Market Size of East Asia Battery Industry
| Study Period | 2021 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2021 - 2022 |
| CAGR | 10.20 % |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
East Asia Battery Market Analysis
The East Asia battery market is expected to witness a CAGR of more than 10.2% over the forecast period.
The market was negatively impacted by COVID-19. However, it has now reached pre-pandemic levels.
- Over the medium term, factors such as growing demand from the automotive sector, declining lithium-ion battery prices, and plans to make East Asia a data center hub are expected to drive the market during the forecast period.
- On the other hand, Despite the growing demand for batteries in the automotive, data centers, and telecommunications sectors, the battery energy storage segment is expected to witness stagnant growth as most countries depend on other energy storage alternatives. This, in turn, is likely to hinder the growth of the battery market in the energy storage segment during the forecast period.
- Nevertheless, plans to integrate renewable energy with the national grids in respective countries are expected to create a significant amount of opportunity for lithium-ion battery manufacturers and suppliers in the near future.
- China dominates the market owing to the increasing demand from the automotive and other end-user sectors.
East Asia Battery Industry Segmentation
A battery comprises one or more cells connected in series, parallel, or both ways and is made for a particular output voltage and capacity. Likewise, a cell is an electrochemical component used to produce or store electrical energy in a battery.
The market is segmented by type, end users, and geography. By type, the market is segmented into lead-acid batteries, lithium-ion batteries, and other types. By end users, the market is segmented into automotive, data centers, telecommunication, energy storage, and other end users. The report also covers the market size and forecasts for the East Asia battery market across the major countries in the region. For each segment, the market sizing and forecasts have been done on the revenue (USD Billion).
| Type | |
| Lead Acid Battery | |
| Lithium-ion Battery | |
| Other Types |
| End User | |
| Automotive | |
| Data Centers | |
| Telecommunication | |
| Energy Storage | |
| Other End Users |
| Geography | |
| China | |
| Japan | |
| Mongolia | |
| South Korea | |
| Rest of East Asia |
East Asia Battery Market Size Summary
The East Asia battery market is poised for significant growth, driven by increasing demand from the automotive sector and the declining prices of lithium-ion batteries. The region's ambition to become a data center hub further fuels this expansion. Despite the challenges posed by the COVID-19 pandemic, the market has rebounded to pre-pandemic levels. However, the energy storage segment faces stagnant growth due to reliance on alternative energy storage solutions. Nonetheless, the integration of renewable energy with national grids presents substantial opportunities for lithium-ion battery manufacturers. China, as a dominant player, benefits from robust demand across various end-user sectors, particularly in automotive and renewable energy.
The automotive sector is expected to be a major driver of lithium-ion battery demand, with the rise of electric vehicles (EVs) providing a significant boost. The global shift towards hybrid and electric vehicles is supported by policy initiatives that enhance consumer appeal and reduce investment risks. East Asia, with its burgeoning economies and supportive government policies, is a key investment destination for battery companies. China's rapid adoption of EVs and renewable energy installations underscores its pivotal role in the battery market. The country's focus on clean energy and urbanization, coupled with increasing consumer spending, is set to escalate the demand for advanced battery technologies. The market is characterized by partial fragmentation, with key players like BYD Co. Ltd, C&D Technologies Inc., and LG Chem Ltd. actively contributing to its development.
East Asia Battery Market Size - Table of Contents
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1. MARKET OVERVIEW
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1.1 Introduction
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1.2 Market Size and Demand Forecast, in USD billion, till 2027
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1.3 Recent Trends and Developments
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1.4 Government Policies and Regulations
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1.5 Market Dynamics
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1.5.1 Drivers
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1.5.2 Restraints
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1.6 Supply Chain Analysis
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1.7 Industry Attractiveness - Porter's Five Forces Analysis
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1.7.1 Threat of New Entrants
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1.7.2 Bargaining Power of Consumers
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1.7.3 Bargaining Power of Suppliers
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1.7.4 Threat of Substitutes Products and Services
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1.7.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION AND ANALYSIS
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2.1 Type
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2.1.1 Lead Acid Battery
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2.1.2 Lithium-ion Battery
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2.1.3 Other Types
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2.2 End User
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2.2.1 Automotive
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2.2.2 Data Centers
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2.2.3 Telecommunication
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2.2.4 Energy Storage
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2.2.5 Other End Users
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2.3 Geography
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2.3.1 China
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2.3.2 Japan
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2.3.3 Mongolia
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2.3.4 South Korea
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2.3.5 Rest of East Asia
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East Asia Battery Market Size FAQs
What is the current East Asia Battery Market size?
The East Asia Battery Market is projected to register a CAGR of greater than 10.20% during the forecast period (2024-2029)
Who are the key players in East Asia Battery Market?
BYD Co. Ltd., C&D Technologies Inc., Tianjin Lishen Battery Joint-Stock Co. Ltd, GS Yuasa Corporation and LG Chem Ltd. are the major companies operating in the East Asia Battery Market.
