Research Report on Southeast Asia Lithium Battery Industry 2023-2032

Research Report on Southeast Asia Lithium Battery Industry 2023-2032

Lithium battery is a device that converts its own stored chemical energy into electrical energy to maintain the use of the device. Generally speaking, lithium batteries can be divided into three categories: consumer batteries, power batteries and energy storage batteries, which are mostly used in 3C products, electric vehicles and other fields. With the expansion of smart phones, computers and other consumer electronics industries in Southeast Asia, as well as the rapid development of the electric vehicle industry, the demand for lithium batteries in Southeast Asia is strong.

Southeast Asia in this report includes 10 countries: Singapore, Thailand, Philippines, Malaysia, Indonesia, Vietnam, Myanmar, Brunei, Laos and Cambodia. With a total population of over 600 million by the end of 2021, Southeast Asia has an overall economic growth rate higher than the global average and is one of the key drivers of future global economic growth.

According to CRI's analysis, the economic levels of the 10 Southeast Asian countries vary greatly, with Singapore being the only developed country with a per capita GDP of about US$73,000 in 2021. While Myanmar and Cambodia will have a GDP per capita of less than US$2,000 in 2021. The population and minimum wage levels also vary greatly from country to country, with Brunei, which has the smallest population, having a total population of less than 500,000 people in 2021, and Indonesia, which has the largest population, having a population of about 275 million people in 2021. The most economically advanced countries in Southeast Asia do not have a legal minimum wage, with the actual minimum wage exceeding US$400 per month (for foreign maids), while the lowest minimum wage level in Myanmar is only about US$93 per month.

Taking Vietnam as an example, with the development of mobile Internet and e-commerce, Vietnam's smartphone sales have gradually increased, and in 2021, Vietnam's smartphone sales reached 15.9 million units, up 11.9% year-on-year. In addition, a number of electric car companies have laid out Vietnam, and the Vietnamese government has also formulated incentive policies for electric car purchases. CRI expects that the scale of electric cars in Vietnam will gradually expand in the future.

At present, the development of lithium battery industry in Southeast Asian countries varies greatly. According to CRI's analysis, Vietnam's lithium battery industry is small in scale but developing rapidly, and companies such as Samsung, LG and VinGroup have set up lithium battery production plants in Vietnam. Countries such as Thailand, Indonesia and Malaysia will also establish lithium battery production plants.

Overall, according to CRI forecast, the size of Southeast Asia's lithium battery industry will maintain growth from 2023-2032. On the one hand, the abundant labor resources and low production costs in Southeast Asian countries attract global lithium battery manufacturers to transfer their production capacity to the Southeast Asian region. On the other hand, the economic growth of Southeast Asian countries, the improvement of residents' living standards and the growth of demand for 3C products such as electric vehicles and smartphones will also promote the development of their lithium battery industry.

Topics covered:

• Southeast Asia Lithium Battery Industry Status and Major Sources in 2018-2022 
• What is the Impact of COVID-19 on Southeast Asia Lithium Battery Industry?
• Which Companies are the Major Players in Southeast Asia Lithium Battery Industry Market and What are their Competitive Benchmarks?
• Key Drivers and Market Opportunities in Southeast Asia Lithium Battery Industry   
• What are the Key Drivers, Challenges, and Opportunities for Southeast Asia Lithium Battery Industry during 2023-2032?
• What is the Expected Revenue of Southeast Asia Lithium Battery Industry during 2023-2032?
• What are the Strategies Adopted by the Key Players in the Market to Increase Their Market Share in the Industry?
• What are the Competitive Advantages of the Major Players in Southeast Asia Lithium Battery Industry Market?
• Which Segment of Southeast Asia Lithium Battery Industry is Expected to Dominate the Market in 2032?
• What are the Major Adverse Factors Facing Southeast Asia Lithium Battery Industry?