Asia-Pacific Battery E-commerce Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Market Size (2024) | USD 7.48 Billion |
| Market Size (2029) | USD 12.97 Billion |
| CAGR (2024 - 2029) | 11.60 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Asia-Pacific Battery E-commerce Market Analysis
The Asia-Pacific Battery E-commerce Market size is estimated at USD 7.48 billion in 2024, and is expected to reach USD 12.97 billion by 2029, growing at a CAGR of 11.60% during the forecast period (2024-2029).
- Over the medium period, the increasing adoption of electric vehicles and declining lithium-ion battery prices in India are expected to drive the market during the forecast period.
- On the other hand, higher capital costs compared to traditional internal combustion engines and limited accessibility to the Internet in rural parts are expected to hamper the market's growth.
- However, the increasing supportive government initiatives and technological advancements are expected to be a significant opportunity for the market during the forecast period.
- China is expected to dominate the market due to the increasing adoption of electric vehicles.
Asia-Pacific Battery E-commerce Market Trends
The Lithium-Ion Battery Segment is Expected to Dominate the Market
- Lithium-ion batteries are gaining more popularity than other battery types due to their favorable capacity-to-weight ratio. Other factors boosting its adoption include better performance, better shelf life, and a decreasing price.
- The price of lithium-ion batteries is usually higher than other batteries. However, major players across the market have been investing to gain economies of scale and R&D activities to enhance their performance, increasing the competition and, in turn, declining lithium-ion battery prices.
- The lithium-ion battery manufacturers are focusing on reducing the cost of Li-ion batteries. The price of lithium-ion batteries declined steeply over the past 10 years. In 2023, an average lithium-ion battery was valued at around USD 139 per kWh. It witnessed a decrease in the price of more than 85% in 2023 compared to 2010.
- As lithium-ion battery prices decline, electric vehicle (EV) ownership becomes more affordable for consumers in the region. This increased affordability directly contributes to the growth of the EV market, subsequently driving the demand for batteries.
- Due to increased production volume, especially in China, economies of scale were achieved in lithium-ion battery manufacturing. These large capacity additions also resulted in more competition among manufacturers, further reducing prices at the expense of manufacturers' profitability.
- BloombergNEF anticipates that battery costs will decline again in 2024 as more extraction and refinery capacity become operational and lithium prices begin to ease. By 2026, the average pack price will drop below USD 100/kWh.
- As a result, the growth of the lithium-ion battery segment is anticipated to create demand for batteries in the e-commerce sector in Asia-Pacific.
China is Expected to Dominate the Region
- China has witnessed explosive growth in the e-commerce sector, and the battery market is no exception. The convenience of online shopping and a tech-savvy consumer base contribute to the popularity of purchasing batteries through e-commerce platforms.
- China has become a global leader in the electric vehicle (EV) market, accounting for more than half of the world's electric automobiles and having already exceeded its 2025 target for new energy vehicle (NEV) sales. According to the International Energy Agency, China recorded sales of 8,100,000 (including BEV and PHEV) in 2023.
- The Chinese government has been actively promoting electric vehicles and renewable energy. Supportive policies, subsidies, and incentives for green technologies stimulate the demand for batteries, creating opportunities for e-commerce platforms.
- For instance, in June 2023, to boost domestic sales in this sector even further, the Ministry of Finance (MOF), State Taxation Administration (STA), and Ministry of Industry and Information Technology (MIIT) issued a joint announcement on Continuing and Optimizing the Vehicle Purchase Tax Reduction and Exemption Policy for New Energy Vehicles. According to the announcement, the new tax exemption was planned to take effect on January 1, 2024, and will last until December 31, 2027.
- The Chinese battery e-commerce market caters to various applications, including consumer electronics, electric vehicles, renewable energy storage, and industrial use. This diversity in applications contributes to the market's vibrancy.
- Therefore, China's technological prowess, strong e-commerce platforms, government support for green initiatives, and dominance in the electric vehicle market position it as a key player, expected to lead the Asia-Pacific battery e-commerce market.
Asia-Pacific Battery E-commerce Industry Overview
The Asia-Pacific battery e-commerce market is semi-fragmented. Some of the key players in this market include Exide Industries Ltd. and Luminous Power Technologies Pvt. Ltd, Panasonic Corporation, TATA AutoComp GY Batteries Pvt. Ltd, and Okaya Power Pvt. Ltd.
Asia-Pacific Battery E-commerce Market Leaders
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Exide Industries Ltd.
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Luminous Power Technologies Pvt. Ltd
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Panasonic Corporation
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TATA AutoComp GY Batteries Pvt. Ltd
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Okaya Power Pvt. Ltd.
*Disclaimer: Major Players sorted in no particular order
Asia-Pacific Battery E-commerce Market News
- June 2023: Tata Group signed an outline deal for building a lithium-ion cell factory with an investment of about USD 1.58 billion. The EV battery plant will help the nation create its electric vehicle supply chain rather than rely on imports. The plant will be located in Gujarat and have an initial manufacturing capacity of 20 gigawatt hours (GWh). Similarly, state-owned companies such as BHEL are establishing a lithium-ion battery production facility near Bangalore, Karnataka.
- May 2023: Pan Asia Metals signed a non-binding memorandum of understanding (MoU) with VinES Energy Solutions to explore a standalone lithium conversion project in Vietnam. Under the terms of the agreement, Pan Asia and VinES will collaborate to assess the viability of a standalone lithium conversion facility near VinES' Vietnamese battery plant. The study will consider an initial capacity of 20,000 to 25,000 tonnes of lithium carbonate or hydroxide per year.
Asia-Pacific Battery E-commerce Market Report - Table of Contents
1. INTRODUCTION
1.1 Scope of Study
1.2 Market Definition
1.3 Study Assumptions
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET OVERVIEW
4.1 Introduction
4.2 Market Size and Demand Forecast in USD billion, till 2029
4.3 Recent Trends and Developments
4.4 Government Policies and Regulations
4.5 Market Dynamics
4.5.1 Drivers
4.5.1.1 Increasing Adoption of Electric Vehicles
4.5.1.2 Declining Lithium-Ion Battery Prices
4.5.2 Restraints
4.5.2.1 Limited Accessibility to Internet in Rural Parts
4.6 Supply Chain Analysis
4.7 Porter's Five Forces Analysis
4.7.1 Bargaining Power of Suppliers
4.7.2 Bargaining Power of Consumers
4.7.3 Threat of New Entrants
4.7.4 Threat of Substitutes Products and Services
4.7.5 Intensity of Competitive Rivalry
4.8 Investment Analysis
5. MARKET SEGMENTATION
5.1 Battery Type
5.1.1 Lead-Acid
5.1.2 Lithium-Ion
5.1.3 Others
5.2 Geography
5.2.1 Asia-Pacific
5.2.1.1 India
5.2.1.2 China
5.2.1.3 Australia
5.2.1.4 Malaysia
5.2.1.5 Thailand
5.2.1.6 Indonesia
5.2.1.7 Vietnam
5.2.1.8 Rest of Asia-Pacific
6. COMPETITIVE LANDSCAPE
6.1 Mergers & Acquisitions, Joint Ventures, Collaborations, and Agreements
6.2 Strategies Adopted by Leading Players
6.3 Company Profiles
6.3.1 Exide Industries Ltd.
6.3.2 Luminous Power Technologies Pvt. Ltd
6.3.3 Panasonic Corporation
6.3.4 TATA AutoComp GY Batteries Pvt. Ltd
6.3.5 Okaya Power Pvt. Ltd.
6.3.6 LG Chem Ltd.
6.3.7 Samsung SDI Co. Ltd
6.3.8 BYD Co. Ltd
6.3.9 East Penn Manufacturing Company
6.3.10 Hitachi Ltd
- *List Not Exhaustive
6.4 Market Ranking/Share(%) Analysis
6.5 List of Other Prominent Companies
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
7.1 The Increasing Supportive Government Initiatives and Technological Advancements
Asia-Pacific Battery E-commerce Industry Segmentation
Battery e-commerce refers to buying and selling batteries online through electronic platforms or websites. This involves transactions related to various types of batteries, including but not limited to those used in electronic devices, vehicles, renewable energy systems, and other applications.
The Asia-Pacific battery e-commerce market is segmented by battery type and geography. By battery type, the market is segmented into lead-acid, lithium-ion, and other battery type. The report also covers the market size and forecasts for the Asia-Pacific battery e-commerce market across major countries.
For each segment, the market sizing and forecasts are done based on revenue (USD).
| Battery Type | |
| Lead-Acid | |
| Lithium-Ion | |
| Others |
| Geography | ||||||||||
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Asia-Pacific Battery E-commerce Market Research FAQs
How big is the Asia-Pacific Battery E-commerce Market?
The Asia-Pacific Battery E-commerce Market size is expected to reach USD 7.48 billion in 2024 and grow at a CAGR of 11.60% to reach USD 12.97 billion by 2029.
What is the current Asia-Pacific Battery E-commerce Market size?
In 2024, the Asia-Pacific Battery E-commerce Market size is expected to reach USD 7.48 billion.
Who are the key players in Asia-Pacific Battery E-commerce Market?
Exide Industries Ltd., Luminous Power Technologies Pvt. Ltd, Panasonic Corporation, TATA AutoComp GY Batteries Pvt. Ltd and Okaya Power Pvt. Ltd. are the major companies operating in the Asia-Pacific Battery E-commerce Market.
What years does this Asia-Pacific Battery E-commerce Market cover, and what was the market size in 2023?
In 2023, the Asia-Pacific Battery E-commerce Market size was estimated at USD 6.61 billion. The report covers the Asia-Pacific Battery E-commerce Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Asia-Pacific Battery E-commerce Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Asia-Pacific Battery E-commerce Industry Report
Statistics for the 2024 Asia-Pacific Battery E-commerce market share, size and revenue growth rate, created by 糖心vlog传媒鈩� Industry Reports. Asia-Pacific Battery E-commerce analysis includes a market forecast outlook for 2024 to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
