Market by Battery Type (Primary Battery, Secondary Battery), Technology (Lead-Acid, Lithium-Ion, Nickel-Cadmium, Nickel Metal Hydride, Nickel-Zinc (NiZn), Flow, Sodium-Sulfur (NaS), Zinc-Manganese Dioxide, Small Sealed Lead-Acid, Other Technologies), End-use (Automotive Batteries, Industrial Batteries, Portable Batteries, Power Tools Batteries, SLI Batteries, Other End-Uses), and Country Outlook | Forecast 2024-2032
According to Triton’s research report, the Asia-Pacific battery market is estimated to progress at a CAGR of 16.32% during the forecast period 2024-2032.
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In both developed and developing economies of the region, the adoption of electric vehicles is rapidly increasing. China leads in global electric vehicle sales, while other developing countries like India are revamping their public transportation systems to accommodate electric vehicles. For instance, in February 2024, the Indian government announced its plan to boost the electric vehicle ecosystem, focusing on enhancing public transportation. As noted by IEA, under its National Electric Bus Program 2022, the nation aims to deploy around 50,000 e-buses over the next five years. This surge in demand for electric vehicles is expected to be a key driver of the battery market’s growth in the Asia-Pacific region.
Besides, numerous battery manufacturers across the region are introducing affordable and high-quality energy and power storage technologies to help businesses manage their operations more efficiently, further creating opportunities for the battery market.
The countries analyzed in this region include:
China leads with the majority of market share, acquiring $38270.97 million in 2023
The expansion of China’s battery market is driven by the growing renewable energy sector, the rapid adoption of electric vehicles, and increased sales of consumer electronics.
As per OICA, China produced 30,160,966 vehicles, witnessing an almost 12% increase in 2023. Moreover, the number of electric car registrations surged by 35%, reaching 8.1 million the same year, as noted by IEA.
According to the National Bureau of Statistics, the total retail sales of consumer goods, including electronics, were up by around 7.2% year-on-year in 2023. As consumer spending increases, the demand for rechargeable batteries, especially lithium-ion batteries, is expected to surge.
Market Forecast for Japan
The growing advancements in battery technology, coupled with expansions across varied sectors, widen the scope of the battery market in Japan. For instance, in 2023, researchers at the University of Tokyo introduced a prototype cobalt-free Li-Ion battery, storing approximately 60% more energy than same-size alternatives. By focusing on innovations that enhance efficiency, capacity, and longevity, Japan is advancing key sectors like electric vehicles, renewable energy storage, and consumer electronics. Breakthroughs in solid-state and lithium batteries are making Japanese products more competitive and attracting global investment. Thus, continuous R&D improvements are set to amplify Japan’s leadership in the global battery market.
The market is sectioned into battery type, technology, and end-use. The battery type segment includes primary and secondary batteries.
A primary battery, also known as a primary cell, is designed for single use and is discarded after its energy is depleted. These batteries typically contain electrolytes within an absorbent material or a separator; hence, they are often called dry batteries. As the battery is used, the chemical reactions that generate power consume the active chemicals, ceasing electricity production once these chemicals are exhausted. Primary batteries are commonly used in small household devices such as portable radios and flashlights.
Contender Analysis in the Battery Market:
Panasonic Corporation, a prominent Japanese multinational conglomerate headquartered in Kadoma, Osaka, offers a diverse array of products and services, including automotive and avionics systems, rechargeable batteries, industrial systems, and home renovation and construction. The company’s specialties encompass home appliances, automotive and industrial equipment, business solutions, housing, engineering, artificial intelligence, audio-visual solutions, manufacturing, etc. With a global presence, it has operations across various regions, including Asia (38 bases).
In April 2024, the company announced the completion of its new battery production development facility inside its Suminoe factory in Osaka, Japan, to expand its global production capacity.
Other notable companies offering battery technologies include Samsung SDI Co Ltd, A123 Systems LLC, Enersys, and Exide Technologies.
KEY DELIVERABLES OF THE REPORT:
Market CAGR during the forecasting years 2024-2032
Detailed data highlighting key insights, industry components, and market strategies
Comprehensive information and estimation of the battery market revenue growth in the Asia-Pacific and its influence on the parent market
In-depth study of forthcoming trends in consumer behavioral patterns
A meticulous analysis of the competitive landscape and Porter’s Five Forces
A wide-ranging study of factors that will challenge the APAC battery market’s growth during the upcoming years
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VIEW REPORT1. ASIA-PACIFIC
BATTERY MARKET - SUMMARY
2. INDUSTRY
OUTLOOK
2.1. IMPACT
ANALYSIS ON THE BATTERY MARKET
2.1.1. COVID-19
IMPACT
2.2. PORTER’S
FIVE FORCES ANALYSIS
2.2.1. THREAT
OF NEW ENTRANTS
2.2.2. THREAT
OF SUBSTITUTES
2.2.3. BARGAINING
POWER OF BUYERS
2.2.4. BARGAINING
POWER OF SUPPLIERS
2.2.5. THREAT
OF COMPETITIVE RIVALRY
2.3. MARKET
ATTRACTIVENESS INDEX
2.4. REGULATORY
FRAMEWORK
2.5. KEY BUYING
IMPACT ANALYSIS
2.5.1. ENERGY
DENSITY
2.5.2. BATTERY
MEMORY
2.5.3. LIFETIME
2.5.4. DURABILITY
2.6. SUPPLY
CHAIN ANALYSIS
2.6.1. RAW
MATERIAL
2.6.2. MANUFACTURING
& ASSEMBLY
2.6.3. DISTRIBUTION
2.6.4. END-USER
APPLICATIONS
2.6.5. AFTER-SALES
SERVICES
2.6.6. RECYCLING
2.7. KEY
MARKET STRATEGIES
2.7.1. COLLABORATIONS
2.7.2. PRODUCT
LAUNCHES
2.7.3. ACQUISITIONS
2.7.4. INVESTMENTS
& EXPANSIONS
2.8. MARKET
DRIVERS
2.8.1. INCREASING
POPULARITY OF CONSUMER ELECTRONICS
2.8.2. GOVERNMENT
INCENTIVES TO MANUFACTURE EV BATTERY
2.8.3. HIGH BATTERY
DEMAND FOR AUTOMOTIVE APPLICATIONS, PRIMARILY FROM EVS
2.9. MARKET
CHALLENGES
2.9.1. ISSUES
RELATED TO BATTERY RECYCLING
2.9.2. SAFETY
CONCERNS ASSOCIATED WITH BATTERY USE
2.9.3. VOLATILITY
IN RAW MATERIAL PRICES
2.10. MARKET
OPPORTUNITIES
2.10.1. INCREASING
ATTENTION TO SECOND-LIFE BATTERY USES
2.10.2. RISING
DEMAND FOR LARGER BATTERY PACKS
2.10.3. DEVELOPMENTS
IN BATTERY TECHNOLOGIES
2.11. ANALYST
PERSPECTIVE
3. ASIA-PACIFIC
BATTERY MARKET – BY BATTERY TYPE
3.1. PRIMARY
BATTERY
3.2. SECONDARY
BATTERY
4. ASIA-PACIFIC
BATTERY MARKET – BY TECHNOLOGY
4.1. LEAD-ACID
4.2. LITHIUM-ION
4.3. NICKEL-CADMIUM
4.4. NICKEL
METAL HYDRIDE
4.5. NICKEL-ZINC
(NIZN)
4.6. FLOW
4.7. SODIUM-SULFUR
(NAS)
4.8. ZINC-MANGANESE
DIOXIDE
4.9. SMALL
SEALED LEAD-ACID
4.10. OTHER TECHNOLOGIES
5. ASIA-PACIFIC
BATTERY MARKET – BY END-USE
5.1. AUTOMOTIVE
BATTERIES
5.2. INDUSTRIAL
BATTERIES
5.3. PORTABLE
BATTERIES
5.4. POWER
TOOLS BATTERIES
5.5. SLI
BATTERIES
5.6. OTHER END-USES
6. ASIA-PACIFIC
BATTERY MARKET – BY COUNTRY OUTLOOK
6.1. CHINA
6.1.1. CHINA BATTERY
MARKET FORECAST & PROSPECTS
6.2. JAPAN
6.2.1. JAPAN BATTERY
MARKET FORECAST & PROSPECTS
6.3. INDIA
6.3.1. INDIA BATTERY
MARKET FORECAST & PROSPECTS
6.4. SOUTH
KOREA
6.4.1. SOUTH
KOREA BATTERY MARKET FORECAST & PROSPECTS
6.5. ASEAN
COUNTRIES
6.5.1. ASEAN
COUNTRIES BATTERY MARKET FORECAST & PROSPECTS
6.6. AUSTRALIA
& NEW ZEALAND
6.6.1. AUSTRALIA
& NEW ZEALAND BATTERY MARKET FORECAST & PROSPECTS
6.7. REST
OF ASIA-PACIFIC
6.7.1. REST
OF ASIA-PACIFIC BATTERY MARKET FORECAST & PROSPECTS
7. COMPETITIVE
LANDSCAPE
7.1. GS
YUASA INTERNATIONAL LTD
7.1.1. OVERVIEW
7.1.2. PORTFOLIO
7.1.3. KEY
STRENGTH
7.1.4. KEY
CHALLENGE
7.2. JOHNSON
CONTROLS INC
7.2.1. OVERVIEW
7.2.2. PORTFOLIO
7.2.3. KEY
STRENGTH
7.2.4. KEY
CHALLENGE
7.3. PANASONIC
CORPORATION
7.3.1. OVERVIEW
7.3.2. PORTFOLIO
7.3.3. KEY
STRENGTHS
7.3.4. KEY
CHALLENGES
7.4. SAMSUNG
SDI CO LTD
7.4.1. OVERVIEW
7.4.2. PORTFOLIO
7.4.3. KEY
STRENGTH
7.4.4. KEY
CHALLENGE
7.5. A123
SYSTEMS LLC
7.5.1. OVERVIEW
7.5.2. PORTFOLIO
7.5.3. KEY
STRENGTH
7.5.4. KEY
CHALLENGES
7.6. EXIDE
TECHNOLOGIES
7.6.1. OVERVIEW
7.6.2. PORTFOLIO
7.6.3. KEY
STRENGTH
7.6.4. KEY
CHALLENGE
7.7. ENERSYS
7.7.1. OVERVIEW
7.7.2. PORTFOLIO
7.7.3. KEY
STRENGTH
7.7.4. KEY
CHALLENGES
7.8. BYD
COMPANY LIMITED
7.8.1. OVERVIEW
7.8.2. PORTFOLIO
7.8.3. KEY
STRENGTH
7.8.4. KEY
CHALLENGE
7.9. C&D
TECHNOLOGIES INC
7.9.1. OVERVIEW
7.9.2. PORTFOLIO
7.9.3. KEY
STRENGTHS
7.9.4. KEY
CHALLENGE
7.10. SAFT
GROUPE SA
7.10.1. OVERVIEW
7.10.2. PORTFOLIO
7.10.3. KEY
STRENGTH
7.10.4. KEY
CHALLENGE
8. RESEARCH
METHODOLOGY & SCOPE
8.1. RESEARCH
SCOPE & DELIVERABLES
8.2. SOURCES
OF DATA
8.3. RESEARCH
METHODOLOGY
TABLE
1: ASIA-PACIFIC BATTERY MARKET, BY COUNTRY OUTLOOK, 2024-2032 (IN $ MILLION)
TABLE
2: REGULATORY FRAMEWORK
TABLE
3: LIST OF COLLABORATIONS
TABLE
4: LIST OF PRODUCT LAUNCHES
TABLE
5: LIST OF ACQUISITIONS
TABLE
6: LIST OF INVESTMENTS & EXPANSIONS
TABLE
7: ASIA-PACIFIC BATTERY MARKET, BY BATTERY TYPE, 2024-2032 (IN $ MILLION)
TABLE
8: ASIA-PACIFIC BATTERY MARKET, BY TECHNOLOGY, 2024-2032 (IN $ MILLION)
TABLE
9: ASIA-PACIFIC BATTERY MARKET, BY END-USE, 2024-2032 (IN $ MILLION)
TABLE
10: ASIA-PACIFIC BATTERY MARKET, BY COUNTRY OUTLOOK, 2024-2032 (IN $ MILLION)
FIGURE 1: PORTER’S FIVE FORCES ANALYSIS
FIGURE 2: MARKET ATTRACTIVENESS INDEX
FIGURE 3: KEY BUYING IMPACT ANALYSIS
FIGURE 4: SUPPLY CHAIN ANALYSIS
FIGURE 5: ASIA-PACIFIC BATTERY MARKET, BY BATTERY
TYPE, 2023 & 2032 (IN %)
FIGURE 6: ASIA-PACIFIC BATTERY MARKET, BY PRIMARY
BATTERY, 2024-2032 (IN $ MILLION)
FIGURE 7: ASIA-PACIFIC BATTERY MARKET, BY SECONDARY
BATTERY, 2024-2032 (IN $ MILLION)
FIGURE 8: ASIA-PACIFIC BATTERY MARKET, BY
TECHNOLOGY, 2023 & 2032 (IN %)
FIGURE 9: ASIA-PACIFIC BATTERY MARKET, BY LEAD-ACID,
2024-2032 (IN $ MILLION)
FIGURE 10: ASIA-PACIFIC BATTERY MARKET, BY
LITHIUM-ION, 2024-2032 (IN $ MILLION)
FIGURE 11: ASIA-PACIFIC BATTERY MARKET, BY
NICKEL-CADMIUM, 2024-2032 (IN $ MILLION)
FIGURE 12: ASIA-PACIFIC BATTERY MARKET, BY NICKEL
METAL HYDRIDE, 2024-2032 (IN $ MILLION)
FIGURE 13: ASIA-PACIFIC BATTERY MARKET, BY
NICKEL-ZINC (NIZN), 2024-2032 (IN $ MILLION)
FIGURE 14: ASIA-PACIFIC BATTERY MARKET, BY FLOW,
2024-2032 (IN $ MILLION)
FIGURE 15: ASIA-PACIFIC BATTERY MARKET, BY
SODIUM-SULFUR (NAS), 2024-2032 (IN $ MILLION)
FIGURE 16: ASIA-PACIFIC BATTERY MARKET, BY
ZINC-MANGANESE DIOXIDE, 2024-2032 (IN $ MILLION)
FIGURE 17: ASIA-PACIFIC BATTERY MARKET, BY SMALL
SEALED LEAD-ACID, 2024-2032 (IN $ MILLION)
FIGURE 18: ASIA-PACIFIC BATTERY MARKET, BY OTHER
TECHNOLOGIES, 2024-2032 (IN $ MILLION)
FIGURE 19: ASIA-PACIFIC BATTERY MARKET, BY END-USE,
2023 & 2032 (IN %)
FIGURE 20: ASIA-PACIFIC BATTERY MARKET, BY
AUTOMOTIVE BATTERIES, 2024-2032 (IN $ MILLION)
FIGURE 21: ASIA-PACIFIC BATTERY MARKET, BY
INDUSTRIAL BATTERIES, 2024-2032 (IN $ MILLION)
FIGURE 22: ASIA-PACIFIC BATTERY MARKET, BY PORTABLE
BATTERIES, 2024-2032 (IN $ MILLION)
FIGURE 23: ASIA-PACIFIC BATTERY MARKET, BY POWER
TOOLS BATTERIES, 2024-2032 (IN $ MILLION)
FIGURE 24: ASIA-PACIFIC BATTERY MARKET, BY SLI
BATTERIES, 2024-2032 (IN $ MILLION)
FIGURE 25: ASIA-PACIFIC BATTERY MARKET, BY OTHER
END-USES, 2024-2032 (IN $ MILLION)
FIGURE 26: ASIA-PACIFIC BATTERY MARKET, BY COUNTRY
OUTLOOK, 2023 & 2032 (IN %)
FIGURE 27: CHINA BATTERY MARKET 2024-2032 (IN $
MILLION)
FIGURE 28: JAPAN BATTERY MARKET 2024-2032 (IN $
MILLION)
FIGURE 29: INDIA BATTERY MARKET 2024-2032 (IN $
MILLION)
FIGURE 30: SOUTH KOREA BATTERY MARKET 2024-2032 (IN
$ MILLION)
FIGURE 31: ASEAN COUNTRIES BATTERY MARKET 2024-2032
(IN $ MILLION)
FIGURE 32: AUSTRALIA & NEW ZEALAND BATTERY
MARKET 2024-2032 (IN $ MILLION)
FIGURE 33: REST OF ASIA-PACIFIC BATTERY MARKET
2024-2032 (IN $ MILLION)