Will lithium-ion battery market grow in Myanmar?
The potential growth of lithium-ion batteries in the electric vehicle (EV) market is expected to create immense opportunities for the Myanmar battery market in the coming years. The automotive segment is expected to witness significant growth during the forecast period, owing to the increasing demand for new vehicles produced in the country.
What is driving the growth of the Myanmar battery market?
The automotive segment is expected to witness significant growth during the forecast period, owing to the increasing demand for new vehicles produced in the country. Potential growth of lithium-ion batteries in electric vehicle (EV) market is expected to create immense opportunities for the Myanmar battery market in the coming years.
Who are the major players in Myanmar battery market?
The Myanmar battery market is consolidated, with some of the major players including Siam GS Battery Myanmar Limited, Schneider Electric SE, Toyo Battery Myanmar Co. Ltd, and Panasonic Corporation.
Which application segment dominates the Myanmar battery market?
The Myanmar battery market is expected to register a CAGR of greater than 1.5% during the forecast period of – . Myanmar's battery market depends majorly on automotive application segment. With the COVID-19 pandemic in , the market witnessed a significant decrease in sales.
Which countries import lithium batteries to Myanmar?
The largest lithium battery suppliers to Myanmar were Thailand, Singapore, and Indonesia, with a combined 70% share of total imports. These countries accounted for the following values: Thailand ($X), Singapore ($X), and Indonesia ($X).
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