1. Panasonic Corporation
2. BYD Company Limited
3. C&D Technologies Inc.
5. Contemporary Amperex Technology Corporation Limited
Asia is a major customer of batteries because of growing automobile production, coupled with rapid development in the industrial sector, generating high demand across the region. Growing aircraft and automobile manufacturing in the developing nations of the region is expected to provide enormous potential for market growth. In many areas, the Asia-Pacific has been one of the most dynamic and promising regions in the world over the past three decades and has become an important driving force in the world economy. The Asia-Pacific countries, led by China, Korea, and Japan, have shown a dynamic scene in the field of lithium-ion batteries. They are considered to be the core driving force of the global new lithium-ion battery industry. The report titled "Asia Pacific Battery Market Research Report, 2027" published by Actual Market Research gives a complete insight on the battery classified on the basis of type (primary & secondary), technology (lead-acid, lithium-ion, nickel-cadmium & nickel-metal hydride), and application (automotive, industrial & portable) for the countries of China, Japan, India, and Australia. The overall Asia-Pacific market is expected to grow at a CAGR of more than 9.5% between 2022 and 2027.With the major countries of the region being the top 10 contributors, Asia-Pacific is without any doubt the market leader in the battery market. In a declining market trend, China leads the market with a share of more than 25%. Both China and India's markets are driven by increasing populations, urbanization, declining costs of electronic items, the introduction of new smart technology, and cheaper internet data. The increasing penetration of telecommunication service providers and frequent replacements of gadgets are opportunities for the growth of the battery market in China and India, which aid the countries to contribute approximately 40% over the forecast period. A significant fraction of the region's population is still living without access to electricity and depends on conventional fuels such as kerosene and diesel. Lithium-ion battery integrated energy storage solutions are likely to witness an increasing rate of adoption due to the technical benefits associated with them and declining lithium-ion battery prices. However, the market is led by the lead-acid battery segment in 2021. The increasing popularity of the lithium-ion battery is expected to allow the segment to grow at a CAGR of over 14% through the forecast period. The automotive battery segment is expected to be the fastest growing segment in the battery market owing to the increasing demand from new vehicles produced in the region, and the segment is expected to be the leading end-user for lithium-ion batteries in upcoming years. Policy support enables market growth by making vehicles appealing to consumers, reducing risks for investors, and encouraging manufacturers to develop electric vehicles on a large scale. The industrial segment is expected to remain the least contributing sector by the end of the year 2026. Automotive production in countries like Thailand, Indonesia, and Malaysia witnessed decent growth. Therefore, the increasing trend of automotive production in the major countries of Southeast Asia is expected to drive the Asia-Pacific battery market, especially the lead-acid type, during the forecast period. Plans to integrate renewable energy with the national grids in respective countries are expected to create a significant opportunity for lithium-ion battery manufacturers and suppliers in the future. The global production of batteries for electric vehicles is concentrated in Asia-Pacific, with Chinese, Japanese, and South Korean companies dominating the sector and building factories in Europe to conserve their supremacy. As of 2020, China was the largest market for electric vehicles, as the country accounted for approximately 39% of the global sales by the number of vehicles sold. The country is also making efforts to reduce air pollution levels, which is further expected to push the automotive battery segment. The rapidly developing renewable sector, the growth in the automotive industry, and the increasing sale of consumer electronics are among the key factors reinforcing the global battery market in China. As one of the largest automotive markets across the globe, nearly 4.67 million commercial vehicles, as well as 21.41 million passenger cars, were manufactured in the country in 2021. Moreover, with a manufacturing volume of approximately 21.41 million passenger vehicles, China ranked first among the nations with the highest passenger car production. In addition, every fourth passenger vehicle manufacturer in the world, on average, is manufactured in China. In Japan, there have been significant developments by the market players in battery technology and electric vehicles. For instance, Toyota unveiled its first mass-produced battery electric car, "the bZ4X sport utility vehicle (SUV)," with a plan to lease the electric car at an amount equivalent to $39,000 for the first four years. In addition, Nissan announced its second battery-electric vehicle model, the Ariya SUV, in 2022. Further, the advancements and R&D of battery chemistries account for significant growth in the country. Founded in 1875, Toshiba Corporation is a Japan-based multinational company headquartered in Minato, Tokyo. The company is one of the biggest consumer electronics manufacturers of personal computers, home appliances, and medical equipment. Additionally, as a result of research and development, the company files approximately 7000 patent applications annually in different segments. These form the corporate assets of the company. The company has a strong presence in Asia-Pacific, Europe, the Middle East, Africa, and Latin America. Based on policy-level support from the government encouraging the manufacturing sector, India is likely to experience significant growth in the Asia-Pacific battery market. India is among the top five emitters of CO2 in the world. To mitigate the problem of air pollution, the government has taken the initiative to implement policies favorable to increasing the EV fleet count on the road. In the current market scenario, policy support plays a crucial role in driving the adoption of electric vehicles. Policy support enables market growth by making vehicles appealing to consumers, reducing risks for investors, and encouraging manufacturers to develop electric vehicles on a large scale. Falling battery prices and improving technology are expected to bring price-competitive electric vehicles to the market, creating demand for battery technologies. The Indian government has taken several initiatives to promote electric vehicles. In April 2019, Phase II of the Faster Adoption and Manufacturing of (Hybrid &) Electric Vehicles (FAME) India scheme was implemented for three years. The scheme’s main objective is to promote faster adoption of electric and hybrid vehicles by providing an incentive on the purchase of electric vehicles and creating the necessary charging infrastructure for electric vehicles, thereby boosting the automotive battery segment. However, the FAME India Scheme (which started in April 2019) was supposed to end by 2022. However, with the approval of competent authorities, the union government decided in June 2021 that the FAME India Phase II Scheme would be extended for two years, i.e., up to March 2024. In the first quarter of 2021, the union government increased incentives for electric two- and three-wheelers in order to encourage widespread adoption. According to some industry experts, the government wanted to utilize the funds earmarked for the FAME scheme, with the sale of EVs remaining muted for the past two years. To this effect, in February 2020, the Indian Department of Telecommunications issued directions to the telecom service providers to use renewable energy solutions and energy-efficient technologies, thereby boosting the Indian battery market. Hence, due to such factors, India is expected to witness significant growth in the Asia-Pacific battery market during the forecast period. Some of the key players in this market are Contemporary Amperex Technology Co. Limited, BYD Co. Ltd, Duracell Inc., Panasonic Corporation, LG Chem Ltd, and Sony Corporation, among others. The regional players include ATLASBX Corporative Limited, Automotive Energy Supply Corporation, Duracell, Eveready Industries, Grepow, Leoch International Technology Limited, OptimumNano Energy, Primearth EV Energy, and Zhongyin Battery Corporative Limited. Recent Developments • In January 2022, China Lithium Battery Technology signed two contracts with two cities in the southern Chinese province of Guangdong to build new production facilities with an annual capacity of 50 GWh. The factories will be located in Guangzhou and Jiangmen. • In January 2022, BYD and FAW are planning a production facility for electric car batteries with an annual capacity of 45 GWh in north-eastern China. A joint venture between BYD and FAW called FAW FinDreams New Energy Technology was established, with a registered capital of EUR 140 million. BYD owns 51% of the joint venture, while FAW Group owns the rest. COVID-19 Impacts: The COVID-19 outbreak slightly impacted the region's battery market, especially lithium-ion batteries, which are used in many applications, including consumer electronics, electric vehicles, and other applications. The largest growth area has been electric vehicles (EVs) during the pandemic. China, which dominates global lithium-ion battery production, has seen its biggest lithium-ion manufacturers (Contemporary Amperex Technology Co. Ltd. (CATL) and BYD) curtail production due to a lack of workers and access to raw materials. Major factors driving the market include declining lithium-ion battery prices; rapid adoption of electric vehicles; a growing renewable sector; and increased sales of consumer electronics. On the other hand, the demand-supply mismatch of raw materials is likely to hinder the market’s growth in the coming years. Major Companies Present In the Market A123 Systems LLC, BYD Company Limited, C&D Technologies Inc., Clarios, Contemporary Amperex Technology Corporation Limited, GS Yuasa International Limited, Hitachi Chemical Corporation Limited, LG Chem Limited, Panasonic Corporation, Saft Group SA, Samsung Corporation Limited, Sony Corporation, Toshiba Corporation Considered In the Report • Geography: Asia-Pacific • Historical year: 2016 • Base year: 2021 • Estimated year: 2022 • Forecasted year: 2027 Countries covered: • China • Japan • India • Australia Aspects Covered In the Report • Market Size By Value for the historic time period (2016-2021) • Market Size By Value for the forecast time period (2022-2027) • Market Share by Type (Primary & Secondary) • Market Share by Technology (Lead acid Battery, Lithium ion Battery, Nickel metal hydride Battery, Nickel cadmium Battery & Other Batteries) • Market Share by Application (Automotive Batteries, Industrial Batteries & Portable Batteries) • Market Share by Country The approach of the report: We keep an eye on evolving markets and try to evaluate the potential of the products and services. If we find the market interesting, we start working on it and create the desired table of content, considering all aspects of the business. We start by creating separate questionnaires for C-level executives, national/regional sales personnel, company owners, dealers, distributors, and end-users. Once the questionnaires have been finalized, we start collecting the primary data (mostly through phone calls) and try to understand the market dynamics regionally or tier-wise. This process gives us in-depth details of the market, including all present companies, the top-performing products with reasons why they dominate; we get the details of new players and their innovative approaches; market trends; dynamics; and all the small details of the market. After the collection of primary inputs, we then cross-check the same with secondary sources that include associations, trade journals, annual reports, paid databases, newspapers, magazines, press releases, government sources, etc. From this, we get a rough estimate of the market and start checking existing product price variants, trade, production, raw material scenarios, policies and regulatory landscape, etc. Then, to finalize the market, we start collecting financials of each player present in the market, including limited, private limited, and LLPs. Moreover, we perform cross-industry and cross-region analysis of the product, and based on collected primary inputs and using statistical modeling, we start forecasting the market. We follow our forecasting algorithm, which is unique for each product but gives more weight age to primary inputs. At the same time, the content team starts preparing company profiles, market dynamics, market trends, five forces, PEST analysis, etc. Once the data is verified by the data expert, the team (primary team, content team, and data team) together crosscheck the segmentations, validate the market, and then the designing team starts plotting the graphs. Once the file is ready, the content team completes the report and makes sure that all the discussed points have been covered and provides their valuable inputs in the form of strategic recommendations for new as well as existing players. The QC team then checks the overall report that includes spell check, data verification, and makes the same dispatch ready and error-free. Intended Audience This report can be useful to industry consultants, manufacturers, suppliers, associations & organizations related to the battery manufacturers, government bodies, and other stakeholders to align their market-centric strategies. In addition to marketing & presentations, it will also increase competitive knowledge about the industry.