December 14, 2021 21:00 ET | Source: Joint Market Research Joint Market Research
Portland, Oregon, December 14, 2021 (GLOBE NEWSWIRE) - According to a report released by the United Market Research Corporation, the Indonesian passenger car market in 2020 is estimated to be 15.62 billion U.S. dollars and is expected to reach 23.33 billion U.S. dollars by 2030 , The compound annual growth rate is 4.2% from 2021 to 2030. The report analyzes in detail the top investment areas, top winning strategies, driving factors and opportunities, market size and estimates, competitive landscape, and changing market trends.
The significant increase in foreign direct investment (FDI) in the Indonesian automotive industry, high demand for multi-purpose vehicles (MPV) and special multi-purpose vehicles (SUV), and the launch of the low-cost green car (LCGC) initiative have driven the growth of the Indonesian automotive industry . Indonesian passenger car market. On the other hand, the rise in passenger car prices and the development of public transportation have hindered growth to a certain extent. However, the increased adoption of electric and hybrid vehicles and the surge in the domestic automobile industry are expected to create lucrative opportunities for the industry.
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The Indonesian passenger car market is analyzed in terms of propulsion, body type and weight. In 2020, the internal combustion engine segment will account for more than four-fifths of the total market share, and it is expected to take the lead by the end of 2030. On the other hand, the electric and hybrid vehicle segment will register the fastest compound annual growth rate during the forecast period of 32.1%.
According to the body type, the SUV segment will account for nearly two-fifths of the total market revenue in 2020 and is expected to dominate by 2030. On the other hand, in the entire forecast, the hatchback segment will use the fastest CAGR period of 6.2%.
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In terms of weight, the market segment of 3001 to 5000 pounds accounted for nearly half of the market share in 2020 and is expected to maintain the largest share by 2030. However, the market segment below 3,000 pounds has the fastest compound annual growth rate of 4.9%. 2021 to 2030.
The main market players analyzed in the Indonesian passenger car market report include Honda BMW AG, DFSK Motors, Honda Motor Co., Ltd., Isuzu Motors Co., Ltd., Mazda, Mitsubishi Motors, Nissan Motors, Suzuki Motors, Toyota Motor Corporation, and Wuling Motors (SGMW Motors). These market participants have adopted a variety of strategies, including partnerships, expansion, collaboration, joint ventures, etc., to consolidate their position in the industry.
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