Asia-Pacific Lithium-ion Battery Market, Forecast to 2025

Asia-Pacific Lithium-ion Battery Market, Forecast to 2025

  • July 2019 •
  • 94 pages •
  • Report ID: 5806178 •
  • Format: PDF
Increasing use of smartphones that offer the mobile Internet facility loaded with multiple applications has become a way of life around the world. The Asia-Pacific region includes countries with high populations, emerging economies, and increasing urbanization.

All this paves the way for higher demand for smartphones and improved telecommunications and data center infrastructures, boosting the use of lithium-ion batteries directly or indirectly. Lithium-ion batteries have also become the norm for all consumer electronic equipment, including mobile phones, laptops, tablets, power banks, and wearable devices (e.g., smart watches). There is a growing penetration of lithium-ion batteries in industrial applications including cordless power drills, data center and backup power, energy storage, advanced medical devices, material handling equipment, and aerospace and defense. Although lithium-ion is yet to fully replace the existing battery chemistries, the number of equipment fitted with lithium-ion batteries each year is increasing significantly. This drives lithium-ion battery demand for the industrial applications segment. Growing adoption of electric vehicles (EVs) is one of the key emerging trends in APAC, where each country has a supportive policy for the growth of EVs in place. This further drives the demand for lithium-ion batteries and creates growth opportunities for all major battery manufacturers in the region.