Thailand Online Insurance Market Size and Research 2022, CAGR Status, Growth Analysis by Countries, Development Factors, Business Updates and Strategies till 2027: Ken Research

The Online Insurance market in Thailand has grown at an increasing growth rate of CAGR ~% over the period 2016-2021 supported by the increase in continuous growth of aging population, increased health spending in the country along with growing digital disruption and rising awareness on financial planning among the citizens. Thailand consumers have been evolving dynamically in their quest for convenience, health, and value with the pandemic that forced everyone to issue insurance with sound government policies have further accelerated these trends along with the changing needs and preferences of consumers. Implementation of Insurance Development Plan 4.0 policy of digitally transforming the country by the government is a major growth driver of the market.

Thailand Online Insurance market is currently in the growing stage where citizens are getting used to purchasing short insurance plans as they are much cheaper compared to long term plans. Thailand Online Insurance Users have tremendously increased from over the years owing to the increased convenience where easy comparisons can be made with verified credibility of online insurance companies with minimal paperwork, lower insurance premium and instant insurance issuance.

The market is challenged integrating new technology into existing systems, lack of speed to deliver new services into the market, high it run time cost before migrating to digitally enhanced systems, lack of it expertise, analyzing a large volume of customer data, cyber threats and more. However, these challenges can be managed with providing efficient customer-oriented service and leverage technology to forecast and optimize outputs. To embrace full digital transformation, insurance companies must overcome different barriers to modernize their operations from integrating new technology to tackling with cyber threats.

Thailand Online Insurance Market Overview:

The Thailand Online Insurance Market has grown with ~% from 2016 to 2021, COVID-19 being the largest driver for the growth in Thailand’s Online Insurance market as it compelled people to issue insurance online which has spurred Health Insurance in the country as people were inclined toward family health security and uncertain circumstances. Implementation of Insurance Development Plan 4.0 policy of digitally transforming the country is a major growth driver of the market.

Thailand Online Insurance Industry Segmentations:

By Product Type: In Product type, Non-Life Insurance dominate the market as people in Thailand prefer Non- life insurance over  life insurance as non-life insurance takes care of the compensation to be paid to the third party in any case of damage to the property or life.

By Non- Life Insurance: The Health Insurance segment conquers the market with highest contribution Thailand is one of the fastest-ageing countries in the world where  60+ old spend more on health and purchase insurance as the country provides wide coverage for various health issues for different age groups.

By Region: Bangkok overpowers the Online Insurance Market Segmentation by Region as Bangkok has high urban population of 52.3% and high working population of 65.8% who have taken insurance via online websites owing to the awareness and online convenience in urban areas.

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By Income: People with income level less than 40k dominate the market as they tend to buy online insurance as it is cheaper online, where the premium is less, and the policy can be used for the daily requirement such as vehicle and travel. A similar trend is expected to be followed in 2026F where people tend to buy online insurance as it is cheaper compared to the traditional way of purchasing insurance with very limited paper work. Due to the intervention of Insurance Development Plan 4.0 policy, which encourages e-platforms, the use of company website and aggregators would be increasing in the future but to be dominated by Agents mode of distribution.

By Mode of Distribution: The online insurance market by mode of distribution is dominated by Agents because Thais believe that Agents understand the features and benefits of different insurance plans & help them choose the right policy.

Comparative Landscape in Thailand Online Insurance Market:

The Online Insurance Market in Thailand is extremely consolidated with one market leader, Prudential Life Assurance contributing ~% of the total market share in the industry in 2021 with a revenue of THB ~Mn. Companies are competing against each other to acquire and retain clients focusing on providing customer-oriented services, expand geographical presence and advanced customer interface. Key competitive parameters include sectors/ product portfolio, associations/ subsidiaries/ partners, no of policy holders, target for tele-sales representatives, key performance indicators, and operational analysis of insurance departments.

Thailand Online Insurance Market Outlook and Projections:

Online Insurance in Thailand is expected to increase with a revenue of THB ~Mn  and increasing no of insurance users of ~ Th by 2026F owing to a shift to targeted life and non-life insurance management in the country. Factors like rising aging population, increase in mobile commerce, rising health spending by consumers, convenient insurance issuance with minimal paper work along with government and private initiatives in future will drive the market in future.

Thailand Online Insurance Market Companies Covered:

• Prudential Life Assurance
• Muang Thai Life Assurance
• Bangkok Life Assurance
• South East Life Insurance
• Ocean Life Insurance
• FWD Life Insurance
• Allianz Ayudhya Assurance
• SCB Insurance
• Manulife Insurance
• Krungthai AXA Life Insurance

Key Topics Covered in the Report:

·         Executive Summary of Thailand Online Insurance Market

·         Thailand Country Overview

·         Thailand Insurance Sector Overview

·         Number of Online Insurance Companies in Thailand

·         Thailand Online Insurance Market Genesis and Overview

·         Major Challenges in Thailand Online Insurance Market

·         Comprehensive Analysis on Thailand Online Insurance Market (Market Size, 2016-2026F; Market Shares; Future Trends)

·         Industrial Analysis of Thailand Online Insurance Market

·         Government and Private Initiatives for Thailand Online Insurance Market

·         Technologies Shaping Thailand Online Insurance Market

·         Competitive Landscape in Thailand Online Insurance Market

·         Analyst Recommendations

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Ankur Gupta, Head Marketing & Communications

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5 Key Insights on US$320 Billion Opportunity in North America 5G Equipment and Device Market: Ken Research

Driven by Consumer Demand for Networks with Higher Levels of Control, Customization, Security, and Low Latency the 5G Equipment and Device Market in North America is forecasted to cross $320 Bn by 2030 says Ken Research Study

5G is the 5th Generation mobile network technology that delivers lower latency, which can enhance the functionality of corporate applications and other digital experiences including online gaming, videoconferencing, self-driving cars, etc. The market for 5G devices is predicted to rise as connectivity, digital apps, and wearable technologies become more widely used. Additionally, modernizing current support infrastructures, such as modems, towers, and other support equipment, will open up a lot of doors for new players. As the adoption of 5G technology has seen favorable signals globally, the rise of the 5G devices market is anticipated to drive considerable prospects.

According to Ken Research estimates, the North America 5G Equipment and Device Market – which grew from around US$4 Bn in 2019 to nearly US$25 Bn in 2021 – is expected to grow further into a more than US$320 Bn opportunity by 2030.

1.  North America has Witnessed Rapid Growth in 5G Adoption During COVID-19 Owing to People Relying on Mobile Networks, and is Likely to Continue Momentum with ~20% CAGR Until 2030

The North America 5G Equipment and Device Market witnessed rapid growth during the forecast period 2022-2030 primarily due to a higher level of control, security, and low latency.  Furthermore, during the Covid-19 pandemic, the mobile industry developed focus as people relied on mobile networks to stay connected and access life-enhancing services. The market is forecast to reach 320 Bn by 2030 from 25 Bn in 2021, witnessing a CAGR of ~ 20% during this period.

2.  Adoption of Advanced Technology and Surge in Demand for 5G Owing to its Low Latency, Drives the 5G Equipment and Device Market in North America during the Forecasted Period.

A large number of research and development along with a higher rate of adoption of advanced technologies is driving the growth of 5G equipment and devices in North America. The increasing demand for 5G technology is boosting the 5G equipment market. Owing to the surge in demand for 5G technology because of its low latency, operators have started investing in 5G technology providing a growth opportunity for the market.

According to the GSM Association (GSMA), North America Report in 2022, the deployment of the C-band spectrum is expected to drive the investment of US$ 293 billion for 5G by mobile operators in North America by 2025. It is expected to provide a middle ground for capacity and coverage of 5G networks.

3.  The Higher Cost Associated with Implementation of 5G equipment Deters Most Potential Participant and End User Companies Limiting Market Prospects

The high cost of implementation and integration of 5G equipment is a major challenge for 5G Equipment and Devices in North America as moving from 4G to 5G will require significant expenditure and investment. Deployment of 5G requires network infrastructure components like small cells and macro cells. A macro cell costs approx. US$ 2,00,000 to set up whereas small cells costs around US$ 10,000 each. Along with this cost to buy spectrum, configuration, test, and maintenance of network implement 5G are also highly expensive.

4.  Smartphones Dominate the 5G Devices Market Contributing Over 40% of the Revenue Share and They are Likely to Retain Dominance Even During Forecast Period

Among the device segments, smartphones remained the dominant segment during the 2019-2021 period contributing over 40% of the market revenue share. Further the Research Study found that this segment is likely to retain dominance even by 2030. Their dominance is owing to the versatility offered through the many applications as the smartphone is a portable computing device that combines mobile telephone and computing functions in one unit. It is a cellular device with advanced features owing to hardware capabilities and operating system which provide software, internet, and multimedia functionality along with calling and text messaging. The smartphone manufacturing companies are proactively adopting the 5G technology as a next-generation communication solution.

However, the laptop segment is expected to witness the fastest growth during the forecast period at about 30%. A laptop is a small, portable personal computer with a screen and alphanumeric keyboard. It has the screen mounted on the inside of the upper lid and the keyboard on the inside of the lower lid, although laptops with the detachable keyboard are also available on the market. The growth is owing to the growing need for high data speeds to use the advanced graphics intensive applications and media.

5.  Few Diverse Global Players Dominate the Market Holding More than Half of Market Revenue Share Despite Presence of over 100 Competitors

The North America 5G equipment and Device industry are highly competitive in nature with over 100 participants comprising global players (having presence in 2 or more continents), regional players (having presence in multiple countries within North America), and Country-Niche Players (presence limited to just 1 country or very niche presence in the value chain). Most of Country-Niche’s players are component or services suppliers for 5G equipment and device manufacturers. Some of the Middleware and Firmware Solutions providers develop hardware and software including operating systems, user interfaces, and applications necessary for the implementation, maintenance, and operation of 5G services.

However, the Research study found that few diversified global players control a dominant share of the market, and a significant number of these players are headquartered within the North American region, enabling its strong production and consumption balance.

For More Information, refer to below link:-

5G Network Equipment Manufacturers in North America

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3 Key Insights on US$ 80 Bn Opportunity in the Global Energy Drinks Market: Ken Research

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Driven by surging demand for Energy Drinks as a potential energy booster to improve cognitive and physical performance along with the change in lifestyle, eating, taste, and drinking patterns among consumers, the Global Energy Drinks Market is Forecasted to reach nearly US$ 84 Bn by 2028 says Ken Research Study.

Energy drinks are beverages that contain a high level of stimulant ingredients like caffeine, ginseng, guarana, taurine, and others as well as sugar, vitamins or carnitine, and others. These products are promoted to boost energy levels and enhance physical performance and mental alertness.

Ken Research shares 3 key insights on this high-opportunity market from its latest research study.

1. Growing Popularity of Energy-Boosting Drinks Among Consumers Encourage Market Growth

Energy Drinks are widely popular among the young and working population as functional drinks that boost physical energy and uplift mental alertness. The increasing demand for ready-to-drink and on-the-go drinks coupled with the availability of a wide variety of different flavored energy drinks are expected to propel the growth of the Global Energy Drinks Market. However, increasing health concerns related to the consumption of energy drinks may hamper the growth of the market.

According to Ken Research estimates, the Global Energy Drinks Market – valued at around US$ 35 Bn in 2017 and estimated to reach nearly US$ 50 Bn by 2022 – is expected to grow to around US$ 80 Bn opportunity by 2028.

2.    Increasing Consumption of Different Flavored Energy Drinks is Driving the Market Growth

The demand for nutritional and healthy beverage options such as energy drinks is increasing which offer benefits such as enhanced performance, alertness, boost energy levels, improved physical endurance, and others among consumers, which is anticipated to propel the growth of the market. In addition, products that offer zero-calorie, sugar-free, free from glucose, and high fructose are gaining attention among obese people, athletes, health-conscious consumers, and others. The increase in health-conscious consumers and the growing demand for convenient and on-the-go drinks is likely to augment the growth of the market.

The below graph depicts the perceived desirable effects of energy drinks among Malaysian consumers.

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3.    Health Concerns Related to Energy Drinks are the Most Significant Barrier to the Growth of the Market.

Energy drinks contain a high amount of caffeine and other ingredients which may lead to harmful impacts on health such as may increase heart rate, blood pressure, and sugar level, and may increase the risk of obesity, type-2 diabetes, cardiovascular diseases, gout, and other health problems. The increase in awareness and concerns regarding the harmful impact of excessive consumption of energy drinks on health among consumers may decrease the demand for the product in the market. The below graph depicts the maximum change in systolic blood pressure was significantly greater after energy drink consumption compared to placebo intake.

For More Information on the research report, refer to the below link: –

Global Energy Drinks Market

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Indonesia Industrial Waste Water Treatment Market Research Report 2027F: Ken Research

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Market Insight

The report “Indonesia Industrial Waste Water Treatment Market Outlook 2027F – Driven by Rising Industrialization, Depletion of Resources and Government’s Strong Initiatives in Waste Water Treatment” by Ken Research provides a comprehensive analysis of the potential of Waste Water Treatment industry in Indonesia. The report also covers overview and genesis of the industry, market size in terms of revenue generated; market segmentation by types of companies, by regions, by Industries; growth enablers and drivers, challenges and issues, trends driving adoption of advanced equipment’s; regulatory framework; end user analysis, industry analysis, competitive landscape including competition scenario, market shares of major players present across Indonesia. The report concludes with future market projections of each product segmentation and analyst recommendations.

How Is Waste Water Treatment Market Positioned in Indonesia?

Market Overview:

Water availability in Indonesia largely exceed the total water demand. Surface and groundwater resources are affected by environmental degradation and pollution. Only 4% of septage is collected and safely treated. As a result, 95% of wastewater is unsafely disposed of. Discharge of industrial wastewater is responsible for 7.24% of the pollution of surface water bodies. Industrial wastewater is a combination of both process wastewater and domestic wastewater.

The Waste Water Treatment industry is currently positioned in an early growing stage, with only 1% of the waste water is treated. There are over 100 companies in Indonesia with 15-20 major players in the market and ~80 SME’s capturing the rest of the market share in 2022. The market was in the fast growing stage till 2019-20 due to the ever increasing demand from end users such as Paper, Palm Oil and Textile Industry, due to new Omni regulation by Govt. of Indonesia. In 2020, due to COVID-19 the market saw a massive decline in its growth due to majority of industries being shut and no demand whatsoever for Treatment Plants in Indonesia.

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Indonesia Waste Water Treatment Market Segmentations

By Type of Companies

There are more EPC companies than OM in the current Indonesian Industrial Waste Water Market space, the reason for the same is due to new ZLD regulations by government. Thus, it has increased the requirement and commissioning of new treatment plants for industries.

By Region

Indonesia is experiencing solid economic growth with minimal impacts from the global economic crisis due to strong internal market growth. Jakarta and Java- Famous for Automobile and Textile industries. There are 2-3 industrial places, Bandung and Karawang. Karawang is the automobile hub of Indonesia, Bandung is hub for Textiles. Even government has decided to develop 7 new industrial regions in Bandung.

By Industries:

Palm Oil is being exported to India the most. Due to soaring prices in domestic market of Indonesia, exports to India have fell but still around most of the total palm oil market of the world is being taken care by Indonesia. Palm oil production is the highest.

Competitive Landscape in Indonesia Waste Water Treatment Market

The competition in the industry is concentrated with presence of around more than 100+ companies in the industry. There are more then 100+ contractors in the Indonesia Industrial Waste Water Treatment Market, with EPC companies around 75% and O&M companies around 25%. Major players include Kurita, Metito, Beta Pramesti with other players including Envitech Perkasa, PT Padi Hijau Buana, PT Amanaid, PT Eswareco Tama, PT Kohken Water Tech, Biosystem Limited, PT Hydromaster Harmoni Nusantara, PT Lautan Organo Water, PT Harum Tirta Jaya, PT Adika Tirta Daya, PJL/ Surya Cipta Waste Water. Companies in Waste Water Treatment market in Indonesia are competing based on as prior experience, cost, time to be taken, quality and other maintenance services.

Future Outlook of Indonesia Waste Water Treatment Market

The rising growing population along with the ever growing need of industries in order to cater the consumer demand of the Indonesian population, is expected to contribute to the market growth over the forecast period. Jakarta’s population is anticipated to grow from 95.4 Mn to 11.8 Mn at a growth rate of 1.7%. With the shift to a new capital of Kalimantan, Kalimantan is the area on the watchlist which is anticipated to grow even further.

Key Segments Covered:-

Indonesia Waste Water Treatment Market

By Region

Jakarta & Java

Sulawesi

Sumatra

Kalimantan

Maluku

Iranian Java

By Type of Companies:-

EPC

O&M

By Industries:-

Power plants

Paper

Textiles

Palm Oil

F&B

Others

Key Target Audience:-

Waste Water Treatment Service Providers

Water Treatment Equipment Distributors

Water Treatment Equipment Manufacturers

FMCG Companies

Waste Water Treatment Companies

Palm Oil Manufactures

Paper Manufactures

Government Bodies & Regulating Authorities

Time Period Captured in the Report:-

Historical Period: 2017-2022

Base Year: 2022

Forecast Period: 2022– 2027F

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Companies Covered:-

PT Beta Pramesti

Kurita Water Industries

Metito

Envitech Perkasa

PT Padi Hijau Buana

PT Amanaid

PT Eswareco Tama

PT Kohken WaterTech

Biosystem Limited

PT Hydromaster Harmoni Nusantara

PT Lautan Organo Water

PT Harum Tirta Jaya

PT Adika Tirta Daya

PJL Enviro/ Surya Cipta Waste Water

Key Topics Covered in the Report:-

Indonesia Waste Water Overview

Indonesia Industrial Waste Water Market Overview

Ecosystem of Indonesia Industrial Waste Water Market

Business Cycle and Genesis of Indonesia Industrial Waste Water Treatment Markets

Business Model in Indonesia Waste Water Treatment System

Value Chains of Indonesia Waste Water Treatment System

End User Analysis of Indonesia Industrial Waste Water Treatment Market

Industry Analysis of Indonesia Industrial Waste Water Treatment Market

SWOT Analysis of Indonesia Industrial Waste Water Treatment Market

Key Growth Drivers in Industrial Waste Water Treatment Market in Indonesia

Major Challenges and Issues in Indonesia Industrial Waste Water Treatment Market

Competition Framework in Indonesia Industrial Waste Water Treatment Market

Detailed Analysis on Indonesia Industrial Waste Water Treatment Market (Market Size and Segmentation, 2017-2022; Future Market Size and Segmentation, 2022-2027F)

Market Opportunity and Analyst Recommendations

For more information on the research report, refer to below link:-

Indonesia Industrial Waste Water Treatment Market: Ken Research

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Ken Research
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Philippines Light Electric Vehicle Market, Industry Revenue, Growth and Competition: Ken Research

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Philippines Light Electric Vehicle Market Segmentation, 2022

By Type of Two/Three Wheeler EV (E-Trikes and E-Motorcycles)

The revenue generated from the sales of e-trikes contributed to the majority share of XX% in 2022 out of the overall revenue generated by the 2/3W light electric vehicle industry. Governments’ public utility vehicle modernization program to replace fuel operated trikes by e-trikes served as a major determinant for the higher revenue contribution to the 2/3W LEV market.

By Type of Four-Wheeler EV (Passenger Car and Light Commercial Vehicle)

Revenue generated from the sales of electric passenger vehicles dominated the light electric four-wheeler market in Philippines in 2022 out of the overall revenue generated by four-wheeler LEV industry. International players such as Toyota, Lexus and Nissan among others were the major brands selling electric 4W models as of 2022. Electric light commercial vehicles have not been able to establish its presence in the Filipino market attributed to its higher prices.

By Type of Four-Wheeler EV Technology (HEV, PHEV and BEV)

Revenue generated from the sales of HEV models contributed to the majority share of XX% to the overall four-wheeler LEV market in 2022. The familiarity to ICE vehicles and higher upfront cost of BEV models served as a major challenge for the lower preference towards PHEV and BEV vehicles.

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)

Cost of electric vehicles serve as a major parameter impacting consumers buying decision. In 2022, electric four wheeler vehicles costing between PHP 2-4 million contributed to the highest revenue share of XX% out of the overall revenue generated by four-wheeler LEV market. Since, electric passenger vehicles have higher upfront cost compared to ICE vehicles, only the wealthier class in Philippines prefers purchasing electric operated passenger vehicles.

By Type of Four-Wheeler EV Battery (Nickel Metal Hydride, Lithium-Ion and Nickel Cobalt & Manganese)

Philippines had the fifth largest nickel reserves in the world, serving as the world’s largest nickel ore supplier as of 2022. Most of the electric four-wheeler models offered by Toyota and Lexus in Philippines utilized nickel metal hydride battery. Revenue generated from sales of EV four-wheeler models utilizing nickel metal hydride battery accounted for the majority share of XX% out of the overall revenue generated by four-wheeler LEV market in 2022.

By Four-Wheeler EV Battery Capacity (Less than 2 kWh, 2-20 kWh, 20-40 kWh and More than 40 kWh)

Revenue generated through sales of electric four-wheelers having battery capacity less than 2 kWh contributed to the majority share to the overall four-wheeler LEV market in 2022. Hybrid vehicles in Philippines were popular among consumers as of 2022, which have lower battery capacity as compared to fully operated electric models, as hybrid vehicles generally avails fuel as their main source of medium.

By Four-Wheeler EV Brands (Toyota, Lexus, Nissan and BYD):

Lack of domestic manufacturers serve as a major challenge for the Philippines LEV four-wheeler market as the industry is concentrated among few major international brands such as Toyota, Lexus, Nissan and BYD. Toyota and Lexus dominated the four-wheeler LEV market in Philippines, cumulatively contributing to the majority share of XX% out of the overall revenue generated by the electric 4W LEV industry in 2022.

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):

Revenue generated through sales of electric vehicles in the National Capital Region accounted for the highest share of XX% out of the overall revenue generated by LEV market in Philippines followed by Mindanao region.

Competitive Landscape in Philippines Light Electric Vehicle Market, 2022

The market is concentrated among few major international players for the four-wheeler LEV segment such as Nissan, BYD, and Toyota among others. Lack of domestic manufacturers makes the market moderately competitive. For the two and three-wheeler LEV segment, the market is highly competitive with both domestic and international manufacturers competing in the ecosystem. Some of the major players operating in the two/three wheeler LEV ecosystem includes NWOW, Tojo Motors and Bemac among others. Players in the LEV market compete on the basis of price, type of battery used in EV, battery capacity, charging time, range in distance, charging cost. LEV brands and manufacturers also faces high threat of substitution due to the huge upfront cost for EVs, making it suitable for consumers to opt for lesser priced ICE vehicles.

Key Segments Covered in Philippines Light Electric Vehicles Industry:-

By Type of Two/Three Wheeler EV

E-Trikes

E-Motorcycles

By Type of Four-Wheeler EV

Passenger Car

Light Commercial Vehicle

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By Type of Four-Wheeler EV Technology

HEV

PHEV

BEV

By Price of Four-Wheeler EV

Less than PHP 2,000,000

PHP 2,000,000-4,000,000

More than 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

More than 40 kWh

By Four-Wheeler EV Brands

Toyota

Lexus

Nissan

BYD

By Region

Ilocos

Central Luzon

National Capital Region

Western Visayas

Central Visayas

Eastern Visayas

Mimaropa

Mindanao Region

Caraga

Bikol Region

Caragan Valley

Cordillera Administrative Region

Time Period Captured in the Report:-

Historical Period: 2017-2022

Forecast Period: 2023F-2027F

Philippines Light Electric Vehicle Market Players

Electric Two-Wheelers

NWOW

Inokim

Maeving

KYMCO

Motor Star

Electric Three-Wheelers

Bemac

Terra Motors

Tojo Motors

SunE

Electric Four-Wheelers

Toyota

Nissan

BYD

Lexus

BMW

Audi

Porsche

Jaguar

For more information on the research report, refer to below link:-

Philippines Light Electric Vehicle Market

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Contact Us:-
Ken Research
Ankur Gupta, Head Marketing & Communications
Support@kenresearch.com
+91-9015378249

Indonesia LEV Market, Industry Growth and Analysis, Market By End User, By Commercial End User, By Type of Vehicle: Ken Research

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How Is LEV Market Positioned In Indonesia?

Indonesia is the world's fourth most populous nation and 10th largest economy in terms of purchasing power parity. The LEV space of Indonesia is highly dominated by the two-wheeler segment, as the country’s two-wheeler population is extremely large. Being a low-middle class dominated country leading to affordability issues, it results in a high demand for two-wheelers.

The market is moderately fragmented with presence of major private and public manufacturers in various potential locations across Indonesia. Different types of LEVs are available in the Indonesian Market, differentiated on the basis of being 2 or 3 wheelers, their top speed and engine capacity. While Gesits stands out in the race, other companies such as Viar, Volta, Selis are also the key players in the market. 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 fast economic growth and rapid urbanization in Indonesia, it is projected that more people will acquire a personal vehicle for mobility. Despite growing development of public transport infrastructure, ownership of personal transportation mode is still favoured by most Indonesians due to its flexibility, convenience and symbol of economic status. An effort to encourage Indonesia to become a major player in EV industry, the government created an EV ecosystem by involving stakeholders consisting of producers, battery producers, pilot projects and infrastructure such as charging stations and pilot projects showing great potential for the industry in future. With time and good infrastructure development, the unremovable charging methods are anticipated to gain popularity in the country, despite the dominance by the removable type due to its tighter design.

Indonesia LEV Market Overview and Segmentation

Indonesia LEV Market has grown at an increasing growth rate over the period 2017-2021 with ~% CAGR, supported by the supported by the growing population and rise of middle affluent class, favourability for personal transportation ownership, tax incentives, availability of natural resources, relatively cheaper electricity costs and more.

By Type of Vehicle (2-Wheeler vs. 3-Wheeler): Indonesia is dominated by the low-middle class sections where people look for pocket friendly & low maintenance vehicles leading to a higher demand for 2W.

By Type of 2-Wheeler (Scooters/Mopeds vs E-Cycles): The e-cycles are a part of the luxury segment, and hence would not witness growth as vast as the general electric 2-Wheelers.

By Maximum Speed: The Indonesian market as compared to the other ASEAN countries is working on a different trend. Other ASEAN countries have a much higher dominance of lower speed vehicles, whereas in Indonesia, the market is currently dominated by vehicles majorly in the higher speed range for greater mileage.

By Engine Capacity: Vehicles with a certain engine capacity are preferred as more powerful engines are likely to be able to accelerate faster and tow heavier loads. With more powerful and bigger engines, cars usually cost more and are expensive to maintain.  Hence, sale of vehicles above a certain engine capacity are very low.

By Battery Type (Unremovable vs Removable): Removable batteries are the most commonly used batteries in the country due to its convenience as compared to the unremovable batteries. Indonesians majorly prefer them as detachable batteries can be easily swapped and use normal portable charging where they can be charged anywhere.

By End User (Commercial vs Private): Many individuals and organizations/ companies are moving toward sustainability where the country is initiating to get to zero emission country in its energy sector by 2050. Hence, many have started to convert their fleets to greener alternatives.

By Commercial End User: The government is playing a vital role providing strong support and numerous benefits to companies striving towards achieving emission free country by giving tax benefits, subsidies on purchase of zero emission fleets, investments into the EV space which are driving the market.

By Region: In 2021, there was a large number of international visitor arrivals in the country. With Java and Jakarta being the hubs for tourism, many tourists take 2W on lease for commuting purpose. The country is working towards new and greener provinces with low penetration of EV vehicles and hence there are less vehicles in regions like Kalimantan, Sumatra and others.

Indonesia LIGHT Electric Vehicle Market Competition

The market is moderately fragmented with presence of major private and public manufacturers in various potential locations across Indonesia. Different types of LEVs are available in the Indonesian Market, differentiated on the basis of being 2 or 3 wheelers, their top speed and engine capacity. While Gesits stands out in the race, other companies such as Viar, Volta, Selis etc., are also the key players in the market. 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.

Indonesia LEV Market Future Outlook and Projections

Indonesia is one of the largest countries in the world. With fast economic growth and rapid urbanization in Indonesia, it is projected that more people will acquire a personal vehicle for mobility. The growing trend to live environmentally conscious in Indonesia’s middle affluent class are likely to uptake the EV sales in future. Despite growing development of public transport infrastructure, ownership of personal transportation mode is still favored by most Indonesians due to its flexibility, convenience and symbol of economic status. An effort to encourage Indonesia to become a major player in EV industry, the government created an EV ecosystem by involving stakeholders consisting of producers, battery producers, pilot projects and infrastructure such as charging stations and pilot projects showing great potential for the industry in future. With time and good infrastructure development, the unremovable charging methods are anticipated to gain popularity in the country, despite the dominance by the removable type due to its tighter design.

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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

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

For more information on the research report, refer to below link:

Indonesia Light Electric Vehicle Market

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Indonesia Electric Vehicle Charging Equipment Market Outlook to 2026: Driven by influx of investment from abroad coupled with increasing focus on emission control

Future Potential Market of LEVs in Last Mile Delivery Industry in KSA – Favorable Government Policies and Better Charging Infrastructure Availability to drive the LEV Sales in KSA Market

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Ken Research
Ankur Gupta, Head Marketing & Communications
Support@kenresearch.com
+91-9015378249

KSA Auto Finance Market Is Expected To Grow with Credit Disbursed Expected to Reach SAR 25,338.2 Mn by 2026F: Ken Research

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• Entry of women drivers in the market is expected to lead to an increase in the total cars sold, thereby positively affecting the credit disbursed in KSA Auto Finance market.
• The Vision 2030 project in KSA has massive plans for the economy targeting to improve employment figures that might aid the auto finance market in the country.
• The major players in the auto loan market include Al Rajhi and SNB followed by Emirates NBD, Banque Saudi Fransi. New banks that have entered the market include Al Jazira, Arab National Bank and Alinma.

Embracing digitalization: Automotive Financing Companies are increasingly moving towards higher technological advancements to improve operational profits as well as customer experience. For example- AI is increasingly making important decisions, from who gets approved for credit to how to answer customer questions about loan decisions in real time.

Entrance of New Players in the market and Increase in Private Entities: New players entering the KSA Auto finance market are Fin-tech companies. Around 38 companies have received approval from the Central Bank and have started garnering database by entering into the market with digital wallets and offering products like BNPL. The number of private entities in the Saudi Arabia auto finance market is increasing, hence the percentage share of government to private might shift to private.

Preference towards 4W instead of 2W: The car buying trend in KSA is driven by customers willing to buy new cars instead of used once. The population also prefers changing cars in every 5 years. Unlike South Asian countries where every household has a 2 wheeler, in KSA even the lowest income category commute using a car. Two wheelers in the kingdom of Saudi Arabia are perceived as an item of luxury rather than commute, and four wheelers have a higher preference rate.

Government policies: Vision 2030 by the KSA government has massive plans for the economy targeting to improve employment figures that might be fruitful for the auto finance market as well. Under the Vision 2030, the KSA Government plans on reducing the oil dependency and looking forward towards the adoption of Electric Vehicles. The government is keen on creating a domestic automotive industry and has encouraged global vehicle manufacturers to establish local operations.

Analysts at Ken Research in their latest publication “KSA Auto Finance Market Outlook to 2026F-Driven by Women Entering the Market, Growing Private Entities and Initiatives by the Government” by Ken Research observed the potential of Auto Finance Market Outlook in KSA. The rising Auto Finance consciousness among the population, along with increasing loan facilities, customer taste and preference, implementation of favourable government rules & regulations is expected to contribute to the market growth over the forecast period. The KSA Auto Finance Market is expected to grow at 6.6% CAGR over the forecasted period 2021-2026F.

Key Segments Covered:-

KSA Auto Finance

By Type of Lenders

Banks

NBFC

OEMS/Captives

By Type of Motor Vehicle

Passenger

Commercial

By Type of Commercial Motor Vehicle

HCV

MCV

LCV

By Type of Passenger Motor Vehicle

4W

2W

By Type of Vehicle Financed

New

Used

By Tenure of Loan for New Vehicles

1 Year

2 Year

3 Year and more

By Tenure of Loan for Old Vehicles

1 Year

2 Year

3 Year and more

Key Target Audience:-

KSA Auto Industries

Government Bodies & Regulating Authorities

Finance Industry

Car company

Automobile dealer and users

Time Period Captured in the Report:-

Historical Year: 2018-2021

Base Year: 2021

Forecast Period: 2022– 2026F

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Companies Covered:-

Al Rajhi Bank

Riyad Bank

National Commercial Bank

Abdul Latif Jameel

Arab National Bank

The Saudi Investment Bank

Emirates NBD

Saudi Finance Company

Al Amthal Financing Company

Alinma Bank

Key Topics Covered in the Report:-

KSA Automotive Market Overview

Landscape of Total Number of Cars in KSA Automotive Market, 2021-2024F

KSA Automotive Finance Market Overview

Ecosystem of KSA Auto Finance Market

KSA Auto Finance Market Evolution and Business Cycle

KSA Auto Finance Market Size, 2018-2021

KSA Auto Finance Market Segmentation, 2021 (By Type of Vehicle Financed, By Tenure of New and Old Vehicles, By Type of Commercial Vehicle, Type of Lending Bank and By Type of Lenders)

Industry Analysis of KSA Auto Finance Services

Decision Making Parameter for Selecting Car Loan Vendor

Trends and Developments in KSA Auto Finance Industry

SWOT Analysis of KSA Auto Finance Industry

Issues and Challenges in KSA Auto Finance Industry

Government policies affecting the KSA Auto finance Industry

Covid-19 Impact on the KSA Auto Finance Industry

Competition Framework for KSA Auto Finance

Future Outlook and Projections of the KSA Auto Finance Market, 2021-2026F

Market Opportunities and Analyst Recommendations

Analyst Recommendations

Research Methodology

For more information on the research report, refer to below link:-

KSA Auto Finance Market

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Singapore Auto Finance Market Outlook to 2025 (Edition II) – Driven by exorbitant Car Prices, Growing Digital Penetration and evolving Vehicle Ownership Characteristics amidst Systemically Regulated Car Ownership Policies by the Government

Philippines Auto Finance Market Outlook to 2024- Growing Prominence of Captive Finance and Surge in Used Car Sales Supporting Disbursement for Auto Loans

Contact Us:-
Ken Research
Ankur Gupta, Head Marketing & Communications
Support@kenresearch.com
+91-9015378249