Vietnam Battery Market Report 2020, Competitive Landscape, Trends and Opportunities- GS Battery Vietnam Co. Ltd, Leoch International Technology Ltd, Pinaco, Hitachi Chemical Energy Technology

The Vietnam battery market is expected to grow at a CAGR of more than 12% over the period of 2020-2025. Factors such as declining lithium-ion battery prices along with increasing demand for lead-acid batteries are expected to drive the Vietnam battery market during the forecast period. However, the country relies on pumped hydro storage rather than battery storage systems. This factor, in turn, is likely to hinder the growth of battery-based energy storage systems and the battery market in the coming years.

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Top Leading Manufactures-

GS Battery Vietnam Co. Ltd, Leoch International Technology Ltd, Pinaco, Hitachi Chemical Energy Technology (Vietnam) Co., Ltd, Vision Group, HENG LI (VIETNAM) BATTERY TECHNOLOGY CO., LTD,

Market Scenario

Lead-acid Battery to Dominate the Market

- Vietnams annual gross domestic product (GDP) per capita growth has accelerated in 2018 to over 6.8% and is expected to continue at 6.5% for at least the next three years.
- The country anticipates a significant boom in the passenger car market. Currently, car ownership is 23 cars per 1,000 people, compared to 204 cars per 1,000 people in neighboring Thailand, and 790 cars per 1,000 people in the US. It is expected that the country ownership of cars will grow to 50 per 1,000 people in the next few years, as a result of a rapidly growing middle-class economic condition, continued economic growth, and major investments in the national road infrastructure.
- As of 2018, lead-acid battery types, such as valve-regulated lead-acid (VRLA) and flooded batteries, dominated the automotive market share in the country.
- In March 2019, Leoch International Technology announced that it will be bringing two new lead-acid battery plants on stream this year in Vietnam. With the announcement of new plants, the company will be able to offer overseas customers the most cost-effective battery solutions by eliminating market uncertainties such as trade barriers and fluctuations of raw material prices.

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Competitive Landscape

The Vietnam battery market is consolidated. Some of the key players in this market include Vision Group, PINACO, GS Battery Vietnam Co. Ltd, HENG LI (VIETNAM) BATTERY TECHNOLOGY CO., LTD, and Leoch Battery Corporation.

What are the market factors that are explained in the report?

–Key Strategic Developments: The study also includes the key strategic developments of the market, comprising R&D, new product launch, M&A, agreements, collaborations, partnerships, joint ventures, and regional growth of the leading competitors operating in the market on a Global and regional scale.

–Key Market Features: The report evaluated key market features, including revenue, price, capacity, capacity utilization rate, gross, production, production rate, consumption, import/export, supply/demand, cost, market share, CAGR, and gross margin. In addition, the study offers a comprehensive study of the key market dynamics and their latest trends, along with pertinent market segments and sub-segments.

–Analytical Tools: Global Vietnam Battery Market report includes the accurately studied and assessed data of the key industry players and their scope in the market by means of a number of analytical tools. The analytical tools such as Porter’s five forces analysis, feasibility study, and investment return analysis have been used to analyzed the growth of the key players operating in the market. 

How we have factored the effect of Covid-19 in our report:

All the reports that we list have been tracking the impact of COVID-19 the market. Both upstream and downstream of the entire supplychain has been accounted for while doing this. Also, where possible, we will provide an additional COVID-19 update supplement/report to the report in Q3, please check for with the sales team.

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MarketInsightsReports provides syndicated market research on industry verticals including Healthcare, Information and Communication Technology (ICT), Technology and Media, Chemicals, Materials, Energy, Heavy Industry, etc. MarketInsightsReports provides global and regional market intelligence coverage, a 360-degree market view which includes statistical forecasts, competitive landscape, detailed segmentation, key trends, and strategic recommendations.

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