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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