Southeast Asian battery cell market is experiencing significant growth

Published: Feb 2024

The global battery cell market is anticipated to grow at a significant CAGR of 18.4% during the forecast period (2024-2031). With significant growth of the global battery cells market, Southeast Asian countries are increasingly focusing on improving the regional battery ecosystem by adopting various strategies. Additionally, the region has a considerable presence of raw materials such as Nickel Manganese Cobalt (NMC) and Lithium Iron Phosphate (LFP). According to a 2023 report by the Asian Development Bank, Southeast Asia holds approximately 25.0% of global NMC reserves, which is the main raw material for NMC batteries. Although the region contributes less than 5.0% of the global market, it is anticipated to experience significant growth in the forecasting period. Among the region, Indonesia alone possesses the major share of Southeast Asia’s nickel reserves (approximately 21% of global reserves), making it an attractive opportunity for developing an NMC technology-focused battery ecosystem. Additionally, there has been strong commitment from global players to invest in building a domestic battery value chain ($15 billion in total investments till 2023) and strong government support. The Ministry of State-Owned Enterprises in Indonesia (BUMN) has aspired to achieve a domestic production capacity of 140 GWh by 2030.

Browse the full report description of “Battery Cell Market Size, Share & Trends Analysis Report by Type of Battery (Primary Cells and Secondary Cells), by End-User Industry (Automotive, Electronics,Energy, Aerospace & Defense and Healthcare) Forecast Period (2024-2031)” at https://www.omrglobal.com/industry-reports/battery-cell-market

Additionally, growing government support through investments, tax benefits, incentives and the growth of the regional EV ecosystem has further accelerated overall market growth. However, the limited availability of a skilled workforce, lack of R&D infrastructure, the limited ability of local mining companies to meet environmental, social, and governance (ESG) standards, and lack of sufficient logistical and transport infrastructure are affecting negatively overall market growth. 

To summarize, although the region’s battery cell market is at an early stage, it is further expected to grow significantly in the forecasting period, presenting opportunities for market entry expansion for players.

Market Coverage

The market number available for – 2023-2031

Base year- 2023

Forecast period- 2024-2031

Segment Covered- 

o By Type of Battery

o By End-User Industry

Regions Covered-

o North America

o Europe

o Asia-Pacific

o Rest of the World

Competitive Landscape- Panasonic Corp.,Contemporary Amperex Technology Co., Ltd. (CATL), Samsung SDI Co., Ltd.,and BYD Company Ltd. among others.

Key questions addressed by the report.

  • What is the market growth rate?
  • Which segment and region dominate the market in the base year?
  • Which segment and region will project the fastest growth in the market?
  • Who is the leader in the market?
  • How are players addressing challenges to sustain growth?
  • Where is the investment opportunity?

Global Battery Cell Market Report Segment

By Type of Battery

  • Primary Cells
  • Secondary Cells

By End-User Industry

  • Automotive
  • Electronics
  • Energy
  • Aerospace & Defense
  • Healthcare

Global Battery Cell Market Report Segment by Region

North America

United States

Canada

Europe

UK

Germany

Italy

Spain

France

Rest of Europe 

Asia-Pacific

China

India

Japan

South Korea

Rest of Asia-Pacific 

Rest of the World

Latin America 

Middle East & Africa


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