INDONESIA – ASEAN’s Largest and Most Potential Lighting Market
Indonesia with over 260 million of populations and becomes one of the top 10 largest manufacturing nations in the world, defined by output. Manufacturer sector has recorded 6-7% growth annually for several years and is becoming the backbone of the Indonesian economy. Indonesian lighting market is projected to grow robust rate in future, along with the growth of manufacturer and property sector and the increase in electrification ratio.
– Ratio Electrification (2019) = 99%
– Ratio Electrification Target 2020 = 100%
– Customer PLN (2019) = 75 million housing
With the positive outlook for property, rising middle class and electrification ratio will increase number consumption of LED lighting in future. According to Infoholic Research, Indonesia’s LEDs market is expected to grow at a CAGR of 21.5% during the forecast period to reach $1.85 billion by 2022.
The lighting segment is expected to contribute the largest growth towards the LED market and is expected to be driven by the government initiatives, decreasing LED prices, and investments from multinational players in the Indonesian market.