What are the top 3 suppliers of lithium batteries to Myanmar?
In value terms, the largest lithium battery suppliers to Myanmar were Thailand ($X), Singapore ($X) and Indonesia ($X), with a combined 70% share of total imports. The remaining supplying countries recorded the following average annual rates of imports growth: Thailand (+79.5% per year) and Indonesia (+37.8% per year).
Does Myanmar have a battery market?
Yes, Myanmar has a battery market. Myanmar's battery market depends majorly on automotive application segment.
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 2021 – 2026. Myanmar's battery market depends majorly on automotive application segment. With the COVID-19 pandemic in 2020, the market witnessed a significant decrease in sales.
What happened to Myanmar's lithium battery market in 2021?
In 2021, the Myanmar's lithium battery market decreased by -56.7% to $X
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.
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