Indonesia Commercial Vehicle Market to be dominated by Truck vehicle type till 2026
Launch of autonomous commercial vehicles and the demand for
last-mile delivery are driving the growth of Indonesia Commercial Vehicle
Market in the forecast period, 2022-2026.
According
to TechSci Research report, “Indonesia Commercial
Vehicle Market By Vehicle Type (Truck,
Bus/Van), By Transmission Type (Automatic, Manual), By Fuel Type (Petrol,
Diesel, Alternate Fuels), By Region, Competition Forecast & Opportunities,
2026”,
the Indonesia Commercial Vehicle market is anticipated to grow at a rate of
steady CAGR for the forecast period, 2022-2026. Growing construction and trade
activities are increasing the demand for material transportation, which is
driving the demand for commercial vehicles across Indonesia. Growing
environmental concerns and implementing stringent emissions norms encourage the
market players to introduce fuel-efficient commercial vehicles. The rising
disposable income of the consumers fuels the expenditure capacity of consumers,
which is expected to contribute to the high market demand. Various industries
adopt efficient managing techniques for the transportation of goods in
commercial vehicles. Original Equipment Manufacturers are introducing advanced
technologies equipped with the existing infrastructure of commercial vehicles
such as display of current traffic condition, accident warnings, weather
forecast, and the ongoing road construction works. The increased demand for
connectivity and telematics among the industry players to revolutionize the
logistics and transportation industry is fueling the demand for commercial
vehicles in the country. Connected
commercial vehicles provide several benefits, such as preventing wear and tear
in the vehicles or unauthorized access to the vehicles and enhanced safety.
Connected commercial vehicles ensure higher safety, efficiency, and performance
than conventional commercial vehicles and lower workload in road logistics and
off-highway applications. Fleet owners and operators can manage their fleets in
real-time and efficiently operate their fleet individually by gaining
information like the current vehicle. Commercial vehicle market players are
launching connected commercial vehicles to boost their sales and experience
high growth in the forecast period.
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The
Indonesia Commercial Vehicle market is segmented on the basis of vehicle type, transmission
type, fuel type, competitional landscape, and regional distribution.
On the basis of vehicle type, the
Indonesia Commercial Vehicle market is divided into truck and bus/van. The
truck segment is expected to hold the largest market share in the forecast
period, 2022-2026. The developing economic situations are fueling truck
manufacturing in different regions in Indonesia. Increasing road construction,
growing urbanization, and the developing urban logistics sector contribute to
the high market growth in the coming five years. The high demand from the
construction industry to carry materials to the construction sites is expected
to fuel the demand for trucks in the region.
With the ongoing commercial activities and the expansion of trade with
other countries and within themselves, the truck provides a cost-effective
transportation solution and, therefore, is in high demand throughout Indonesia.
On the basis of transmission type, the
Indonesia Commercial Vehicle market is bifurcated into automatic and manual.
The automatic segment is expected to witness the fastest incremental growth in
the next five years. Automatic transmission is easier to use and more
comfortable than the manual transmission type, ensuring a smooth ride.
Automatic transmission enables the driver to navigate the dense traffic easily
and significantly lower the risk of stalling a vehicle when the traffic light
changes.
On the basis of fuel type, the Indonesia
Commercial Vehicle market is divided into petrol, diesel, and alternate fuels.
The Petrol fuel type segment is expected to dominate the market in the next
five years. The high demand for petrol from various prominent sectors,
including the energy generation, automobile, and industrial sectors, is
boosting its demand in the region.
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“The shift in the consumer preference to
buy electric vehicles due to the alarming level of pollution and the depleting
conventional energy sources is expected to create lucrative opportunities for
the growth of the commercial vehicle market. The electric vehicle sector comes
under the priority sectors in Indonesia, and encouragement by the leading
authorities to make investments for the charging infrastructure is boosting the
growth of electric vehicles in Indonesia. Market players are making efforts to
launch commercial electric vehicles in various models, colors, power, and
charging capacity to attract more customers, thereby expected to propel the
Indonesia Commercial Vehicle market growth till 2026” said Mr. Karan Chechi,
Research Director with TechSci Research, a research-based global management
consulting firm.
“Indonesia Commercial
Vehicle Market By Vehicle Type (Truck, Bus/Van), By Transmission Type
(Automatic, Manual), By Fuel Type (Petrol, Diesel, Alternate Fuels), By Region,
Competition Forecast & Opportunities, 2026”, has evaluated the future
growth potential of Indonesia Commercial Vehicle and provides statistics &
information on market size, structure and future market growth. The report
intends to provide cutting-edge market intelligence and help decision makers
take sound investment decisions. Besides, the report also identifies and
analyzes the emerging trends along with essential drivers, challenges, and
opportunities in Indonesia Commercial Vehicle market.
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