The Asia Pacific rechargeable battery market is currently witnessing moderate growth. Rechargeable batteries are electrochemical devices that convert chemical energy into electrical energy. Also known as secondary cells, accumulators and storage batteries, they are widely available in different shapes and sizes. At present, the demand for rechargeable batteries is escalating on account of the increasing sales of smartphones, unmanned aerial vehicles (UAVs), and electric vehicles (EVs) in the Asia Pacific region.
Continuous efforts undertaken by regional governments to encourage the utilization of electric vehicles (EVs) are strengthening the growth of the rechargeable batteries market in the Asia Pacific region. Apart from this, the demand for rechargeable batteries is increasing as they are more energy-efficient, produce less waste and can be charged with a simple battery charger. Furthermore, rising environmental concerns have also positively influenced the sales of rechargeable batteries in the region. However, the sudden outbreak of coronavirus disease (COVID-19) and lockdowns imposed by governing agencies in the region have negatively impacted operations at several manufacturing units. The market will experience an increase in the overall production once lockdown restrictions are relaxed. Looking forward, the market is expected to continue its moderate growth during the forecast period (2021-2026).
IMARC Group provides an analysis of the key trends in each sub-segment of the Asia Pacific rechargeable battery market report, along with forecasts for growth at the region level from 2021-2026. Our report has categorized the market based on region, battery type, capacity and application.
Market Breakup by Battery Type:
Market Breakup by Capacity:
Market Breakup by Application:
Breakup by Country:
The competitive landscape of the industry has also been examined along with the profiles of the key players.
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