Market Research Report
Asia-Pacific Electric Vehicle Battery Market 2019-2025
|Published by||Orion Market Research Pvt Ltd||Product code||947867|
Delivery time: 2-3 business days
|Asia-Pacific Electric Vehicle Battery Market 2019-2025|
|Published: April 3, 2020||Content info:||
Asia-Pacific Electric Vehicle Battery Market Size, Share & Trends Analysis Report by Battery Type (NiMH, Li-ion, Other), By Vehicle Type (Commercial Vehicle, Passenger Cars, Two-Wheeler) by Propulsion Technology (Battery Electric Vehicle, Plug-in Hybrid Electric Vehicle) and Forecast 2019-2025
The Asia-pacific electric vehicle battery market is estimated to grow at a considerable growth rate during the forecast period. The declining lithium-ion battery prices, rapidly increasing adoption of electric vehicles, and the growing renewable sector are the key factors to contribute towards the growth of the electric vehicle battery market in the region. Japan and China are the major countries to make a considerable contribution to the market growth of the electric vehicle batteries market in the Asia-Pacific region. These countries are actively involved in promoting citizens to adopt electric vehicle by offering a different types of subsidies and incentives. For instance, in April 2018, the panel set up by the trade ministry made an announcement about the aim of the Japanese central government to have all new cars sold in Japan be electric or hybrid vehicles by 2050.
The market is segmented on the basis of battery type vehicle type, and propulsion technology. Based on the battery type, the market is sub-segmented into NiMH, Li-Ion, and others. Based on vehicle type, the market is sub-segmented into commercial vehicles, passenger cars, and two-wheeler. Based on propulsion technology the market is sub-segmented into battery electric vehicle, plug-in hybrid electric vehicle. Based on the propulsion type, plug-in hybrid vehicles are anticipated to have considerable market growth during the forecast period.
Some of the major companies which are contributing to the growth of the Asia-Pacific electric vehicle market include Shenzhen BAK Technology Co. Ltd, BYD Co. Ltd., Contemporary Amperex Technology Co., Ltd., and Hitachi, Ltd. and others. These players are involved in expansion of their market presence by the launch of new battery manufacturing plants in this region. For instance, The Dutch battery manufacturing company Lithium Werks BV made an investment of around $1.9 billion to build a lithium-ion battery factory in China to meet the growing demand for electric vehicle batteries in China.
The market study of the Asia-Pacific electric vehicle battery market is incorporated by extensive primary and secondary research conducted by the research team. Secondary research has been conducted to refine the available data to breakdown the market in various segments, derive total market size, market forecast, and growth rate. Different approaches have been worked on to derive the market value and market growth rate. Our team collects facts and data related to the market from different geography to provide a better regional outlook. In the report, the country-level analysis is provided by analyzing various regional players, regional tax laws and policies, consumer behavior and macro-economic factors. Numbers extracted from Secondary research have been authenticated by conducting proper primary research. It includes tracking down key people from the industry and interviewing them to validate the data. This enables our analyst to derive the closest possible figures without any major deviations in the actual number. Our analysts try to contact as many executives, managers, key opinion leaders, and industry experts. Primary research brings authenticity to our reports.
Secondary Sources Include:
The report provides an in-depth analysis on market size, intended quality of the service preferred by consumers. The report will serve as a source for 360-degree analysis of the market thoroughly integrating different models.
The Report Covers: