Japan EV Battery Pack Market Size

Japan EV Battery Pack Market Analysis

The Japan EV Battery Pack Market size is estimated at 6.5 billion USD in 2024, and is expected to reach 7.67 billion USD by 2029, growing at a CAGR of 3.37% during the forecast period (2024-2029).

6.5 Billion

Market Size in 2024 (USD)

7.67 Billion

Market Size in 2029 (USD)

11.64 %

CAGR (2017-2023)

3.37 %

CAGR (2024-2029)

Largest Segment by Body Type

97.09 %

value share, Passenger Car, 2023

Due to the launching of inexpensive EVs, tax subsidies, the benefits of EVs over gasoline cars, and strict regulations, electric cars are the biggest body type in Japan.

Largest Segment by Propulsion Type

88.12 %

value share, BEV, 2023

BEVs outsell PHEVs owing to their easy affordability, little maintenance, zero carbon emissions, high subsidies and no fuel expenditures.

Largest Segment by Battery Chemistry

99.40 %

value share, LFP, 2023

LFP batteries are the most frequent due of their low cost, long range, durability, and high import rate from China (80% of Chinese batteries are LFP).

Largest Segment by Battery Form

99.59 %

value share, Prismatic, 2023

Prismatic cells are the most frequent battery type in Japanese EVs due to its cheap cost, higher safety, and high density per volume.

Leading Market Player

19.28 %

market share, GS Yuasa International Ltd., 2022

Due to its wide battery supply to EV producers including Nissan, BMW, and others, GS Yuasa dominates the Japan Electric Vehicle Battery Pack Market.

Government support and technological advancements drive the adoption of BEVs

Understand The Key Trends Shaping This Market

Download Sample

Japan EV 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. LFP, NCM, NMC, Others are covered as segments by Battery Chemistry. 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.

• Electrification of vehicles has been gaining popularity in Japan over the past few years. Factors such as growing environmental concern, enforcing norms related to electric vehicles, advantages of electric vehicles over fossil fuel vehicles, and government help in terms of rebates and subsidies (such as since 2021, a subsidy of USD 7,200 has been offered on battery electric vehicles) have increased the demand of electric vehicles such BEVs and PHEVs in the country. This led to a significant growth in the demand for lithium-ion batteries for electric vehicles and plug-in hybrid electric vehicles in Japan.
• The demand for plug-in hybrid electric vehicles is higher than the battery electric vehicles. However, the majority of the market, i.e., around more than 90% of the sales of overall electric vehicles, is dominated by hybrid vehicles. Plug-in hybrid vehicles have the option of switching to fuel or battery. However, development in the charging infrastructure is encouraging people to invest in battery electric vehicles gradually.
• The requirement for lithium-ion batteries is increasing with the increased demand for battery electric vehicles. Batteries used in pure electric cars acquired a share of xx% in the overall sales of EVs in 2022. However, various companies are launching new products in the plug-in hybrid category. In March 2023, Toyota unveiled its new plug-in hybrid electric car, Prius, which provides a battery range of around 105 km, and bookings of the vehicle started. The introduction of new products is anticipated to strengthen Japan's electric car and battery industries during the forecast period.

Need A Different Region Or Segment?

Customize Now