The Asia-Pacific battery market is evaluated to develop with a CAGR of 17.68% over the forecasted years of 2022 to 2030, capturing a revenue share of $217192.04 million by 2030.

The increasing adoption of electric vehicles, the developing renewable sector, and the launch of high-quality energy as well as power storage technology are among the key factors accredited to the market growth of the region. However, the Asia-Pacific battery market is likely to be hindered by the ineffective recycling and reuse of batteries, in addition to insufficient charging infrastructure.

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The Asia-Pacific battery market growth assessment covers the study of Australia & New Zealand, South Korea, India, Japan, China, and Rest of Asia-Pacific. The rapidly developing renewable sector, the growth in the automotive industry, and the increasing sale of consumer electronics are among the key factors reinforcing the global battery market in China. As one of the largest automotive markets across the globe, nearly 4.67 million commercial vehicles, as well as 21.41 million passenger cars, were manufactured in the country in 2021. Moreover, with a manufacturing volume of approximately 21.41 million passenger vehicles, China ranked first among the nations with the highest passenger car production. In addition, every fourth passenger vehicle manufacturer in the world, on average, was manufactured in China.

Conversely, Japan has witnessed significant developments among market players, particularly in the arena of battery technologies and battery electric vehicles. In 2022, for instance, Toyota introduced the bZ4X sport utility vehicle (SUV), its first mass-produced battery-electric car in the country. Subsequently, in the same year, Nissan announced the launch of its second battery-electric vehicle mode termed the Ariya SUV. Research and development, as well as advancements in battery chemistries, are further anticipated to account for a notable growth opportunity, especially in terms of battery adoption and application. Hence, these factors are set to propel the battery market growth in the Asia-Pacific over the forecast period.

The Asia-Pacific battery market is segmented into type, technology, and application. The application category is further classified into automotive batteries, portable batteries, SLI batteries, industrial batteries, power tools batteries, and other applications. Automotive batteries are utilized for powering the electrical systems of vehicles when the engine is turned off. It is also used to start the engine, delivering current for the ignition system as well as the electric starter motor.

On the other hand, the industrial applications of batteries entail telecommunication, road signs, forklifts with extra material handling equipment, energy storage, security, emergency lighting, uninterrupted power supplies, medical, and control and switchgear.

Some of the prominent companies operating in the Asia-Pacific battery market are Toshiba Corporation, GS Yuasa International Ltd, LG Chem Ltd, etc.

Toshiba Corporation, headquartered in Japan, is a multinational company providing a diverse range of products and services. These include batteries, industrial, power, and social infrastructure systems, escalators, semiconductors, elevators, electronic components, lighting, hard disk drives (HDD), printers, as well as IT solutions like quantum cryptography.

Toshiba SCiBTM is a highly safe rechargeable battery with outstanding characteristics. In this regard, it is designed to inhibit thermal runaway arising from short-circuiting due to physical stress.

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