Market Size of Indonesia Battery Industry
| Study Period | 2020-2029 |
| Base Year For Estimation | 2023 |
| Market Size (2024) | USD 233.20 Million |
| Market Size (2029) | USD 454.94 Million |
| CAGR (2024 - 2029) | 14.30 % |
| Market Concentration | Medium |
Major Players.webp "Indonesia Battery Market Major Players")
*Disclaimer: Major Players sorted in no particular order |
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Indonesia Battery Market Analysis
The Indonesia Battery Market size is estimated at USD 233.20 million in 2024, and is expected to reach USD 454.94 million by 2029, growing at a CAGR of greater than 14.30% during the forecast period (2024-2029).
- Over the medium period, the easy availability of raw materials, an increase in demand for industrial applications, and the automotive sector are expected to drive the Indonesia battery market. In addition, the growing population and increasing sales of consumer electronics, such as mobile phones, laptops, etc., are likely to boost the market growth in the country. Upcoming battery manufacturing facilities and increasing demand for electric vehicles are likely to drive the Indonesian battery market during the forecast period.
- On the other hand, recently, the battery market has seen widespread adoption of lithium-ion batteries due to their declining costs and increasing energy density. However, Indonesia does not have significant lithium deposits to exploit and has to rely on imports, which could restrain the market during the forecast period.
- Indonesia has commitments to reduce CO2 emissions by as much as 29% or around 303 million tons by 2030. As carbon emissions and dependency on fossil energy have become major concerns in Indonesia, the introduction of EVs is seen as a possible solution, which is likely to provide significant opportunities for the battery market.
Indonesia Battery Industry Segmentation
An electric battery is an electrical power source consisting of one or more electrochemical cells connected to external connections for powering electrical devices. When a battery supplies power, its positive terminal serves as the cathode, and its negative terminal serves as the anode.
The market is segmented by technology and application. By technology, the market is segmented into lead-acid batteries, lithium-ion batteries, and other technologies. By application, the market is segmented into SLI batteries, industrial batteries [Motive and Stationary (Telecom, UPS, Energy Storage Systems (ESS), etc.)], portable batteries [Consumer Electronics, etc.], automotive batteries [HEV, PHEV, and EV], and other applications. For each segment, the market sizing and forecasts have been done on the basis of revenue.
| Technology | |
| Lithium-ion Battery | |
| Lead-acid Battery | |
| Other Technologies |
| Application | |
| SLI Batteries | |
| Industrial Batteries (Motive, Stationary (Telecom, UPS, Energy Storage Systems (ESS), etc.) | |
| Portable Batteries (Consumer Electronics, etc.) | |
| Automotive Batteries (HEV, PHEV, and EV) | |
| Other Applications |
Indonesia Battery Market Size Summary
The Indonesian battery market is poised for significant growth over the forecast period, driven by factors such as the increasing demand for industrial applications and the automotive sector. The rise in consumer electronics sales, including mobile phones and laptops, further fuels this expansion. The government's commitment to reducing carbon emissions and the push towards electric vehicles (EVs) present substantial opportunities for the battery market. Despite the challenges posed by the reliance on imported lithium for lithium-ion batteries, the segment is expected to grow due to its advantages in energy density and recharging capabilities. The government's ambitious renewable energy targets and initiatives to attract foreign investments, such as Tesla's planned investment in battery materials manufacturing, are likely to bolster the market's growth.
The market is witnessing a surge in investments, particularly in battery manufacturing facilities, as Indonesia aims to become a leader in the global EV battery industry. Collaborations and partnerships, such as those between REPT Battero and POWIN, highlight the country's strategic efforts to enhance its battery production capabilities. The increasing sales of electric vehicles and the government's efforts to develop an electric vehicle supply chain further underscore the market's potential. Key players in the moderately consolidated market include GS Yuasa Corporation, PT Century Batteries Indonesia, and Contemporary Amperex Technology Co. Limited, among others. These developments, coupled with strategic investments and partnerships, are expected to drive the Indonesian battery market forward during the forecast period.
Indonesia Battery Market Size - Table of Contents
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1. MARKET OVERVIEW
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1.1 Introduction
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1.2 Market Size and Demand Forecast in USD, till 2029
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1.3 Recent Trends and Developments
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1.4 Government Policies and Regulations
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1.5 Market Dynamics
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1.5.1 Drivers
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1.5.1.1 Growing population and increasing sales of consumer electronics
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1.5.1.2 Increase in demand for industrial applications, and the automotive sector
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1.5.2 Restraints
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1.5.2.1 Lack of significant lithium deposits
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1.6 Supply Chain Analysis
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1.7 PESTLE Analysis
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2. MARKET SEGMENTATION
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2.1 Technology
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2.1.1 Lithium-ion Battery
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2.1.2 Lead-acid Battery
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2.1.3 Other Technologies
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2.2 Application
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2.2.1 SLI Batteries
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2.2.2 Industrial Batteries (Motive, Stationary (Telecom, UPS, Energy Storage Systems (ESS), etc.)
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2.2.3 Portable Batteries (Consumer Electronics, etc.)
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2.2.4 Automotive Batteries (HEV, PHEV, and EV)
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2.2.5 Other Applications
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Indonesia Battery Market Size FAQs
How big is the Indonesia Battery Market?
The Indonesia Battery Market size is expected to reach USD 233.20 million in 2024 and grow at a CAGR of greater than 14.30% to reach USD 454.94 million by 2029.
What is the current Indonesia Battery Market size?
In 2024, the Indonesia Battery Market size is expected to reach USD 233.20 million.
