Market Insights Mobility Commercial Vehicles

Buses - Indonesia

Indonesia

In Indonesia, the Buses market is expected to witness a significant growth in the coming years.
By 2024, unit sales in this market are projected to reach 2.32k vehicles.
This projection indicates a positive trend for the industry.
Looking ahead, the market is expected to exhibit an annual growth rate (CAGR 2024-2029) of -2.07%, resulting in a projected market volume of 2.09k vehicles by 2029.
This growth potential further emphasizes the promising future of the Buses market in Indonesia.
Furthermore, the production of Buses market in Indonesia is also expected to increase steadily.
By 2029, the production is estimated to reach 2.20k vehicles.
This indicates the potential for significant expansion and development within the industry.
When examining the international perspective, it is evident that the in the United States will be the key market for Buses market sales in 2024, with sales projected to reach 116.30k vehicles.
This showcases the global demand for Indonesian-made Buses market and highlights the country's strong position in the international market.
Overall, these projections and trends demonstrate the positive outlook for the Buses market in Indonesia, both domestically and internationally.
The growth potential and strong demand indicate a promising future for the industry in the coming years.
Indonesia's bus market is experiencing a surge in demand for electric buses, driven by the government's push for clean and sustainable transportation solutions.

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Analyst Opinion

The Buses market in Indonesia has been experiencing significant growth in recent years, driven by a combination of customer preferences, market trends, local special circumstances, and underlying macroeconomic factors. Customer preferences in the Indonesian Buses market have been shifting towards more fuel-efficient and environmentally friendly vehicles.

As concerns about climate change and air pollution continue to rise, customers are increasingly looking for buses that run on alternative fuels such as natural gas or electricity. This shift in preferences is also driven by government initiatives to reduce carbon emissions and promote sustainable transportation. In addition to fuel efficiency, customers in Indonesia are also demanding buses that offer greater comfort and safety features.

This includes features such as air conditioning, comfortable seating, and advanced safety systems. As the standard of living in the country continues to improve, customers are willing to pay a premium for buses that provide a more comfortable and secure travel experience. Trends in the Indonesian Buses market are also influenced by global and regional market developments.

For example, the increasing urbanization and population growth in the country have led to a higher demand for public transportation, including buses. This trend is expected to continue as more people migrate to cities and rely on buses as their primary mode of transportation. Another trend in the Indonesian Buses market is the growing popularity of electric buses.

As the technology for electric vehicles continues to improve and become more affordable, many bus operators in the country are transitioning from traditional diesel buses to electric ones. This trend is driven by both environmental considerations and the potential cost savings associated with electric buses. Local special circumstances in Indonesia also play a role in shaping the Buses market.

The country's geography, with its many islands and diverse terrain, presents unique challenges for transportation infrastructure. This has led to a greater demand for buses that are specifically designed to navigate difficult terrain and provide reliable transportation in remote areas. Underlying macroeconomic factors, such as GDP growth and government spending on infrastructure, also contribute to the development of the Buses market in Indonesia.

As the economy continues to expand, the government is investing in the improvement of transportation infrastructure, including the expansion and modernization of bus networks. This creates opportunities for bus manufacturers and suppliers to meet the growing demand for buses in the country. In conclusion, the Buses market in Indonesia is developing in response to customer preferences for fuel-efficient and comfortable vehicles, global and regional market trends, local special circumstances, and underlying macroeconomic factors.

As the country continues to urbanize and prioritize sustainable transportation, the demand for buses is expected to grow, creating opportunities for businesses in the industry.

Methodology

Data coverage:

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

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.