Spherical Insights has segmented the Japan Battery Market based on the below-mentioned segments: Japan Battery Market, By Battery Type Japan Battery Market, By Product Type Japan Battery Market, By Application Japan Battery Market, By End-Users
The market is segmented by Application (Electronic Devices, Automotive, Energy storage systems, and Other) Japan's Lithium-ion Battery market is expected to rise at a CAGR of 11% during the forecast period of 2022-2027. Like many other industries, the Lithium-ion Battery market has been dramatically hit by COVID-19 pandemic.
On the basis of end-users, the Japan Battery Market is segmented into aerospace, automobile, electronics, energy storage, military & defense, and others. Among these, the electronics segment is dominating the market with the largest revenue share of 34.2% over the forecast period.
The export value of rechargeable lead-acid batteries in Japan registered a considerable decline of more than 30%, from USD 128 million in 2018 to USD 83 million in 2021. The most popular secondary battery in Japan is the lithium-ion battery. It has a fast charging ability and offers longer life when compared to its counterparts.
The Japan Battery Market is growing at a CAGR of 11% over the next 5 years. Panasonic Corporation, GS Yuasa International Ltd, NGK Insulators Ltd., , Toshiba Corporation, Maxell, Ltd. are the major companies operating in Japan Battery Market.
As a result, Japan adopted an aggressive strategy for investing in the research and development of all-solid-state battery technologies. Although all-solid-state batteries continue experiencing shortcomings, but demand for liquid lithium-ion batteries (liquid LiBs) is expected to maintain its dominance in the Japanese battery market.