糖心vlog传媒

logo

Asia-Pacific NMC Battery Pack Market Size

The Asia-Pacific NMC Battery Pack Market is experiencing significant growth, driven by the increasing demand for electric vehicles and supportive government policies across the region. This expansion is particularly notable in countries like China, Japan, and South Korea, which are key players due to their robust automotive industries and technological advancements. China's dominance in the market is supported by substantial government backing and a large consumer base, while Japan and South Korea contribute with their established automotive sectors and strong EV adoption support. Additionally, emerging markets such as India and Thailand are poised for growth, fueled by a focus on electric vehicle adoption and renewable energy initiatives.

Home right-chevron-icon Market Analysis right-chevron-icon Automotive Research right-chevron-icon Auto Parts Research right-chevron-icon Automotive Exterior Products Research right-chevron-icon Vehicle Powertrain Research right-chevron-icon EV Powertrain Research right-chevron-icon Asia-Pacific NMC Battery Pack Market right-chevron-icon Market Size

Market Size of asia-pacific nmc battery pack Industry

Asia-Pacific NMC Battery Pack Market Summary
share button
svg icon Study Period 2017 - 2029
svg icon Market Size (2024) USD 16.66 Billion
svg icon Market Size (2029) USD 25.97 Billion
svg icon Largest Share by Propulsion Type BEV
svg icon CAGR (2024 - 2029) 9.28 %
svg icon Largest Share by Country Japan
svg icon Market Concentration Low

Major Players
major-player-company-image

*Disclaimer: Major Players sorted in no particular order

Key Players

WHY BUY FROM US?

1. CRISP & INSIGHTFUL
2. TRUE BOTTOM-UP
3. EXHAUSTIVENESS
4. TRANSPARENCY
5. CONVENIENCE
KNOW MORE

Single User License

$4750

Team License

$5250

Corporate License

$8750

Book before:
Single User License
Team License
Corporate License
Book before:

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).

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

Icon image

Passenger car聽are the most popular body type in APAC NCM battery packs sales聽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

Icon image

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

Icon image

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

Icon image

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 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
customize-icon Need A Different Region Or Segment?
Customize Now

Asia-Pacific NMC Battery Pack Market Size Summary

The Asia-Pacific NMC Battery Pack Market is experiencing significant growth, driven by the rapid expansion of electric mobility across the region. This growth is fueled by increasing demand for battery electric vehicles (BEVs) and plug-in hybrid electric vehicles (PHEVs), supported by stringent government regulations and a shift away from fossil fuel vehicles. Countries like Japan and China are at the forefront of this demand, with leading battery producers such as CATL, LG Chem, and Samsung SDI contributing to the market's expansion. The introduction of new vehicle models equipped with NMC battery packs, such as BYD's 2023 model Tang, is expected to further accelerate market growth. The Asia-Pacific region is poised to play a crucial role in the global electric vehicle industry, with China, Japan, and South Korea being key players due to their strong domestic demand, government support, and advanced technological capabilities.

The market landscape is characterized by a competitive environment with major companies like BYD, Toyota Group, Tesla, Wuling, and Honda holding significant market shares. BYD leads the market with a substantial portion of EV sales, supported by its financial strength and extensive sales network. The preference for electric SUVs is on the rise, with models like Tesla's Model Y and BYD's Song DM gaining popularity due to their features and competitive pricing. The market is also witnessing a growing interest in compact SUVs, reflecting the Asian consumer's preference for utility and spaciousness. The fragmented nature of the market, with the top five companies holding a quarter of the share, indicates a dynamic and evolving industry landscape, with opportunities for growth in countries like India, Thailand, and others focusing on electric vehicle adoption and renewable energy targets.

Explore More >

Asia-Pacific NMC Battery Pack Market Size - Table of Contents

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

    1. 1.1 Body Type

      1. 1.1.1 Bus

      2. 1.1.2 LCV

      3. 1.1.3 M&HDT

      4. 1.1.4 Passenger Car

    2. 1.2 Propulsion Type

      1. 1.2.1 BEV

      2. 1.2.2 PHEV

    3. 1.3 Capacity

      1. 1.3.1 15 kWh to 40 kWh

      2. 1.3.2 40 kWh to 80 kWh

      3. 1.3.3 Above 80 kWh

      4. 1.3.4 Less than 15 kWh

    4. 1.4 Battery Form

      1. 1.4.1 Cylindrical

      2. 1.4.2 Pouch

      3. 1.4.3 Prismatic

    5. 1.5 Method

      1. 1.5.1 Laser

      2. 1.5.2 Wire

    6. 1.6 Component

      1. 1.6.1 Anode

      2. 1.6.2 Cathode

      3. 1.6.3 Electrolyte

      4. 1.6.4 Separator

    7. 1.7 Material Type

      1. 1.7.1 Cobalt

      2. 1.7.2 Lithium

      3. 1.7.3 Manganese

      4. 1.7.4 Natural Graphite

      5. 1.7.5 Nickel

      6. 1.7.6 Other Materials

    8. 1.8 Country

      1. 1.8.1 China

      2. 1.8.2 India

      3. 1.8.3 Japan

      4. 1.8.4 South Korea

      5. 1.8.5 Thailand

      6. 1.8.6 Rest-of-Asia-Pacific

Asia-Pacific NMC Battery Pack Market Size 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.

Asia-Pacific NMC Battery Pack Market Report Snapshots

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

// // // // //

糖心vlog传媒

// // ${ //
//

// 糖心vlog传媒 - ${reportTitle} //

// // // "> // `; codeToEmbed.innerText = `

${
Image Source
` // Citation Copy const citationText = document.querySelector(".citation-text"); const copyCitation = document.querySelector("#copy-citation"); copyCitation.addEventListener("click", function (event) { event.preventDefault(); handleShare('Citation Copied'); var copyText = citationText.innerText; navigator.clipboard.writeText(copyText); let copiedNotification = document.getElementById("citation-copy-notification"); copiedNotification.classList.remove("invisible"); setTimeout(()=>copiedNotification.classList.add("invisible"), 2000); }); // Link Copy const copyButton = document.querySelector("#copy-link"); copyButton.addEventListener("click", function (event) { event.preventDefault(); handleShare('Link Copied') navigator.clipboard.writeText(`${report_url}`); let copiedNotification = document.getElementById("link-copy-notification"); copiedNotification.classList.remove("invisible"); setTimeout(()=>copiedNotification.classList.add("invisible"), 1500 ); }); // Embed Code Copy const copyEmbedCodeButton = document.getElementById('copy-embed-code-butt'); copyEmbedCodeButton.addEventListener("click", function(event){ event.preventDefault(); handleEmbedSnapshot(); let copyiedCode = document.getElementById('code-to-copy').innerText; navigator.clipboard.writeText(copyiedCode); let codeCopiedNotification = document.getElementById("embed-code-copy-notification"); codeCopiedNotification.classList.remove("invisible"); setTimeout(()=>codeCopiedNotification.classList.add("invisible"), 1500 ); }); // Facebook Share let facebookShare = document.getElementById("facebook-share"); facebookShare.addEventListener('click', function() { handleShare('Facebook'); let url = `https://www.facebook.com/sharer/sharer.php?u=${encodeURI(report_url)}`; window.open(url,'Share on Facebook', `width=${width}, height=${height}, top=${top}, left=${left}`) }); // LinkedIn Share let linkedinShare = document.getElementById("linkedin-share"); linkedinShare.addEventListener('click', function() { handleShare('LinkedIn'); let url = `https://www.linkedin.com/shareArticle?mini=true&url=${encodeURI(report_url)}&source=MordorIntel`; window.open(url, 'Share on Linkedin', `width=${width}, height=${height}, top=${top}, left=${left}`); }); // Twitter Share let twitterShare = document.getElementById("twitter-share"); twitterShare.addEventListener('click', function() { handleShare('Twitter'); let url = `http://twitter.com/intent/tweet?url=${encodeURI(report_url)}&text=${encodeURIComponent(shortTitle.replace(/\s+Market$/, '').replace(/\s+market$/, '').trim() + ' Market Size | 糖心vlog传媒')},${encodeURIComponent('@MordorIntel')}&hashtags=mordorintelligence,${slug.replaceAll("-", "")}`; window.open(url, 'Share on Twitter', `width=${width}, height=${height}, top=${top}, left=${left}`); }); // Email Share let emailShare = document.getElementById("email-share"); emailShare.href = `mailto:?subject=${encodeURIComponent("糖心vlog传媒 - " + shortTitle)}&body=${encodeURIComponent('Check out this report from 糖心vlog传媒. I believe you will find it interesting.')}%0D%0A%0D%0A${encodeURIComponent(metaDescription)}%0D%0A%0D%0A${encodeURIComponent(marketSnapshotUrl)}%0D%0A%0D%0A${encodeURIComponent(report_url)}`; emailShare.addEventListener('click', function() { handleShare('Email'); }); } // Share Analytics async function handleShare(type=null){ try{ let body ={ reportTitle: `${reportTitle}`, reportSlug: `${slug}`, reportUrl: `${report_url}`, sharingPlatform: type, } fetch(`${backend_url}/api/collect-analytics/share-analytics`, { method: 'post', body: JSON.stringify(body) }).then(res=>{ console.log('Send Successfully'); }) } catch(error){ console.log(`Error at Share Analytics: ${error}`); } } // Embed Analytics async function handleEmbedSnapshot(){ try{ let body ={ image: (imageType === "executive-summary") ? marketSnapshotUrl.split('/')[3]+'-executive-summary-snapshot' : marketSnapshotUrl.split('/')[3]+'-market-snapshot', imageUrl: marketSnapshotUrl, reportTitle: `${reportTitle}`, reportSlug: `${slug}`, reportUrl: `'${report_url}`, isMarketSnapshot: isMarketSnapshot, isExecutiveSummary: isExecutiveSummary, } fetch(`${backend_url}/api/collect-analytics/embed-analytics`, { method: 'post', body: JSON.stringify(body) }).then(res=>{ console.log('Send Successfully'); }) } catch(error){ console.log(`Error at Embed Snapshot Analytics: ${error}`); } } // Alter Image Url function alterImageUrl(imageUrl){ if(window.location.href?.includes('www.mordorintelligence')){ if(imageUrl?.includes('mordorlabs')){ imageUrl = imageUrl.replace('mordorlabs','mordorintelligence'); }else if(imageUrl?.includes('mordor-graph-bucket.s3.us-west-2.amazonaws')){ imageUrl = imageUrl.replace('mordor-graph-bucket.s3.us-west-2.amazonaws','s3.mordorintelligence'); } }else{ if(imageUrl?.includes('mordorintelligence')) { imageUrl = imageUrl.replace('mordorintelligence','mordorlabs'); }else if(imageUrl?.includes('mordor-graph-bucket.s3.us-west-2.amazonaws')){ imageUrl = imageUrl.replace('mordor-graph-bucket.s3.us-west-2.amazonaws','s3.mordorlabs'); } } return imageUrl + "?embed=true"; } }