Market Size of Indonesia Box Truck Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 3.20 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Indonesia Box Truck Market Analysis
Indonesia's box truck market was valued at USD 2.0 billion in the current year and is projected to grow to USD 3.0 Billion in the next five years, registering a CAGR of 3.2% in revenue during the forecast period.
- The COVID-19 pandemic impacted the market, so box truck sales fell during the pandemic. The preference for self- and individual mobility and social distancing norms drove down public transportation. However, rapid urbanization and the need for mass material movement have improved the market conditions in the post-pandemic period.
- Over the medium term, growing e-commerce and logistics sectors across the country will likely increase the demand for box trucks for transportation purposes. Factors like increasing regulations on vehicle emissions, advancement in vehicle safety, the introduction of driver-assist systems in vehicles, and rapidly growing logistics in the retail and e-commerce sectors have been significantly driving the demand for new and advanced box trucks during the forecast period.
- Box trucks are in significant demand for residential applications such as transportation, boxes, furniture, and fragile goods. This is likely to witness substantial growth for the market during the forecast period.
- With the growing consumer trend toward one-day delivery across the country, the demand for box trucks is also rising. Box trucks often transport packages from one warehouse to another, where the parcels can then be loaded into delivery vans, which is anticipated to enhance the demand for box trucks during the forecast period.
Indonesia Box Truck Industry Segmentation
A Box truck is a commercial motor vehicle that is designed in such a way that each axle, from the tip of the cab to the rear of the trailer, is connected by a single frame.
Indonesia's box truck market is segmented into type, capacity type, propulsion, and application. Based on the type, the market is segmented into refrigerated box trucks and non-refrigerated box trucks. Based on the capacity type, the market is segmented into light-duty box trucks and medium and heavy-duty box trucks. Based on the propulsion, the market is segmented into internal combustion engines and electric. Based on the application, the market is segmented into industrial, commercial, and others.
For each segment, the market sizing and forecast have been done based on the value (USD billion).
| Type | |
| Refrigerated Box Trucks | |
| Non-Refrigerated Box Trucks |
| Capacity Type | |
| Light-Duty Box Trucks | |
| Medium and Heavy Duty Box Trucks |
| Propulsion | |
| Internal Combustion Engine | |
| Electric |
| Application | |
| Industrial | |
| Commercial | |
| Others |
Indonesia Box Truck Market Size Summary
The Indonesia box truck market is poised for significant growth over the forecast period, driven by the resurgence of demand in the post-pandemic era. The market, which experienced a downturn during the COVID-19 pandemic due to shifts in mobility preferences and social distancing measures, is now benefiting from rapid urbanization and the increasing need for mass material movement. The burgeoning e-commerce and logistics sectors are key contributors to this growth, as they drive the demand for box trucks to facilitate transportation. The market is also witnessing a rise in demand for box trucks used in residential applications, such as transporting furniture and fragile goods. The trend towards one-day delivery services is further propelling the need for these vehicles, as they play a crucial role in the logistics chain by transporting packages between warehouses.
The market is also influenced by advancements in vehicle technology and regulatory changes aimed at reducing carbon emissions. The Indonesian government's initiatives to cut emissions are encouraging the adoption of low or zero-emission technologies, including electric box trucks. This shift is supported by the introduction of alternative fuel vehicles and electric models by manufacturers like Mitsubishi Fuso Truck and Bus Corporation. The expanding cold chain industry is expected to boost the demand for refrigerated box trucks, which are essential for transporting perishable goods. Key players in the market, such as Ford Motor Company, Mitsubishi Fuso Truck and Bus Corporation, and Hino Motors Co. Ltd, are actively expanding their offerings to meet the growing demand, further driving market growth.
Indonesia Box Truck Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Market Drivers
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1.2 Market Restraints
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1.3 Industry Attractiveness - Porter's Five Force Analysis
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1.3.1 Threat of New Entrants
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1.3.2 Bargaining Power of Buyers/Consumers
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1.3.3 Bargaining Power of Suppliers
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1.3.4 Threat of Substitute Products
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1.3.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION (Market Size by Value - USD Billion)
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2.1 Type
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2.1.1 Refrigerated Box Trucks
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2.1.2 Non-Refrigerated Box Trucks
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2.2 Capacity Type
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2.2.1 Light-Duty Box Trucks
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2.2.2 Medium and Heavy Duty Box Trucks
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2.3 Propulsion
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2.3.1 Internal Combustion Engine
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2.3.2 Electric
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2.4 Application
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2.4.1 Industrial
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2.4.2 Commercial
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2.4.3 Others
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Indonesia Box Truck Market Size FAQs
What is the current Indonesia Box Truck Market size?
The Indonesia Box Truck Market is projected to register a CAGR of 3.20% during the forecast period (2024-2029)
Who are the key players in Indonesia Box Truck Market?
Isuzu Motor Co. Ltd, Mitsubishi Fuso Truck and Bus Corporation, Ford Motor Company, IVECO GROUP Company (CNH Industrial NV) and Hino Motors, Ltd. are the major companies operating in the Indonesia Box Truck Market.
