Asia-Pacific Lithium-ion Battery Market Size (2024 - 2029)

The Asia-Pacific lithium-ion battery market is poised for substantial growth, driven by factors such as the decreasing cost of batteries, the swift adoption of electric vehicles, and the expanding renewable energy sector. Despite challenges like the demand-supply imbalance of raw materials, the market's expansion is supported by the automotive industry's increasing reliance on lithium-ion batteries and the rising adoption of energy storage solutions. China is expected to lead the market due to its rapid urbanization and growth in consumer spending and electric vehicle markets.

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Market Size of Asia-Pacific Lithium-ion Battery Industry

Asia-Pacific Lithium-ion Battery Market - Market Summary
Study Period 2020 - 2029
Base Year For Estimation 2023
Forecast Data Period 2024 - 2029
Historical Data Period 2020 - 2022
CAGR 15.50 %
Market Concentration Low

Major Players

Asia-Pacific Lithium-ion Battery Market Major Players

*Disclaimer: Major Players sorted in no particular order

Asia Pacific Lithium-ion Battery Market Analysis

The Asia-Pacific lithium-ion battery market is expected to register a CAGR of approximately 15.5% during the forecast period. The COVID-19 restrictions negatively impacted the supply of critical raw materials, such as lithium, which witnessed a significant demand drop for batteries in 2020, adversely affecting lithium-ion battery manufacturers in the region. The major factors driving the market include declining lithium-ion battery prices, rapid adoption of electric vehicles, the growing renewable sector, and increased sale of consumer electronics. On the other hand, the demand-supply mismatch of raw materials is likely to hinder the market growth in the coming years.

The automotive sector is expected to be one of the major end-user segments for lithium-ion batteries in the near future. The penetration of electric vehicles is anticipated to provide a massive impetus for the lithium-ion battery industry growth.

A significant fraction of Asia-Pacific's population is estimated to be living without access to electricity and is dependent on conventional fuels, such as kerosene and diesel, for their lighting and mobile phone charging needs. Lithium-ion battery integrated energy storage solutions are likely to witness an increasing rate of adoption due to the technical benefits associated with them and declining lithium-ion battery prices. This, in turn, is expected to create a significant number of opportunities for the Li-ion battery manufacturers in the near future.

China is likely to be the dominant player in the Asia-Pacific lithium-ion battery market, supported by increasing urbanization, consumer spending, and electric vehicle (EV) market growth.

Asia Pacific Lithium-ion Battery Industry Segmentation

The Asia-Pacific lithium-ion battery market report includes:

Application
Automotive Batteries
Industrial Batteries
Consumer Electronics Batteries
Other Applications
Geography
India
China
Japan
South Korea
Rest of Asia-Pacifc
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Asia-Pacific Lithium-ion Battery Market Size Summary

The Asia-Pacific lithium-ion battery market is poised for significant growth, driven by factors such as decreasing battery prices, the rapid adoption of electric vehicles, and the expanding renewable energy sector. The region's market dynamics were initially challenged by COVID-19, which disrupted the supply of essential raw materials like lithium, leading to a temporary decline in demand. However, the automotive sector, particularly the electric vehicle segment, is expected to be a major contributor to market expansion. The increasing penetration of electric vehicles, supported by government policies and incentives, is anticipated to provide substantial momentum to the lithium-ion battery industry. Additionally, the adoption of lithium-ion battery-integrated energy storage solutions is expected to rise, offering opportunities for manufacturers to tap into new markets, especially in areas with limited access to electricity.

China and India are projected to be key players in the Asia-Pacific lithium-ion battery market, with China leading in electric vehicle sales and infrastructure development. The Chinese market is expected to maintain its dominance, supported by extensive government incentives and a robust charging infrastructure. Meanwhile, India is witnessing a surge in local battery manufacturing, driven by government initiatives aimed at promoting e-mobility and achieving a significant electric fleet by 2030. The region's market is characterized by a fragmented landscape with major players like Contemporary Amperex Technology Co. Limited, BYD Co. Ltd, and Samsung SDI Co. Ltd. Recent developments, such as the establishment of battery production facilities in India and Australia, are expected to enhance local manufacturing capabilities, reducing reliance on imports and bolstering market growth prospects.

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Asia-Pacific Lithium-ion 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 Recent Trends and Developments

    4. 1.4 Government Policies and Regulations

    5. 1.5 Market Dynamics

      1. 1.5.1 Drivers

      2. 1.5.2 Restraints

    6. 1.6 Supply Chain Analysis

    7. 1.7 Porter's Five Forces Analysis

      1. 1.7.1 Bargaining Power of Suppliers

      2. 1.7.2 Bargaining Power of Consumers

      3. 1.7.3 Threat of New Entrants

      4. 1.7.4 Threat of Substitute Products and Services

      5. 1.7.5 Intensity of Competitive Rivalry

  2. 2. MARKET SEGMENTATION

    1. 2.1 Application

      1. 2.1.1 Automotive Batteries

      2. 2.1.2 Industrial Batteries

      3. 2.1.3 Consumer Electronics Batteries

      4. 2.1.4 Other Applications

    2. 2.2 Geography

      1. 2.2.1 India

      2. 2.2.2 China

      3. 2.2.3 Japan

      4. 2.2.4 South Korea

      5. 2.2.5 Rest of Asia-Pacifc

Asia-Pacific Lithium-ion Battery Market Size FAQs

The Asia-Pacific Lithium-ion Battery Market is projected to register a CAGR of greater than 15.5% during the forecast period (2024-2029)

Samsung SDI Co. Ltd., Panasonic Corporation , Contemporary Amperex Technology Co Ltd., EnerSys and BYD Co. Ltd. are the major companies operating in the Asia-Pacific Lithium-ion Battery Market.

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