Market Size of Japan Battery Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 11.00 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Japan Battery Market Analysis
The Japan battery market is anticipated to register a CAGR of about 11% during the forecast period.
The outbreak of COVID-19 negatively impacted the market. Currently, the market has reached pre-pandemic levels.
- Factors such as the increasing adoption of electric vehicles, along with the increasing demand for consumer electronics and increasing renewable energy installations, are expected to drive the market.
- However, with the increasing demand for lithium-ion batteries, especially in electric cars, there is a substantial growth in mineral prices. In some cases, there is a shortage of mineral supply, which is likely to act as a restraint for the market growth during the forecast period.
- Advancements in the research and development of battery chemistries are expected to be a significant growth opportunity for the Japan Battery market in the future.
Japan Battery Industry Segmentation
A battery can be defined as an electrochemical device (consisting of one or more electrochemical cells) that can be charged with an electric current and discharged whenever required. Batteries are usually devices that are made up of multiple electrochemical cells that are connected to external inputs and outputs. The Japan battery market is segmented by battery type, technology, and application. By battery type, the market is segmented into primary battery and secondary battery. By application, the market is segmented into automotive batteries, industrial batteries, portable batteries, SLI batteries, and others. By technology, the market is segmented into lithium-ion batteries, lead-acid batteries, and others. For each segment, the market sizing and forecasts have been done based on revenue (USD billion).
| Battery Type | |
| Primary Battery | |
| Secondary Battery |
| Technology | |
| Lithium-ion Battery | |
| Lead-Acid Battery | |
| Others |
| Application | |
| Automotive Batteries (HEV, PHEV, EV) | |
| Industrial Batteries (Motive, Stationary (Telecom, UPS, Energy Storage Systems (ESS), etc.) | |
| Portable Batteries (Consumer Electronics, etc.) | |
| SLI Batteries | |
| Others |
Japan Battery Market Size Summary
The Japan battery market is poised for significant growth, driven by the increasing adoption of electric vehicles, rising demand for consumer electronics, and the expansion of renewable energy installations. The market has rebounded to pre-pandemic levels after the initial setbacks caused by COVID-19. However, the surge in demand for lithium-ion batteries, particularly in the electric vehicle sector, has led to a rise in mineral prices and occasional supply shortages, which may hinder market expansion. Despite these challenges, advancements in battery chemistry research and development present substantial growth opportunities for the market. Secondary batteries, including lead-acid, alkaline storage, and lithium-ion batteries, play a crucial role in various applications, with lithium-ion batteries gaining prominence due to their fast charging capabilities and longer lifespan.
Japan's commitment to renewable energy and grid-connected battery storage projects is expected to further bolster the battery market. The country aims to enhance its energy mix with solar, hydro, wind, and bioenergy, necessitating efficient battery storage systems to manage intermittent energy sources. Large-scale battery storage projects, such as the one announced by Orix and Kansai Electric, underscore Japan's ambition to lead in this sector. Government initiatives, like feed-in tariffs and premiums for solar installations, are designed to increase the share of renewable energy, thereby driving demand for battery energy storage systems. The market is characterized by fragmentation, with key players such as Panasonic Corporation, Maxell, Ltd., GS Yuasa International Ltd, NGK Insulators Ltd., and Toshiba Corporation actively contributing to its development.
Japan Battery Market Size - Table of Contents
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1. MARKET OVERVIEW
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1.1 Introduction
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1.2 Market Size and Demand Forecast in USD billion, till 2028
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1.3 Recent Trends and Developments
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1.4 Government Policies and Regulations
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1.5 Market Dynamics
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1.5.1 Drivers
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1.5.2 Restraints
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1.6 Supply Chain Analysis
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1.7 PESTLE Analysis
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2. MARKET SEGMENTATION
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2.1 Battery Type
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2.1.1 Primary Battery
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2.1.2 Secondary Battery
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2.2 Technology
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2.2.1 Lithium-ion Battery
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2.2.2 Lead-Acid Battery
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2.2.3 Others
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2.3 Application
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2.3.1 Automotive Batteries (HEV, PHEV, EV)
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2.3.2 Industrial Batteries (Motive, Stationary (Telecom, UPS, Energy Storage Systems (ESS), etc.)
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2.3.3 Portable Batteries (Consumer Electronics, etc.)
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2.3.4 SLI Batteries
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2.3.5 Others
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Japan Battery Market Size FAQs
What is the current Japan Battery Market size?
The Japan Battery Market is projected to register a CAGR of 11% during the forecast period (2024-2029)
Who are the key players in Japan Battery Market?
Panasonic Corporation, GS Yuasa International Ltd, NGK Insulators Ltd., , Toshiba Corporation and Maxell, Ltd. are the major companies operating in the Japan Battery Market.
