LEV Sales in Indonesia expected to cross 200,000 by 2026F with government courting foreign investments and promoting green growth: Ken Research

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Sep 20, 2022, 10:00 ET

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:-

Indonesia LEV Market Outlook

Related Reports:-

Philippines Light Electric Vehicle Market Outlook to 2027: Driven by government initiative to develop the EV industry and increasing consumer preference towards limiting carbon footprint

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.

Malaysia Electric Vehicle Market Outlook to 2026: Driven by government initiatives along with the need to curb vehicular emissions, and increasing charging infrastructure

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 EV Charging Equipment Market Outlook to FY'2026 – Driven by Increasing Adoption of Electric Vehicles along with Implementation of FAME II Policy by Government

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 Electric Vehicle Charging Equipment Market Outlook to 2026: Driven by government support and incentives with the increasing focus to achieve green and sustainable economy

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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