Electric Bicycles - Indonesia

Indonesia

Revenue in the Electric Bicycles market in Indonesia is forecasted to reach €149.90m in 2024.
The revenue is anticipated to demonstrate an annual growth rate (CAGR 2024-2029) of 5.98%, leading to a projected market volume of €200.40m by 2029.
Unit sales in the Electric Bicycles market are expected to hit 288.20k bicycles in 2029.
The volume weighted average price of Electric Bicycles market in the market in Indonesia in 2024 is expected to be €0.71k.
Internationally, it is evident that the highest revenue will be generated China, amounting to €10,720m in 2024.
In Indonesia, the Electric Bicycles market is experiencing a surge in demand driven by environmentally conscious consumers and government incentives.

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Analyst Opinion

The Electric Bicycles Market in Indonesia is seeing minimal growth, impacted by factors such as limited infrastructure, lack of awareness, and high upfront costs. Despite this, the market is expected to grow due to increasing environmental concerns and government initiatives to promote sustainable transportation.

Customer preferences: The increasing awareness of environmental sustainability and the rising popularity of eco-friendly transportation options have resulted in a growing demand for electric bicycles in Indonesia. Additionally, the convenience and cost-effectiveness of electric bicycles have made them a preferred mode of transportation for daily commuters. This trend is further driven by the growing urbanization and traffic congestion in major cities, leading to a shift towards more efficient and environmentally friendly transportation solutions.

Trends in the market: In Indonesia, the Electric Bicycles Market within the Bicycles Market is experiencing a surge in demand due to the increasing awareness of environmental sustainability and the need for efficient transportation options. This trend is expected to continue as the government promotes the use of electric vehicles and invests in infrastructure to support them. Additionally, there is a growing trend of using mobile apps to rent and unlock electric bicycles, making them more accessible and convenient for consumers. These developments have significant implications for industry stakeholders, as they open up opportunities for partnerships and collaborations to tap into this growing market.

Local special circumstances: In Indonesia, the Electric Bicycles Market is seeing growth due to the country's dense population and traffic congestion issues. The government's efforts to promote sustainable transportation and reduce pollution have also contributed to the market's growth. Additionally, the unique geography of the archipelago has led to the popularity of electric bicycles as a mode of transportation for short, daily commutes.

Underlying macroeconomic factors: The Electric Bicycles Market within the Bicycles Market in Indonesia is also affected by macroeconomic factors such as government policies, economic stability, and consumer purchasing power. The country's stable economic growth and rising middle-class population have led to an increase in disposable income, making electric bicycles more affordable and desirable. Furthermore, the government's push for sustainable transportation and efforts to reduce carbon emissions have also contributed to the growth of the electric bicycles market in Indonesia. However, challenges such as high import tariffs and limited infrastructure for charging stations may hinder market growth.

Methodology

Data coverage:

The data encompasses B2C enterprises. Figures are based on the sales of electric bicycles and the respective average prices for bicycles.

Modeling approach:

Market sizes are determined through a Bottom-Up approach, building on specific predefined factors for each market. As a basis for evaluating markets, we use publications of industry associations, expert blogs, and data provided by governments and scientific institutions. In addition, we use relevant key market indicators and data from country-specific associations, such as GDP, population, and consumer spending per capita (based on current prices). This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the ARIMA time series forecast and forecasts based on previous growth rates are well suited for forecasting the future demand for bicycles due to the brick and mortar nature of this market. The main drivers are GDP, consumer spending per capita, and population.

Additional notes:

The data is modeled using current exchange rates. The market is updated once a year. In some cases, the data is updated on an ad hoc basis (e.g., when new, relevant data has been released or significant changes within the market have an impact on the projected development).