Press release
Indonesia Passenger Car Market with Covid-19 Pandemic Analysis, Growth Rate, New Trend Analysis Forecast To 2031
According to the report published by Allied Market Research, the Indonesia passenger car market was estimated at $15.62 billion in 2020 and is expected to hit $23.33 billion by 2030, registering a CAGR of 4.2% from 2021 to 2030. The report provides a detailed analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive landscape, and evolving market trends.Download Report (PDF with Insights, Charts, Tables, Figures) at https://www.alliedmarketresearch.com/request-sample/14657
Significant increase in foreign direct investment (FDI) in Indonesia's 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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COVID-19 scenario-
Massive slowdown of the supply chain, falling business confidence, and increasing panic among customers impacted the Indonesia passenger car market negatively, especially during the initial phase of the pandemic.
However, as the overall situation is getting better, the market is expected to revive soon.
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 lion's share by 2030. The less than 3000 pound segment, however, would exhibit the fastest CAGR of 4.9% from 2021 to 2030.
The key market players analyzed in the Indonesia passenger car market report include Honda BMW AG, DFSK Motors, Honda Motor Co., Ltd., Isuzu Motors Limited, Mazda, Mitsubishi Motors Corporation, Nissan Motor, Suzuki Motor Corporation, Toyota Motor Corporation, and Wuling Motor (SGMW Motors). These market players have incorporated several strategies including partnership, expansion, collaboration, joint ventures, and others to brace their stand in the industry.
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https://www.alliedmarketresearch.com/indonesia-passenger-car-market-A14288
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About Allied Market Research
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP, based in Portland, Oregon. AMR provides global enterprises as well as medium and small businesses with unmatched quality of ""Market Research Reports"" and ""Business Intelligence Solutions."" AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
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