How big is the Southeast Asia lithium-ion battery market?
The market size and forecasts for the Southeast Asia lithium-ion battery market in revenue (USD Billion) for all the above segments. The Southeast Asia Lithium-ion Battery Market is expected to register a CAGR of 15% during the forecast period.
Is Vietnam a leader in Southeast Asia's lithium-ion battery market?
Vietnam has established itself as the dominant force in Southeast Asia's lithium-ion battery market, commanding approximately 64% of the regional market share in 2024. The country's strategic advantage stems from its abundant high-quality nickel reserves, which have become increasingly attractive to international mining companies.
What is the market share of lead acid batteries in Southeast Asia?
Lead acid batteries continue to dominate the Southeast Asian battery market, holding approximately 65% market share in 2024. This dominance is primarily driven by the automotive industry and data centers, which extensively use lead acid batteries for power storage applications.
Will Thailand's first EV battery production plant boost EV industry?
Under joint efforts, venture expected to give impetus to industry in SE Asia Thailand's first domestic electric vehicle battery pack production plant went into operation on Thursday. The plant, run jointly by Chinese battery cell manufacturer Gotion High-tech and Thai company Nuovo Plus, is expected to give Southeast Asia's EV industry a boost.
Why are EV batteries so popular in Southeast Asia?
The automotive manufacturing landscape in Southeast Asia is experiencing substantial investments in EV production facilities, which is directly driving the demand for electric vehicle battery systems.
Which countries dominate the battery market in Southeast Asia?
The remaining Southeast Asian countries, including Singapore, the Philippines, Brunei, Laos, Myanmar, and Cambodia, each contribute uniquely to the regional battery market landscape.
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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.
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Figure 4.2 Volume-weighted Average Pack and Cell Price Trends 62 Figure 4.3 Example of Lithium -ion Battery Cost Estimates using the Learning Curve 63 Figure 4.4 IEEJ''s Global Outlook for Lithium-Ion Battery for HEVs, PHEVs, and EVs (Cumulative) 64 Figure 4.5 Estimated Cost of Lithium-Ion Battery (2016 – 2040) 64
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