As per Volza’s Indonesia Import data, Battery lithium import shipments in Indonesia stood at 18K, imported by 857 Indonesia Importers from 1,226 Suppliers. Indonesia imports most of its Battery lithium from China, Vietnam and South Korea .
Upcoming battery manufacturing facilities and increasing demand for electric vehicles are likely to drive the Indonesia 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.
Indonesia Battery Market is poised to grow at a CAGR of 5.6% by 2028. Increase in demand for industrial applications is boosting factor for Indonesia Battery Market Growth.
In addition, the transmission system in Indonesia is vulnerable to black outs,hence battery technology will be needed to support the stability of the electricity infrastructure. Another approach taken by the Indonesian government to reduce the reliance on energy imports, is to accelerate the development of the electric vehicle industry.
Battery Industry in Indonesia Becoming the First Integrated Electric Battery Producer in Southeast Asia President Joko Widodo has officially started the development of Southeast Asia’s first electric vehicle battery factory.
The Indonesian battery market is moderately consolidated. Some of the major key players in the market (not in a particular order) include GS Yuasa Corporation, PT Century Batteries Indonesia, The Furukawa Battery Co. Ltd, PT Motobatt Indonesia, and Contemporary Amperex Technology Co. Limited. Need More Details on Market Players and Competitors?