tourist movements reaching 433.57 million trips in the first semester of 2023, marking a 12.57% increase from 2022. Foreign tourist visits as of July 2023 reached 6.31 million, showing a staggering 196.85% increase compared to the previous year.  This surge has propelled the demand for commercial vehicles, such as buses, vans, and taxis, which are crucial for transporting tourists between airports, hotels, and popular destinations like Bali, Yogyakarta, and Jakarta.

Concurrently, Indonesia anticipates a shift towards electrified fleets, exemplified by the growing market for battery electric buses, notably managed by PT Transportasi Jakarta (Transjakarta) in Greater Jakarta. In March 2023, the Coordinating Ministry for Maritime and Investment Affairs announced a subsidy package of 149 billion IDR (~$9.9 million) to support the development of Battery Electric Vehicles (BEVs), contributing to market growth for commercial vehicles.

Additionally, the Indonesian government's mandate targets 10% of public transport fleets to be electric or hybrid by 2025, as outlined in Presidential Regulation No. 22/2017, driving a heightened demand for commercial vehicles supporting this transition.

According to Dhaval, Research Manager, 6Wresearch, in Indonesia, Java is expected to continue acquiring the highest volume share due to its dense population, well-developed infrastructure, and significant economic activities. Java serves as the country's commercial hub, driving demand for various goods and services, including commercial vehicles.

Indonesia Commercial Vehicle Market (2024-2030) report provides an in-depth analysis with 40 figures and 36 tables, covered in 197 pages. The report comprehensively covers the market by vehicle types, applications and regions. The report provides a detailed as well as unbiased analysis of the ongoing drivers, opportunities/high growth areas, and trends of the sector which are projected to support the stakeholders to align as well as devise their market strategies as per the latest and future market dynamics.