Asia-Pacific Industrial Battery Market Size (2024 - 2029)

The Asia-Pacific industrial battery market is poised for substantial growth, driven by factors such as decreasing lithium-ion battery costs, increased demand from data centers and telecom sectors, and enhanced integration of renewable energy. Despite challenges like fluctuating raw material prices and availability, the market has rebounded to pre-pandemic levels. The focus on advanced battery technologies and the application of artificial intelligence in research and development present significant opportunities for investment and innovation. China is expected to experience notable demand, particularly in grid-side energy storage and telecom industries.

Home Market Analysis Energy & Power Research Battery Research Industrial Battery Research Asia-Pacific Industrial Battery Market Market Size

Market Size of Asia-Pacific Industrial Battery Industry

Market Summary - Asia-Pacific Industrial Battery Market
Study Period 2021 - 2029
Base Year For Estimation 2023
Forecast Data Period 2024 - 2029
Historical Data Period 2021 - 2022
CAGR 9.21 %
Market Concentration Low

Major Players

Asia-Pacific Industrial Battery Market Major Players

*Disclaimer: Major Players sorted in no particular order

APAC Industrial Battery Market Analysis

The Asia-Pacific Industrial Battery Market is expected to grow at a CAGR of over 9.21% during the forecast period.

The market was negatively impacted by COVID-19 in 2020. Presently the market has now reached pre-pandemic levels.

  • Over the long term, declining lithium-ion battery prices, increasing demand from data centers and telecom sectors, and rising renewable energy integration are some of the major factors driving the market.
  • On the other note, factors such as uncertainty in raw material prices and availability of raw materials, such as cobalt, lead, and lithium, are likely to curtail the market growth rate during the forecast period.
  • The rising focus on technologically advanced batteries and the use of artificial intelligence in the R&D phase of battery manufacturing is likely to create a massive opportunity for the battery companies to invest and redirect their resources to make a breakthrough battery technology.
  • China is likely to witness significant demand in the Asia-Pacific industrial battery market, supported by the grid-side energy storage sector and the demand for data center and the telecom industry.

APAC Industrial Battery Industry Segmentation

Industrial batteries are electrochemical devices that convert higher-level active materials into an alternate state during discharge. They are designed to last far longer than consumer batteries and are used in more challenging environments. These batteries are for two general applications: float (or standby) duty and deep cycling (especially traction batteries for forklift trucks, etc.).

The Asia-Pacific Industrial Battery Market report is segmented by technology, application, and geography. By technology, the market is segmented into lithium-ion battery, lead-acid battery, and other technologies (nickel-cadmium battery, nickel metal hydride, zinc-carbon, etc. By application, the market is segmented into forklift, telecom, UPS, and others). The report also covers the market size and forecasts for the Asia-Pacific Industrial Battery market across the major countries in the region. For each segment, the market size and forecasts have been done based on revenue (USD billion).

Technology
Lithium-ion Battery
Lead-acid Battery
Other Technologies (Nickel Cadmium Battery, Nickel Metal Hydride, Zinc Carbon, etc.)
Application
Forklift
Telecom
UPS
Others
Geography
China
India
Japan
Rest of Asia-Pacific
Need A Different Region Or Segment?
Customize Now

Asia-Pacific Industrial Battery Market Size Summary

The Asia-Pacific industrial battery market is poised for significant growth, driven by factors such as declining lithium-ion battery prices, increasing demand from data centers and telecom sectors, and the rising integration of renewable energy sources. The market has rebounded to pre-pandemic levels after the initial negative impact of COVID-19. However, challenges such as uncertainty in raw material prices and availability, particularly for cobalt, lead, and lithium, may hinder growth. The focus on technologically advanced batteries and the incorporation of artificial intelligence in research and development present substantial opportunities for battery companies to innovate and enhance battery technology. China is expected to experience robust demand, supported by its grid-side energy storage sector and the burgeoning data center and telecom industries.

Lithium-ion batteries are anticipated to dominate the industrial battery market due to their favorable capacity-to-weight ratio, better performance, and decreasing costs. The demand for lithium-ion batteries is further bolstered by their application in energy storage systems and the electric vehicle industry, which has seen significant growth in the Asia-Pacific region. The material handling industry is also expected to drive demand for lithium-ion batteries, particularly in logistics and distribution. China, with its substantial natural and human resources, is a key player in the market, supported by government policies and investments in battery manufacturing. The country's focus on renewable energy and energy storage, along with the rapid growth of its electric vehicle market, is expected to continue driving the industrial battery market forward. The market is moderately fragmented, with major players like Exide Industries Ltd, GS Yuasa Corporation, and Panasonic Corporation actively participating in the region's growth.

Explore More

Asia-Pacific Industrial Battery Market Size - Table of Contents

  1. 1. MARKET OVERVIEW

    1. 1.1 Introduction

    2. 1.2 Market Size and Demand Forecast in USD billion, till 2027

    3. 1.3 Battery Price Trends and Forecast in USD per kWh, by Major Technology Type

    4. 1.4 Recent Trends and Developments

    5. 1.5 Government Policies and Regulations

    6. 1.6 Market Dynamics

      1. 1.6.1 Drivers

      2. 1.6.2 Restraints

    7. 1.7 Supply Chain Analysis

    8. 1.8 Porter's Five Forces Analysis

      1. 1.8.1 Bargaining Power of Suppliers

      2. 1.8.2 Bargaining Power of Consumers

      3. 1.8.3 Threat of New Entrants

      4. 1.8.4 Threat of Substitutes Products and Services

      5. 1.8.5 Intensity of Competitive Rivalry

  2. 2. MARKET SEGMENTATION

    1. 2.1 Technology

      1. 2.1.1 Lithium-ion Battery

      2. 2.1.2 Lead-acid Battery

      3. 2.1.3 Other Technologies (Nickel Cadmium Battery, Nickel Metal Hydride, Zinc Carbon, etc.)

    2. 2.2 Application

      1. 2.2.1 Forklift

      2. 2.2.2 Telecom

      3. 2.2.3 UPS

      4. 2.2.4 Others

    3. 2.3 Geography

      1. 2.3.1 China

      2. 2.3.2 India

      3. 2.3.3 Japan

      4. 2.3.4 Rest of Asia-Pacific

Asia-Pacific Industrial Battery Market Size FAQs

The Asia-Pacific Industrial Battery Market is projected to register a CAGR of greater than 9.21% during the forecast period (2024-2029)

Exide Industries Ltd, GS Yuasa Corporation, East Penn Manufacturing Company Inc., Panasonic Corporation and EnerSys are the major companies operating in the Asia-Pacific Industrial Battery Market.

Asia-Pacific Industrial Battery Report Snapshots

Asia-Pacific Industrial Battery Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)