Indonesia Electric Two Wheeler Market to Grow at a Double Digit Growth Rate During Forecast Period
Growing concerns regarding
rising greenhouse gas emission levels coupled with increasing price
competitiveness of electric two wheelers to drive electric two wheeler market
of Indonesia
According
to TechSci Research report, “Indonesia Electric Two Wheeler Market, By Vehicle Type
(Electric Motorcycle and Electric Scooters/Mopeds), By Battery Capacity (<25
Ah and >25 Ah), By Battery Type (Lead Acid and Li-ion), Competition,
Forecast & Opportunities, 2024”, the Indonesia electric two wheeler market is anticipated
to grow at brisk rate on account of increasing GHG emissions and growing
concerns related to surging pollution level. High population density in the country
and rising urbanization is further contributing towards the growing demand for
two-wheelers in the country. Furthermore, technological advancements in
batteries of electric vehicle is positively impacting the growth of the market
until 2024.
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Indonesia
electric two wheeler market can be segregated based on vehicle type, battery
capacity, battery type and region. Based on vehicle type, electric moped or
scooter is expected to account for the largest share on the back of their maneuverability,
rising number of female riders and growing purchasing power. In terms of
battery capacity, less than 25 Ah is the dominant segment as majority of
electric vehicle models present in the market are having battery of less than
25 Ah.
Major companies operating in the economy
include Zero Motorcycles Inc., Segway, Inc., Viar Motor Indonesia, Dongguan
Tailing Electric Vehicle Co., Ltd., Shandong Incalcu Electric Vehicle Co., Ltd,
Xiaomi Corp., PT Wijaya Karya Tbk, among others. Companies operating in the
market are using strategies such as new product launches and reduced charging
time to increase their share in the market. Other strategies for increasing
penetration in the market include mergers and acquisitions. For
instance, in 2018, PT Wijaya Karya Tbk, a collaboration between Gesits and
Wijaya Karya Industri dan Konstruksi, announced to produce 60,000 electric
motorcycle starting from 2019.
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“The electric two wheeler market in Indonesia is expected to grow at a double
digit growth rate on account of increasing affordability of electric two
wheelers being provided by leading automobile manufacturers, growing
distributor & dealership network and surging demand to curb pollution
levels in the country. Moreover, ongoing research and development activities
and inclination of government for promoting domestic electric vehicles are
expected to result in a wide product portfolio of these vehicles, which is
further projected to consequently drive the market until 2024.” said Mr. Karan
Chechi, Research Director with TechSci Research, a research based global
management consulting firm.
“Indonesia Electric Two Wheeler
Market, By Vehicle Type (Electric Motorcycle and Electric Scooters/Mopeds), By
Battery Capacity (<25 Ah and >25 Ah), By Battery Type (Lead Acid and
Li-ion), Competition, Forecast & Opportunities, 2024” has analyzed the potential of Indonesia
electric two wheeler market
across the country, and provides statistics and information on market sizes,
shares and trends. The report will suffice in providing the intending clients
with cutting-edge market intelligence and help them in taking sound investment
decisions. Besides, the report also identifies and analyzes emerging trends
along with essential drivers and key challenges faced by Indonesia electric two
wheeler market.
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