Indonesia Light Emitting Diodes market Expected to Grow at a CAGR of 21.5% during the forecast period to reach $1.85 billion by 2022 By Valuates Reports
Indonesia is one of the countries with rich resources but lesser industrialization. The increasing industrialization of Indonesia is demanding more and more power in already power deficit economy with low electrification rate.
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Light Emitting Diodes (LEDs) based lighting, which needs 30–90% less electricity as compared to other lighting sources, is being promoted as a product to reduce the power requirement. The economic growth and urbanization are expected to further increase the pressure on existing infrastructure, demanding higher power requirements.
Thus, growing power deficit is in turn expected to fuel the market growth for LED based products in the Indonesian market.
The study of Indonesia LEDs market provides the market size information and market trends along with the factors and parameters impacting in both short and long term. The study also covers the competitive scenario of the market with respect to the raw material availability, major players with their branding strategies and differentiating factors among others.
The study ensures a 360° view, bringing out the complete key insights of the industry. These insights help the business decision makers to make better business plans and informed decisions for the future business. In addition, the study helps the venture capitalist in understanding the companies better and take informed decisions.
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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.
Growing trade relation between Indonesia and China in LED market is expected to be helpful for domestic producers in LEDs procurement. Many multinational companies have invested in Indonesia and government is expected to support domestic production during the forecast period.
Some of the prominent players in Indonesian LED market are LeKise International, Mouser Electronics, Solarens Ledindo, PT Philips Indonesia, and PT OSRAM Indonesia.
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