Will lithium-ion battery market grow in Myanmar?

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.

Which countries import lithium batteries to Myanmar?

The remaining supplying countries recorded the following average annual rates of imports growth: Thailand (+79.5% per year) and Indonesia (+37.8% per year). 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.

Does Myanmar have a battery market?

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. According to the Automotive Association of Myanmar, in 2019, new vehicle sales amounted to 21,916 vehicles, with an increase of about 25% compared to 2018 (sales of 17,524 vehicles).

Who are the major players in Myanmar battery market?

The Myanmar battery market is consolidated. Some of the major players include Siam GS Battery Myanmar Limited, Schneider Electric SE, Toyo Battery Myanmar Co. Ltd, and Panasonic Corporation. Myanmar fourth mobile operator Mytel, in August 2019, announced the launch of its first 5G network in Myanmar.

How did lithium battery imports perform in 2021?

In value terms, lithium battery imports shrank remarkably to $X in 2021. Overall, imports, however, continue to indicate a significant increase. The pace of growth was the most pronounced in 2018 when imports increased by 458%. Imports peaked at $X in 2019; however, from 2020 to 2021, imports remained at a lower figure.