Why Indonesia is a must-do market for LED & LIGHTING Industry?
INDONESIA MARKET UPDATE – ASEAN’S Most Potential Lighting Market
Indonesia with over 270 million population and becomes one of the top 10 largest manufacturing nations in the world, defined by output. With the positive outlook for property, the rising middle class and electrification ratio will increase number consumption of LED lights in future. In 2019, the LED light market grew rapidly with sales of more than 343 million units and is predicted to continue to increase to one billion units in 2030.
According to IMARC Group, the market for LED light is expected to grow at a CAGR of around 21% during 2021-2026. Currently, the Ministry of Energy and Mineral Resources together with the United Nations Development Program (UNDP) and the United Nations Environment Program (UNEP) compiled a roadmap for the development of LED (light-emitting diode) lighting. And currently working with the Research and Development Center for Electricity Technology, New Energy, Renewable Energy and Energy Conservation (P3TKEBTKE) to implement the Advancing Indonesia’s Lighting Market to High Efficient Technologies (ADLIGHT) project to increase the competitiveness of the domestic LED lighting industry.
The use of high-efficiency LED lamps will contribute greatly to the achievement of the government’s commitment to net-zero emissions in the energy sector.