Overview Of EV Market In Indonesia
The total number of electric vehicle sales in Indonesia totaled xx units. This total includes xx hybrid models, xx PHEV units, and xx BEV units. When viewed from the total sales of cars in Indonesia in the first semester of 2021, the interest in the electric vehicle market is at xx% of total cars sold. These figures shows that the Indonesian EV sector is still in its infancy.
The number of 4W Battery Electric Vehicles (BEV) increased from xx in 2018 to xx in 2020 at a CAGR of xx%. Electric Vehicles remain relatively slow during 2021 also because there was a shortage of semiconductor. The decrease in car sales is largely due to the COVID-19 pandemic. On the other hand, around xx Electric Vehicles (EV’s) were sold in Indonesia in 2020.
Overview Of EV Charging Equipment Industry
The revenue of EV Charging Equipment market grew at a CAGR of xx% during 2017 to 2021, witnessing a growth rate of xx% in 2020 from 2019 and xx% in 2021 from 2020.
This tremendous growth is attributed to the rapid urbanization and Private vehicle ownership which has been steadily rising by more than xx% yearly. The number of electric vehicle chargers for SPLKU built by PLN was estimated to be xx in 2021 which grew at a CAGR of xx% during 2019 to 2021.
Competitive Landscape of Industry Players
Currently, the competition in the EV Charging Space in Indonesia is monopolistic in nature, with PLN being designated the responsibility of constructing and monitoring SPKLU’s throughout the country. Private players are looking forward to expanding their operations in Indonesia, but are not doing so due to unaddressed concerns regarding the profitability of EV charging operations, tightly regulated electricity tariffs, etc.
Companies operating public transportation services such as E buses and taxis procure EV chargers from Chinese companies in bulk due to less costs, but the government is trying to promote local manufacturing by imposing compulsory localization requirements for private companies looking to conduct business in Indonesia in the EV sector. A small number of EV charging startups are currently in their trial stages in the country, and it remains to be seen whether they can sufficiently expand their operations and become profitable in the coming years.
Trends In EV Charging Industry In Indonesia
Automotive giants plan to set up factories
Toyota plans to invest around USD xx Billion to develop an EV production plant in Indonesia. Hyundai has similarly committed around USD xx Billion towards producing Ev. Battery companies like Panasonic and LG are planning to set up battery manufacturing plants in Indonesia, covering both the upstream and downstream aspects. Tesla has similar plans to open manufacturing units of their batteries.
Entry of Chinese EV’s causing major disruption
Chinese EV manufacturers including BYD and Wuling plan to sell EV’s through physical stores in Indonesia from around mid-2022, This would have a disruptive effect on the EV market in terms of bringing down the average price of EV’s. Eventually leading to increased adoption and indirectly leading to growth of EV charging infrastructure in Indonesia.
Domestic Battery Industry
One hurdle for Indonesia’s EV development is the nonexistence of a domestic battery industry. Indonesia has posed an export ban of nickel ore since 2020. The ban is hoped to secure the downstream battery industry using nickel ore as a raw material. This ban also hopes to encourage foreign firms and international investors to build all supply chains for nickel-based batteries in the country.
Tax Harmonization Scheme
Government Regulation number 73-year 2019 provides further tax incentives for low-cost green car (LCGC). A series of fiscal incentives are available, from tax allowance and tax holiday to super deductible tax. Acceleration of Battery Electric Vehicle (BEV) for Road Transportation: the provision of charging stations and regulating electricity tariffs for charging electric vehicles keeping the environmental protection view.
Growing Consumer Market
Over 70% of its public are keen to own an electric vehicle which the environmental issue as the most common reason they favour electric-powered vehicle over traditional fossil-fuel ‘driven’ vehicles. In 2019, xx electric passenger vehicles were sold in the country, compared to just one unit sold in the preceding year.
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Future Outlook Of Industry
Indonesia Electric Vehicle Market was valued at USD xx in 2020. Indonesia Electric Vehicle Market size is estimated to grow at a CAGR of xx%. The market is expected to reach a value of USD xx in 2027.With over 22% of the world’s nickel reserves found in Indonesia, the government’s commitment to reduce its emissions (29% by 2030) and a growing public interest towards environment-friendly vehicles. This will really help EV manufactures to grow.
According to Indonesia’s Coordinating Minister for Maritime Affairs and Investment, the country will require up to US$35 billion in investment over the next five to 10 years to develop its EV ecosystem.
All motorcycles sold from 2040 will be electric-powered, while all new cars sold from 2050 will be electric vehicles (EVs). Indonesia aims to reach an adoption of 2.1 million electric motorcycle and 400,000 electric cars – of which 20% are locally manufactured by 2025.
Charging Equipment Revenue is expected to reach USD xx in 2026 with a growth rate of xx from 2025. The revenue generated from 2022 to 2026 is expected to grow at a CAGR of xx%. Among the type of vehicle, 4W is expected to generate the highest revenue of USD xx through new car sales. This high growth is attributed to the changing people’s mindset towards EV’s.
Key Segments Covered in Indonesia EV Charging Equipment Industry
EV Charging Market Size by
Number of charging stations
Indonesia EV Charging Equipment Industry By
Type of Chargers
Type of Charging
Type of Vehicle
Type of Manufacturer
4W Chargers pricing
2W Chargers pricing
Charging Stations pricing
Key Target Audience
EV Charging Equipment Manufacturers
EV Charging System Operator
Demand side Transport Operators
Time Period Captured in the Report:
Historical Period: 2016-2021
Forecast Period: 2022-2026F
EV Charging Equipment Players in Indonesia
Key Topics Covered in the Report: –
Overview of EV Market and EV Charging Equipment Market in Indonesia
Ecosystem of EV Charging Equipment Market in Indonesia
Market Size of EV Charging Equipment Market in Indonesia (Total EV Charging Equipment Revenue)
Indonesia EV Charging Equipment Market Segmentation (By Type of Charging, Type of Chargers, Type of Vehicle, Type of Geography, By Sales Channels)
Cross Comparison of Southeast Asian Countries on EV Adoption and comparison of top players in the EV Charging Equipment Market in Indonesia
Company Profiles of EV Charger Manufacturers (Overview, Products, Business Streams, Manufacturing Capabilities, Distribution Channels, Recent Projects, Cost Structure, and Awards and Recognitions)
Growth Drivers and Challenges to Indonesia EV Charging Equipment Industry
Industry trends and developments
SWOT Analysis of EV Market
Rules and Regulations by Government Bodies
Future Outlook of Industry
Case Study (PLN, EESL, Alfen)
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Related Reports by Ken Research: –
EV Charging Adapter Market by Type (AC Charging Adapter and DC Charging Adapter) and by Application (Battery Electric Vehicle, Plug-In Hybrid Electric Vehicle, and Fuel Cell Electric Vehicle), Global Industry Perspective, Comprehensive Analysis, and Forecast, 2017 – 2024
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Ankur Gupta, Head Marketing & Communications