Asia Pacific Battery Market Size & Outlook, 2023-2030
Asia Pacific battery market, 2018-2030 (US$M)
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Asia Pacific battery market highlights
- The Asia Pacific battery market generated a revenue of USD 65,360.6 million in 2023.
- The market is expected to grow at a CAGR of 15% from 2024 to 2030.
- In terms of segment, lithium ion was the largest revenue generating product in 2023.
- Sodium-ion is the most lucrative product segment registering the fastest growth during the forecast period.
- Country-wise, Vietnam is expected to register the highest CAGR from 2024 to 2030.
Asia Pacific data book summary
| Market revenue in 2023 | USD 65,360.6 million |
| Market revenue in 2030 | USD 173,959.1 million |
| Growth rate | 15% (CAGR from 2023 to 2030) |
| Largest segment | Lithium ion |
| Fastest growing segment | Sodium-ion |
| Historical data covered | 2018 - 2022 |
| Base year for estimation | 2023 |
| Forecast period covered | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Lead Acid, Lithium Ion, Nickel-based, Sodium-ion, Flow Battery, Small Sealed Lead-acid Batteries |
| Key market players worldwide | BYD Co Ltd ADR, GS Yuasa Corp, Hitachi Ltd, Johnson Controls International PLC, LG Chem, NEC Corp, Panasonic Holdings Corp, Samsung Electronics Co Ltd, Toshiba Corporation |
Other key industry trends
- In terms of revenue, Asia Pacific region accounted for 55.3% of the global battery market in 2023.
- Globally, Asia Pacific is projected to lead the regional market in terms of revenue in 2030.
- Europe is the fastest growing regional market and is projected to reach USD 69,201.0 million by 2030.
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Battery Market Scope
Battery Market Companies
| Name | Profile | # Employees | HQ | Website |
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Asia Pacific battery market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to battery market will help companies and investors design strategic landscapes.
Lithium ion was the largest segment with a revenue share of 40.81% in 2023. Horizon Databook has segmented the Asia Pacific battery market based on lead acid, lithium ion, nickel-based, sodium-ion, flow battery, small sealed lead-acid batteries covering the revenue growth of each sub-segment from 2018 to 2030.
The robust manufacturing base of batteries in China, Japan, and India along with the commitment of governments toward infrastructure development is expected to drive the battery market. Furthermore, the growing number of FMCG companies in India, China, and Singapore is expected to augment the demand for batteries, which is expected to boost the market over the forecast period.
Growing automotive industry, which is one of the largest end users of lead-acid batteries across countries, including India, Indonesia, Sri Lanka, and Vietnam, is expected to augment the market growth.
Commercial, residential, and grid storage sector are expected to witness significant growth on account of various factors, including industrialization, urbanization, and increased disposable income in developing countries, coupled with favorable regulations to attract investments.
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Horizon Databook provides a detailed overview of continent-level data and insights on the Asia Pacific battery market , including forecasts for subscribers. This continent databook contains high-level insights into Asia Pacific battery market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Asia Pacific battery market size, by country, 2018-2030 (US$M)
Asia Pacific Battery Market Outlook Share, 2023 & 2030 (US$M)
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