Indonesia Passenger Car Market
By propulsion, the electric & hybrid vehicles segment is expected to register a significant growth during the forecast period.
WILMINGTON, NEW CASTLE, DELAWARE, UNITED STATES, June 21, 2024 /EINPresswire.com/ — The ๐๐ง๐๐จ๐ง๐๐ฌ๐ข๐ ๐๐๐ฌ๐ฌ๐๐ง๐ ๐๐ซ ๐๐๐ซ ๐๐๐ซ๐ค๐๐ญ report provides a detailed analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive landscape, and evolving market trends. The Indonesia passenger car market was valued at $15.62 billion in 2020, and is projected to reach $23.33 billion by 2030, registering a CAGR of 4.2% from 2021 to 2030.
๐๐๐ช๐ฎ๐๐ฌ๐ญ ๐๐๐ฆ๐ฉ๐ฅ๐ ๐๐๐ ๐๐ฌ ๐๐จ๐ฐ: https://www.alliedmarketresearch.com/request-sample/A14288
Passenger car is a motor vehicle designed to carry multiple passengers on highways and streets, with maximum mass not exceeding 3.5 tones. Passenger vehicles are the most common mode of transportation in Indonesia due to growing per capita income. Passenger cars are generally propelled by internal combustion engine or a battery-operated electric motor. This can include some passenger pickup trucks, hatchback cars, sedan cars, compact cars, utility cars, and minivans. The limit of passengers the vehicle can carry for it to be considered a passenger car is nine. Sporty utility vehicles and the multi-purpose vehicles are the most popular passenger cars in Indonesia.
๐๐ก๐ ๐ค๐๐ฒ ๐ฉ๐ฅ๐๐ฒ๐๐ซ๐ฌ ๐ฉ๐ซ๐จ๐๐ข๐ฅ๐๐ ๐ข๐ง ๐ญ๐ก๐ข๐ฌ ๐ซ๐๐ฉ๐จ๐ซ๐ญ ๐ข๐ง๐๐ฅ๐ฎ๐๐
Honda Motor Co., Ltd., Toyota Motor Corporation, Isuzu Motors Limited, DFSK Motors, Suzuki Motor Corporation, Nissan Motor, BMW AG, Mitsubishi Motors Corporation, Mazda, Wuling Motor (SGMW Motors)
The Indonesia passenger car market size is analyzed across propulsion, body type, and weight. Based on propulsion, the internal combustion engine segment contributed to more than four-fifths of the total market share in 2020, and is anticipated to lead the trail by the end of 2030. On the other hand, the electric & hybrid vehicles segment would register the fastest CAGR of 32.1% during the forecast period.
๐๐ฎ๐ฒ ๐๐จ๐ฐ ๐ญ๐ก๐ ๐๐ฑ๐๐ฅ๐ฎ๐ฌ๐ข๐ฏ๐ ๐๐๐ฉ๐จ๐ซ๐ญ: https://www.alliedmarketresearch.com/checkout-final/b3fa703d15f86cc0779c1d6813549ada
Factors, such as significant increase in foreign direct investment (FDI) in Indonesiaโs automotive industry, high demand for multi-purpose vehicles (MPVs) & special utility vehicles (SUVs), and introduction of the Low-Cost Green Car (LCGC) initiative are expected to drive the market growth. However, increase in prices of passenger cars and improvement of public transportation hinder the market growth. Further, increasing efforts toward the adoption and development of electric & hybrid and booming domestic auto industry are some of the factors that are expected to offer lucrative opportunities for the market growth.
Based on weight, the 3001 to 5000 pound segment held nearly half of the total market share in 2020, and is projected to maintain the lionโs share by 2030. The less than 3000 pound segment, however, would exhibit the fastest CAGR of 4.9% from 2021 to 2030.
๐๐๐ญ ๐๐ฎ๐ฌ๐ญ๐จ๐ฆ๐ข๐ณ๐๐ ๐๐๐ฉ๐จ๐ซ๐ญ๐ฌ ๐ฐ๐ข๐ญ๐ก ๐ฒ๐จ๐ฎโ๐ซ๐ ๐๐๐ช๐ฎ๐ข๐ซ๐๐ฆ๐๐ง๐ญ๐ฌ: https://www.alliedmarketresearch.com/request-for-customization/A14288
Significant increase in foreign direct investment (FDI) in Indonesiaโs automotive industry, high demand for multi-purpose vehicles (MPVs) & special utility vehicles (SUVs), and introduction of the Low-Cost Green Car (LCGC) initiative drive the growth of the Indonesia passenger car market. On the other hand, surge in prices of passenger cars and developments in public transportation impede the growth to some extent. However, rise in efforts toward the adoption of electric & hybrid vehicles and surge in the domestic auto industry is expected to create lucrative opportunities in the industry.
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By body type, in terms of revenue, the SUV segment is anticipated to exhibit significant growth during forecast period.
By weight, the less than 3000-pound segment is projected to lead the Indonesia passenger car market in terms of growth rate, owing to higher CAGR.
๐๐ก๐๐๐ค ๐จ๐ฎ๐ญ ๐ฆ๐จ๐ซ๐ ๐ซ๐๐ฅ๐๐ญ๐๐ ๐ฌ๐ญ๐ฎ๐๐ข๐๐ฌ ๐ฉ๐ฎ๐๐ฅ๐ข๐ฌ๐ก๐๐ ๐๐ฒ ๐๐๐ ๐๐๐ฌ๐๐๐ซ๐๐ก:
ASEAN car GPS navigation systems Market – https://www.alliedmarketresearch.com/asean-car-gps-navigation-systems-market
ATV and UTV Market – https://www.globenewswire.com/en/news-release/2023/06/16/2689765/0/en/ATV-and-UTV-Market-Size-to-Reach-18-6-Billion-Globally-by-2031-at-7-3-CAGR-Allied-Market-Research.html
Hypercar Market – https://www.globenewswire.com/en/news-release/2022/11/24/2562266/0/en/Hypercar-Market-to-Reach-224-5-Billion-by-2031-Allied-Market-Research.html
Electric Scooter and Motorcycle Market – https://www.globenewswire.com/en/news-release/2022/09/05/2509720/0/en/Electric-Scooter-and-Motorcycle-Market-To-Portray-93-9-Billion-by-2031-Allied-Market-Research.html
David Correa
Allied Market Research
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Article originally published on www.einpresswire.com as Indonesia Passenger Car Market Projected to Surpass by 2030