Indonesia Electric Two-Wheeler Market to Grow During the Forecast Period

Rising awareness among people for the environment concerns and government initiative towards the zero emission, is driving the Indonesia Electric Two-Wheeler Market.

According to TechSci Research report, “Indonesia Electric Two-Wheeler Market –By Region, Competition Forecast and Opportunities, 2018-2028F”, Indonesia electric two-wheeler market is projected to grow during the forecasted period, owing to the rising concerns for the environment and the battery range offered by the electric two-wheeler, which is higher than the ICE two-wheeler. The government of Indonesia and local automobile manufacturers have made an agreement which is forecasted to reduce the manufacturing of internal combustion of automobiles and boost the adoption of electric automobiles, including two-wheelers. Furthermore, the automotive manufacturers provide electric two-wheelers with added benefits like different color number plates for easy identification, preferential treatment in parking lots, free entry in congested zones, concessional toll charges, etc. Backed by these government efforts, demand for electric two-wheelers is anticipated to grow during the forecast period, consequently driving the Indonesia electric two-wheeler market.

Economic ownership of electric two-wheelers is considered as one of the biggest selling points for electric two-wheelers. Although the cost of the electric two-wheeler can itself be the same, and sometimes even more expensive than their diesel/petrol powered counterpart, the total cost of ownership comes out to be significantly less. The major reason behind the low total cost of ownership of an electric motorcycle is the surging prices of diesel and petrol. Charging cost for an electric two-wheeler is cheaper compared to the ICE two-wheeler refueling price for the same distance travel. 

For the same distance travelled, the charging cost is comparatively cheaper than the fuel cost, as a result total cost of ownership of the electric two-wheeler decreases dramatically for longer span of time. Moreover, total savings depends on the specific model of two-wheeler a person buys, and which diesel/petrol powered motorcycle one is comparing with. However, in all cases, the cost of refueling the traditional two-wheeler is higher compared to the cost of refueling the electric two-wheeler. Customers looking to purchase new electric two-wheeler must contend with a price disparity of approximately IDR 5 m to IDR 11 m compared to comparable ICE two-wheeler models.

Electric two-wheelers currently cost more to finance than ICE two-wheeler, with one popular electric two-wheeler model requiring a down payment equal to 16% of the total price as opposed to 14% for a similar ICE model. According to one manufacturer, "Electric two-wheelers have higher down payments and monthly payments required, primarily due to risks with battery residual value." Due to high upfront capital expenditure (CAPEX) requirements and low domestic demand, the local electric vehicle manufacturing base in Indonesia continues to be underdeveloped.

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The electric motorcycles are gaining popularity In Indonesia as people are becoming more concerned about climate change as electric motorcycles are environment friendly. All the electric motorcycles come with fewer moving parts so there is no need of changing oil in electric motorcycles. Nowadays, people are more concerned about the environment and hence they are more attracted towards the vehicle that produces less emission of CO2. All the electric vehicles come with zero tailpipe emissions but they’re not 100% emissions-free. The electric vehicle and the plug-in hybrids produce fewer polluting emissions over their lifetimes than fuel-powered motorcycle.

Key market players in the Indonesia Electric Two-Wheeler Market include:

·         Shandong Incalcu Electric Co., Ltd

·         PT Smoot Motor Indonesia 

·         Zero Motorcycle, Inc

·         Segway Inc

·         Selis (PT Juara Bike 

·         Niu Indonesia

·         Garansindo Electric Scooter ITS

·         Volta Indonesia Semesta

·         Segway Inc

·         Yadea Technology Group Co. Ltd.

Due to rising internet penetration, online sales of electric two-wheelers have increased across Indonesia, due to various prosperities such as brand and price comparison, fast delivery, and high discount offers. Therefore, many companies across the Indonesia market are now selling electric two-wheelers via online sales channel to expand their business. Thus, these initiatives taken by the electric two-wheeler manufacturing companies are fueling the growth of electric two-wheelers across the country.

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“The Indonesia electric two-wheeler market is projected to grow during the forecasted period, owing to the rising awareness among buyers about the increasing environment concerns. People in Indonesia are preferring to buy electric two-wheeler as it offers more range on single charge. Also, the cost of charging an electric two-wheeler vehicle is cheaper compared to the cost of 1litre petrol in the country. The government of Indonesia is also providing incentives for the purchase of the electric two-wheeler, which is further driving the market of electric two-wheeler in the country." said Mr. Karan Chechi, Research Director with TechSci Research, a research-based global management consulting firm.

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