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Asia-Pacific NMC Battery Pack Market SIZE & SHARE ANALYSIS - GROWTH TRENDS & FORECASTS UP TO 2029

The Asia-Pacific NMC Battery Pack Market is segmented by Body Type (Bus, LCV, M&HDT, Passenger Car), by Propulsion Type (BEV, PHEV), by Capacity (15 kWh to 40 kWh, 40 kWh to 80 kWh, Above 80 kWh, Less than 15 kWh), by Battery Form (Cylindrical, Pouch, Prismatic), by Method (Laser, Wire), by Component (Anode, Cathode, Electrolyte, Separator), by Material Type (Cobalt, Lithium, Manganese, Natural Graphite, Nickel) and by Country (China, India, Japan, South Korea, Thailand, Rest-of-Asia-Pacific). Market Size is represented by the total volume of EV battery packs sold, measured in kilowatt-hours (kWh), along with the Market Value in USD. Key data points observed include the total energy capacity of battery packs sold, expressed in kilowatt-hours (kWh), segmented by battery chemistry, the capacity range of each battery pack, and the specific application or vehicle type associated with each battery chemistry segment.

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Asia-Pacific NMC Battery Pack Market Size

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Asia-Pacific NMC Battery Pack Market Summary
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https://s3.mordorintelligence.com/study%20period/1629296433432_test~study_period_study_period.svg Study Period 2017 - 2029
https://s3.mordorintelligence.com/cagr/1629296433433_test~cagr_cagr.svg Market Size (2024) USD 16.66 Billion
https://s3.mordorintelligence.com/cagr/1629296433433_test~cagr_cagr.svg Market Size (2029) USD 25.97 Billion
https://s3.mordorintelligence.com/hydraulic_fluids/1629285650767_test~hydraulic_fluids_hydraulic_fluids.svg Largest Share by Propulsion Type BEV
https://s3.mordorintelligence.com/cagr/1629296433433_test~cagr_cagr.svg CAGR (2024 - 2029) 9.28 %
https://s3.mordorintelligence.com/globe/1629285706162_test~globe_globe.svg Largest Share by Country Japan

Major Players
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*Disclaimer: Major Players sorted in alphabetical order.

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Asia-Pacific NMC Battery Pack Market Analysis

The Asia-Pacific NMC Battery Pack Market size is estimated at 16.66 billion USD in 2024, and is expected to reach 25.97 billion USD by 2029, growing at a CAGR of 9.28% during the forecast period (2024-2029).

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16.66 Billion

Market Size in 2024 (USD)

25.97 Billion

Market Size in 2029 (USD)

14.79 %

CAGR (2017-2023)

9.28 %

CAGR (2024-2029)

Largest Segment by Body Type

86.66 %

value share, Passenger Car, 2023

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Passenger car are the most popular body type in APAC NCM battery packs sales due to reasonable prices, government subsidies, benefits over petrol cars, etc.

Largest Segment by Propulsion Type

89.31 %

value share, BEV, 2023

Icon image

BEVs dominate the APAC NCM battery pack market owing to their cheap cost, minimal maintenance, little carbon impact, and no fuel expenditures.

Largest Segment by Battery Form

99.59 %

value share, Prismatic, 2023

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Due to its cheap cost, high safety rating, simplicity, and density, prismatic cells are majorly used in APAC NMC battery packs market.

Leading Market Player

17 %

market share, BYD Company Ltd., 2022

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Due to its wide reach, great production capability, and large Asian exports, BYD dominates APAC NMC battery packs market.

Largest Segment by Capacity

82.25 %

value share, 15 kWh to 40 kWh, 2023

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Usage of this capacity batteries in the affordable electric cars (have most of the sales in all EVs) has acquired majority of share in the APAC NMC battery packs market.

Growing demand for NCM batteries in APAC due to government regulations and increase in BEV and PHEV markets, with Asia-based producers such as CATL, LG Chem, and Samsung SDI Leading the charge

  • The demand for different types of batteries has increased as a result of the rapid growth of electric mobility in numerous APAC nations over the past few years. Few automakers are choosing NCM batteries for BEV and PHEV models, although the battery type is still in the early stages of deployment to vehicles compared to other batteries like LFP and NMC. Due to government regulations that are strict and the impending prohibition on fossil fuel vehicles, more individuals are choosing BEVs and PHEVs. These considerations have led to a small increase in the NCM battery type in a few vehicles in the APAC region from 2017 to 2021.
  • Japan and China are among the countries with a growing demand for NCM batteries for PHEV and BEV in Asia-Pacific. In addition, some of the leading producers of NCM batteries, such as CATL, LG Chem, and Samsung SDI, are from Asia. The demand for BEV and PHEV is rising gradually in various countries, including India, Thailand, and South Korea, which has also helped to increase the demand for NCM batteries throughout the APAC region. As a result, the regional market for NCM batteries used in electric vehicles increased in 2022 over 2021.
  • Various automakers are launching new products which are expected to enhance the battery industry. In February 2023, Chinese automaker BYD unveiled the 2023 model Tang, which is equipped with a plug-in hybrid system powered by the NCM battery pack. Such launches in other countries are expected to accelerate the demand and sales of NCM batteries in BEV and PHEV during the forecast period in the region.
Asia-Pacific NMC Battery Pack Market

Japan, South Korea, India, and Thailand contribute to the expansion of the Asia-Pacific NCM battery pack market

  • Asia-Pacific presents a thriving market for battery packs, driven by factors such as government support, strong domestic demand, and a focus on electric vehicle adoption. As the demand for electric vehicles continues to rise and technology advancements in battery packs continue, Asia-Pacific is expected to play a pivotal role in shaping the future of the global electric vehicle industry.
  • China stands out as a dominant player in the battery pack market, with consistently high market values. China's rapid growth can be attributed to several factors, including government support for electric vehicles, a large consumer market, and a robust domestic manufacturing ecosystem. The country has made substantial investments in electric vehicle production, leading to increased demand for battery packs.
  • Japan and South Korea also contribute significantly to the Asia-Pacific battery pack market. Both countries have experienced steady growth in market value over the years. These countries have well-established automotive industries, technological expertise, and strong government support for EV adoption, driving the demand for battery packs. India's battery pack market is gaining momentum as the country focuses on electric vehicle adoption and renewable energy targets. With supportive government policies and increasing consumer awareness, the demand for battery packs is on the rise. Additionally, Thailand's commitment to becoming a regional leader in electric mobility presents ample opportunities for the growth of the battery pack market.

Asia-Pacific NMC Battery Pack Market Trends

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 NMC 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 NMC 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 NMC Battery Pack Industry Overview

The Asia-Pacific NMC Battery Pack Market is fragmented, with the top five companies occupying 25.91%. The major players in this market are BYD Company Ltd., LG Energy Solution Ltd., Panasonic Holdings Corporation, SK Innovation Co. Ltd. and Tesla Inc. (sorted alphabetically).

Asia-Pacific NMC Battery Pack Market Leaders

  1. BYD Company Ltd.

  2. LG Energy Solution Ltd.

  3. Panasonic Holdings Corporation

  4. SK Innovation Co. Ltd.

  5. Tesla Inc.

Asia-Pacific NMC Battery Pack Market Concentration

Other important companies include Contemporary Amperex Technology Co. Ltd. (CATL), EVE Energy Co. Ltd., Exide Industries Ltd., Gotion High-Tech Co. Ltd., GS Yuasa International Ltd., Hebei Chinaust Automotive Plastics Co. Ltd., Ningbo Tuopu Group Co. Ltd., Resonac Holdings Corporation, Samsung SDI Co. Ltd., SVOLT Energy Technology Co. Ltd. (SVOLT).

*Disclaimer: Major Players sorted in alphabetical order.

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Our comprehensive data set offers over 120 free charts, providing detailed regional and country-level insights into the EV battery pack industry. This includes analyses of distribution and production centers, variations in average selling prices (ASPs) across different regions, and a deep dive into industry trends like demand shifts and technological innovations. We also offer a thorough market segmentation, examining different battery chemistries, capacities, and form factors, alongside an in-depth understanding of market trends such as the adoption of advanced technologies and the impact of environmental regulations. Additionally, we provide an overview of major industry players, a look at the regulatory landscape, and market size analysis in terms of revenue and volume, all culminating in projections and forecasts that consider emerging trends and potential industry shifts.

Asia-Pacific NMC Battery Pack Market
Asia-Pacific NMC Battery Pack Market
Asia-Pacific NMC Battery Pack Market
Asia-Pacific NMC Battery Pack Market

Asia-Pacific NMC 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 Cobalt

      2. 5.7.2 Lithium

      3. 5.7.3 Manganese

      4. 5.7.4 Natural Graphite

      5. 5.7.5 Nickel

      6. 5.7.6 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 Gotion High-Tech Co. Ltd.

      6. 6.4.6 GS Yuasa International Ltd.

      7. 6.4.7 Hebei Chinaust Automotive Plastics Co. Ltd.

      8. 6.4.8 LG Energy Solution Ltd.

      9. 6.4.9 Ningbo Tuopu Group Co. Ltd.

      10. 6.4.10 Panasonic Holdings Corporation

      11. 6.4.11 Resonac Holdings Corporation

      12. 6.4.12 Samsung SDI Co. Ltd.

      13. 6.4.13 SK Innovation Co. Ltd.

      14. 6.4.14 SVOLT Energy Technology Co. Ltd. (SVOLT)

      15. 6.4.15 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

List of Tables & Figures

  1. Figure 1:  
  2. ELECTRIC VEHICLE SALES, BY BODY TYPE, UNITS, ASIA-PACIFIC, 2017 - 2029
  1. Figure 2:  
  2. ELECTRIC VEHICLE SALES, BY MAJOR OEMS, UNITS, ASIA-PACIFIC, 2023
  1. Figure 3:  
  2. ELECTRIC VEHICLE SALES, BY MAJOR OEMS, UNITS, ASIA-PACIFIC, 2023
  1. Figure 4:  
  2. BEST-SELLING EV MODELS, UNITS, ASIA-PACIFIC, 2023
  1. Figure 5:  
  2. OEMS MARKET SHARE BY ELECTRIC VEHICLE BATTERY CHEMISTRY, VOLUME %, ASIA-PACIFIC, 2023
  1. Figure 6:  
  2. ELECTRIC VEHICLE BATTERY CELL AND PACK PRICE, USD, ASIA-PACIFIC, 2017 - 2029
  1. Figure 7:  
  2. ELECTRIC VEHICLE KEY BATTERY MATERIAL PRICE, BY MATERIAL, USD, ASIA-PACIFIC, 2017 - 2029
  1. Figure 8:  
  2. ELECTRIC VEHICLE BATTERY PRICE, BY BATTERY CHEMISTRY, USD, ASIA-PACIFIC, 2017 - 2029
  1. Figure 9:  
  2. EV BATTERY PACK CAPACITY AND EFFICIENCY, KM/KWH, ASIA-PACIFIC, 2023
  1. Figure 10:  
  2. UPCOMING EV MODELS, BY BODY TYPE, UNITS, ASIA-PACIFIC, 2023
  1. Figure 11:  
  2. BREAKDOWN OF ASIA-PACIFIC NMC BATTERY PACK MARKET, KWH, ASIA-PACIFIC, 2017 - 2029
  1. Figure 12:  
  2. BREAKDOWN OF ASIA-PACIFIC NMC BATTERY PACK MARKET, USD, ASIA-PACIFIC, 2017 - 2029
  1. Figure 13:  
  2. BREAKDOWN OF ASIA-PACIFIC NMC BATTERY PACK MARKET, BY BODY TYPE, KWH, ASIA-PACIFIC, 2017 - 2029
  1. Figure 14:  
  2. BREAKDOWN OF ASIA-PACIFIC NMC BATTERY PACK MARKET, BY BODY TYPE, USD, ASIA-PACIFIC, 2017 - 2029
  1. Figure 15:  
  2. BREAKDOWN OF ASIA-PACIFIC NMC BATTERY PACK MARKET, BODY TYPE, VOLUME SHARE (%), ASIA-PACIFIC, 2022 & 2029
  1. Figure 16:  
  2. BREAKDOWN OF ASIA-PACIFIC NMC BATTERY PACK MARKET, BODY TYPE, VALUE SHARE (%), ASIA-PACIFIC, 2022 & 2029
  1. Figure 17:  
  2. BREAKDOWN OF ASIA-PACIFIC NMC BATTERY PACK MARKET, BY BUS, KWH, ASIA-PACIFIC, 2017 - 2029
  1. Figure 18:  
  2. BREAKDOWN OF ASIA-PACIFIC NMC BATTERY PACK MARKET, BY BUS, USD, ASIA-PACIFIC, 2017 - 2029
  1. Figure 19:  
  2. BREAKDOWN OF ASIA-PACIFIC NMC BATTERY PACK MARKET, PROPULSION TYPE, VALUE SHARE (%), ASIA-PACIFIC, 2017-2029
  1. Figure 20:  
  2. BREAKDOWN OF ASIA-PACIFIC NMC BATTERY PACK MARKET, BY LCV, KWH, ASIA-PACIFIC, 2017 - 2029
  1. Figure 21:  
  2. BREAKDOWN OF ASIA-PACIFIC NMC BATTERY PACK MARKET, BY LCV, USD, ASIA-PACIFIC, 2017 - 2029
  1. Figure 22:  
  2. BREAKDOWN OF ASIA-PACIFIC NMC BATTERY PACK MARKET, PROPULSION TYPE, VALUE SHARE (%), ASIA-PACIFIC, 2017-2029
  1. Figure 23:  
  2. BREAKDOWN OF ASIA-PACIFIC NMC BATTERY PACK MARKET, BY M&HDT, KWH, ASIA-PACIFIC, 2017 - 2029
  1. Figure 24:  
  2. BREAKDOWN OF ASIA-PACIFIC NMC BATTERY PACK MARKET, BY M&HDT, USD, ASIA-PACIFIC, 2017 - 2029
  1. Figure 25:  
  2. BREAKDOWN OF ASIA-PACIFIC NMC BATTERY PACK MARKET, PROPULSION TYPE, VALUE SHARE (%), ASIA-PACIFIC, 2017-2029
  1. Figure 26:  
  2. BREAKDOWN OF ASIA-PACIFIC NMC BATTERY PACK MARKET, BY PASSENGER CAR, KWH, ASIA-PACIFIC, 2017 - 2029
  1. Figure 27:  
  2. BREAKDOWN OF ASIA-PACIFIC NMC BATTERY PACK MARKET, BY PASSENGER CAR, USD, ASIA-PACIFIC, 2017 - 2029
  1. Figure 28:  
  2. BREAKDOWN OF ASIA-PACIFIC NMC BATTERY PACK MARKET, PROPULSION TYPE, VALUE SHARE (%), ASIA-PACIFIC, 2017-2029
  1. Figure 29:  
  2. BREAKDOWN OF ASIA-PACIFIC NMC BATTERY PACK MARKET, BY PROPULSION TYPE, KWH, ASIA-PACIFIC, 2017 - 2029
  1. Figure 30:  
  2. BREAKDOWN OF ASIA-PACIFIC NMC BATTERY PACK MARKET, BY PROPULSION TYPE, USD, ASIA-PACIFIC, 2017 - 2029
  1. Figure 31:  
  2. BREAKDOWN OF ASIA-PACIFIC NMC BATTERY PACK MARKET, PROPULSION TYPE, VOLUME SHARE (%), ASIA-PACIFIC, 2022 & 2029
  1. Figure 32:  
  2. BREAKDOWN OF ASIA-PACIFIC NMC BATTERY PACK MARKET, PROPULSION TYPE, VALUE SHARE (%), ASIA-PACIFIC, 2022 & 2029
  1. Figure 33:  
  2. BREAKDOWN OF ASIA-PACIFIC NMC BATTERY PACK MARKET, BY BEV, KWH, ASIA-PACIFIC, 2017 - 2029
  1. Figure 34:  
  2. BREAKDOWN OF ASIA-PACIFIC NMC BATTERY PACK MARKET, BY BEV, USD, ASIA-PACIFIC, 2017 - 2029
  1. Figure 35:  
  2. BREAKDOWN OF ASIA-PACIFIC NMC BATTERY PACK MARKET, BODY TYPE, VALUE SHARE (%), ASIA-PACIFIC, 2017-2029
  1. Figure 36:  
  2. BREAKDOWN OF ASIA-PACIFIC NMC BATTERY PACK MARKET, BY PHEV, KWH, ASIA-PACIFIC, 2017 - 2029
  1. Figure 37:  
  2. BREAKDOWN OF ASIA-PACIFIC NMC BATTERY PACK MARKET, BY PHEV, USD, ASIA-PACIFIC, 2017 - 2029
  1. Figure 38:  
  2. BREAKDOWN OF ASIA-PACIFIC NMC BATTERY PACK MARKET, BODY TYPE, VALUE SHARE (%), ASIA-PACIFIC, 2017-2029
  1. Figure 39:  
  2. BREAKDOWN OF ASIA-PACIFIC NMC BATTERY PACK MARKET, BY CAPACITY, KWH, ASIA-PACIFIC, 2017 - 2029
  1. Figure 40:  
  2. BREAKDOWN OF ASIA-PACIFIC NMC BATTERY PACK MARKET, BY CAPACITY, USD, ASIA-PACIFIC, 2017 - 2029
  1. Figure 41:  
  2. BREAKDOWN OF ASIA-PACIFIC NMC BATTERY PACK MARKET, CAPACITY, VOLUME SHARE (%), ASIA-PACIFIC, 2022 & 2029
  1. Figure 42:  
  2. BREAKDOWN OF ASIA-PACIFIC NMC BATTERY PACK MARKET, CAPACITY, VALUE SHARE (%), ASIA-PACIFIC, 2022 & 2029
  1. Figure 43:  
  2. BREAKDOWN OF ASIA-PACIFIC NMC BATTERY PACK MARKET, BY 15 KWH TO 40 KWH, KWH, ASIA-PACIFIC, 2017 - 2029
  1. Figure 44:  
  2. BREAKDOWN OF ASIA-PACIFIC NMC BATTERY PACK MARKET, BY 15 KWH TO 40 KWH, USD, ASIA-PACIFIC, 2017 - 2029
  1. Figure 45:  
  2. BREAKDOWN OF ASIA-PACIFIC NMC BATTERY PACK MARKET, BODY TYPE, VALUE SHARE (%), ASIA-PACIFIC, 2017-2029
  1. Figure 46:  
  2. BREAKDOWN OF ASIA-PACIFIC NMC BATTERY PACK MARKET, BY 40 KWH TO 80 KWH, KWH, ASIA-PACIFIC, 2017 - 2029
  1. Figure 47:  
  2. BREAKDOWN OF ASIA-PACIFIC NMC BATTERY PACK MARKET, BY 40 KWH TO 80 KWH, USD, ASIA-PACIFIC, 2017 - 2029
  1. Figure 48:  
  2. BREAKDOWN OF ASIA-PACIFIC NMC BATTERY PACK MARKET, BODY TYPE, VALUE SHARE (%), ASIA-PACIFIC, 2017-2029
  1. Figure 49:  
  2. BREAKDOWN OF ASIA-PACIFIC NMC BATTERY PACK MARKET, BY ABOVE 80 KWH, KWH, ASIA-PACIFIC, 2017 - 2029
  1. Figure 50:  
  2. BREAKDOWN OF ASIA-PACIFIC NMC BATTERY PACK MARKET, BY ABOVE 80 KWH, USD, ASIA-PACIFIC, 2017 - 2029
  1. Figure 51:  
  2. BREAKDOWN OF ASIA-PACIFIC NMC BATTERY PACK MARKET, BODY TYPE, VALUE SHARE (%), ASIA-PACIFIC, 2017-2029
  1. Figure 52:  
  2. BREAKDOWN OF ASIA-PACIFIC NMC BATTERY PACK MARKET, BY LESS THAN 15 KWH, KWH, ASIA-PACIFIC, 2017 - 2029
  1. Figure 53:  
  2. BREAKDOWN OF ASIA-PACIFIC NMC BATTERY PACK MARKET, BY LESS THAN 15 KWH, USD, ASIA-PACIFIC, 2017 - 2029
  1. Figure 54:  
  2. BREAKDOWN OF ASIA-PACIFIC NMC BATTERY PACK MARKET, BODY TYPE, VALUE SHARE (%), ASIA-PACIFIC, 2017-2029
  1. Figure 55:  
  2. BREAKDOWN OF ASIA-PACIFIC NMC BATTERY PACK MARKET, BY BATTERY FORM, KWH, ASIA-PACIFIC, 2017 - 2029
  1. Figure 56:  
  2. BREAKDOWN OF ASIA-PACIFIC NMC BATTERY PACK MARKET, BY BATTERY FORM, USD, ASIA-PACIFIC, 2017 - 2029
  1. Figure 57:  
  2. BREAKDOWN OF ASIA-PACIFIC NMC BATTERY PACK MARKET, BATTERY FORM, VOLUME SHARE (%), ASIA-PACIFIC, 2022 & 2029
  1. Figure 58:  
  2. BREAKDOWN OF ASIA-PACIFIC NMC BATTERY PACK MARKET, BATTERY FORM, VALUE SHARE (%), ASIA-PACIFIC, 2022 & 2029
  1. Figure 59:  
  2. BREAKDOWN OF ASIA-PACIFIC NMC BATTERY PACK MARKET, BY CYLINDRICAL, KWH, ASIA-PACIFIC, 2017 - 2029
  1. Figure 60:  
  2. BREAKDOWN OF ASIA-PACIFIC NMC BATTERY PACK MARKET, BY CYLINDRICAL, USD, ASIA-PACIFIC, 2017 - 2029
  1. Figure 61:  
  2. BREAKDOWN OF ASIA-PACIFIC NMC BATTERY PACK MARKET, BODY TYPE, VALUE SHARE (%), ASIA-PACIFIC, 2017-2029
  1. Figure 62:  
  2. BREAKDOWN OF ASIA-PACIFIC NMC BATTERY PACK MARKET, BY POUCH, KWH, ASIA-PACIFIC, 2017 - 2029
  1. Figure 63:  
  2. BREAKDOWN OF ASIA-PACIFIC NMC BATTERY PACK MARKET, BY POUCH, USD, ASIA-PACIFIC, 2017 - 2029
  1. Figure 64:  
  2. BREAKDOWN OF ASIA-PACIFIC NMC BATTERY PACK MARKET, BODY TYPE, VALUE SHARE (%), ASIA-PACIFIC, 2017-2029
  1. Figure 65:  
  2. BREAKDOWN OF ASIA-PACIFIC NMC BATTERY PACK MARKET, BY PRISMATIC, KWH, ASIA-PACIFIC, 2017 - 2029
  1. Figure 66:  
  2. BREAKDOWN OF ASIA-PACIFIC NMC BATTERY PACK MARKET, BY PRISMATIC, USD, ASIA-PACIFIC, 2017 - 2029
  1. Figure 67:  
  2. BREAKDOWN OF ASIA-PACIFIC NMC BATTERY PACK MARKET, BODY TYPE, VALUE SHARE (%), ASIA-PACIFIC, 2017-2029
  1. Figure 68:  
  2. BREAKDOWN OF ASIA-PACIFIC NMC BATTERY PACK MARKET, BY METHOD, KWH, ASIA-PACIFIC, 2017 - 2029
  1. Figure 69:  
  2. BREAKDOWN OF ASIA-PACIFIC NMC BATTERY PACK MARKET, BY METHOD, USD, ASIA-PACIFIC, 2017 - 2029
  1. Figure 70:  
  2. BREAKDOWN OF ASIA-PACIFIC NMC BATTERY PACK MARKET, METHOD, VOLUME SHARE (%), ASIA-PACIFIC, 2022 & 2029
  1. Figure 71:  
  2. BREAKDOWN OF ASIA-PACIFIC NMC BATTERY PACK MARKET, METHOD, VALUE SHARE (%), ASIA-PACIFIC, 2022 & 2029
  1. Figure 72:  
  2. BREAKDOWN OF ASIA-PACIFIC NMC BATTERY PACK MARKET, BY LASER, KWH, ASIA-PACIFIC, 2017 - 2029
  1. Figure 73:  
  2. BREAKDOWN OF ASIA-PACIFIC NMC BATTERY PACK MARKET, BY LASER, USD, ASIA-PACIFIC, 2017 - 2029
  1. Figure 74:  
  2. BREAKDOWN OF ASIA-PACIFIC NMC BATTERY PACK MARKET, BODY TYPE, VALUE SHARE (%), ASIA-PACIFIC, 2017-2029
  1. Figure 75:  
  2. BREAKDOWN OF ASIA-PACIFIC NMC BATTERY PACK MARKET, BY WIRE, KWH, ASIA-PACIFIC, 2017 - 2029
  1. Figure 76:  
  2. BREAKDOWN OF ASIA-PACIFIC NMC BATTERY PACK MARKET, BY WIRE, USD, ASIA-PACIFIC, 2017 - 2029
  1. Figure 77:  
  2. BREAKDOWN OF ASIA-PACIFIC NMC BATTERY PACK MARKET, BODY TYPE, VALUE SHARE (%), ASIA-PACIFIC, 2017-2029
  1. Figure 78:  
  2. BREAKDOWN OF ASIA-PACIFIC NMC BATTERY PACK MARKET, BY COMPONENT, UNITS, ASIA-PACIFIC, 2017 - 2029
  1. Figure 79:  
  2. BREAKDOWN OF ASIA-PACIFIC NMC BATTERY PACK MARKET, BY COMPONENT, USD, ASIA-PACIFIC, 2017 - 2029
  1. Figure 80:  
  2. BREAKDOWN OF ASIA-PACIFIC NMC BATTERY PACK MARKET, COMPONENT, VOLUME SHARE (%), ASIA-PACIFIC, 2022 & 2029
  1. Figure 81:  
  2. BREAKDOWN OF ASIA-PACIFIC NMC BATTERY PACK MARKET, COMPONENT, VALUE SHARE (%), ASIA-PACIFIC, 2022 & 2029
  1. Figure 82:  
  2. BREAKDOWN OF ASIA-PACIFIC NMC BATTERY PACK MARKET, BY ANODE, UNITS, ASIA-PACIFIC, 2017 - 2029
  1. Figure 83:  
  2. BREAKDOWN OF ASIA-PACIFIC NMC BATTERY PACK MARKET, BY ANODE, USD, ASIA-PACIFIC, 2017 - 2029
  1. Figure 84:  
  2. BREAKDOWN OF ASIA-PACIFIC NMC BATTERY PACK MARKET, BODY TYPE, VALUE SHARE (%), ASIA-PACIFIC, 2017-2029
  1. Figure 85:  
  2. BREAKDOWN OF ASIA-PACIFIC NMC BATTERY PACK MARKET, BY CATHODE, UNITS, ASIA-PACIFIC, 2017 - 2029
  1. Figure 86:  
  2. BREAKDOWN OF ASIA-PACIFIC NMC BATTERY PACK MARKET, BY CATHODE, USD, ASIA-PACIFIC, 2017 - 2029
  1. Figure 87:  
  2. BREAKDOWN OF ASIA-PACIFIC NMC BATTERY PACK MARKET, BODY TYPE, VALUE SHARE (%), ASIA-PACIFIC, 2017-2029
  1. Figure 88:  
  2. BREAKDOWN OF ASIA-PACIFIC NMC BATTERY PACK MARKET, BY ELECTROLYTE, UNITS, ASIA-PACIFIC, 2017 - 2029
  1. Figure 89:  
  2. BREAKDOWN OF ASIA-PACIFIC NMC BATTERY PACK MARKET, BY ELECTROLYTE, USD, ASIA-PACIFIC, 2017 - 2029
  1. Figure 90:  
  2. BREAKDOWN OF ASIA-PACIFIC NMC BATTERY PACK MARKET, BODY TYPE, VALUE SHARE (%), ASIA-PACIFIC, 2017-2029
  1. Figure 91:  
  2. BREAKDOWN OF ASIA-PACIFIC NMC BATTERY PACK MARKET, BY SEPARATOR, UNITS, ASIA-PACIFIC, 2017 - 2029
  1. Figure 92:  
  2. BREAKDOWN OF ASIA-PACIFIC NMC BATTERY PACK MARKET, BY SEPARATOR, USD, ASIA-PACIFIC, 2017 - 2029
  1. Figure 93:  
  2. BREAKDOWN OF ASIA-PACIFIC NMC BATTERY PACK MARKET, BODY TYPE, VALUE SHARE (%), ASIA-PACIFIC, 2017-2029
  1. Figure 94:  
  2. BREAKDOWN OF ASIA-PACIFIC NMC BATTERY PACK MARKET, BY MATERIAL TYPE, KG, ASIA-PACIFIC, 2017 - 2029
  1. Figure 95:  
  2. BREAKDOWN OF ASIA-PACIFIC NMC BATTERY PACK MARKET, BY MATERIAL TYPE, USD, ASIA-PACIFIC, 2017 - 2029
  1. Figure 96:  
  2. BREAKDOWN OF ASIA-PACIFIC NMC BATTERY PACK MARKET, MATERIAL TYPE, VOLUME SHARE (%), ASIA-PACIFIC, 2022 & 2029
  1. Figure 97:  
  2. BREAKDOWN OF ASIA-PACIFIC NMC BATTERY PACK MARKET, MATERIAL TYPE, VALUE SHARE (%), ASIA-PACIFIC, 2022 & 2029
  1. Figure 98:  
  2. BREAKDOWN OF ASIA-PACIFIC NMC BATTERY PACK MARKET, BY COBALT, KG, ASIA-PACIFIC, 2017 - 2029
  1. Figure 99:  
  2. BREAKDOWN OF ASIA-PACIFIC NMC BATTERY PACK MARKET, BY COBALT, USD, ASIA-PACIFIC, 2017 - 2029
  1. Figure 100:  
  2. BREAKDOWN OF ASIA-PACIFIC NMC BATTERY PACK MARKET, BODY TYPE, VALUE SHARE (%), ASIA-PACIFIC, 2017-2029
  1. Figure 101:  
  2. BREAKDOWN OF ASIA-PACIFIC NMC BATTERY PACK MARKET, BY LITHIUM, KG, ASIA-PACIFIC, 2017 - 2029
  1. Figure 102:  
  2. BREAKDOWN OF ASIA-PACIFIC NMC BATTERY PACK MARKET, BY LITHIUM, USD, ASIA-PACIFIC, 2017 - 2029
  1. Figure 103:  
  2. BREAKDOWN OF ASIA-PACIFIC NMC BATTERY PACK MARKET, BODY TYPE, VALUE SHARE (%), ASIA-PACIFIC, 2017-2029
  1. Figure 104:  
  2. BREAKDOWN OF ASIA-PACIFIC NMC BATTERY PACK MARKET, BY MANGANESE, KG, ASIA-PACIFIC, 2017 - 2029
  1. Figure 105:  
  2. BREAKDOWN OF ASIA-PACIFIC NMC BATTERY PACK MARKET, BY MANGANESE, USD, ASIA-PACIFIC, 2017 - 2029
  1. Figure 106:  
  2. BREAKDOWN OF ASIA-PACIFIC NMC BATTERY PACK MARKET, BODY TYPE, VALUE SHARE (%), ASIA-PACIFIC, 2017-2029
  1. Figure 107:  
  2. BREAKDOWN OF ASIA-PACIFIC NMC BATTERY PACK MARKET, BY NATURAL GRAPHITE, KG, ASIA-PACIFIC, 2017 - 2029
  1. Figure 108:  
  2. BREAKDOWN OF ASIA-PACIFIC NMC BATTERY PACK MARKET, BY NATURAL GRAPHITE, USD, ASIA-PACIFIC, 2017 - 2029
  1. Figure 109:  
  2. BREAKDOWN OF ASIA-PACIFIC NMC BATTERY PACK MARKET, BODY TYPE, VALUE SHARE (%), ASIA-PACIFIC, 2017-2029
  1. Figure 110:  
  2. BREAKDOWN OF ASIA-PACIFIC NMC BATTERY PACK MARKET, BY NICKEL, KG, ASIA-PACIFIC, 2017 - 2029
  1. Figure 111:  
  2. BREAKDOWN OF ASIA-PACIFIC NMC BATTERY PACK MARKET, BY NICKEL, USD, ASIA-PACIFIC, 2017 - 2029
  1. Figure 112:  
  2. BREAKDOWN OF ASIA-PACIFIC NMC BATTERY PACK MARKET, BODY TYPE, VALUE SHARE (%), ASIA-PACIFIC, 2017-2029
  1. Figure 113:  
  2. BREAKDOWN OF ASIA-PACIFIC NMC BATTERY PACK MARKET, BY OTHER MATERIALS, KG, ASIA-PACIFIC, 2017 - 2029
  1. Figure 114:  
  2. BREAKDOWN OF ASIA-PACIFIC NMC BATTERY PACK MARKET, BY OTHER MATERIALS, USD, ASIA-PACIFIC, 2017 - 2029
  1. Figure 115:  
  2. BREAKDOWN OF ASIA-PACIFIC NMC BATTERY PACK MARKET, BODY TYPE, VALUE SHARE (%), ASIA-PACIFIC, 2017-2029
  1. Figure 116:  
  2. BREAKDOWN OF ASIA-PACIFIC NMC BATTERY PACK MARKET, BY COUNTRY, KWH, ASIA-PACIFIC, 2017 - 2029
  1. Figure 117:  
  2. BREAKDOWN OF ASIA-PACIFIC NMC BATTERY PACK MARKET, BY COUNTRY, USD, ASIA-PACIFIC, 2017 - 2029
  1. Figure 118:  
  2. BREAKDOWN OF ASIA-PACIFIC NMC BATTERY PACK MARKET, COUNTRY, VOLUME SHARE (%), ASIA-PACIFIC, 2022 & 2029
  1. Figure 119:  
  2. BREAKDOWN OF ASIA-PACIFIC NMC BATTERY PACK MARKET, COUNTRY, VALUE SHARE (%), ASIA-PACIFIC, 2022 & 2029
  1. Figure 120:  
  2. BREAKDOWN OF ASIA-PACIFIC NMC BATTERY PACK MARKET, BY CHINA, KWH, ASIA-PACIFIC, 2017 - 2029
  1. Figure 121:  
  2. BREAKDOWN OF ASIA-PACIFIC NMC BATTERY PACK MARKET, BY CHINA, USD, ASIA-PACIFIC, 2017 - 2029
  1. Figure 122:  
  2. BREAKDOWN OF ASIA-PACIFIC NMC BATTERY PACK MARKET, BODY TYPE, VALUE SHARE (%), ASIA-PACIFIC, 2017-2029
  1. Figure 123:  
  2. BREAKDOWN OF ASIA-PACIFIC NMC BATTERY PACK MARKET, BY INDIA, KWH, ASIA-PACIFIC, 2017 - 2029
  1. Figure 124:  
  2. BREAKDOWN OF ASIA-PACIFIC NMC BATTERY PACK MARKET, BY INDIA, USD, ASIA-PACIFIC, 2017 - 2029
  1. Figure 125:  
  2. BREAKDOWN OF ASIA-PACIFIC NMC BATTERY PACK MARKET, BODY TYPE, VALUE SHARE (%), ASIA-PACIFIC, 2017-2029
  1. Figure 126:  
  2. BREAKDOWN OF ASIA-PACIFIC NMC BATTERY PACK MARKET, BY JAPAN, KWH, ASIA-PACIFIC, 2017 - 2029
  1. Figure 127:  
  2. BREAKDOWN OF ASIA-PACIFIC NMC BATTERY PACK MARKET, BY JAPAN, USD, ASIA-PACIFIC, 2017 - 2029
  1. Figure 128:  
  2. BREAKDOWN OF ASIA-PACIFIC NMC BATTERY PACK MARKET, BODY TYPE, VALUE SHARE (%), ASIA-PACIFIC, 2017-2029
  1. Figure 129:  
  2. BREAKDOWN OF ASIA-PACIFIC NMC BATTERY PACK MARKET, BY SOUTH KOREA, KWH, ASIA-PACIFIC, 2017 - 2029
  1. Figure 130:  
  2. BREAKDOWN OF ASIA-PACIFIC NMC BATTERY PACK MARKET, BY SOUTH KOREA, USD, ASIA-PACIFIC, 2017 - 2029
  1. Figure 131:  
  2. BREAKDOWN OF ASIA-PACIFIC NMC BATTERY PACK MARKET, BODY TYPE, VALUE SHARE (%), ASIA-PACIFIC, 2017-2029
  1. Figure 132:  
  2. BREAKDOWN OF ASIA-PACIFIC NMC BATTERY PACK MARKET, BY THAILAND, KWH, ASIA-PACIFIC, 2017 - 2029
  1. Figure 133:  
  2. BREAKDOWN OF ASIA-PACIFIC NMC BATTERY PACK MARKET, BY THAILAND, USD, ASIA-PACIFIC, 2017 - 2029
  1. Figure 134:  
  2. BREAKDOWN OF ASIA-PACIFIC NMC BATTERY PACK MARKET, BODY TYPE, VALUE SHARE (%), ASIA-PACIFIC, 2017-2029
  1. Figure 135:  
  2. BREAKDOWN OF ASIA-PACIFIC NMC BATTERY PACK MARKET, BY REST-OF-ASIA-PACIFIC, KWH, ASIA-PACIFIC, 2017 - 2029
  1. Figure 136:  
  2. BREAKDOWN OF ASIA-PACIFIC NMC BATTERY PACK MARKET, BY REST-OF-ASIA-PACIFIC, USD, ASIA-PACIFIC, 2017 - 2029
  1. Figure 137:  
  2. BREAKDOWN OF ASIA-PACIFIC NMC BATTERY PACK MARKET, BODY TYPE, VALUE SHARE (%), ASIA-PACIFIC, 2017-2029
  1. Figure 138:  
  2. ASIA-PACIFIC NMC BATTERY PACK MARKET, MOST ACTIVE COMPANIES, BY NUMBER OF STRATEGIC MOVES, 2020 - 2022
  1. Figure 139:  
  2. ASIA-PACIFIC NMC BATTERY PACK MARKET, MOST ADOPTED STRATEGIES, 2020 - 2022
  1. Figure 140:  
  2. ASIA-PACIFIC NMC BATTERY PACK MARKET SHARE(%), BY MAJOR PLAYER REVENUE, 2023

Asia-Pacific NMC Battery Pack Industry Segmentation

Bus, LCV, M&HDT, Passenger Car are covered as segments by Body Type. BEV, PHEV are covered as segments by Propulsion Type. 15 kWh to 40 kWh, 40 kWh to 80 kWh, Above 80 kWh, Less than 15 kWh are covered as segments by Capacity. Cylindrical, Pouch, Prismatic are covered as segments by Battery Form. Laser, Wire are covered as segments by Method. Anode, Cathode, Electrolyte, Separator are covered as segments by Component. Cobalt, Lithium, Manganese, Natural Graphite, Nickel are covered as segments by Material Type. China, India, Japan, South Korea, Thailand, Rest-of-Asia-Pacific are covered as segments by Country.

  • The demand for different types of batteries has increased as a result of the rapid growth of electric mobility in numerous APAC nations over the past few years. Few automakers are choosing NCM batteries for BEV and PHEV models, although the battery type is still in the early stages of deployment to vehicles compared to other batteries like LFP and NMC. Due to government regulations that are strict and the impending prohibition on fossil fuel vehicles, more individuals are choosing BEVs and PHEVs. These considerations have led to a small increase in the NCM battery type in a few vehicles in the APAC region from 2017 to 2021.
  • Japan and China are among the countries with a growing demand for NCM batteries for PHEV and BEV in Asia-Pacific. In addition, some of the leading producers of NCM batteries, such as CATL, LG Chem, and Samsung SDI, are from Asia. The demand for BEV and PHEV is rising gradually in various countries, including India, Thailand, and South Korea, which has also helped to increase the demand for NCM batteries throughout the APAC region. As a result, the regional market for NCM batteries used in electric vehicles increased in 2022 over 2021.
  • Various automakers are launching new products which are expected to enhance the battery industry. In February 2023, Chinese automaker BYD unveiled the 2023 model Tang, which is equipped with a plug-in hybrid system powered by the NCM battery pack. Such launches in other countries are expected to accelerate the demand and sales of NCM batteries in BEV and PHEV during the forecast period in the region.
Body Type
Bus
LCV
M&HDT
Passenger Car
Propulsion Type
BEV
PHEV
Capacity
15 kWh to 40 kWh
40 kWh to 80 kWh
Above 80 kWh
Less than 15 kWh
Battery Form
Cylindrical
Pouch
Prismatic
Method
Laser
Wire
Component
Anode
Cathode
Electrolyte
Separator
Material Type
Cobalt
Lithium
Manganese
Natural Graphite
Nickel
Other Materials
Country
China
India
Japan
South Korea
Thailand
Rest-of-Asia-Pacific
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Market Definition

  • Battery Chemistry - NCM battery type is considred under the scope of battery chemistry.
  • Battery Form - The types of battery forms offered under this segment include Cylindrical, Pouch and Prismatic.
  • Body Type - Body types considered under this segment include, passenger cars, LCV (light commercial vehicle), M&HDT (medium & heavy duty trucks)and buses.
  • Capacity - Various types of battery capacities inldude under theis segment are 15 kWH to 40 kWH, 40 kWh to 80 kWh, Above 80 kWh and Less than 15 kWh.
  • Component - Various components covered under this segment include anode, cathode, electrolyte, separator.
  • Material Type - Various material covered under this segment include cobalt, lithium, manganese, natural graphite, nickel, other material.
  • Method - The types of method covered under this segment include laser and wire.
  • Propulsion Type - Propulsion types considered under this segment include BEV (Battery electric vehicles), PHEV (plug-in hybrid electric vehicle).
  • ToC Type - ToC 4
  • Vehicle Type - Vehicle type considered under this segment include passenger vehicles, and commercial vehicles with various EV powertrains.
Keyword Definition
Electric vehicle (EV) A vehicle which uses one or more electric motors for propulsion. Includes cars, buses, and trucks. This term includes all-electric vehicles or battery electric vehicles and plug-in hybrid electric vehicles.
PEV A plug-in electric vehicle is an electric vehicle that can be externally charged and generally includes all electric vehicles as well as plug-electric vehicles as well as plug-in hybrids.
Battery-as-a-Service A business model in which the battery of an EV can be rented from a service provider or swapped with another battery when it runs out of charge
Battery Cell The basic unit of an electric vehicle's battery pack, typically a lithium-ion cell, that stores electrical energy.
Module A subsection of an EV battery pack, consisting of several cells grouped together, often used to facilitate manufacturing and maintenance.
Battery Management System (BMS) An electronic system that manages a rechargeable battery by protecting the battery from operating outside its safe operating area, monitoring its state, calculating secondary data, reporting data, controlling its environment, and balancing it.
Energy Density A measure of how much energy a battery cell can store in a given volume, usually expressed in watt-hours per liter (Wh/L).
Power Density The rate at which energy can be delivered by the battery, often measured in watts per kilogram (W/kg).
Cycle Life The number of complete charge-discharge cycles a battery can perform before its capacity falls under a specified percentage of its original capacity.
State of Charge (SOC) A measurement, expressed as a percentage, that represents the current level of charge in a battery compared to its capacity.
State of Health (SOH) An indicator of the overall condition of a battery, reflecting its current performance compared to when it was new.
Thermal Management System A system designed to maintain optimal operating temperatures for an EV's battery pack, often using cooling or heating methods.
Fast Charging A method of charging an EV battery at a much faster rate than standard charging, typically requiring specialized charging equipment.
Regenerative Braking A system in electric and hybrid vehicles that recovers energy normally lost during braking and stores it in the battery.
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Research Methodology

Mordor Intelligence follows a four-step methodology in all its reports.

  • Step-1: Identify Key Variables: To build a robust forecasting methodology, the variables and factors identified in Step-1 are tested against available historical market numbers. Through an iterative process, the variables required for market forecast are set and the model is built based on these variables.
  • Step-2: Build a Market Model: Market-size estimations for the historical and forecast years have been provided in revenue and volume terms. Market revenue is calculated by multiplying the volume demand with volume-weighted average battery pack price (per kWh). Battery pack price estimation and forecast takes into account various factors affecting ASP, such as inflation rates, market demand shifts, production costs, technological developments, and consumer preferences, providing estimations for both historical data and future trends.
  • Step-3: Validate and Finalize: In this important step, all market numbers, variables, and analyst calls are validated through an extensive network of primary research experts from the market studied. The respondents are selected across levels and functions to generate a holistic picture of the market studied.
  • Step-4: Research Outputs: Syndicated Reports, Custom Consulting Assignments, Databases & Subscription Platforms
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Asia-Pacific NMC Battery Pack Market Research FAQs

The Asia-Pacific NMC Battery Pack Market size is expected to reach USD 16.66 billion in 2024 and grow at a CAGR of 9.28% to reach USD 25.97 billion by 2029.

In 2024, the Asia-Pacific NMC Battery Pack Market size is expected to reach USD 16.66 billion.

BYD Company Ltd., LG Energy Solution Ltd., Panasonic Holdings Corporation, SK Innovation Co. Ltd. and Tesla Inc. are the major companies operating in the Asia-Pacific NMC Battery Pack Market.

In the Asia-Pacific NMC Battery Pack Market, the BEV segment accounts for the largest share by propulsion type.

In 2024, Japan accounts for the largest share by country in the Asia-Pacific NMC Battery Pack Market.

In 2023, the Asia-Pacific NMC Battery Pack Market size was estimated at 16.66 billion. The report covers the Asia-Pacific NMC Battery Pack Market historical market size for years: 2017, 2018, 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Asia-Pacific NMC Battery Pack Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.

Asia-Pacific NMC Battery Pack Industry Report

Statistics for the 2023 Asia-Pacific NMC Battery Pack market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Asia-Pacific NMC Battery Pack analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.

Asia-Pacific NMC Battery Pack Market Report Snapshots