Bangladesh Lithium-Ion Battery Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

The Market is Segmented by Application (Automotive, Telecommunication, Other Applications (ESS, Data Centers, Consumer Electronics, etc.))

Market Snapshot

Bangladesh Lithium-ion Battery Market - Market Summary
Study Period: 2016 - 2026
Base Year: 2020
CAGR: >7.2 %

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Market Overview

The Bangladesh Lithium-ion Battery Market is expected to grow at a CAGR of more than 7.2% during the forecast period. Bangladesh is mostly an import-only market for lithium-ion batteries (LIBs) and it has an extensive chain of distributors’ network catering to the market demand for LIBs. Most of the demand for LIB is met by imports from China, followed by India, Singapore, and the United States. In Bangladesh, the demand for LIBs is expected to register significant growth in years to come, supported by the government incentives for renewable power (which work more effectively when used with LIBs), legalization of electric three-wheel vehicles (~100,000 of which were already running in the rural areas), and due to the increasing shift of telecoms operators towards LIBs from Lead-acid batteries (LAB). However, the sluggish growth in the renewable especially the solar infrastructure is likely to act as a restraint for the market.

  • In the short term, the telecom sector seems to be the one creating significant demand for the LIBs. The country has also witnessed the transition from LAB towards LIB (beginning from 2017). However, supported by increasing interest of automakers in the country, the demand for LIBs for EV application is expected to witness a positive growth rate in the long term. Further, EV manufacturers, such as Bangladesh Auto Industries Ltd (BAIL), Nitol Motors, Pragati Industries, PHP Family, and Hyundai Motors have laid up plans to construct EV assembly facilities in the country.
  • Moreover, Anticipated growth in the electric vehicle industry, and growth of residential energy storage systems (ESS) and Microgrids, is likely to provide opportunity for the market growth during the forecasted period.

Scope of the Report

The Bangladesh lithium-ion battery market report include:

By Application
Automotive
Telecommunication
Other Applications

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Key Market Trends

Increasing Demand from the Telecommunication Sector

  • The telecom infrastructure requires a power source to operate. Sometimes, the telecom tower is in remote and isolated areas, which are usually far from any electrical grid and depend on on-site power generation to operate. Both wireless service providers, as well as BTS tower operators, are turning to solar PV and PV/Hybrid power solutions to achieve their business objectives which have led to increase in demand of LIB for backup purposes. 
  • Recently, a study was conducted by JCM on “Energy Saving by Utilizing Lithium-ion Batteries at Base Transceiver Stations in Unstable-grid Areas in Bangladesh”. The study estimated that the project reduces a total of 2,082 tCO2 greenhouse gas, annually, by using 200 lithium-ion battery units in total.
  • Hence, with the need for clean and green fuel and the growing need for the telecommunication infrastructure, due to increasing wireless subscribers in the country, the need for a lithium-ion battery in the telecommunication is going to increase in the future.
Bangladesh Lithium-ion Battery Market Mobile Phone Subscribers

Competitive Landscape

The Bangladesh lithium-ion battery market is fragmented. Some of the key companies in the market under consideration are BASE Technologies Ltd., Energy System Company (ENSYSCO), Panna Group (PG), SARBS Communications Ltd, and Saif Powertec Limited. 

Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Scope of the report

    2. 1.2 Market Definition

    3. 1.3 Study Assumptions

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET OVERVIEW

    1. 4.1 Introduction

    2. 4.2 Evolution of Bangladesh Battery Market

    3. 4.3 Lithium-ion Battery Price Trend Analysis until 2025 (in USD/kWh)

    4. 4.4 Market Potential for Types of Lithium-ion Battery (Comparative Analysis)

      1. 4.4.1 Lithium Iron Phosphate Battery (LFP)

      2. 4.4.2 Lithium Nickel Manganese Cobalt Oxide Battery (NMC)

      3. 4.4.3 Lithium-Titanate Battery (LTO)

      4. 4.4.4 Lithium Cobalt Oxide Battery (LCO)

      5. 4.4.5 Lithium-ion Manganese Oxide Battery (LMO)

    5. 4.5 International Trade Statistics, By Major Countries, Asia-Pacific, 2012 - 2018

    6. 4.6 Government Targets, Policies, and Regulations

    7. 4.7 Recent Trends and Developments

    8. 4.8 Market Dynamics

      1. 4.8.1 Drivers

      2. 4.8.2 Restraints

    9. 4.9 Supply-Chain Analysis

    10. 4.10 PESTLE Analysis

  5. 5. MARKET SEGMENTATION

    1. 5.1 By Application

      1. 5.1.1 Automotive

      2. 5.1.2 Telecommunication

      3. 5.1.3 Other Applications

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Mergers & Acquisitions, Joint Ventures, Collaborations, and Agreements

    2. 6.2 Strategies Adopted by Leading Players

    3. 6.3 Company Profiles

      1. 6.3.1 BASE Technologies Ltd.

      2. 6.3.2 Energy System Company (ENSYSCO)

      3. 6.3.3 Panna Group (PG)

      4. 6.3.4 Rahimafrooz Ltd

      5. 6.3.5 Saif Powertec Limited

      6. 6.3.6 SARBS Communications Ltd

      7. 6.3.7 Zhejiang Narada Power Source Co. Ltd

      8. 6.3.8 Okaya Power Pvt Ltd

      9. 6.3.9 Dongjin Group

      10. 6.3.10 GS Yuasa Corporation

    4. *List Not Exhaustive
  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

**Subject to Availability

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Frequently Asked Questions

The Bangladesh Lithium-Ion Battery Market market is studied from 2016 - 2026.

The Bangladesh Lithium-Ion Battery Market is growing at a CAGR of >7.2% over the next 5 years.

BASE Technologies Ltd., Energy System Company (ENSYSCO), Panna Group (PG), SARBS Communications Ltd, Saif Powertec Limited are the major companies operating in Bangladesh Lithium-Ion Battery Market.

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