Market Size of Asia-Pacific Dual Carbon Battery Industry
| Study Period | 2021 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2021 - 2022 |
| CAGR | > 3.00 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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APAC Dual Carbon Battery Market Analysis
The market for dual-carbon batteries in the Asia-Pacific region is expected to grow at a CAGR of approximately 3% during the forecast period.
The market was negatively impacted by COVID-19. Presently the market has now reached pre-pandemic levels.
- Over the long term, fast charging capability, cheap manufacturing cost compared to other batteries, and environment friendly with 100% recyclable features, etc., are the factors that are expected to drive the dual carbon battery market over the forecast period.
- On the other hand, the rise in graphite carbon prices and competition from other battery technologies hinder market growth.
- Nevertheless, growth in the electric vehicles (EV) market can create immense opportunities in the future as they offer clean alternatives to cars with internal combustion engines (ICE) that helps to reduce air pollution resulting from fuel combustion and limit noise.
- China was dominating country in the region in 2021 and is expected to dominate during the forecast period due to the rising number of EVs.
