Indonesia Battery Market Size & Outlook, 2023-2030
Indonesia battery market, 2018-2030 (US$M)
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Indonesia battery market highlights
- The Indonesia battery market generated a revenue of USD 980.4 million in 2023 and is expected to reach USD 4,349.0 million by 2030.
- The Indonesia market is expected to grow at a CAGR of 23.7% from 2024 to 2030.
- In terms of segment, lead acid was the largest revenue generating product in 2023.
- Flow Battery is the most lucrative product segment registering the fastest growth during the forecast period.
Battery market data book summary
| Market revenue in 2023 | USD 980.4 million |
| Market revenue in 2030 | USD 4,349.0 million |
| Growth rate | 23.7% (CAGR from 2023 to 2030) |
| Largest segment | Lead acid |
| Fastest growing segment | Flow Battery |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Lead Acid, Lithium Ion, Nickel-based, Sodium-ion, Flow Battery, Small Sealed Lead-acid Batteries |
| Key market players worldwide | BYD Co Ltd ADR, GS Yuasa Corp, Hitachi Ltd, Johnson Controls International PLC, LG Chem, NEC Corp, Panasonic Holdings Corp, Samsung Electronics Co Ltd, Toshiba Corporation |
Other key industry trends
- In terms of revenue, Indonesia accounted for 0.8% of the global battery market in 2023.
- Country-wise, China is expected to lead the global market in terms of revenue in 2030.
- In Asia Pacific, China battery market is projected to lead the regional market in terms of revenue in 2030.
- Vietnam is the fastest growing regional market in Asia Pacific and is projected to reach USD 3,479.2 million by 2030.
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Battery Market Scope
Battery Market Companies
| Name | Profile | # Employees | HQ | Website |
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Indonesia battery market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to battery market will help companies and investors design strategic landscapes.
Lead acid was the largest segment with a revenue share of 32% in 2023. Horizon Databook has segmented the Indonesia battery market based on lead acid, lithium ion, nickel-based, sodium-ion, flow battery, small sealed lead-acid batteries covering the revenue growth of each sub-segment from 2018 to 2030.
The growing population and the rising income level in Indonesia are driving the demand for consumer electronics such as smartphones, tablets, and smartwatches in the country. This is expected to boost the demand for lithium-ion batteries in Indonesia in the coming years.
Moreover, the surged demand for EVs driven by government incentives and targets to phase out fossil fuel-based vehicles by 2050 is also expected to contribute to the growth of the battery market in the country during the forecast period.
In July 2024, PT HLI Green Power, a joint venture between Battery Corporation of Indonesia and South Korea-based Hyundai Motor Group and LG Energy Solution (LGES), launched its first EV battery plant in Southeast Asia. With a USD 1 billion investment, the plant is expected to produce up to 10 gigawatthours (GWh) of battery cells annually to power 150,000 EVs.
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Horizon Databook provides a detailed overview of country-level data and insights on the Indonesia battery market , including forecasts for subscribers. This country databook contains high-level insights into Indonesia battery market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Indonesia battery market size, by product, 2018-2030 (US$M)
Indonesia Battery Market Outlook Share, 2023 & 2030 (US$M)
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