LEV Sales in Indonesia expected to cross 200,000 by 2026F with government courting foreign investments and promoting green growth: Ken Research
- The market is moderately fragmented with presence of major private and public manufacturers in various potential locations across Indonesia.
- To be price competitive and reduce the risk that comes from the mere sale of energy, CPOs may need to explore partnerships and adjacent offerings.
- With the largest reserves of nickel, a key raw material for lithium-ion batteries, Indonesia has a vision to lead the global EV battery market.
GURUGRAM, India, Sept. 20, 2022 /PRNewswire/ --
Strong Government Push: The government is aiming for 2.1 Mn electric motorcycles and 400k electric cars to be on the road by 2025 where 20% of these will be manufactured locally. From 2040, onwards, only electric motorcycles can be legally sold in the country. By 2050, all vehicles in Indonesia will be electric, thereby leading to a more ecologically sustainable environment in the country.
Battery Swapping: Battery swapping or battery-as-a-service allows customers to lease batteries as a separate component of the vehicle. The customer can take out the discharged battery and change it with a fully charged one. Battery swapping could address some of the key challenges in electric vehicles, such as the high battery replacement cost, long charging duration, and insufficient charging infrastructure.
Quick Interchange Station (QIS): Quick Interchange Station (QIS) requires minimal space for setting up compared to a charging station. Owners do not require parking. Vehicle owners need not invest in parking slots for vehicle charging.
Scaling EV charging infrastructure with focus on interoperability: Interoperability is the open communication and exchange of data between and among devices and/or software systems. It can be a big boon to the EV charging infrastructure. The open exchange of operational data between EV charging stations, network operators, and back-end payment systems is critical to public and private charging infrastructure.
Analysts at Ken Research in their latest publication "Indonesia LEV Market Outlook to 2026F – Driven by the Indonesian Government's policies, incentives and subsidies to make the country free emission by 2060" by Ken Research observed that the LEV market in Indonesia is currently quite under- developed but has huge potential in the future owing to strong support from the government's vision to make the country emission free. Growing population and rise in middle class affluent for personal transportation ownership along with moderate demand for e-mobility across Indonesian cities is expected to contribute to the market growth over the forecast period. The Indonesia LEV Market is expected to grow at a CAGR of 102.5% over the forecasted period 2021-2026F.
Key Segments Covered in Indonesia Light Electric Vehicle Market:-
By Type of Vehicle
- 2-Wheeler
- 3-Wheeler
By Type of 2-Wheeler
- Scooters/Mopeds/Bikes
- E-Cycles
By Maximum Speed
- 0-30 km/h
- 30-60 km/h
- 60+ km/h
By Engine Capacity
- 0-30 kW
- 30-70 kW
- 70+ kW
By Battery Type
- Unremovable Battery
- Removable Battery
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By End User
- Commercial
- Private
By Commercial End User
- Grocery Delivery
- Food Delivery
- CEP Delivery
- Others
By Region
- Jakarta
- Kalimantan
- Java
- Sumatra
- Others
Key Target Audience
- LEV Manufacturers
- LEV Dealers/Distributors
- Fleet Aggregators
- Government Agencies
- Automobile Consultants
- Multiple Unit Dwellings and Transport Infrastructure
Time Period Captured in the Report:
- Historical Period: 2016-2021
- Forecast Period: 2021-2026
Companies Covered:-
- Gesits
- Viar
- Volta
- Selis
- Polygon
- United Bike
- Gelis
- Tomara
- NIU Technologies
- ECGO
- Kymco
Key Topics Covered in the Report:-
- Indonesia Country Profile
- Indonesia Population Analysis
- Value Chain Analysis of LEV Market
- Indonesia LEV Market Size and Segmentations
- Growth Drivers of Indonesia LEV Market
- SWOT Analysis of Indonesia LEV Market
- Government Strategic Plans to accelerate growth of EVs
- Government Initiatives and Regulations in Indonesia LEV Market
- Key Trends and Developments in Indonesia LEV Market
- Key Stakeholders for EV Development in Indonesia
- Battery Swapping and Technology Innovations in EV Charging
- Issues and Challenges of Indonesia LEV Market
- End User Analysis
- Competitive Landscape and Cross Comparison of Major Players
- Market Opportunities and Potential for EV Charging Manufacturers
- Potential Product Options and Emerging Business Solutions
- Case Studies
- Research Methodology
- Appendix
For more information on the research report, refer to below link:-
Related Reports:-
The report focuses on Philippines Light Electric Vehicle Market segmentation By Type of Two/Three-Wheeler EV (E-Trikes and E-Motorcycles); By Type of Four-Wheeler EV (Passenger Car and Light Commercial Vehicle); By Type of Four-Wheeler EV Technology (HEV, PHEV and BEV); By Price of Four-Wheeler EV (Less than PHP 2,000,000, PHP 2,000,000-4,000,000 and More than PHP 4,000,000); By Type of Four-Wheeler EV Battery (Nickel Metal Hydride Battery, Lithium-Ion Battery, Nickel Manganese and Cobalt Battery); By Four-Wheeler EV Battery Capacity (Less than 2 kWh, 2-20 kWh, 20-40 kWh and More than 40 kWh); By Four-Wheeler EV Brands (Toyota, Lexus, Nissan and BYD) and By Region (Ilocos, Central Luzon, National Capital Region, Western Visayas, Central Visayas, Eastern Visayas, Mimaropa, Mindanao Region, Caraga, Bikol Region, Caragan Valley and Cordillera Administrative Region). Philippines LEV Market report concludes with projections for the future of the industry on the basis of revenue volume & average price, industry speaks and analysts' take on the future highlighting the major opportunities.
The electric vehicle market in Malaysia recorded a negative growth on the basis of revenue in between 2016 and 2021. The slowdown in growth is attributed to the lack of domestic manufacturers in the ecosystem, resulting in imports of these vehicles which ultimately, shoots up the price of EVs. Coupled with that, the advent of COVID-19 also impacted the EV market due to consumer's financial constraints and job losses. The electric vehicle market in Malaysia is heavily dependent on international manufacturers as national brands such as Proton and Perodua have not been able to establish its presence in the EV market as of 2021. However, consumers increasing awareness on environmental hazards along with favorable government initiatives such as income tax and sales tax exemptions for purchasing EVs will contribute in the growth of EV four-wheeler market in coming years. Malaysia wants to encourage people to adopt electric vehicles and other fuel-efficient vehicles. The electric vehicle market in Malaysia will witness rapid transformation with the advancement of solid-state battery technology which increases the efficiency of the battery performance. The Malaysian electric vehicle market is still in its early phases of development. The Malaysian government's EV rules and the continued introduction of new models contribute to the country's EV market growth.
India, the world's 6th largest economy by nominal GDP and the 3rd largest by PPP, is characterized as a middle-income developing market economy. 2- and 3- Wheelers that account for close to 50% share dominate the Indian urban mobility modal share. EVs are slowly gaining traction with less than 2% of vehicles deployed as EVs in India. The charging infrastructure in India is currently quite under-developed with as many as 26 EVs per charger available in the country, compared to only 8 in China and 17 in the US. There are ~300 community charging stations in India, of which 22 were fast-charging points in 202. However, India EV Charging Equipment Market gained significant momentum after the implementation of the FAME India scheme. The Department of Heavy Industry (DHI) also planned to incentivize 1,000+ charging stations with 6,000+ chargers, which is the major growth driver for the market. Lack of Space, Infrastructure, and Manpower for Setting-Up along with High Initial Cost of Charging Equipment and Installation are the major challenges in India EV Charging Equipment Market.
UAE is the second largest automotive market in the Gulf Cooperation Council (GCC) after Saudi Arabia owing to the growing population and high disposable income. The demand for vehicles in the country mainly originates from the construction, infrastructure, logistics, tourism, and public transport sectors have turned the emirate into a major exporter and re-exporter of vehicles. The transportation sector is one of the most significant contributors to CO2 emissions in UAE, second to the industrial sector. Incentives offered by the government, banks, and car dealers, has also led to the growth in the UAE's imports of EVs and increased environmental awareness among citizens. The Battery Electric Vehicles sales grew at a CAGR of ~49% during 2017 and 2021.
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