Taiwan Battery Market Size
|Study Period||2018- 2028|
|Base Year For Estimation||2022|
|Forecast Data Period||2023 - 2028|
|Historical Data Period||2018 - 2021|
|CAGR||> 8.00 %|
*Disclaimer: Major Players sorted in no particular order
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Taiwan Battery Market Analysis
The battery market in Taiwan is expected to register a CAGR of more than 8% in the forecast period.
The COVID-19 outbreak had a negative impact on the market due to regional lockdowns and supply chain restrictions,. Currently, the market has rebounded to pre-pandemic levels.
- The increasing demand from the EV, consumer electronics, and telecommunication industries is expected to boost the battery market in the country. Moreover, the growing renewable energy market in Taiwan is increasing the battery's need for energy storage considerably.
- However, there is a demand-supply mismatch for raw materials, which, in turn, is expected to hinder market growth.
- The growing telecom industry and the increasing adoption of electric vehicles are expected to create significant market opportunities for the Taiwan battery market in the near future.
Taiwan Battery Market Trends
Lithium-ion Batteries to Witness Significant Growth
- The penetration of lithium-ion batteries is growing in the industrial sector on account of the expansion of industrial infrastructure, the increasing economic viability of energy storage deployment, and the increasing need to reduce grid dependency for power supply.
- Due to the increasing sales of consumer electronics, including mobile phones, laptops, tablets, power banks, and wearable devices, the demand for lithium-ion batteries is expected to grow significantly during the forecast period.
- The adoption of Li-ion batteries in electric vehicles, energy storage systems, and portable devices is expected to rise at a fast pace owing to their low maintenance properties and higher energy densities.
- In 2022, Taiwan reported 9.72 GW of installed solar capacity. With growing renewable energy, especially solar and wind, the demand for lithium-ion batteries as an energy storage solution is increasing, as they offer high energy density and are lightweight.
- Moreover, with the decreasing prices of lithium-ion batteries and their increasing application in various segments, the share of lithium-ion batteries is expected to grow considerably.
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Increasing Demand Automotive Sector to Drive the Market
- The automotive application segment is leading the market on account of increasing demand for EVs, plug-in hybrid vehicles, and HEVs. Starting, lighting, and ignition (SLI) batteries in the automotive sector have contributed to high battery demand.
- Moreover, the automotive sector is expected to be one of the major end-user segments for lithium-ion batteries in the future. The penetration of electric vehicles is anticipated to provide a massive impetus for the lithium-ion battery industry's growth.
- A range of different vehicle types is now available globally, featuring increasing degrees of hybridization and electrification. There are various types of vehicles, including hybrid electric vehicles (HEVs), plug-in hybrid electric vehicles (PHEVs), and electric vehicles (EVs).
- Electric vehicles are expected to witness significant growth. In October 2022, Foxconn unveiled two electric vehicle prototypes, including a pickup truck. Additionally, the number of vehicle sales in the country reached 20,260 in November 2022.
- The number of vehicles is increasing in Taiwan, which is driving the market. Additionally, falling lithium-ion battery prices and improving technology are expected to bring price-competitive electric cars to the market, leading to considerable growth in battery demand in the automotive industry.
Taiwan Battery Industry Overview
The Taiwan battery market is fragmented. Some of the major companies (in no particular order) include Amita Technologies Inc., CSB Battery Technologies Inc, Tesla Inc, Kung Long Batteries Industrial Co Ltd, and Panasonic Corporation.
Taiwan Battery Market Leaders
Amita Technologies Inc
CSB Battery Technologies Inc
Kung Long Batteries Industrial Co Ltd
*Disclaimer: Major Players sorted in no particular order
Taiwan Battery Market News
- June 2022: Foxconn started construction for its first battery cell production plant in Kaohsiung. The trail production at the plant is expected to begin in Q1 2024.
- July 2022: Fluence signed a deal for its third battery energy storage system (BESS) project in Taiwan. The capacity of the project is 100 MW.
Taiwan Battery Market Report - Table of Contents
1.1 Scope of the Study
1.2 Market Definition
1.3 Study Assumptions
2. EXECUTIVE SUMMARY
3. RESEARCH METHODOLOGY
4. MARKET OVERVIEW
4.2 Market Size and Demand Forecast in USD billion, till 2028
4.3 Recent Trends and Developments
4.4 Government Policies and Regulations
4.5 Market Dynamics
4.6 Supply Chain Analysis
4.7 PESTLE Analysis
5. MARKET SEGMENTATION
5.2.1 Li-Ion Batteries
5.2.2 Lead Acid Batteries
5.2.3 Others Technologies
5.3.1 SLI Batteries
5.3.2 Industrial Batteries (Motive, Stationary (Telecom, UPS, Energy Storage Systems (ESS), etc.)
5.3.3 Portable Batteries (Consumer Electronics etc.)
5.3.4 Automotive Batteries (HEV, PHEV, EV)
5.3.5 Other Applications
6. COMPETITIVE LANDSCAPE
6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
6.2 Strategies Adopted by Leading Players
6.3 Company Profiles
6.3.1 Amita Technologies Inc.
6.3.2 Duracell Inc.
6.3.3 CSB Battery Technologies Inc.
6.3.4 Kung Long Batteries Industrial Co Ltd.
6.3.5 Panasonic Corporation
6.3.6 Tesla Inc.
6.3.7 SYNergy ScienTech Corp.
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
Taiwan Battery Market Research FAQs
What is the current Taiwan Battery Market size?
The Taiwan Battery Market is projected to register a CAGR of greater than 8% during the forecast period (2023-2028).
Who are the key players in Taiwan Battery Market?
Amita Technologies Inc, CSB Battery Technologies Inc, Kung Long Batteries Industrial Co Ltd, Panasonic Corporation and Tesla Inc are the major companies operating in the Taiwan Battery Market.
Taiwan Battery Industry Report
Statistics for the 2023 Taiwan Battery market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Taiwan Battery analysis includes a market forecast outlook to 2028 and historical overview. Get a sample of this industry analysis as a free report PDF download.