Estimated Reading Time: 1 minutes
The Indonesian Motorcycle Market is the third largest market in the world with sales of over 6 million units in 2019 and the Indonesian Electric Two-Wheeler Market is also forecast to witness double digit growth rate until 2025. However, high charging time can hinder the growth of the market. Additionally, the increasing online sales of electric vehicles coupled with growing domestic manufacturing would further steer growth in the Indonesian Electric Two-Wheeler Market during the next five years says the report of ResearchAndMarkets.com.
As of 2020, the country has witnessed low sales of electric two-wheeler mainly due to novel COVID-19; however, government support in the form of incentives and schemes aimed at encouraging manufacturing of electric vehicles, will drive the Indonesian Electric Two-Wheeler Market through 2025.
The Indonesian Electric Two-Wheeler Market can be segregated based on vehicle type, battery capacity, battery type, region and company. In terms of battery type, the market can be bifurcated into lithium ion and lead acid. Lead acid battery is expected to dominate the market until 2025 due to its cost effectiveness; however, the other battery type, i.e. lithium ion or Li-ion is expected to witness the significant demand due to low charging time when compared with its lead acid counterpart.
Based on vehicle type, electric moped or scooters dominated the market and the trend is likely to continue in the coming years as well. This is due to growing number of female drivers and maneuverability offered by moped or scooters.
Major companies operating in the Indonesian Electric Two-Wheeler Market 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. The companies operating in the market are focusing on launching new products with increased speed and low charging time so as to increase their share in the market.