Market Size of Bangladesh Lithium-ion Battery Industry
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Market Size (2024) | USD 276.15 Million |
| Market Size (2029) | USD 403.32 Million |
| CAGR (2024 - 2029) | 7.87 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Lithium Ion Battery in Bangladesh Market Analysis
The Bangladesh Lithium-ion Battery Market size is estimated at USD 276.15 million in 2024, and is expected to reach USD 403.32 million by 2029, growing at a CAGR of 7.87% during the forecast period (2024-2029).
The outbreak of COVID-19 hurt the market. Currently, the market has reached pre-pandemic levels.
- During the forecast period, the market in Bangladesh is likely to be driven by government incentives for renewable energy, which works better when combined with LIBs, the legalization of electric three-wheel vehicles, and the shift of telecom operators away from lead-acid batteries and toward LIBs.
- However, the import dependency on other countries (which are not self-reliant in lithium-ion battery production) will likely restrain the Bangladesh lithium-ion battery market during the forecast period.
- Bangladesh wants to eliminate cars with internal combustion engines and replace them with electric cars to reduce pollution and rely less on fossil fuels. EVs prefer lithium-ion battery technology for propulsion over other kinds of batteries. This is likely to present opportunities in the market soon.
