Pakistan Battery trend report includes a market forecast to 2029 and historical overview. Get a sample of this industry trends analysis as a free report PDF download. The lithium-ion battery market is still in its nascent phase in Pakistan. The country imports the majority of its Li-ion batteries from China.
The increasing growth of electric vehicles and the renewable energy sector in the country are likely to drive the Pakistan battery market during the forecast period. The lithium-ion battery market is still in the nascent phase in Pakistan. The country imports majority of its Li-ion batteries from China.
Hence, with declining prices, the lithium-ion battery segment is likely to witness significant growth in the market during the forecast period. The initiation of electric vehicle assembling projects in Pakistan is expected to boost the battery market in the coming years.
The Pakistani battery market is segmented by technology and application. By technology, the market is segmented into lithium-ion battery, lead-acid battery, and other technologies. By application, the market is segmented into SLI batteries, industrial batteries, portable, automotive, and other applications.
The Pakistan Battery Market is growing at a CAGR of >3.5% over the next 5 years. Zhejiang Narada Power Source Co., Ltd. , Phoenix Battery Ltd. , Atlas Battery Limited, Exide Pakistan Limited. , National Battery Industry Ltd. are the major companies operating in Pakistan Battery Market.
The initiation of electric vehicle assembling projects in Pakistan is expected to boost the battery market in the coming years. The government has been working toward increasing the integration of EVs in the country's automobile sector and has set a target of 30% of vehicles operating on batteries by 2030.