ASIA-PACIFIC ELECTRIC VEHICLE BATTERY MARKET 2021-2028

Automotive & Transportation | Electronics & Electric system

ASIA-PACIFIC ELECTRIC VEHICLE BATTERY MARKET 2021-2028

Market by Vehicle Type, Battery Type, End-user, and Country | Forecast 2021-2028

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According to Triton’s report, the Asia-Pacific electric vehicle battery market is likely to register growth at a compound annual growth rate of 17.09% during the forecasted period 2021-2028.


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The countries considered in this market include:

•        India

•        China

•        Japan

•        Australia & New Zealand

•        South Korea

•        Singapore

•        Rest of Asia-Pacific

In the region, China dominates the EV battery supply chain due to its long-term contracts with raw material suppliers. Further, prominent battery manufacturers, including Panasonic and Samsung SDI, have set up operations across the region, adding to the studied market’s progress. Other than this, the rising population and industrialization in India and China have enhanced the demand for electric vehicles. Moreover, cheap labor, raw materials, government support, and rising economies are another set of factors driving the development of the electric vehicle battery market within the APAC region.

Furthermore, China is leading in the EV battery supply chain. For instance, it is among the top five nations with the most lithium resources, as per the 2020 USGS. Moreover, the country is purchasing stakes in mining operations within Australia and South America, where a majority of the world’s lithium reserves are located. Besides, Ganfeng Lithium has devised a long-term contract to countersign all lithium raw materials generated by Mount Marion mine in Australia. Therefore, these factors suggest that the Chinese electric vehicle battery market is likely to witness growth in the upcoming years.

CALB (China Lithium Battery Technology Co Ltd) is a high-tech company specializing in R&D, sales, and market application development of lithium batteries, energy storage batteries, and related integrated products. Its product line includes two systems, namely, NCM and lithium-ion phosphate, that have passed the authoritative quality system certification, as well as international certifications. CALB is headquartered in China. 

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Table of Content

1. ASIA-PACIFIC ELECTRIC VEHICLE BATTERY MARKET - SUMMARY

2. INDUSTRY OUTLOOK

2.1. KEY INSIGHTS

2.1.1. INCREASED INVESTMENTS IN THE ELECTRIC VEHICLE MARKET

2.1.2. NEED FOR SUBSIDIES IN BATTERY RECYCLING

2.2. IMPACT OF COVID-19 ON ELECTRIC VEHICLE BATTERY MARKET

2.3. PORTER’S FIVE FORCES ANALYSIS

2.3.1. THREAT OF NEW ENTRANTS

2.3.2. THREAT OF SUBSTITUTES

2.3.3. BARGAINING POWER OF SUPPLIERS

2.3.4. BARGAINING POWER OF BUYERS

2.3.5. THREAT OF COMPETITIVE RIVALRY

2.4. MARKET ATTRACTIVENESS MATRIX

2.5. INDUSTRY COMPONENTS

2.5.1. RAW MATERIAL MINING

2.5.2. BATTERY CELL

2.5.3. BATTERY MODULE

2.5.4. BATTERY PACK

2.5.5. END-USER

2.5.6. END OF LIFE PROCESSES

2.6. VENDOR SCORECARD

2.7. TECHNOLOGY ANALYSIS

2.7.1. LI-ION BATTERY BASED ON VARIATION IN CATHODE MATERIAL

2.7.1.1. NCM (LITHIUM-COBALT-MANGANESE-OXIDE)

2.7.1.2. NCA (LITHIUM NICKEL COBALT ALUMINUM OXIDE)

2.7.1.3. LFP (LITHIUM IRON PHOSPHATE)

2.7.2. SOLID STATE BATTERIES

2.8. RAW MATERIAL ANALYSIS

2.8.1. KEY RAW MATERIALS

2.8.2. COUNTRIES HAVING HIGH DEPOSITS OF KEY RAW MATERIALS

2.8.2.1. LITHIUM

2.8.2.2. MANGANESE

2.8.2.3. NICKEL

2.8.2.4. COBALT

2.8.2.5. GRAPHITE

2.9. KEY MARKET STRATEGIES

2.9.1. CONTRACTS & PARTNERSHIPS

2.9.2. BUSINESS EXPANSIONS & DIVESTITURES

2.9.3. ACQUISITIONS & MERGERS

2.9.4. NEW PRODUCT LAUNCHES

2.10. INDUSTRY PLAYER POSITIONING

2.11. MARKET DRIVERS

2.11.1. GROWING ELECTRIC VEHICLES MARKET

2.11.2. GOVERNMENTAL INCENTIVES AND PROMOTION

2.11.3. DEVELOPMENTS IN BATTERY TECHNOLOGY

2.11.4. GROWTH IN PUBLIC CHARGING INFRASTRUCTURE

2.12. MARKET CHALLENGES

2.12.1. ISSUES IN RAW MATERIAL PROCUREMENT

2.12.2. HIGH CHARGING TIME FOR BATTERIES

2.12.3. SAFETY CONCERNS

2.13. MARKET OPPORTUNITIES

2.13.1. EMERGENCE OF SHARED E-MOBILITY HELPING BATTERY SWAPPING SEGMENT

2.13.2. IMPROVEMENTS IN VEHICLE-TO-GRID (V2G) TECHNOLOGIES

3. ASIA-PACIFIC ELECTRIC VEHICLE BATTERY MARKET – BY VEHICLE TYPE

3.1. BATTERY ELECTRIC VEHICLE

3.2. HYBRID ELECTRIC VEHICLE

3.3. PLUG-IN HYBRID ELECTRIC VEHICLE

4. ASIA-PACIFIC ELECTRIC VEHICLE BATTERY MARKET - BY BATTERY TYPE

4.1. LEAD ACID

4.2. NICKEL-METAL HYDRIDE

4.3. LITHIUM-ION

5. ASIA-PACIFIC ELECTRIC VEHICLE BATTERY MARKET - BY END-USER

5.1. COMMERCIAL VEHICLE

5.2. PASSENGER CAR

5.3. OTHER END-USERS

6. ASIA-PACIFIC ELECTRIC VEHICLE BATTERY MARKET – REGIONAL OUTLOOK

6.1. CHINA

6.2. JAPAN

6.3. INDIA

6.4. SOUTH KOREA

6.5. SINGAPORE

6.6. AUSTRALIA & NEW ZEALAND

6.7. REST OF ASIA-PACIFIC

7. COMPETITIVE LANDSCAPE

7.1. MARKET SHARE ANALYSIS

7.2. COMPANY PROFILES

7.2.1. CATL

7.2.2. LG ENSOL

7.2.3. PANASONIC

7.2.4. SAMSUNG SDI

7.2.5. SK INNOVATION

7.2.6. BYD

7.2.7. CALB

7.2.8. VEHICLE ENERGY JAPAN CO LTD

7.2.9. TOSHIBA CORPORATION

7.2.10. LITHIUM ENERGY JAPAN

7.2.11. ENVISION AESC

7.2.12. A123 SYSTEMS

7.2.13. GS YUASA

7.2.14. NORTHVOLT AB

7.2.15. PRIME PLANET ENERGY SOLUTIONS

8. METHODOLOGY & SCOPE

8.1. RESEARCH SCOPE & DELIVERABLES

8.2. SOURCES OF DATA

8.3. RESEARCH METHODOLOGY

List of Tables

TABLE 1: ASIA-PACIFIC ELECTRIC VEHICLE BATTERY MARKET, COUNTRY OUTLOOK, 2021-2028 (IN $ MILLION)

TABLE 2: MARKET ATTRACTIVENESS MATRIX

TABLE 3: VENDOR SCORECARD

TABLE 4: MAJOR ELECTRIC VEHICLE KEY RAW MATERIALS PRODUCERS

TABLE 5: LIST OF CONTRACTS & PARTNERSHIPS

TABLE 6: LIST OF BUSINESS EXPANSIONS & DIVESTITURES

TABLE 7: LIST OF ACQUISITIONS & MERGERS

TABLE 8: LIST OF NEW PRODUCT LAUNCHES

TABLE 9: ASIA-PACIFIC ELECTRIC VEHICLE BATTERY MARKET, BY VEHICLE TYPE, 2021-2028 (IN $ MILLION)

TABLE 10: ASIA-PACIFIC ELECTRIC VEHICLE BATTERY MARKET, BY BATTERY TYPE, 2021-2028 (IN $ MILLION)

TABLE 11: ASIA-PACIFIC ELECTRIC VEHICLE BATTERY MARKET, BY END-USER, 2021-2028 (IN $ MILLION)

TABLE 12: ASIA-PACIFIC ELECTRIC VEHICLE BATTERY MARKET, BY COUNTRY OUTLOOK, 2021-2028, (IN $ MILLION)

List of Figures

FIGURE 1: PORTER’S FIVE FORCES ANALYSIS

FIGURE 2: INDUSTRY COMPONENTS

FIGURE 3: SNAPSHOT OF A TYPICAL NCM BATTERY

FIGURE 4: SNAPSHOT OF A TYPICAL NCA BATTERY

FIGURE 5: SNAPSHOT OF A TYPICAL LFP BATTERY

FIGURE 6: INDUSTRY PLAYER POSITIONING IN 2020 (IN %)

FIGURE 7: ELECTRIC VEHICLE SALES, IN UNITS, 2010-2020

FIGURE 8: LITHIUM-ION BATTERY PRICE PER KWH (2010-2020)

FIGURE 9: ASIA-PACIFIC ELECTRIC VEHICLE BATTERY MARKET, BY VEHICLE TYPE, 2020 & 2028 (IN %)

FIGURE 10: ASIA-PACIFIC ELECTRIC VEHICLE BATTERY MARKET, BY BATTERY ELECTRIC VEHICLE, 2021-2028 (IN $ MILLION)

FIGURE 11: ASIA-PACIFIC ELECTRIC VEHICLE BATTERY MARKET, BY HYBRID ELECTRIC VEHICLE, 2021-2028 (IN $ MILLION)

FIGURE 12: ASIA-PACIFIC ELECTRIC VEHICLE BATTERY MARKET, BY PLUG-IN HYBRID ELECTRIC VEHICLE, 2021-2028 (IN $ MILLION)

FIGURE 13: ASIA-PACIFIC ELECTRIC VEHICLE BATTERY MARKET, BY BATTERY TYPE, 2020 & 2028 (IN %)

FIGURE 14: ASIA-PACIFIC ELECTRIC VEHICLE BATTERY MARKET, BY LEAD ACID, 2021-2028 (IN $ MILLION)

FIGURE 15: ASIA-PACIFIC ELECTRIC VEHICLE BATTERY MARKET, BY NICKEL METAL HYDRIDE, 2021-2028 (IN $ MILLION)

FIGURE 16: ASIA-PACIFIC ELECTRIC VEHICLE BATTERY MARKET, BY LITHIUM-ION, 2021-2028 (IN $ MILLION)

FIGURE 17: ASIA-PACIFIC ELECTRIC VEHICLE BATTERY MARKET, BY END-USER, 2020 & 2028 (IN %)

FIGURE 18: ASIA-PACIFIC ELECTRIC VEHICLE BATTERY MARKET, BY COMMERCIAL VEHICLE, 2021-2028 (IN $ MILLION)

FIGURE 19: ASIA-PACIFIC ELECTRIC VEHICLE BATTERY MARKET, BY PASSENGER CAR, 2021-2028 (IN $ MILLION)

FIGURE 20: ASIA-PACIFIC ELECTRIC VEHICLE BATTERY MARKET, BY OTHER END-USERS, 2021-2028 (IN $ MILLION)

FIGURE 21: ASIA-PACIFIC ELECTRIC VEHICLE BATTERY MARKET, COUNTRY OUTLOOK, 2020 & 2028 (IN %)

FIGURE 22: CHINA ELECTRIC VEHICLE BATTERY MARKET 2021-2028 (IN $ MILLION)

FIGURE 23: JAPAN ELECTRIC VEHICLE BATTERY MARKET 2021-2028 (IN $ MILLION)

FIGURE 24: INDIA ELECTRIC VEHICLE BATTERY MARKET 2021-2028 (IN $ MILLION)

FIGURE 25: SOUTH KOREA ELECTRIC VEHICLE BATTERY MARKET 2021-2028 (IN $ MILLION)

FIGURE 26: SINGAPORE ELECTRIC VEHICLE BATTERY MARKET 2021-2028 (IN $ MILLION)

FIGURE 27: AUSTRALIA & NEW ZEALAND ELECTRIC VEHICLE BATTERY MARKET 2021-2028 (IN $ MILLION)

FIGURE 28: REST OF ASIA-PACIFIC ELECTRIC VEHICLE BATTERY MARKET 2021-2028 (IN $ MILLION)

FIGURE 29: MARKET SHARE ANALYSIS, 2020 (IN %)

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