The Potential Market in Indonesia:
- 250 millions of populations.
- From now to 2024, annual growth of >3% is expected in global truck market, mainly driven by global GDP growth, estimated at 3.3% per year.
- The Indonesia truck’s development is still significant, proven by the increasing sales trucks in 2017. The statistic shows the growth of truck is estimated at CAGR 3.5% and bus growth is around to 1.9% to 2020. In truck segment, the gasoline light-duty truck segment (GLDT) is expected to experience the fastest growth at 4.6% while the medium-duty bus segment (MDB) in bus segment is expected around 3.2% to 2020.
- S&P Global Ratings raised Indonesia’s rating to “investment grade”, bringing Indonesia is a stable country and decent of investment. It is boosting growth and demand from all rising industrial sectors included transportation sector. It can encourage growth of bus and truck sectors in Indonesia.
- Indonesia is also moving to establish mass transit systems including bus rapid transit (BRT) system. The Transportation Ministry has urged all provincial governments to build a bus rapid transit (BRT) system and it has set targets to grant 3,000 BRT-standard buses to 34 provinces in Indonesia until 2019.