PUBLISHER: Market Research Future | PRODUCT CODE: 1727722
PUBLISHER: Market Research Future | PRODUCT CODE: 1727722
Report Information on Southeast Asia Battery Market Research By Chemistry (Alkaline Batteries, Zinc Carbon Batteries, Lithium Batteries, Nickel Cadmium Batteries and Others), By Product Type (Single-Use and Rechargeable Batteries), By Application (Entertainment, Lighting, Toys & Games, Photography, Household, IOT Devices, Car Key, and Others), By Distribution Channel (Online and Offline) Forecast to 2032
The Southeast Asia battery market has undergone significant growth as a result of the increasing demand for consumer electronics. The market is expected to grow by 5.86% from 2024 to 2032, from its current value of USD 839.02 million in 2023, to reach USD 1,404.72 million by 2032. The primary factors contributing to this growth are the continued dominance of mobile device usage, laptops, and other portable electronics in the market. The demand for rechargeable batteries that are both efficient and long-lasting is increasing as consumers transition to more sophisticated and power-intensive devices.
The primary source of revenue in the Southeast Asian battery market is concentrated in countries such as Indonesia, Malaysia, and Thailand. The electronics industry in Thailand is robust and the market conditions are favorable, which will lead to a CAGR of 7.38% during the forecast period. The country with the greatest growth rate is Thailand. In the same vein, Vietnam and Indonesia are exhibiting robust development trends because of an expanding middle class that is investing in personal electronic devices and an increase in disposable income. The demand in the Philippines and Singapore is consistent, and there is modest growth anticipated over the forecast period, despite their modest contributions to the market.
Alkaline Batteries, Zinc Carbon Batteries, Lithium Batteries, Nickel Cadmium Batteries, and Others comprise the Southeast Asia Battery market, as determined by chemistry.
In terms of product type, both single-use and rechargeable batteries are the dominant options.
With a market share of 55.98% in 2023 and a growth rate of 5.06%, alkaline batteries remain the most prevalent in terms of composition. Nevertheless, lithium-ion batteries are undergoing the most dynamic development, with a compound annual growth rate (CAGR) of 7.93%. The efficiency of lithium-ion batteries and their ubiquitous use in advanced consumer electronics are the foundations of this growth. The demand for higher energy densities in portable devices is expected to continue to drive lithium-based batteries to surpass other chemistries, particularly in premium devices such as laptops and smartphones.
Online sales channels are the most significant development in the Southeast Asia battery market. As consumers increasingly opt for digital platforms for their purchasing needs, it is anticipated that online retail sales will expand at a compound annual growth rate (CAGR) of 8.90%. The region's traditional retail strength is evident in the lethargic growth of offline sales, which continue to dominate.
The Southeast Asia Battery Market is segmented into a diverse array of applications, including Entertainment, Lighting, Toys & Games, Photography, Household, IoT Devices, Car Keys, and Others. The Household segment is the most significant of these, accounting for a substantial portion of the market.
The Southeast Asia battery market has been segmented into online and offline segments according to the distribution channel.
Duracell, Energizer Holdings, Inc., EVE Energy Co., Ltd, Fujitsu Limited, GP Industries Ltd, GS Yuasa Corporation, Panasonic Holdings Corporation, and TDK Corporation are the primary participants in the Southeast Asia Battery market.