Asia-Pacific EV Battery Market by Type (Li-ion, Ni-MH, SLA, Ultracapacitors, Solid-state Batteries), Capacity (<50 kWh, 51-100 kWh, 101-300 kWh, >300 kWh), Bonding Type (Wire, Laser), Form, Application, End User, and Country - Forecast to 2029

Asia-Pacific EV Battery Market by Type (Li-ion, Ni-MH, SLA, Ultracapacitors, Solid-state Batteries), Capacity (<50 kWh, 51-100 kWh, 101-300 kWh, >300 kWh), Bonding Type (Wire, Laser), Form, Application, End User, and Country - Forecast to 2029

Asia-Pacific EV Batteries Market by Type (Li-ion, Ni-MH, SLA, Ultracapacitors, Solid-state Batteries), Capacity (<50 kWh, 51-100 kWh, 101-300 kWh, >300 kWh), Bonding Type (Wire, Laser), Form, Application, End User, and Country—Forecast to 2029

The research report titled, Asia-Pacific EV Batteries Market by Type (Li-ion, Ni-MH, SLA, Ultracapacitors, Solid-state Batteries), Capacity (<50 kWh, 51-100 kWh, 101-300 kWh, >300 kWh), Bonding Type (Wire, Laser), Form, Application, End User, and Country—Forecast to 2029, provides an in-depth analysis of the Asia-Pacific EV batteries market and emphasizes on the current market trends, market sizes, market shares, recent developments, and forecasts till 2029. The Asia-Pacific EV Batteries Market is expected to reach a value of $120.90 billion by 2029, at a CAGR of 23.3% during the forecast period 2022–2029.

The growth of this market is mainly attributed to factors such as increasing adoption of EVs, decreasing battery prices, and increasing investment by leading automotive OEMs to secure battery supply chains for their future electric vehicles. Increasing adoption of electric mobility in emerging economies, growing investments in developing lithium-ion battery capacity, and growing deployment of battery-as-a-service provide significant growth opportunities for players operating in this market.

The study offers a comprehensive analysis of the Asia-Pacific EV batteries market based on type (lithium-ion batteries, sealed lead acid batteries, nickel-metal hydride batteries, ultracapacitors, solid-state batteries, and other batteries), capacity (less than 50 kWh, 51 kWh to 100 kWh, 101 kWh to 300 kWh, and more than 300 kWh), bonding type (wire bonding and laser bonding), form (prismatic, cylindrical, and pouch), application (electric cars, light commercial vehicles, heavy commercial vehicles, e-scooters and motorcycles, and e-bikes), end user (electric vehicle OEMs and battery swapping stations), and country. This study also evaluates industry competitors and analyzes the market at the country level.

Based on type, the Asia-Pacific EV batteries market is mainly segmented into lithium-ion batteries, sealed lead acid batteries, nickel-metal hydride batteries, ultracapacitors, solid-state batteries, and other batteries. The solid-state battery segment is expected to grow at the fastest rate once it gets commercialized. As per Meticulous Research® analysis, the commercialization of solid-state batteries will occur from 2025.

A solid-state battery has a higher energy density than a Li-ion battery that uses liquid electrolyte solution. The solid electrolyte used in a solid-state battery provides increased safety due to its non-volatile and non-flammable components, in contrast to the liquid electrolytes found in lithium-ion batteries. A solid-state battery also effectively increases the energy density per unit area as compared to lithium-ion batteries. Due to such properties, a solid-state battery pack has a higher capacity than a lithium-ion battery of the same size. Hence, these are some of the major factors attributed to the high market growth of this segment.

Based on capacity, the Asia-Pacific EV batteries market is mainly segmented into less than 50kWh, 51kWh to 100kWh, 101kWh to 300kWh, and more than 300kWh. The 101kWh to 300kWh segment is expected to grow at the highest CAGR during the forecast period. The high growth rate of this segment is mainly because 101kWh to 300kWh power capacity batteries are widely used in medium EVs such as light commercial vehicles and utility vehicles. The adoption of these electric vehicles is increasing due to the rise in fuel prices and government initiatives to lower fleet emissions of logistics and public transportation. Also, the increasing launch of new EVs by automotive OEMs for electrification of logistics and public transport fleets and increasing adoption of electric vehicles by e-commerce companies such as Amazon and UPS are expected to support the growth of this market during the forecast period.

Based on bonding type, the Asia-Pacific EV batteries market is segmented into wire bonding and laser bonding. The laser bonding segment is expected to grow at the highest CAGR during the forecast period. The high growth rate of this segment is mainly attributed to the numerous advantages of laser-welded bonds, such as its ability to withstand higher currents, offer narrow welds, high welding speed, and low heat level, which is important for battery tab welding since the chemicals within the batteries are heat sensitive. Laser welding is a reliable technology to connect battery cells and achieve fast, automated, precise production of battery pack conductive joints. Lasers also offer the advantages of precision and non-contact welding, which can be adapted to fit small areas with low accessibility using a concentrated heat source.

Based on application, the Asia-Pacific EV batteries market is segmented into electric cars, light commercial vehicles, heavy commercial vehicles, e-scooters & motorcycles, and e-bikes. The light commercial vehicle segment is expected to grow at the highest CAGR during the forecast period. The high market growth of this segment is attributed to the increasing shift of retail MNCs and transport fleet operators to electric light commercial vehicles, growing awareness regarding the role of electric vehicles in reducing emissions, increase in demand for electric vehicles to reduce fleet emissions, and stringent government rules and regulations towards vehicle emissions. The mass production of batteries and the attractive tax incentives offered by governments have further brought down vehicle costs, making electric light commercial vehicles much more cost-effective.

Based on end user, the Asia-Pacific EV batteries market is segmented into electric vehicle OEMs and battery swapping stations. The battery swapping stations segment is expected to grow at the highest CAGR during the forecast period. The high growth rate of this segment is attributed to the benefits offered by battery swapping services, such as reduction of EV acquisition costs and increased battery lifespan. The increase in battery swapping services by various automotive start-up companies also contributes to the market growth of this segment. Also, other mobility stakeholders such as oil refining companies are partnering with e-mobility start-ups to set up battery swapping stations, which is expected to significantly boost the market growth of this segment.

Based on country, the Asia-Pacific EV batteries market is segmented into China, Japan, South Korea, Thailand, Indonesia, India, Taiwan, Philippines, Malaysia, Singapore, Australia, New Zealand, and the Rest of Asia-Pacific. Thailand is expected to witness the fastest market growth during the forecast period. The major factor attributed to this country's high market growth rate is the growing production of EV batteries through manufacturing plants operated by SAIC, Honda, Toyota, and Mercedes.

Indonesia is expected to hold the second position in terms of market growth rate during the forecast period. The factors attributed to the high market growth in this country are the availability of raw availability needed for EV batteries production and growing company initiatives for the development of EV batteries.

The key players operating in the Asia-Pacific EV batteries market are SK Innovations Co., Ltd. ( South Korea), LG Chem, Ltd (South Korea), Farasis Energy(GanZhou)Co., Ltd. (China), SVOLT Energy Technology Co., Ltd. (China), BYD Company Limited (China), Samsung SDI Co., Ltd. (South Korea), GS Yuasa International Ltd. (Japan), Vehicle Energy Japan Inc. (Japan), Contemporary Amperex Technology Co. Limited (CATL) (China), A123 Systems, LLC (China), Exide Industries Ltd. (India), Primearth EV Energy Co., Ltd. (Japan), and E-One Moli Energy Corp. (Taiwan).

Key Questions Answered in the Report

Which are the high-growth market segments in terms of type, capacity, bonding type, form, application, end-user, and country?
What is the historical market size for the Asia-Pacific EV batteries market?
What are the market forecasts and estimates for the period 2022–2029?
What are the major drivers, restraints, opportunities, and challenges in the Asia-Pacific EV batteries market?
Who are the major players in operating the market, and what share of the market do they hold?
How is the competitive landscape for the Asia-Pacific EV batteries market?
What are the recent developments in the Asia-Pacific EV batteries market?
What are the different strategies adopted by the major players operating in the market?
What are the key geographic trends, and which are the high-growth countries?
Who are the local emerging players in the Asia-Pacific EV batteries market, and how do they compete with the other players?

Scope of the Report

Asia-Pacific EV Batteries Market, by Type
Lithium-ion Batteries
Sealed Lead Acid Batteries
Nickel-Metal Hydride Batteries
Ultracapacitors
Solid-State Batteries
Other BatteriesAsia-Pacific EV Batteries Market, by Capacity
Less Than 50 kWh
51 kWh to 100 kWh
101 kWh to 300 kWh
More Than 300 kWh

Asia-Pacific EV Batteries Market, by Bonding Type

Wire Bonding
Laser Bonding

Asia-Pacific EV Batteries Market, by Form

Prismatic
Cylindrical
Pouch

Asia-Pacific EV Batteries Market, by Application

Electric Cars
Battery Electric Vehicles
Lithium-ion Batteries
Nickel-Metal Hydride Batteries
Ultracapacitors
Solid-state Batteries
Other Batteries
Plug-in Hybrid Electric Vehicles
Lithium-ion Batteries
Ultracapacitors
Solid-state Batteries
Other Batteries
Pure Hybrid Electric Vehicles
Lithium-ion Batteries
Nickel-Metal Hydride Batteries
Ultracapacitors
Solid-State Batteries
Other Batteries
Light Commercial Vehicles
Heavy Commercial Vehicles
E-scooters & Motorcycles
E-bikes

Asia-Pacific EV Batteries Market, by End User

Electric Vehicle OEMs
Battery Swapping Stations

Asia-Pacific EV Batteries Market, by Country

China
Japan
South Korea
Thailand
Indonesia
India
Taiwan
Philippines
Malaysia
Singapore
Australia
New Zealand
Rest of Asia-Pacific