Asia-Pacific Battery Energy Storage System Market
The Asia-Pacific Battery Energy Storage System Market is growing at a CAGR of greater than 15% over the next 5 years. BYD Company Limited, LG Chem Ltd, Contemporary
China is likely to be the dominant player in the Asia-Pacific lithium-ion battery market, supported by increasing urbanization, consumer spending, and electric vehicle (EV) market growth. This section covers the major market trends shaping the APAC Lithium-ion Battery Market according to our research experts:
The Asia-Pacific lithium-ion battery market is fragmented. Some of the key players in this market are Contemporary Amperex Technology Co. Limited, BYD Co. Ltd, Samsung SDI Co. Ltd, Panasonic Corporation, and EnerSys, among others.
The Asia-Pacific lithium-ion battery market is expected to register a CAGR of approximately 15.5% during the forecast period.
In July 2021, Energy Renaissance started the construction of Australia's first lithium-ion battery production facility, and it plans to produce EV batteries tailored for Australian weather conditions. Such steps are likely to reduce the reliance on battery imports from other countries.
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