Asia-pacific Battery Market Forecast 2024-2032

The Asia-Pacific battery market is evaluated to develop with a CAGR of 17.36% over the forecasted years. The base year regarded for the market studied is 2023, and the forecasting period is from 2024 to 2032.

MARKET INSIGHTS

The market growth in the Asia-Pacific region is driven by the rising adoption of electric vehicles, advancements in renewable energy, and the introduction of high-quality energy and power storage technologies. However, the market faces challenges due to ineffective battery recycling and reuse practices, as well as inadequate charging infrastructure.

REGIONAL INSIGHTS

The Asia-Pacific battery market growth assessment covers the study of Australia & New Zealand, Thailand, Malaysia, South Korea, India, Japan, China, and Rest of Asia-Pacific. The battery market is being significantly bolstered by the rapidly developing renewable energy sector, the expanding automotive industry, and the increasing sales of consumer electronics, particularly in emerging nations such as China. As one of the largest automotive sectors worldwide, the country's passenger cars market unit sales are projected to reach approximately 22.39 million vehicles by the year 2028. This impressive manufacturing volume is set to position China as the leader in global passenger car production. Besides, one in every four passenger vehicles manufactured globally originates from China.

Furthermore, in April 2024, Banpu NEXT, a prominent Smart Energy Solutions provider in the Asia-Pacific, and Durapower, a global leader in high-performance lithium battery storage solutions, announced the successful delivery of the first battery pack to Thailand's largest bus operator, Cherdchai Motors Sales. This marks a significant advancement in promoting the e-bus market and heavy-duty vehicle industry across Thailand and the broader Asia-Pacific region.

Japan has also made substantial strides in battery technologies and battery electric vehicles. Aligning with this, in 2022, Toyota launched the bZ4X sport utility vehicle (SUV), its first mass-produced battery-electric car. That same year, Nissan introduced its second battery-electric vehicle model, the Ariya SUV. Ongoing research and development, along with advancements in battery chemistries, are expected to create significant growth opportunities, particularly in terms of battery adoption and application.

On the other hand, the growth of India's battery market is being bolstered by several key drivers, including the increased adoption of electric vehicles and the overall expansion of the automotive industry. The Indian government is actively promoting the use of electric vehicles, recognizing their crucial role in achieving the UN Sustainable Development Goals. As the demand for clean energy sources rises, the adoption of electric vehicles is expected to increase significantly. The government aims to achieve a 30% electric vehicle adoption rate by 2030, focusing primarily on the electrification of two-wheelers, three-wheelers, and commercial vehicles. This shift will necessitate advanced batteries, thereby stimulating market growth in the Asia-Pacific.

SEGMENTATION ANALYSIS

The Asia-Pacific battery market is segmented into type, technology, and application. The application category is further classified into automotive batteries, portable batteries, SLI batteries, industrial batteries, power tools batteries, and other applications. Automotive batteries are utilized for powering the electrical systems of vehicles when the engine is turned off. It is also used to start the engine, delivering current for the ignition system as well as the electric starter motor.

On the other hand, the industrial applications of batteries entail telecommunication, road signs, forklifts with extra material handling equipment, energy storage, security, emergency lighting, uninterrupted power supplies, medical, and control and switchgear.

COMPETITIVE INSIGHTS

Some of the prominent companies operating in the Asia-Pacific battery market are GS Yuasa International Ltd, LG Chem Ltd, Panasonic Corporation, etc.

LG Chem Ltd, headquartered in Seoul, South Korea, is one of the largest Korean chemical companies. The company's three major business areas include basic materials and chemicals, energy solutions, and information technology and electronics materials.

Its specialties include NCC, PO, PVC & plasticizer, ABS, advanced materials, petrochemicals, acrylates & SAP, semiconductor materials, display materials, rubbers & specialty polymers, automotive materials, life sciences, pharmaceuticals, vaccines, diagnostics, battery materials, water treatment materials, aesthetics, and fine chemicals.

Product Code: 89646

1. RESEARCH SCOPE & METHODOLOGY

1.1. STUDY OBJECTIVES
1.2. METHODOLOGY
1.3. ASSUMPTIONS & LIMITATIONS

2. EXECUTIVE SUMMARY

2.1. MARKET SIZE & ESTIMATES
2.2. MARKET OVERVIEW
2.3. SCOPE OF STUDY
2.4. CRISIS SCENARIO ANALYSIS
- 2.4.1. IMPACT OF COVID-19 ON THE BATTERY MARKET
2.5. MAJOR MARKET FINDINGS
- 2.5.1. ESCALATING DEVELOPMENTS IN LITHIUM-ION BATTERY TECHNOLOGY
- 2.5.2. GOVERNMENT INITIATIVES AND POLICIES PROMOTING CLEAN ENERGY AND ELECTRIC MOBILITY
- 2.5.3. GROWING EV MANUFACTURING

3. MARKET DYNAMICS

3.1. KEY DRIVERS
- 3.1.1. GROWING DEMAND FOR PORTABLE ELECTRONICS
- 3.1.2. INCENTIVES FOR EV BATTERY MANUFACTURING
- 3.1.3. HIGH DEMAND FOR AUTOMOTIVE APPLICATIONS, ESPECIALLY FROM ELECTRIC VEHICLES
3.2. KEY RESTRAINTS
- 3.2.1. SAFETY ISSUES RELATED TO BATTERY USAGE
- 3.2.2. VOLATILITY IN RAW MATERIAL PRICES
- 3.2.3. ISSUES RELATED TO BATTERY RECYCLING

4. KEY ANALYTICS

4.1. KEY MARKET TRENDS
- 4.1.1. TECHNOLOGICAL ADVANCEMENTS IN BATTERY TECHNOLOGIES
- 4.1.2. GROWING FOCUS ON SECOND-LIFE BATTERY APPLICATIONS
- 4.1.3. RISING DEMAND FOR LARGER BATTERY PACKS
4.2. PORTER'S FIVE FORCES ANALYSIS
- 4.2.1. BUYERS POWER
- 4.2.2. SUPPLIERS POWER
- 4.2.3. SUBSTITUTION
- 4.2.4. NEW ENTRANTS
- 4.2.5. INDUSTRY RIVALRY
4.3. GROWTH PROSPECT MAPPING
- 4.3.1. GROWTH PROSPECT MAPPING FOR ASIA-PACIFIC
4.4. MARKET CONCENTRATION ANALYSIS
4.5. REGULATORY FRAMEWORK
4.6. VALUE CHAIN ANALYSIS
- 4.6.1. RAW MATERIAL
- 4.6.2. MANUFACTURING & ASSEMBLY
- 4.6.3. DISTRIBUTION
- 4.6.4. END-USER APPLICATIONS
- 4.6.5. AFTER-SALES SERVICES
- 4.6.6. RECYCLING
4.7. KEY BUYING CRITERIA
- 4.7.1. ENERGY DENSITY
- 4.7.2. BATTERY MEMORY
- 4.7.3. LIFETIME
- 4.7.4. DURABILITY

5. MARKET BY TYPE

5.1. PRIMARY BATTERY
- 5.1.1. MARKET FORECAST FIGURE
- 5.1.2. SEGMENT ANALYSIS
5.2. SECONDARY BATTERY
- 5.2.1. MARKET FORECAST FIGURE
- 5.2.2. SEGMENT ANALYSIS

6. MARKET BY TECHNOLOGY

6.1. LEAD-ACID BATTERY
- 6.1.1. MARKET FORECAST FIGURE
- 6.1.2. SEGMENT ANALYSIS
6.2. LITHIUM-ION BATTERY
- 6.2.1. MARKET FORECAST FIGURE
- 6.2.2. SEGMENT ANALYSIS
6.3. NICKEL-CADMIUM BATTERY
- 6.3.1. MARKET FORECAST FIGURE
- 6.3.2. SEGMENT ANALYSIS
6.4. NICKEL METAL HYDRIDE BATTERY
- 6.4.1. MARKET FORECAST FIGURE
- 6.4.2. SEGMENT ANALYSIS
6.5. NICKEL-ZINC (NIZN) BATTERY
- 6.5.1. MARKET FORECAST FIGURE
- 6.5.2. SEGMENT ANALYSIS
6.6. FLOW BATTERY
- 6.6.1. MARKET FORECAST FIGURE
- 6.6.2. SEGMENT ANALYSIS
6.7. SODIUM-SULFUR (NAS) BATTERY
- 6.7.1. MARKET FORECAST FIGURE
- 6.7.2. SEGMENT ANALYSIS
6.8. ZINC-MANGANESE DIOXIDE BATTERY
- 6.8.1. MARKET FORECAST FIGURE
- 6.8.2. SEGMENT ANALYSIS
6.9. SMALL SEALED LEAD-ACID BATTERY
- 6.9.1. MARKET FORECAST FIGURE
- 6.9.2. SEGMENT ANALYSIS
6.10. OTHER BATTERIES
- 6.10.1. MARKET FORECAST FIGURE
- 6.10.2. SEGMENT ANALYSIS

7. MARKET BY APPLICATION

7.1. AUTOMOTIVE BATTERIES
- 7.1.1. MARKET FORECAST FIGURE
- 7.1.2. SEGMENT ANALYSIS
7.2. INDUSTRIAL BATTERIES
- 7.2.1. MARKET FORECAST FIGURE
- 7.2.2. SEGMENT ANALYSIS
7.3. PORTABLE BATTERIES
- 7.3.1. MARKET FORECAST FIGURE
- 7.3.2. SEGMENT ANALYSIS
7.4. POWER TOOLS BATTERIES
- 7.4.1. MARKET FORECAST FIGURE
- 7.4.2. SEGMENT ANALYSIS
7.5. SLI BATTERIES
- 7.5.1. MARKET FORECAST FIGURE
- 7.5.2. SEGMENT ANALYSIS
7.6. OTHER APPLICATIONS
- 7.6.1. MARKET FORECAST FIGURE
- 7.6.2. SEGMENT ANALYSIS

8. GEOGRAPHICAL ANALYSIS

8.1. ASIA-PACIFIC
- 8.1.1. MARKET SIZE & ESTIMATES
- 8.1.2. ASIA-PACIFIC BATTERY MARKET DRIVERS
- 8.1.3. ASIA-PACIFIC BATTERY MARKET CHALLENGES
- 8.1.4. KEY PLAYERS IN ASIA-PACIFIC BATTERY MARKET
- 8.1.5. COUNTRY ANALYSIS
  - 8.1.5.1. CHINA
  - 8.1.5.1.1. CHINA BATTERY MARKET SIZE & OPPORTUNITIES
  - 8.1.5.2. JAPAN
  - 8.1.5.2.1. JAPAN BATTERY MARKET SIZE & OPPORTUNITIES
  - 8.1.5.3. INDIA
  - 8.1.5.3.1. INDIA BATTERY MARKET SIZE & OPPORTUNITIES
  - 8.1.5.4. SOUTH KOREA
  - 8.1.5.4.1. SOUTH KOREA BATTERY MARKET SIZE & OPPORTUNITIES
  - 8.1.5.5. THAILAND
  - 8.1.5.5.1. THAILAND BATTERY MARKET SIZE & OPPORTUNITIES
  - 8.1.5.6. MALAYSIA
  - 8.1.5.6.1. MALAYSIA BATTERY MARKET SIZE & OPPORTUNITIES
  - 8.1.5.7. AUSTRALIA & NEW ZEALAND
  - 8.1.5.7.1. AUSTRALIA & NEW ZEALAND BATTERY MARKET SIZE & OPPORTUNITIES
  - 8.1.5.8. REST OF ASIA-PACIFIC
  - 8.1.5.8.1. REST OF ASIA-PACIFIC BATTERY MARKET SIZE & OPPORTUNITIES

9. COMPETITIVE LANDSCAPE

9.1. KEY STRATEGIC DEVELOPMENTS
- 9.1.1. MERGERS & ACQUISITIONS
- 9.1.2. PRODUCT LAUNCHES & DEVELOPMENTS
- 9.1.3. PARTNERSHIPS & AGREEMENTS
- 9.1.4. BUSINESS EXPANSIONS & DIVESTITURES
9.2. COMPANY PROFILES
- 9.2.1. A123 SYSTEMS LLC
  - 9.2.1.1. COMPANY OVERVIEW
  - 9.2.1.2. PRODUCTS
  - 9.2.1.3. STRENGTHS & CHALLENGES
- 9.2.2. BYD COMPANY LTD
  - 9.2.2.1. COMPANY OVERVIEW
  - 9.2.2.2. PRODUCTS
  - 9.2.2.3. STRENGTHS & CHALLENGES
- 9.2.3. DURACELL
  - 9.2.3.1. COMPANY OVERVIEW
  - 9.2.3.2. PRODUCTS
  - 9.2.3.3. STRENGTHS & CHALLENGES
- 9.2.4. GS YUASA INTERNATIONAL LTD
  - 9.2.4.1. COMPANY OVERVIEW
  - 9.2.4.2. PRODUCTS
  - 9.2.4.3. STRENGTHS & CHALLENGES
- 9.2.5. JOHNSON CONTROLS INC
  - 9.2.5.1. COMPANY OVERVIEW
  - 9.2.5.2. PRODUCTS
  - 9.2.5.3. STRENGTHS & CHALLENGES
- 9.2.6. LG CHEM LTD
  - 9.2.6.1. COMPANY OVERVIEW
  - 9.2.6.2. PRODUCTS
  - 9.2.6.3. STRENGTHS & CHALLENGES
- 9.2.7. PANASONIC CORPORATION
  - 9.2.7.1. COMPANY OVERVIEW
  - 9.2.7.2. PRODUCTS
  - 9.2.7.3. STRENGTHS & CHALLENGES
- 9.2.8. SAMSUNG SDI CO LTD
  - 9.2.8.1. COMPANY OVERVIEW
  - 9.2.8.2. PRODUCTS
  - 9.2.8.3. STRENGTHS & CHALLENGES

Product Code: 89646

LIST OF TABLES

TABLE 1: MARKET SNAPSHOT - BATTERY
TABLE 2: ASIA-PACIFIC BATTERY MARKET, BY TYPE, HISTORICAL YEARS, 2018-2022 (IN $ MILLION)
TABLE 3: ASIA-PACIFIC BATTERY MARKET, BY TYPE, FORECAST YEARS, 2024-2032 (IN $ MILLION)
TABLE 4: ASIA-PACIFIC BATTERY MARKET, BY TECHNOLOGY, HISTORICAL YEARS, 2018-2022 (IN $ MILLION)
TABLE 5: ASIA-PACIFIC BATTERY MARKET, BY TECHNOLOGY, FORECAST YEARS, 2024-2032 (IN $ MILLION)
TABLE 6: ASIA-PACIFIC BATTERY MARKET, BY APPLICATION, HISTORICAL YEARS, 2018-2022 (IN $ MILLION)
TABLE 7: ASIA-PACIFIC BATTERY MARKET, BY APPLICATION, FORECAST YEARS, 2024-2032 (IN $ MILLION)
TABLE 8: ASIA-PACIFIC BATTERY MARKET, BY COUNTRY, HISTORICAL YEARS, 2018-2022 (IN $ MILLION)
TABLE 9: ASIA-PACIFIC BATTERY MARKET, BY COUNTRY, FORECAST YEARS, 2024-2032 (IN $ MILLION)
TABLE 10: KEY PLAYERS OPERATING IN ASIA-PACIFIC BATTERY MARKET
TABLE 11: LIST OF MERGERS & ACQUISITIONS
TABLE 12: LIST OF PRODUCT LAUNCHES & DEVELOPMENTS
TABLE 13: LIST OF PARTNERSHIPS & AGREEMENTS
TABLE 14: LIST OF BUSINESS EXPANSIONS & DIVESTITURES

LIST OF FIGURES

FIGURE 1: KEY MARKET TRENDS
FIGURE 2: PORTER'S FIVE FORCES ANALYSIS
FIGURE 3: GROWTH PROSPECT MAPPING FOR ASIA-PACIFIC
FIGURE 4: MARKET CONCENTRATION ANALYSIS
FIGURE 5: VALUE CHAIN ANALYSIS
FIGURE 6: KEY BUYING CRITERIA
FIGURE 7: REGULATORY FRAMEWORK
FIGURE 8: ASIA-PACIFIC BATTERY MARKET, GROWTH POTENTIAL, BY TYPE, IN 2023
FIGURE 9: ASIA-PACIFIC BATTERY MARKET, BY PRIMARY BATTERY, 2024-2032 (IN $ MILLION)
FIGURE 10: ASIA-PACIFIC BATTERY MARKET, BY SECONDARY BATTERY, 2024-2032 (IN $ MILLION)
FIGURE 11: ASIA-PACIFIC BATTERY MARKET, GROWTH POTENTIAL, BY TECHNOLOGY, IN 2023
FIGURE 12: ASIA-PACIFIC BATTERY MARKET, BY LEAD-ACID BATTERY, 2024-2032 (IN $ MILLION)
FIGURE 13: ASIA-PACIFIC BATTERY MARKET, BY LITHIUM-ION BATTERY, 2024-2032 (IN $ MILLION)
FIGURE 14: ASIA-PACIFIC BATTERY MARKET, BY NICKEL-CADMIUM BATTERY, 2024-2032 (IN $ MILLION)
FIGURE 15: ASIA-PACIFIC BATTERY MARKET, BY NICKEL METAL HYDRIDE BATTERY, 2024-2032 (IN $ MILLION)
FIGURE 16: ASIA-PACIFIC BATTERY MARKET, BY NICKEL-ZINC (NIZN) BATTERY, 2024-2032 (IN $ MILLION)
FIGURE 17: ASIA-PACIFIC BATTERY MARKET, BY FLOW BATTERY, 2024-2032 (IN $ MILLION)
FIGURE 18: ASIA-PACIFIC BATTERY MARKET, BY SODIUM-SULFUR (NAS) BATTERY, 2024-2032 (IN $ MILLION)
FIGURE 19: ASIA-PACIFIC BATTERY MARKET, BY ZINC-MANGANESE DIOXIDE BATTERY, 2024-2032 (IN $ MILLION)
FIGURE 20: ASIA-PACIFIC BATTERY MARKET, BY SMALL SEALED LEAD-ACID BATTERY, 2024-2032 (IN $ MILLION)
FIGURE 21: ASIA-PACIFIC BATTERY MARKET, BY OTHER BATTERIES, 2024-2032 (IN $ MILLION)
FIGURE 22: ASIA-PACIFIC BATTERY MARKET, GROWTH POTENTIAL, BY APPLICATION, IN 2023
FIGURE 23: ASIA-PACIFIC BATTERY MARKET, BY AUTOMOTIVE BATTERIES, 2024-2032 (IN $ MILLION)
FIGURE 24: ASIA-PACIFIC BATTERY MARKET, BY INDUSTRIAL BATTERIES, 2024-2032 (IN $ MILLION)
FIGURE 25: ASIA-PACIFIC BATTERY MARKET, BY PORTABLE BATTERIES, 2024-2032 (IN $ MILLION)
FIGURE 26: ASIA-PACIFIC BATTERY MARKET, BY POWER TOOLS BATTERIES, 2024-2032 (IN $ MILLION)
FIGURE 27: ASIA-PACIFIC BATTERY MARKET, BY SLI BATTERIES, 2024-2032 (IN $ MILLION)
FIGURE 28: ASIA-PACIFIC BATTERY MARKET, BY OTHER APPLICATIONS, 2024-2032 (IN $ MILLION)
FIGURE 29: ASIA-PACIFIC BATTERY MARKET, COUNTRY OUTLOOK, 2023 & 2032 (IN %)
FIGURE 30: CHINA BATTERY MARKET, 2024-2032 (IN $ MILLION)
FIGURE 31: JAPAN BATTERY MARKET, 2024-2032 (IN $ MILLION)
FIGURE 32: INDIA BATTERY MARKET, 2024-2032 (IN $ MILLION)
FIGURE 33: SOUTH KOREA BATTERY MARKET, 2024-2032 (IN $ MILLION)
FIGURE 34: THAILAND BATTERY MARKET, 2024-2032 (IN $ MILLION)
FIGURE 35: MALAYSIA BATTERY MARKET, 2024-2032 (IN $ MILLION)
FIGURE 36: AUSTRALIA & NEW ZEALAND BATTERY MARKET, 2024-2032 (IN $ MILLION)
FIGURE 37: REST OF ASIA-PACIFIC BATTERY MARKET, 2024-2032 (IN $ MILLION)