Key Market Indicators
Indonesia's commercial vehicle registration is projected to climb to approximately 1.91 million units by 2028, up from around 1.79 million units in 2023. This represents an average annual growth rate of 1%. Since 2010, the Indonesian market has experienced a significant uptick, increasing by 45.5% year on year. In 2023, Indonesia ranked seventh in commercial vehicle registrations, with Australia surpassing it with an equal number of units. Meanwhile, Canada, Mexico, and Argentina secured the second, third, and fourth spots, respectively. On the production front, Indonesia's commercial vehicle output is expected to reach about 161,000 units by 2028, up from roughly 152,000 units in 2023. This marks an average annual growth rate of 0.9%. However, since 2002, Indonesian supply has seen a decline, with an annual decrease of 1.8%. In the 2023 rankings, Indonesia was positioned at number 17 in commercial vehicle production, with Germany overtaking it at the same number of units. Mexico, China, and Canada ranked second, third, and fourth, respectively, in this category.
