Japan EV Battery Market Overview: Statistics
Japan exhibits the world's third-largest representative vehicle market in terms of manufacturing capacity and gross margin, but it is also one of the countries pioneering the creation of cutting-edge electric transport technologies, including hybrid electric vehicles and fuel cell vehicles. Electric vehicles currently account for 32.9% of volume growth in Japan, with substantial growth in their percentage predicted in the following years. However, with their better energy density and longer lifespans as compared to other existing technologies, lithium-ion batteries are used in the majority of these vehicles to store the energy required for propulsion. The estimated value of paramount materials required in Japan for EV LiB manufacture is expected to reach 936 million US dollars in 2035, with 325 million dollars recovered through material recovery from ELVs, significantly lowering reliance on those commodities from foreign countries. For example, Panasonic of Japan said in 2022 that it would supply Tesla with the new "4680" type of EV battery.
This research report categorizes the market for Japan EV battery market size based on various segments and regions and forecasts revenue growth and analyzes trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the Japan EV Battery Market. Recent market developments and competitive strategies such as expansion, product launch, and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segments of the Japan EV Battery Market.
The automotive sector is believed to be one of Japan's key industrial sectors. The Japanese government's increasing investments in the design and production of electric vehicles, as well as favorable government incentives such as tax breaks, purchase grants, and exemptions from license and registration fees, are key factors boosting the growth of electric vehicles, which leads to an increase in the country's electric vehicle battery market. In 2020, Japan began developing advanced LIBs on the basis of current LIBs, with the primary goal of boosting energy density and lowering production costs. Furthermore, under the METI's development strategies, Japan is dedicated to battery development through industry-academia-government joint collaboration.
On the contrary, the other side, the number of NGVs sold in Japan is rapidly dropping, with a 30% proportion of new car sales. Since then, Japan has primarily focused on hybrid and fuel-cell automobiles (FCVs). HV batteries, unlike EV batteries, are mostly nickel-metal hydride batteries. In Japan, on the other hand, the installed capacity of automotive batteries has remained unchanged, if not declining in recent years.
Japan EV Battery Market Segment
In 2022, the lithium ion battery segment is witnessing a higher growth rate over the forecast period.
Based on battery type, the Japan EV Battery Market is segmented as solid state battery, lead acid battery, lithium ion battery, nickel metal hydride battery, and other battery types. Among these, the lithium ion battery segment is witnessing a higher growth rate over the forecast period. Because of its excellent density of energy relative to weight and ability to be recharged, lithium ion batteries are the most often utilized battery type in modern electric vehicles. Furthermore, excellent durability, dependability, and cooling performance, as well as laminated-structure battery cells and long-life cycle cells, are expected to drive the lithium ion battery market expansion in Japan.
In 2022, the battery electric vehicle segment is witnessing significant CAGR growth over the forecast period.
On the basis of vehicle type, the Japan EV Battery Market is segmented into battery electric vehicle, plug-in hybrid electric vehicle, and hybrid electric vehicle. Among these, the battery electric vehicle segment is witnessing significant CAGR growth over the forecast period. Japan served as the leading market for battery electric vehicle sales and manufacturing (BEVs). The rising popularity of compact battery-powered cars with battery packs is predicted to fuel the expansion of the electric vehicle battery industry. Government agencies enforcing quota systems and rigorous fuel economy requirements, particularly in developing countries, are projected to accelerate the adoption of BEVs that are totally powered by rechargeable battery packs.
In 2022, the commercial electric vehicle is dominating the market with the largest market share of 40% over the forecast period.
Based on application type, the Japan EV Battery Market is segmented into two wheelers, three wheelers, electric cars, electric buses & trucks, commercial electric vehicles, and others. Among these, the commercial electric vehicles segment dominates the market with the largest market share of 40% over the forecast period owing to the commercial vehicle demand is increasing in tandem with ongoing infrastructural development. Commercial vehicles, on the other hand, are typically heavy-duty vehicles with higher pollution discharge rates than passenger vehicles. As a result, as part of their efforts to minimize greenhouse gas emissions, government agencies are concentrating on electrifying commercial vehicles.
The report offers the appropriate analysis of the key organizations/companies involved within the Japan EV Battery Market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.
List of Key Companies
- Asahi Kasei
- Maxell, Ltd.
- GS Yuasa International Ltd.
- DENSO Corporation
- NGK Insulators Ltd.
- Hitachi Vehicle Energy Ltd.
- Furukawa Battery Co., Ltd.
- Panasonic Corporation
- LG Energy Solution
- Automotive Energy Supply Corporation
- Sanyo Electric Co. Ltd.
- Mitsubishi Motors Corporation
- EEMB Battery
- Toshiba Corporation
- FDK Corp.
- Contemporary Amperex Technology Co Ltd.
Key Target Audience
- Market Players
- Government Authorities
- Consulting and Research Firm
- Venture capitalists
- Value-Added Resellers (VARs)
- In March 2022, FDK CORPORATION (Tokyo) has developed and introduced the new "HR-AAUTEWM" nickel metal-hydride battery to its product lineup for in-vehicle applications. The new HR-AAUTEWM will help improve batteries durability and life-efficiency by utilizing new high-end durable and sophisticated materials.
- In July 2022, NGK Insulators Ltd. will install a NAS battery for energy storage and solar equipment systems at its Nomi City, Ishikawa Prefecture production locations. NGK will seek to reduce its carbon dioxide (CO2) emissions by capturing all renewable energy generated. Furthermore, the battery energy storage facility will be the largest in the Hokuriku region, serving as a backup power supply in the event of an emergency or disaster. On the premises of its Ishikawa Plant, NGK will also install a NAS battery with a rated output of 200 kW and a rated capacity of 1.2 MWh.
- In May 2021, Furukawa Battery Co., Ltd. expands its alkaline storage batteries in Singapore, which are installed in Sentosa Express in the monorail. The company installed alkaline storage batteries with developed manufacturability with compressed and frilly qualities for this battery substitution.
Japan EV Battery Market Segment
This study forecasts revenue at global, regional, and country levels from 2019 to 2030. Spherical Insights has segmented the Japan EV Battery Market based on the below-mentioned segments:
Japan EV Battery Market, By Battery Type
- Solid State Battery
- Lead Acid Battery
- Lithium Ion Battery
- Nickel Metal Hydride Battery
- Other Battery Types
Japan EV Battery Market, By Vehicle Type
- Battery Electric Vehicle
- Plug-in Hybrid Electric Vehicle
- Hybrid Electric Vehicle
Japan EV Battery Market, By Application Type
- Two Wheelers
- Three Wheelers
- Electric Cars
- Electric Buses & Trucks
- Commercial Electric Vehicles
- Other Vehicles
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