Market Size of Southeast Asia Battery Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Market Size (2024) | USD 2.85 Billion |
| Market Size (2029) | USD 3.95 Billion |
| CAGR (2024 - 2029) | 6.77 % |
| Market Concentration | Low |
Major Players/southeast-asia-battery-market---growth,-trends,-and-forecast-(2020---2025)_Companies_-_Southeast_Asia_Battery.webp)
*Disclaimer: Major Players sorted in no particular order |
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Southeast Asia Battery Market Analysis
The Southeast Asia Battery Market size is estimated at USD 2.85 billion in 2024, and is expected to reach USD 3.95 billion by 2029, growing at a CAGR of 6.77% during the forecast period (2024-2029).
Though COVID-19 negatively impacted the market in 2020, it has reached pre-pandemic levels.
- Over the medium term, factors such as growing demand from the automotive sector, declining lithium-ion battery prices, and plans to make Southeast Asia a data center hub are expected to drive the market during the forecast period.
- Despite the growing demand for batteries in the automotive, data centers, and telecommunications sectors, the battery energy storage segment is expected to witness stagnant growth, as most countries depend on other energy storage alternatives. This, in turn, is likely to restrain the growth of the battery market in the energy storage segment during the forecast period.
- Moreover, plans to integrate renewable energy with the national grids in respective countries are expected to create significant opportunities for lithium-ion battery manufacturers and suppliers during the forecast period.
- Thailand is expected to dominate the market during the forecast period due to the increasing demand from the automotive, data center, and other end-user sectors.
