Indonesia: Market for Solar Cells and Light-Emitting Diodes 2025

Market Size for Solar Cells and Light-Emitting Diodes in Indonesia

The Indonesian market for solar cells and light-emitting diodes expanded sharply to $X in 2022, rising by 5% against the previous year. Overall, the total consumption indicated measured growth from 2012 to 2022: its value increased at an average annual rate of +4.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -0.4% against 2020 indices. Over the period under review, the market reached the peak level at $X in 2020; afterwards, it flattened through to 2022.

Production of Solar Cells and Light-Emitting Diodes in Indonesia

In value terms, solar cells and light-emitting diodes production expanded slightly to $X in 2022 estimated in export price. In general, the total production indicated a perceptible expansion from 2012 to 2022: its value increased at an average annual rate of +3.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -3.1% against 2020 indices. The growth pace was the most rapid in 2018 with an increase of 34%. Over the period under review, production hit record highs at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Exports of Solar Cells and Light-Emitting Diodes

Exports from Indonesia

In 2022, overseas shipments of solar cells and light-emitting diodes increased by 11% to X units, rising for the third consecutive year after two years of decline. Overall, exports recorded a moderate increase. The most prominent rate of growth was recorded in 2017 with an increase of 268% against the previous year. As a result, the exports attained the peak of X units. From 2018 to 2022, the growth of the exports failed to regain momentum.

In value terms, solar cells and light-emitting diodes exports soared to $X in 2022. Over the period under review, exports enjoyed a prominent increase. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

The United States (X units) was the main destination for solar cells and light-emitting diodes exports from Indonesia, accounting for a 90% share of total exports. It was followed by Singapore (X units), with a 2% share of total exports. The third position in this ranking was taken by the Netherlands (X units), with a 1.9% share.

From 2012 to 2022, the average annual growth rate of volume to the United States stood at +150.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Singapore (-25.8% per year) and the Netherlands (+173.0% per year).

In value terms, the largest markets for solar cells and light-emitting diodes exported from Indonesia were the United States ($X), Singapore ($X) and the Netherlands ($X), together accounting for 69% of total exports.

In terms of the main countries of destination, the Netherlands, with a CAGR of +209.8%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average export price for solar cells and light-emitting diodes stood at $X per unit in 2022, rising by 96% against the previous year. Overall, the export price continues to indicate a buoyant increase. The growth pace was the most rapid in 2018 an increase of 186%. Over the period under review, the average export prices attained the peak figure in 2022 and is expected to retain growth in the immediate term.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was the Philippines ($X per unit), while the average price for exports to Germany ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the Philippines (+43.9%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Solar Cells and Light-Emitting Diodes

Imports into Indonesia

In 2022, purchases abroad of solar cells and light-emitting diodes increased by 36% to X units, rising for the second consecutive year after two years of decline. Overall, imports saw a strong increase. The growth pace was the most rapid in 2018 with an increase of 58%. Over the period under review, imports hit record highs in 2022 and are expected to retain growth in the immediate term.

In value terms, solar cells and light-emitting diodes imports soared to $X in 2022. In general, imports, however, continue to indicate a abrupt shrinkage. The pace of growth appeared the most rapid in 2017 with an increase of 28%. Over the period under review, imports hit record highs at $X in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, China (X units) was the main supplier of solar cells and light-emitting diodes to Indonesia, with a 93% share of total imports. It was followed by Singapore (X units), with a 2.1% share of total imports. Vietnam (X units) ranked third in terms of total imports with a 1.6% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China stood at +23.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Singapore (-0.0% per year) and Vietnam (+84.7% per year).

In value terms, China ($X) constituted the largest supplier of solar cells and light-emitting diodes to Indonesia, comprising 55% of total imports. The second position in the ranking was taken by Japan ($X), with a 14% share of total imports. It was followed by Singapore, with a 7.5% share.

From 2012 to 2022, the average annual rate of growth in terms of value from China stood at +8.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (-15.7% per year) and Singapore (-8.1% per year).

Import Prices by Country

In 2022, the average import price for solar cells and light-emitting diodes amounted to $X per unit, shrinking by -15.1% against the previous year. Over the period under review, the import price saw a abrupt decrease. The pace of growth was the most pronounced in 2016 when the average import price decreased by -3%. The import price peaked at $X per unit in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Japan ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by South Korea (-3.2%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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