Market Size of Southeast Asia Lithium-ion Battery Industry
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2020 - 2022 |
| CAGR | 15.00 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Southeast Asia Lithium-Ion Battery Market Analysis
The Southeast Asia lithium-ion battery market is expected to register a CAGR of 15% during the forecast period.
The market was negatively impacted by COVID-19 in 2020. Presently the market has reached pre-pandemic levels.
- Over the long term, factors like decreasing lithium-ion battery prices and the increasing popularity of electric vehicles are expected to drive the market.
- On the other hand, a mismatch in the demand and supply of raw materials hinders the market growth.
- Nevertheless, plans to integrate renewable energy coupled with battery energy storage systems with the national grids in respective countries are expected to create enormous opportunities for the Southeast Asia Lithium-ion Battery Market.
- Thailand is expected to dominate the market, owing to the increasing demand from various sectors, especially the automotive sector.
