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Asia-Pacific LFP Battery Pack Market Trends

Statistics for the 2023 & 2024 Asia-Pacific LFP Battery Pack market trends, created by Mordor Intelligence™ Industry Reports. Asia-Pacific LFP Battery Pack trend report includes a market forecast to 2029 and historical overview. Get a sample of this industry trends analysis as a free report PDF download.

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Market Trends of asia-pacific lfp battery pack Industry

A VARIETY OF AUTOMAKERS ARE PRESENT IN THE MARKET, MAJORLY DRIVEN BY TOYOTA, TESLA, AND WULING

  • The APAC electric vehicle market is bustling with numerous competitors, but its momentum is chiefly steered by five dominant corporations, collectively grasping over 50% of the 2022 market share. Leading the charge is BYD, securing a remarkable 20.93% of EV sales in the region. Its potent financial standing, coupled with its advanced R&D infrastructure, has positioned BYD as a powerhouse. The company's competitive pricing, coupled with its vast sales and after-sales network, effectively appeals to new consumers.
  • Following BYD, the Toyota Group clinches the second spot, with about 12.88% of the market. Its well-established reputation across the APAC region, bolstered by its extensive sales and service framework, instills trust among consumers, further cementing its footprint. Tesla claims the third position, seizing 8.27% of the market. Renowned for its avant-garde, tech-driven offerings, Tesla enjoys a seamless supply chain across nations, notably China and Australia.
  • Wuling comes in fourth, holding approximately 7.10% of the market. Operating under its parent company, Liuzhou Wuling Automobile Industry Co. Ltd, Wuling has carved a niche in countries like China and Indonesia, catering to a diverse clientele with its varied EV lineup. Rounding out the top five is Honda, with a 3.85% market share. Other notable contenders in the APAC EV market encompass brands like Nissan, Chery, Changan, and Neta, among others.
Asia-Pacific LFP Battery Pack Market

IN 2022, WULING, TESLA, AND BYD WERE THE BIGGEST BATTERY PACK DEMAND GENERATORS IN APAC

  • The electric vehicle landscape, encompassing cars, buses, and trucks, has witnessed a notable upswing across various Asian countries in the past few years. While the appetite for electric vehicles fluctuates across regions and nations, it is evident that SUVs have carved a niche in major markets like China, India, and Japan. As a direct reflection of Asia's growing preference for SUVs over traditional sedans, due to their enhanced utility and spaciousness, electric SUVs have seen a parallel surge across the Asia-Pacific belt.
  • Recent times have spotlighted a burgeoning affinity for compact SUVs among the Asian populace. Tesla's Model Y stands out with its all-electric drivetrain, sterling 5-star NCAP safety rating, seven-seat capacity, commendable range, and other features, making it a sought-after option in pivotal APAC markets, notably China. BYD's Song DM, with its competitive pricing and efficient fuel dynamics, has resonated well with customers across several Asian territories.
  • The year 2022 saw Tesla's Model 3 clinching accolades as one of the top sellers in the Asian domain, a testament to its purely electric mechanism, paired with an array of attractive functionalities. The dynamic APAC EV arena also presents a myriad of electric SUV and sedan alternatives from established global manufacturers. The year 2022 anticipated robust sales for vehicles like Toyota's Yaris Cross and BYD's Dolphin. Other players, such as the Toyota Corolla and Wuling's Hongguang MINIEV, also form a robust lineup in the APAC EV ecosystem.
Asia-Pacific LFP Battery Pack Market

OTHER KEY INDUSTRY TRENDS COVERED IN THE REPORT

  • GOVERNMENT INITIATIVES AND COMMERCIAL VEHICLE ELECTRIFICATION ARE RAPIDLY DRIVING THE DEMAND AND SALES OF EVS IN ASIA-PACIFIC
  • THE DEMAND FOR EVS IN ASIA-PACIFIC IS FUELED BY FALLING BATTERY PRICES
  • INCREASING GOVERNMENT SUPPORT FOR ELECTRIC VEHICLES IN ASIA-PACIFIC CAUSED PRICES TO DROP
  • DEMAND FOR ELECTRIC VEHICLES DRIVES INTERNATIONAL AUTOMAKERS TO LAUNCH NEW PRODUCTS, EXPANDING THE ASIA-PACIFIC EV BATTERY PACK MARKET
  • RISING POPULARITY OF LFP BATTERIES IN ASIAN COUNTRIES IS AIDING THE MARKET
  • THE LFP BATTERIES SEGMENT HEADS THE ASIA-PACIFIC ELECTRIC VEHICLE BATTERY DEMAND
  • RISING ELECTRIC VEHICLE DEMAND AND ADVANCEMENTS IN BATTERY TECHNOLOGY DRIVE GROWTH IN THE ASIA-PACIFIC REGION

Asia-Pacific LFP Battery Pack Market Report - Table of Contents

  1. 1. EXECUTIVE SUMMARY & KEY FINDINGS

  2. 2. REPORT OFFERS

  3. 3. INTRODUCTION

    1. 3.1 Study Assumptions & Market Definition

    2. 3.2 Scope of the Study​

    3. 3.3 Research Methodology

  4. 4. KEY INDUSTRY TRENDS

    1. 4.1 Electric Vehicle Sales

    2. 4.2 Electric Vehicle Sales By OEMs

    3. 4.3 Best-selling EV Models

    4. 4.4 OEMs With Preferable Battery Chemistry

    5. 4.5 Battery Pack Price

    6. 4.6 Battery Material Cost

    7. 4.7 Price Chart Of Different Battery Chemistry

    8. 4.8 Who Supply Whom

    9. 4.9 EV Battery Capacity And Efficiency

    10. 4.10 Number Of EV Models Launched

    11. 4.11 Regulatory Framework

      1. 4.11.1 China

      2. 4.11.2 India

      3. 4.11.3 Indonesia

      4. 4.11.4 Japan

      5. 4.11.5 Thailand

    12. 4.12 Value Chain & Distribution Channel Analysis

  5. 5. MARKET SEGMENTATION (includes market size in Value in USD and Volume, Forecasts up to 2029 and analysis of growth prospects)

    1. 5.1 Body Type

      1. 5.1.1 Bus

      2. 5.1.2 LCV

      3. 5.1.3 M&HDT

      4. 5.1.4 Passenger Car

    2. 5.2 Propulsion Type

      1. 5.2.1 BEV

      2. 5.2.2 PHEV

    3. 5.3 Capacity

      1. 5.3.1 15 kWh to 40 kWh

      2. 5.3.2 40 kWh to 80 kWh

      3. 5.3.3 Above 80 kWh

      4. 5.3.4 Less than 15 kWh

    4. 5.4 Battery Form

      1. 5.4.1 Cylindrical

      2. 5.4.2 Pouch

      3. 5.4.3 Prismatic

    5. 5.5 Method

      1. 5.5.1 Laser

      2. 5.5.2 Wire

    6. 5.6 Component

      1. 5.6.1 Anode

      2. 5.6.2 Cathode

      3. 5.6.3 Electrolyte

      4. 5.6.4 Separator

    7. 5.7 Material Type

      1. 5.7.1 Lithium

      2. 5.7.2 Natural Graphite

      3. 5.7.3 Other Materials

    8. 5.8 Country

      1. 5.8.1 China

      2. 5.8.2 India

      3. 5.8.3 Japan

      4. 5.8.4 South Korea

      5. 5.8.5 Thailand

      6. 5.8.6 Rest-of-Asia-Pacific

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Key Strategic Moves

    2. 6.2 Market Share Analysis

    3. 6.3 Company Landscape

    4. 6.4 Company Profiles

      1. 6.4.1 BYD Company Ltd.

      2. 6.4.2 Contemporary Amperex Technology Co. Ltd. (CATL)

      3. 6.4.3 EVE Energy Co. Ltd.

      4. 6.4.4 Exide Industries Ltd.

      5. 6.4.5 Farasis Energy (Ganzhou) Co. Ltd.

      6. 6.4.6 FinDreams Battery Co. Ltd.

      7. 6.4.7 Gotion High-Tech Co. Ltd.

      8. 6.4.8 GS Yuasa International Ltd.

      9. 6.4.9 Leapmotor (Jinhua) New Energy Vehicle Parts Technology Co., Ltd.

      10. 6.4.10 LG Energy Solution Ltd.

      11. 6.4.11 Panasonic Holdings Corporation

      12. 6.4.12 Resonac Holdings Corporation

      13. 6.4.13 SAIC Volkswagen Power Battery Co. Ltd.

      14. 6.4.14 Samsung SDI Co. Ltd.

      15. 6.4.15 SK Innovation Co. Ltd.

      16. 6.4.16 SVOLT Energy Technology Co. Ltd. (SVOLT)

      17. 6.4.17 Tesla Inc.

  7. 7. KEY STRATEGIC QUESTIONS FOR EV BATTERY PACK CEOS

  8. 8. APPENDIX

    1. 8.1 Global Overview

      1. 8.1.1 Overview

      2. 8.1.2 Porter’s Five Forces Framework

      3. 8.1.3 Global Value Chain Analysis

      4. 8.1.4 Market Dynamics (DROs)

    2. 8.2 Sources & References

    3. 8.3 List of Tables & Figures

    4. 8.4 Primary Insights

    5. 8.5 Data Pack

    6. 8.6 Glossary of Terms

Asia-Pacific LFP Battery Pack Market Report Snapshots